With cheap money fueling a buying frenzy, the Las Vegas housing market accelerated to record speeds last year.
Homes sold quickly, prices hit new all-time highs virtually every month, and the area saw record resales as low mortgage rates allowed buyers to stretch their budgets.
In total, the median selling price of previously owned single-family homes — the bulk of the market — was a record $425,000 in December, up 23% from a year earlier, according to the Las Vegas trade association. Realtors.
As the association reports, here’s a look at both ends of the Southern Nevada market in 2021: the year’s highest and lowest single-family home sales.
685 Dragon Peak Drive, Henderson
Billionaire Anthony Hsieh, founder of mortgage company LoanDepot, bought this newly built mansion in the Henderson foothills for $25 million, the most expensive home purchase ever in southern Nevada.
The sale, by luxury builder Blue Heron, was completed in June.
Three-story, 15,000-square-foot home in affluent MacDonald Highlands community features two saltwater infinity pools, glass wine storage wall, sky lounge, DJ booth, catering kitchen and an elevator, SEO declared.
The house, according to Blue Heron, “is a design lover’s dream and an Instagram paradise.”
Blue Heron founder Tyler Jones previously confirmed that Hsieh had re-rented the house to Blue Heron, allowing the company to continue using it as a “show” house.
Hsieh’s purchase price exceeded Southern Nevada’s previous record of $17.55 million, set in 2016 by David Copperfield.
The famed magician purchased a four-story steel and concrete Summerlin mansion that included a gym, nightclub, golf simulation room, two commercial elevators, a movie theater and two guest houses.
3305 Ernest Street, North Las Vegas
This tiny gated house near the North Las Vegas airport was traded in November for just $57,000.
Property records show that the buyer, using a limited liability company, purchased the home through a probate case.
The one-story home was built in 1967, spans 1,010 square feet and sits on 0.24 acres of land, a sizeable lot compared to typical homes around the valley.
And, in true Las Vegas fashion, the house has already been flipped. The buyer sold it last month to an investor for $70,000, county records show.
Its neighbors include a foreclosed house that is condemned and sits on nearly half an acre of land.
As seen on Zillow, this fire-damaged home went up for sale this week and has already landed a buyer.