March 27, 2025
NSB’s Private Bank Report Highlights Trends for Nevada’s Luxury Real Estate Neighborhoods
LAS VEGAS – The Private Bank by Nevada State Bank released the latest edition of the High Net Worth Report series today. Issue 2 of 2025 provides insights into the luxury housing markets in Southern and Northern Nevada. Included in this issue is a summary of general trends in key housing market indicators such as price, sales, and region, along with a focused look at the top-selling neighborhoods for luxury homes in 2024.
Highlights from the issue include:
- In Southern Nevada, luxury home sales totaled 2,168, maintaining the annual sales volume seen since 2021. A rise in sales of homes priced at more than $3.0 million drove up the average luxury home sales price 3.1 percent from 2023 to $1.9 million.
- Summerlin and Henderson, respectively, made up 35.5 percent and 26.5 percent of the total luxury sales in Southern Nevada, with average sales prices of $2.1 million and $2.0 million. The Resort Corridor logged the highest average price in Southern Nevada, with an average of $2.3 million among its 54 sales.
- In Northern Nevada, volume held steady with 746 sales in 2024, four more than in 2023. The average price dropped by over $100,000 year over year, from $2.0 million in 2023 to $1.9 million last year, as sales volumes at the higher end declined.
- The New Southwest continued to produce the largest regional volume of luxury sales with 278 in 2024, or 37.2 percent of luxury sales in Northern Nevada. This region also had the second-highest average price of $1.8 million. Incline Village recorded the highest average sales price of $3.0 million.
“The stability in Nevada’s luxury home market is reassuring amid the ongoing environment of elevated mortgage rates,” said James Rensvold, Executive Vice President and Director of Private Banking. “While interest rates may be tempering sales in the luxury market, migration from around the nation, and especially California, has provided steady demand as new residents look to establish roots in some of Nevada’s most desirable neighborhoods.”
The Private Bank’s High Net Worth Report is available on Nevada State Bank’s website at www.nsbank.com/HNWreport or by contacting The Private Bank directly at 702-855-4596.
About Nevada State Bank (@nevadastatebank)
Nevada State Bank is a full-service bank offering a complete range of consumer, private, and business banking services, as well as wealth management services, with a robust statewide branch network. Nevada State Bank’s colleagues regularly volunteer in their communities and have been dedicated to helping make Nevada a better place to live for the last 65 years. Zions Bancorporation, N.A. is included in the S&P 400 MidCap and NASDAQ Financial 100 indices (NASDAQ: ZION).
For more information on Nevada State Bank, visit www.nsbank.com.
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