Wargo, Buck. Special To Real Estate Millions. Las Vegas Review Journal. “Experts say demand for custom home lots increases” (August 21, 2016).
Wealthy Las Vegas residents interested in better views are purchasing pricey hillside lots in greater numbers in the latest trend in custom homes.
Brokers and sales agents of luxury developments said lot sales and interest in their properties are up, a trend that is showing no signs of slowing down.
The Summit Club, a 555-acre country club community under development in Summerlin, is in the process of closing on half of the 140 custom home lots it has on the market, with an average price range between $3 million and $3.5 million. Homes started closing in May.
MacDonald Highlands, a 1,200-acre Henderson luxury master-planned community with about 600 residents, a golf course and restaurant, announced it has sold 10 lots in 2016 and that another six are in escrow, surpassing what it sold in 2015. Thus far in August alone, MacDonald Highlands has made six sales.
Its lots sell from $399,000 to $5 million, with an average price of $750,000.