Led by an emerging luxury custom-home community in Summerlin called Ascension, Las Vegas homebuilders have sold 47 percent more homes during the first half of 2025 priced at $1 million and higher.
Las Vegas-based Home Builders Research reported there were 334 sales of new homes priced at $1 million and higher during the first six months of 2025, up from 227 from the first half of 2024.
Ascension is clearly the difference in the gap with 142 sales this year through the end of June. There were only two sales in Ascension through the first half of 2024.
Ascension is a joint project of Toll Brothers and the Pulte Group. It’s located between the Summit Club and Mesa Ridge. There were 62 sales in the first three months of the year and 80 in the second quarter, according to Home Builders Research.
Ascension sales are priced from $1 million to $3.1 million.
Pulte and Toll Brothers just had 37 of their sales of $1 million and higher outside of Ascension, showing the importance of the new community.
The luxury new-home market is about to get another boost from Taylor Morrison on its planned newest community Esplanade at Red Rock in Summerlin that will bring on nearly 400 homes of which more than half will be $1 million and higher with some exceeding $2 million.
“We are currently waiting for the city of Las Vegas to finalize the approval of our improvement plans, so that we can proceed with sewer and then water installation,” Taylor Morrison said in a written statement. “This should happen by the end of the month. We anticipate the models breaking ground in the first quarter of next year. The grand opening is scheduled for the second quarter of next year.”
The resort-style community on 88 acres will include a 10,000-square-foot resort amenity complete with a restaurant, bar, spa, fitness center, resort pool and golf simulator. There will be a clubhouse, pickleball courts, pet park and event lawn.
Heritage Homes is also moving ahead with its luxury hillside development in Henderson near MacDonald Highlands that will bring more luxury homes to the marketplace.
Owner Scott Hughbanks will be selling homes starting at $4.2 million. Four homes are under construction for the development, which will have five different projects adjacent to one another for a total of 72 home sites with Strip and valley views. The first is called Alta Vista with eight home sites and be expanded to 14 lots total. The first homes will be completed in early 2026.
Heritage’s luxury homes will be two and three stories with the smallest at 4,200 square feet, and it can build up to 10,000 square feet on bigger lots.
“I think the luxury market is strong because a lot of people are coming out of California,” Hughbanks said. “You aren’t going to have better views at our price point.”
Ascaya in Henderson is moving ahead with its development The Canyon Residences at Ascaya in addition to individual lots sold in the luxury community.
Melissa Tomastik, director of sales for Ascaya, said The Canyon is set for fall move-ins with initial prices ranging from $2.99 million to $4.46 million. Priority reservations are being taken.
The new Blue Heron-designed project is a mix of traditional stacked condos, while others have no shared walls and live like single-family detached homes. They are all considered condos as they have common areas.
“There are unlike anything else in the market right now,” Tomastik said. “They have horizontal architecture and private garages and all expansive single-story floor plans. They are a condo association in the heart of the community — a special enclave.”
The Canyon consists of 51 units and the initial homes range from 3,300 square feet to 4,400 square feet.
“We’re seeing demand because to get into the Ascaya community we have never seen this price point before,” Tomastik said. “To get this level of amenities, especially with a lock-and-leave convenience in the Canyon at that price point is unheard of.”
Overall, Ascaya has 73 completed homes, 27 homes under construction or in permitting and 21 homes in architectural review. More than $27 million in home sites have been sold so far this year. When built out, Ascaya will have more than 300 homes. Lots range in price from about $1 million to $18 million.
“Fifty-eight home sites have just become available and 6½ acres is our largest offering,” Tomastik said. “It’s along the community’s highest ridgeline with unobstructed Strip views.”
Also in Henderson adjacent to MacDonald Highlands, LIVV Homes, a subsidiary of Growth Holdings, plans 96 of what it labels as smart homes that range in price from $3 million to $7 million. The floor plans range from 3,000 square feet to 6,800 square feet.
Steve Escalante, president of global business development with Growth Holdings, said it has completed one home so far. Some 16 homes have been sold and will be completed by the end of the year. He said people are looking for something fresh and new, and the development is the only semi-custom community that’s adding a sense of customization at semi-custom pricing.
“The buyers are from different walks of life,” Escalante said. “Some are local and some are from out of town. Everyone has liked that it’s a net-zero community, and people are gravitating to the design. We’re combining three different interior design packages, which makes it appealing to buyers. If you want something more traditional, you might enjoy our Euro Chic. If you want something more earthy and bohemian, we have our natural Boho. If you want something more modern, we have a modern flair, which is a lot organic but very clean and minimalist. I say it’s Tokyo Zen combined with Miami pop.”
