Despite the aggressive winds last week, there was positive movement to report for the luxury real estate market. Currently, there are 417 active listings priced at $1 Million or more. That’s the highest luxury inventory we seen this year by just a couple. Last week, 26 new listings hit the market with an average list price of $1,617,865.
We normally see the majority of new listings popping up in Summerlin, however, these homes were much more scattered throughout the valley. Including east, west, south, central, Kyle Canyon, Boulder City, and even an Equestrian property near the airport. Out of the 26 new listings, 20 include a private pool and are two-stories or more, and only 15 were located behind a gate.
There were 8 luxury homes that sold in the last seven days with an average sale price of $1,835,322. This is about the weekly norm for the year thus far. Of the 9 sales, 2 were represented by the Ivan Sher Group. One sale was in a downtown neighborhood, 1 in the Northwest, 3 in Summerlin, and 4 in Henderson.
The largest sale of the week recorded for $5,075,000 in the Ridges. That is only the fourth sale this year above $5 Million. There are currently 42 ultra-luxury homes listed at $5 Million or higher. The Ivan Sher Group represents half of those.
High-rise listings over a million continue to move very slow with same number of active listings as last week, 61. We saw 2 new listings and 1 new sale. As well, high-rise listings between $500,000 – $1,000,000 only saw 5 new listings and 4 new sales last week.