Upscale developers launch new housing projects in Las Vegas
Luxury homebuilders in Las Vegas have experienced a significant increase in sales of homes priced at $1 million and higher in 2025 compared to the previous year. Led by the emergence of Ascension, a luxury custom-home community in Summerlin, the market has seen a surge in high-end home purchases.
According to data from Las Vegas-based Home Builders Research, there were a total of 334 sales of new homes priced at $1 million and above during the first half of 2025, a notable increase from the 227 sales recorded during the same period in 2024. Ascension, a collaborative project between Toll Brothers and the Pulte Group, has been a major contributor to this upward trend, accounting for 142 sales in the first six months of the year, a stark contrast to the mere two sales in the same period the previous year.
Situated between the Summit Club and Mesa Ridge, Ascension boasts a range of luxury homes priced between $1 million and $3.1 million. With 62 sales in the first quarter and 80 in the second quarter of 2025, the development has emerged as a key player in the luxury home market. Furthermore, Pulte and Toll Brothers recorded 37 sales of homes priced at $1 million and higher outside of Ascension, highlighting the community’s significance in driving sales.
Another upcoming luxury housing development in the pipeline is Taylor Morrison’s Esplanade at Red Rock in Summerlin. This project is awaiting final approval from the city of Las Vegas to proceed with its construction plans, with a grand opening scheduled for the second quarter of the following year. The community aims to offer nearly 400 homes, over half of which will be priced at $1 million and above, with some exceeding $2 million. Esplanade at Red Rock is set to feature resort-style amenities, including a restaurant, bar, fitness center, and golf simulator.
In Henderson, LIVV Homes, a subsidiary of Growth Holdings, is planning to introduce 96 smart homes priced between $3 million and $7 million in a new energy-efficient community. The project has already sold 16 homes, with more underway for completion by the end of the year. Similarly, Heritage Homes is set to unveil a luxury hillside development near MacDonald Highlands, with homes starting at $4.2 million. Scott Hughbanks, the owner of Heritage Homes, anticipates completing the first homes in early 2026, offering expansive views of the Strip and valley.
Ascaya in Henderson is also progressing with its development of The Canyon Residences, a project designed by Blue Heron. This unique development features a mix of traditional stacked condos and single-family detached homes, with prices ranging from $2.99 million to $4.46 million. The Canyon consists of 51 units, with homes ranging from 3,300 to 4,400 square feet, emphasizing luxurious amenities and lock-and-leave convenience.
Overall, the luxury real estate market in Las Vegas is witnessing a surge in demand, driven by an influx of buyers from California seeking high-end properties with stunning views and premium amenities. As new developments continue to emerge and existing communities expand, the market shows no signs of slowing down, offering buyers a diverse range of luxury housing options to choose from.