http://susancruz.cbvegas.com/blog/categoryname_global-luxury/sort_entrydatetime-desc/ The Luxury Market Forges Ahead in Las Vegas, Outperforming the Broader MarketThe Las Vegas luxury market continues to be a bright spot in an otherwise languishing housing market. In single-family homes, sales over $1 million have reached nearly 1,300 year-to-date in 2026. That figure already represents 77% of the full-year 2025 total, with four months remaining to match or surpass last year’s result. The prime market ($3 million and above) is where the most notable activity is occurring, with nearly 170 sales year-to-date compared with 199 for all last year. Some of the stronger sales pace stems from additional new-home supply. Of the 28 homes currently under contract that were listed above $3 million, eleven are new construction.With headline mortgage interest rates topping 7%, the housing market has a substantial headwind, yet affluent buyers are more insulated, often rolling over equity from a prior home or using cash to fund purchases. Of the single-family sales of $3 million or more this year, 57% were all-cash (though some buyers may later introduce leverage). The remaining purchases typically involve low loan-to-value financing at adjustable rates.S&P Cotality Case-Shiller data show that the high tier (the top one-third of prices) is down only 1.6% from its 2025 peak, while the mid and low tiers are down 2.5% and 2.1%, respectively. Looking more narrowly at homes that sold for more than $3 million in the second quarter, our repeat-sales index is up 6.3% from 2025. The threshold for the top 1% of home sales has risen from $2.85 million last year to $3.05 million this year.As a reference point, single-family luxury sales in Las Vegas (January–August) are down 40% from the 2021 peak for this decade. Conversely, they are up 25% from the same period last year.The high-rise and luxury attached market is experiencing a similar buoyancy to single-family, floating above the overall housing market and driven by affluent migration to the Las Vegas area. A simple $1 million price threshold is not the best measure of high-rise luxury, because some residences may be one-bedroom units yet sit in amenity-rich buildings with strong views and high-end finishes. On a price-per-square-foot basis, 15 residences surpassed that threshold in 2025 (January–August), and 19 year-to-date in 2026. Waldorf Astoria, the most premium building in the market, has seen prices advance markedly through 2024, 2025, and 2026. Our repeat-sales index for the building estimates that prices have increased by over 20% from the boom year of 2021. The median appreciation return for a Waldorf penthouse is estimated at 8.6% annualized—an attractive result for an asset that can also be lived in and enjoyed. Although these residences are primarily lifestyle choices, observing calm growth builds confidence in the sector.This confidence in the high-rise market has translated into new activity, with Four Seasons Residences Las Vegas well underway with vertical construction. This project caters to the global wealthy—buyers who often maintain multiple residences in different locations or who wish to consolidate their living in a high-service development.Las Vegas as a luxury destination has been highlighted in recent media. Realtor.com notes that the difference between entry-level luxury in the L.A. area comes in at $4.19 million. That puts some of Las Vegas’ prime offerings near the L.A. price entry point. When the tax differential between California and Nevada is factored in, a clear path emerges for residents drawn to the Las Vegas lifestyle.Luxury high-rise will play a growing role in the choices available to affluent buyers as land constraints, walkability, and security become higher priorities for a health and wellness conscious buyer population. Cello Tower is the latest answer to these requirements. Located in Symphony Park, with the start of construction imminent, it represents the next phase of Las Vegas luxury development—high-end residential ownership integrated into a walkable urban district with direct access to culture, dining, entertainment, and future retail. For affluent buyers seeking a lock-and-leave lifestyle, that combination of convenience, security, service, and placemaking is becoming increasingly compelling.Luxury Home Highlights · Top MLS sale: 11308 Canyon Pass in The Summit – $25,000,000 · The luxury share is 8.2% of the market year-to-date, compared with 7.4% last year and 0.8% in   2016 · Luxury sales are on pace to meet or exceed last year’s figureHigh-Rise and Luxury Condominiums · The Summit Condominiums is the price-per-square-foot leader for the past 12 months at $4,260 · Waldorf Astoria is approaching $3,000 per square foot, highlighted by an $11.8 million penthouse saleLuxury Homesites · The double-lot sale at 11793 Discovery Canyon Drive in The Summit is the price leader at $18.15 million for 1.81 acres ($10 million per acre) · Astra, a new custom homesite community, had a 1.41-acre homesite trade for $11.75 millionCitations.Las Vegas Is Betting on High Rollers to Fuel a Luxury Real Estate Renaissance  http://susancruz.cbvegas.com/blog/21576/the-luxury-market-forges-ahead-in-las-vegas-outperforming-the-broader-market/ Tue, 22 Sep 2026 09:13:48 -0800 Thus far in 2026, luxury single-family homes defined as those priced above $1 million have recorded 469 closings. That represents an increase of nearly 16% compared to the same period in 2025, even as total market sales are down almost 2%. Luxury transactions now account for nearly 9% of all sales, up from 7.4% last year.At the very top end, the prime segment consisting of homes selling above $3 million now comprises approximately 1% of all transactions. Just five years ago, that figure was only 0.3%. The expansion of this ultra-high-end tier is particularly notable.A common narrative attributes this growth primarily to tax-motivated migration from California. While tax considerations certainly play a role, the broader migration story is more nuanced. Many Californians relocating out of state are moving to places like Texas, which captures 14.1% of outbound moves according to MoveBuddha, often driven by corporate and employment opportunities. Nevada captures a smaller but meaningful share, nearly 5% of California’s outbound moves.Proximity to California is an advantage, but in our experience affluent buyers choosing Las Vegas are not doing so solely for tax reasons. Increasingly, the draw is lifestyle. Residents maintain convenient access to California’s coastal and cultural amenities while enjoying a growing list of local offerings. Wellness-oriented home features such as private spas, fitness spaces, resort-style pools, and expansive outdoor kitchens are highly sought after. Championship golf communities and expanding cultural institutions, including the Smith Center for the Performing Arts and the forthcoming Las Vegas Museum of Art, further enhance the city’s appeal.Topography also plays a significant role. Las Vegas offers dramatic elevation changes that allow builders to create homes with sweeping views of the Strip or the surrounding mountains. Many contemporary designs intentionally integrate with the natural terrain, maximizing view corridors and indoor-outdoor living. In addition, guard-gated communities provide privacy and security, attributes that are especially important to high-net-worth homeowners.In 2026, we have already seen exceptional properties trade at prices as high as $22.5 million, or roughly $3,000 per square foot. There have been seven sales above $10 million in premier communities such as The Summit Club, MacDonald Highlands, Ascaya, The Ridges, and Southern Highlands.In summary, while Nevada’s favorable tax regime remains an important driver, it is no longer the sole explanation for luxury market growth. Las Vegas has developed a luxury housing market that stands on its own, defined not just by tax efficiency but by lifestyle, design, and place.  SINGLE FAMILY HOME SALES EXCEEDING $3 MILLIONSource: LVR.To see more market data on this housing segment, see our Prime Luxury Report for March.Prime Luxury Market Report Migration Data: Californian Invasion: The 10 States California Residents Want to Move to Most in 2026 http://susancruz.cbvegas.com/blog/21468/luxury-home-sales-continue-to-outperform-the-broader-market/ Tue, 07 Apr 2026 09:13:23 -0800 In a city known for its iconic skyline, a new beacon of sophistication and luxury is on the rise. Cello Tower, the first new residential high-rise in Las Vegas in over a decade, is set to redefine urban living in the heart of Symphony Park, the city’s cultural and arts epicenter. Already celebrated in publications like Mansion Global, Wall Street Journal, Robb Report, and Las Vegas Review-Journal, Cello Tower has achieved $85 million in sales, marking it a monumental success in the city’s real estate landscape.Designed by the internationally acclaimed Perkins Eastman and featuring interiors by One Line Design Studio, Cello Tower will anchor the transformative Origin at Symphony Park. With 240 luxury residences, including eight opulent penthouses, Cello Tower is crafted to offer an unparalleled living experience. Patrick Brennan of Red Ridge Development explains, “With its unparalleled design, world-class amenities, and a commitment to creating an exceptional urban living experience, Cello Tower is redefining luxury living in the heart of Las Vegas. It is coming to life at a time when the city is defining itself as one of the best places in the US to live and thrive, and it will stand as a testament to our vision of elevating urban living to new heights.” The meticulously designed residences will serve as sanctuaries of luxury, basking in natural light through expansive floor-to-ceiling windows that offer unparalleled views of the Las Vegas Strip, Downtown Las Vegas, and the majestic mountain vistas. Chef-inspired kitchens with waterfall marble islands are designed for culinary excellence, offering the perfect space for entertaining and everyday gourmet cooking. As Mansion Global noted, “From great rooms with soaring ceilings to expansive windows that frame views of the city and surrounding mountains, Cello Tower is designed for pampered living.” What truly sets life at Cello Tower apart will be its exceptional amenities, spanning over 40,000 square feet. The 25,000-square-foot Residents Club and the 7,000-square-foot Wellness Floor are designed to elevate the living experience. Residents will be able to enjoy a Rooftop Pool overlooking the Strip and Downtown, a Cocktail Bar & Lounge, an Entertainment & Media Lounge, a Golf Simulator Room, and more. The 2nd floor, dedicated to health and wellness, will offer a state-of-the-art fitness studio, a luxurious spa with cold plunges, sauna and steam rooms, massage and treatment rooms, and a tranquil relaxation lounge.Exceptional hospitality will be at the heart of Cello Tower. A dedicated staff in the lobby lounge will ensure an effortless lifestyle, attending to every need with meticulous care. The grand entrance, marked by an illuminated porte cochere and private valet, will seamlessly transport residents from the city’s energy into the comforts of home.Cello Tower’s central location will place residents just steps away from the vibrant promenade of Origin at Symphony Park, teeming with world-class dining, shopping, and entertainment. This cultural epicenter of Las Vegas is home to The Smith Center for the Performing Arts, the DISCOVERY Children’s Museum, and the Cleveland Clinic Lou Ruvo Center for Brain Health. Future developments will include a city art museum, a sculpture park, high-end hotels, new homes, and a wealth of retail and dining establishments.Just moments away, the legendary Las Vegas Strip, thrilling sports events, and stunning natural settings will offer limitless possibilities for recreation and entertainment. The city’s most talked-about artistic and culinary offerings in the Arts & Brewery District and Downtown will ensure that Las Vegas remains a place where every moment is infused with excitement.Prospective buyers and agents can experience the future of luxury living today at the Cello Tower Experience Center, located in Symphony Park at 250 S. City Parkway. Walk through an immersive kitchen and primary bathroom, explore the design studio, and choose your future vantage point. The dedicated team on-site is there to guide you through a tailored experience.Brian Krueger, Senior Vice President of Coldwell Banker Global Luxury, emphasizes, “Cello Tower is a statement of luxury, convenience, and groundbreaking design. We are thrilled to introduce this architectural marvel to those who seek the pinnacle of urban living in Las Vegas.”With residence options at Cello Tower becoming limited, securing a place now ensures exclusive pre-construction pricing. Construction is expected to start in late 2024 with initial estimated completion later in 2026. To learn more, call (702) 272-1668 or email hello@cellotowerresidences.com and arrange an appointment with our sales team. Discover more about Cello Tower at cellotowerresidences.com. http://susancruz.cbvegas.com/blog/21311/cello-tower:-las-vegas’-first-new-residential-high-rise-in-over-a-decade-redefines-urban-luxury-living/ Tue, 20 Aug 2024 12:12:39 -0800 View the inaugural edition of the CBPR Global Luxury Collective digital magazine featuring exceptional properties currently on the market in the Las Vegas area. Schedule a private showing of any of these affluent residences by contacting the sales professional responsible for sharing this blog with you.Global Luxury Collective Listings | June 2020 http://susancruz.cbvegas.com/blog/21171/las-vegas-luxury-listings/ Tue, 23 Jun 2020 01:02:17 -0800 There is always a lot of focus on the single family housing market since it is the largest single segment of the housing stock. But with a sea of lights in the Las Vegas Valley to gaze upon and some world-class amenities, High-Rise is an exciting niche segment. Our High-Rise report illustrates recent price averages for all of the high-rise residences and condo-hotel projects, along with an update on what's new and exciting things happening in the sector.   http://susancruz.cbvegas.com/blog/20987/the-las-vegas-high-rise-market/ Thu, 21 Sep 2017 12:00:00 -0800