It is believed a new record has been set in Las Vegas real estate. A home in Summerlin at the Promontory at The Ridges subdivision recently sold for nearly $7.9 million. The price is considerable but not a jaw dropping factor. The home that closed escrow sometime last week was 7,519 square feet. My calculator popped out $1,050 or so per foot. That's amazing for just about anywhere in the country and is supposedly a new high for the Las Vegas valley.
Home prices generally average around $180-220 per square foot as a whole throughout the valley. Amazing homes in amazing neighborhoods demand amazing premiums.