$35M Home Sale in Summerlin’s Summit Club Sets Las Vegas Record
The Las Vegas luxury real estate market just witnessed a record-breaking sale, with an 11,427-square-foot home in The Summit Club selling for $35 million. This transaction not only set a new high for the city but also highlighted the ongoing demand for ultra-luxury properties in Las Vegas.
A Record-Breaking Sale
The sale, which closed on July 30, 2024, surpassed the previous record of $30 million set just a year ago by Celine Dion’s home in the same exclusive community. This time, the property belonged to Patrick and Andrea Ramsey, who originally purchased the lot in 2016 for $2.5 million and built the custom home in 2017. The two-story estate, boasting five bedrooms, seven baths, a six-car garage, and a resort-style pool, stands on a 1.5-acre lot in one of the most sought-after locations in Las Vegas.
While the buyers’ identities remain undisclosed, the sale set a price per square foot record at approximately $3,063, depending on the final square footage calculation.
What Makes The Summit Club So Special?
The Summit Club is more than just a neighborhood—it's a gated community that draws in billionaires, celebrities, and other high-net-worth individuals. The exclusivity, combined with world-class amenities, makes it the crown jewel of Las Vegas real estate.
The allure of The Summit Club goes beyond its properties. With membership fees of $250,000 and annual dues of $110,000, residents are not just paying for a home but for entry into an elite community. This, coupled with the fact that land within The Summit Club can cost up to $10 million per acre, adds a significant premium to property values.
A Testament to Las Vegas’ Growing Prestige
The record-breaking sale is a testament to Las Vegas' increasing appeal as a global luxury destination. At Magenta, we understand the nuances of the Las Vegas market and are here to guide you through these dynamic conditions. Whether you're buying or selling, our expertise ensures you achieve your real estate goals.