What $18 million will buy you: Las Vegas’ most extravagant homes

http://www.vegasinc.com/news/2012/sep/05/what-18-million-will-buy-you-las-vegas-most-extrav/

What $18 million will buy you: Las Vegas’ most extravagant homes




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.