By Patrick Blennerhassett / Las Vegas Review-Journal
Southern Nevada’s luxury housing market posted strong growth in 2025, even as the broader housing market slowed.
“Southern Nevada’s luxury market saw healthy growth in 2025,” states a new report from Nevada State Bank. “This increase followed four years of relatively flat activity after the surge during the post-pandemic housing boom in 2021.”
Sales of million-dollar-plus homes, led by The Peaks neighborhood in Summerlin, increased 13.6 percent in 2025 compared to the previous year. The average price of a luxury home in Southern Nevada climbed to $1.9 million as luxury sales increased by 294 to 2,462 last year compared to 2024, according to data from Nevada State Bank’s High Net Worth Report.
Summerlin remains the valley’s top spot for high-end homes, recording 927 sales — a 20.5 percent jump — with an average luxury home price of $2 million. Of those, 292 were in The Peaks, with Redpoint coming in second at 82 closings.
Henderson captured roughly 21 percent of the valley’s luxury sales in 2025, with an average sale price of approximately $2.3 million. The Las Vegas resort corridor averaged around $2.2 million.
“Nevada’s luxury housing market experienced reassuring growth in 2025, even as the broader housing market slowed,” said James Rensvold, executive vice president and director of Private Banking at Nevada State Bank.