The Las Vegas Real Estate market is on fire, especially the luxury or high-end market. You can read more about it by visiting this previous post. When comparing value between the western States Nevada and especially Las Vegas beats every market hands down. Not only does a buyer get more home for their money but the property taxes tend to be lower as well. Nevada’s energy costs are reasonable as well. Below you will find a comparison between a luxury 5 Bedroom/7 Bath Home with 7,228 square feet.
The home we will use in Las Vegas is located at 1772 Amarone Way, Henderson, NV 89012. The listing price is $2,349,900. You can find the listing here.
1772 Amarone Way, Henderson, NV 89012
$2,349,900
Discover peace, privacy, & endless entertainment. This custom 2-story estate has it all: 14-seat theater, climate-controlled 600+ bottle wine room, multiple bars, resort-style pool & spa, formal living & dining, private office, disappearing pocket doors, elevator, wiring for smart home, & more! Gourmet kitchen w/stainless Electrolux appliances. Master suite w/balcony, sitting room, heated floors, steam shower, & jetted tub. All bedrooms en suite.
14800 Corona Del Mar, Pacific Palisades, CA
$9,000,000
The first comp home is located in 14800 Corona Del Mar, Pacific Palisades, CA. It is a 5 Bedroom/ 5.5 Bath Home with 7,124 square feet. So this home has one and a half bedrooms and 104 square feet less than the Las Vegas Home. Yet the asking price is $9,000,000.
155 Mayfair Dr, San Francisco, CA 94118
$4,188,000
This home located at 155 Mayfair Dr, San Francisco, CA 94118 is listed for $4,188,000. This home has 5,830 square feet. That is 1,398 less square ft. then our home in Nevada. It is also $1,838,100 more in price. This mid-century home was built in 1953. The Vegas home was built in 2014 which means this home is 63 years older. The Vegas home is built with the latest technology and avoids all the trouble that comes with an older home.
1526 Lakeside Ave S, Seattle, WA 98144
$12,400,000
This home located at 1526 Lakeside Ave S, Seattle, WA 98144, and is listed for $12,400,000. This is 10,050,100 over the asking price of the Vegas home. This home has 4 bedrooms and 6 baths. This is one less bedroom and bath than the home listed in Vegas. This Seattle home has 6,230 square feet which happens to be 998 square feet less than the Vegas home. The Seattle home was built in 1969 making it 45 years older than the Vegas home.
Summary:
In conclusion, you should see the value that the Las Vegas Luxury Real Estate Market has compared to its neighbors. You can get more home for your money. Not only does that mean more bedrooms and more baths it also means more square footage. Buying a home in Las Vegas also most likely means that you will be buying a more modern home with the latest technology. This will also alleviate the headaches that come from an older home. The Las Vegas market also has better tax rates and a friendlier cost of living than its neighbors. I would recommend that you take a look at the luxury market in Las Vegas.
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