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Take a look at the extreme ends of Las Vegas’ housing market

Updated January 15, 2022 - 11:10 am

With cheap money fueling a buying binge, Las Vegas’ housing market accelerated to record speeds last year.

Houses sold rapidly, prices hit new all-time highs practically every month, and the region saw a record number of resales, as rock-bottom mortgage rates let buyers stretch their budgets.

All told, the median sales price of previously owned single-family homes — the bulk of the market — was a record $425,000 in December, up 23 percent from a year earlier, according to trade association Las Vegas Realtors.

As reported by the association, here’s a look at the two extreme ends of Southern Nevada’s market in 2021: the priciest, and the cheapest, single-family home sales of the year.

685 Dragon Peak Drive, Henderson

Billionaire Anthony Hsieh, founder of mortgage firm LoanDepot, bought this newly built mansion in the Henderson foothills for $25 million, the most expensive home purchase ever recorded in Southern Nevada.

The sale, by luxury builder Blue Heron, closed in June.

The three-story, 15,000-square-foot home in the wealthy MacDonald Highlands community includes two infinity saltwater pools, a glass wine-storage wall, a sky lounge, a DJ booth, a catering kitchen and an elevator, a listing stated.

The house, according to Blue Heron, “is a design-lovers dream and Instagram paradise.”

Blue Heron founder Tyler Jones previously confirmed that Hsieh leased the house back to Blue Heron, allowing the firm to keep using it as a “show” home.

Hsieh’s purchase price shot past Southern Nevada’s previous record of $17.55 million, set in 2016 by David Copperfield.

The famed magician bought a four-story, steel-and-concrete Summerlin mansion that came with a gym, a nightclub, a golf simulation room, two commercial elevators, a movie theater and two guest homes.

3305 Ernest St., North Las Vegas

This small, boarded-up house near the North Las Vegas Airport traded hands in November for just $57,000.

Property records indicate that the buyer, using a limited liability company, purchased the home through a probate case.

The one-story house was built in 1967, spans 1,010 square feet and sits on a 0.24-acre lot, a sizable parcel compared with typical tract houses around the valley.

And, in true Las Vegas fashion, the home has already been flipped. The buyer sold it last month to an investor for $70,000, county records indicate.

Its neighbors include a foreclosed house that is boarded up and sits on a nearly half-acre lot.

As seen on Zillow, that fire-damaged home was listed for sale this week and already landed a buyer.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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