Homes are being sold at a brisk pace at the low end of the local real estate market as Las Vegas shows signs of a housing recovery. But there are killer deals to be had on the high-end, too, including a house in Summerlin that has dropped in price 36 percent in three years and is going now for, well, $18 million.
Brokers who specialize in high-end homes say there are signs of an uptick in the luxury market.
As of Aug. 16, 23 homes in Clark County had been sold this year for at least $2 million, according Kristen Routh-Silberman, a broker with Synergy Sotheby’s International Realty in Las Vegas. That's up from 16 total sold last year.
Last year, the highest reported sale price for a house was $6.35 million, for a home in the Queensridge area near Summerlin. The highest recorded sale price so far this year was $7 million for a house in the same neighborhood.
“The trend has definitely picked up in the high-end market,” said Carla Redmond, a broker with Simply Vegas.
Here's a tour of some of the most expensive – and fabulous – manses in the valley, their values readjusted from the boom years. We've also thrown in one estate that has nearly doubled in price over the past two years.
Real estate – it's a fickle industry.
1701 Enclave Court, Las Vegas
Current price: $18 million
September 2008 price: $28 million
Change: Down 36 percent
Owned in a trust by businessman Jerry Herbst — from the Terrible Herbst chain of gas stations and convenience stores — this 13,349-square-foot house sits on an 84,506-square-foot lot that overlooks a golf course and mountains.
The house has four bedrooms, eight bathrooms, a theater, a wine cellar, a gym and a four-car garage with an elevator that leads indoors. It features floor-to-ceiling glass panels and doors that “create a sense of visual transparency to the gardens and distant views,” according to a real estate listing. The front courtyard offers “the sounds of a running brook via a water rill from the upper guest-wing patio.”
7000 Tomiyasu Lane, Las Vegas
Current price: $16.5 million
November 2008 price: $21 million
Change: Down 21 percent
Known as the Primm Compound, this 10-acre estate is owned by casino developer Gary Primm and his ex-wife, Carol.
The 15,000-square-foot main residence has 28 rooms, an elevator and a 5,000-bottle wine cellar. It also has a trophy room — a multimillion-dollar collection of lions, a giraffe, an African water buffalo and other exotic animals killed on the hunt — with butternut wood paneling and automated recorded sounds of animals in the wild. The compound includes horse stables, a golf driving range, a 20-car showroom and an underground shooting range. The pool features waterfalls and a waterslide as well as a grotto bar and one-bedroom guest suite built into a cave behind the waterfall.
Pop singer Michael Jackson was planning to buy the house shortly before his death in 2009.
43 Rue Mediterra Drive, Henderson
Current price: $15 million
August 2010 price: $20 million
Change: Down 25 percent
This 9,328-square-foot home at Lake Las Vegas is owned by clothing retailer Fred Segal.
The estate has four bridges that span two streams and waterfalls that circulate 4,000 gallons of lake water per minute. Inside, the home’s central feature is a glass-roofed atrium with a pool and jacuzzi. The house also includes a prep kitchen, main kitchen and library, along with fitness and meditation rooms.
26 Vintage Court, Las Vegas
Current price: $14 million
December 2010 price: $7.5 million
Change: Up 87 percent
Owned by real estate developer Jack Sommer and his wife, Laura, this 16,649-square-foot house has 12 bedrooms, 15 bathrooms and a five-car garage. Each bedroom has a balcony or patio, and the Spanish Trail Country Club borders the backyard.
The home was almost sold at a private auction in February, but the deal fell through. It was listed for $14 million but reportedly sold on the auction block for only $4.5 million. The deal never closed, however, and the house was put back on the market.
Daryl DeShaw, the house's broker since April, said the buyer was from Asia and was unable to bring the money needed to purchase the home into the United States.
587 St. Croix St., Henderson
Current price: $10 million
May 2009 price: $13.85 million
Change: Down 28 percent
This MacDonald Ranch property measures only three-fourths of an acre, but this 13,706-square-foot house has plenty of perks. It includes seven bedrooms, 13 bathrooms and an eight-car garage with four climate-controlled spaces. It has a theater that can seat 18 to 20 people and a gym/dance room with a rubber mat floor. The house also features a 72-foot-long infinity edge pool, an outdoor kitchen and a billiards room with a wet bar.
9021 Greensboro Lane, Las Vegas
Current price: $9.9 million
January 2012 price: $10.9 million
Change: Down 9 percent
This six-bedroom, eight-bathroom house in the Tournament Hills neighborhood of Summerlin offers 12,647 square feet of space with floor-to-ceiling windows, lush landscaping and city views. Features include a prep kitchen, butler's pantry, wine room, two-story library, elevator and mini-vineyard. The house also has six fireplaces, a seven-car garage, a gym and a sauna.
8101 Obannon Drive, Las Vegas
Current price: $9.6 million
June 2008 price: $17.5 million
Change: Down 45 percent
At 18,000 square feet, this house appears to be the largest luxury home currently listed in Las Vegas. It has 10 bedrooms and 15 bathrooms, not to mention a commercial kitchen, fitness center, sound-proof theater, aquarium and billiards room. The 7-acre estate also has three swimming pools (one indoor and two outdoor), a sports court, a model airplane runway, a rose marbled vestibule and koi ponds.
9505 Kings Gate Court, Las Vegas
Current price: $5.5 million
August 2010 price: $12.5 million
Change: Down 56 percent
This 16,213-square-foot house has seven bedrooms, 10 bathrooms and an eight-car garage. The home features a library, wine cellar and theater as well as an elevator, gym and spa. There are laundry rooms both upstairs and downstairs and a double staircase in the foyer.
3910 E. Russell Road, Las Vegas
Current price: $5 million
September 2009 price: $13.5 million
Change: Down 63 percent
This 11-acre equestrian ranch offers a 12,147-square-foot main residence as well as guest, trainer and staff houses. The main residence includes four bedrooms, five bathrooms, five gas fireplaces and a four-car garage. The compound also features three barns, a horse-breeding facility, a riding arena, water wells and a gazebo.