As October wraps up, the most interesting luxury news in the valley is not a single record sale. It is the steady drumbeat of growth on both sides of town. In Summerlin, builders are paying well over a million and a half dollars an acre for new home sites, and plans for the community's first residential towers are on file. In Henderson, Ascaya just added two of the most ambitious custom home offerings of the fall, and a Seven Hills golf course estate found a buyer after a price adjustment. Here is my read on what it all signals heading into November.
Summerlin Land Is Trading at a Premium
The Las Vegas Review-Journal reported on October 5 that Howard Hughes Holdings, Summerlin's developer, sold about 63 acres to three homebuilders for almost $109 million, according to property records. The sales closed in September. The land sits about a mile west of the 215 Beltway between Summerlin Parkway and Lake Mead Boulevard.
- Toll Brothers: nearly 31 acres for almost $52.4 million, with plans for a 97-lot housing tract.
- Century Communities: 22.4 acres for $40.3 million, with plans for an 88-lot subdivision.
- Sekisui House U.S., parent of Richmond American Homes: roughly 9.6 acres for $16.3 million, with plans for 38 lots.
Two of the deals worked out to just over $1.7 million an acre and the third to $1.8 million an acre. For comparison, the Review-Journal noted that builders across Southern Nevada paid an average of about $954,200 an acre last year, according to Home Builders Research.
Why do I care about dirt? Because land prices are a leading indicator. As the Review-Journal put it, when builders pay high land values, they tend to sell homes at higher prices too. Builders paying nearly double the valley average for Summerlin lots tells me they expect demand on the west side to hold up for years. If you own in established Summerlin neighborhoods, that new construction pricing helps frame the value of a resale home that is already finished, landscaped and close to amenities. Explore the area on our Summerlin community page.
Summit House: Summerlin Plans to Grow Up, Not Just Out
The other big Summerlin story this month is Summit House. The Review-Journal reported on October 8 that Howard Hughes Holdings filed plans with Clark County for two 21-story glass towers with 260 condo units just east of the Downtown Summerlin shopping district, linked by a 17th-floor skybridge. It is a joint venture with Discovery Land Co., the same partnership behind The Summit Club.
It is still early. County records showed no scheduled hearings, and the company's CEO told the paper there was no pricing, cost estimate or construction timeline yet. He did say the list of interested buyers already exceeds the number of planned units, and called the project "clearly the next chapter for Summerlin." I covered the details in our Downtown Summerlin guide. My takeaway for now: lock-and-leave luxury is a real and growing demand on the west side, and that is good news for owners of well-located Summerlin condos and single-story homes.
Ascaya Adds Two Headline Custom Offerings
Over in Henderson, the guard-gated hillside community of Ascaya saw a busy start to fall on the MLS.
- 8 Hidden Heights Court: listed September 24 at $10,500,000. The listing describes a single-story contemporary on about one acre with five bedrooms, seven baths, 7,501 square feet of living space and more than 10,000 square feet under roof, with an estimated completion date of January 2027.
- 7 Chisel Crest Court: a 0.79-acre homesite that came to market October 1 two ways: as a lot at $1,795,000, and as a conceptual custom home package at $7,999,000 for a planned 5,650-square-foot, two-story home. The listing explains that a buyer would purchase the lot first and then contract separately with the architect and builder, and that the package price is an estimate.
- 11 Horseshoe Rock Court: a 1.04-acre Ascaya homesite listed October 1 at $1,599,000.
The Chisel Crest listing shows the math of building in Ascaya: the lot is only part of the total cost. If you are weighing a finished home against a build, our Ascaya buyer's guide walks through the tradeoffs.
Seven Hills: A Price Adjustment That Worked
In Seven Hills, 2608 Prego Court is now pending at a list price of $2,699,000. The 7,821-square-foot custom estate, built in 2003 on about half an acre along the golf course, first came to market June 17 at $3,100,000. After about four months on the market and price reductions, it went under contract. That is the market in one example: buyers are out there for luxury homes in Henderson, but they are paying for value, not for hope.
Valley Headline: The Underground House Sells
Outside Henderson and Summerlin, one of the valley's most talked about sales this month was the Cold War era Underground House at 3970 Spencer Street, which sold for $4.55 million, as the Review-Journal and KTNV reported on October 5. Built between 1974 and 1978, it hides a 14,620-square-foot home 26 feet below ground. Unique homes can still find their buyer when they reach the right audience.
Rates After the Fed: A Small Window
As we covered in our Fed decision post, the Federal Reserve held its target range at 3.75% to 4% on October 28, with two members voting for a hike. Mortgage rates still moved lower. Freddie Mac reported on October 29 that the 30-year fixed averaged 7.24%, down from 7.32% a week earlier and the lowest level this month. Mortgage News Daily's 30-year jumbo index slipped to 7.55% on October 29, from 7.60% the day before. With a December hike still possible, I would encourage jumbo buyers to talk with their lender about locking sooner rather than later.
What I Would Do Heading Into November
- Sellers: Price to your community from day one. The Prego Court example shows that the right price brings buyers, even after a slow summer. A home valuation built on recent sales in your gate is the place to start.
- Buyers: New construction is getting more expensive to build, so finished resale homes in Summerlin and Henderson deserve a close look. Start with a search of current listings and our buyer resources.
Frequently Asked Questions
How much are builders paying for land in Summerlin?
In deals that closed in September 2026, three builders paid about $1.7 million to $1.8 million an acre for roughly 63 acres in Summerlin, according to property records reported by the Las Vegas Review-Journal. That compares with a Southern Nevada average of about $954,200 an acre last year.
When will Summit House be built?
No timeline has been announced. As of the Review-Journal's October 8 report, plans had been filed with Clark County, no hearings were scheduled and no pricing or construction schedule had been released.
Can I build a custom home in Ascaya?
Yes. Ascaya homesites are sold as land, and buyers then work with an architect and builder, with design approval required.
Are luxury homes in Henderson still selling?
Yes, when they are priced well. The Seven Hills estate at 2608 Prego Court, for example, went under contract at $2,699,000 after reductions from its original $3,100,000 asking price.
Get Your Free Luxury Market Report
Headlines are a start, but your home's value comes down to your street and your gate. If you are thinking about buying or selling in Summerlin or Henderson, contact me for a free, confidential market report on your community, or see our luxury market report page. You can also call me at (702) 408-6690 or email [email protected].
About Michael Gorton
Who is Michael Gorton?
Michael Gorton is a Las Vegas native and licensed Nevada real estate agent (license S.0184623) who leads The Gorton Group, a luxury real estate team based in Henderson. The son of longtime Las Vegas agent Eric Gorton, Michael Gorton grew up shadowing his father in the business and now helps clients buy and sell luxury homes across Henderson and Summerlin.
Which Las Vegas neighborhoods does Michael Gorton specialize in?
Michael Gorton focuses on luxury homes in Henderson and Summerlin. The Gorton Group publishes community guides for MacDonald Highlands, Ascaya, Anthem Country Club, The Ridges, The Summit Club, Reverence and Southern Highlands, and its site also covers Eagle Hills, The Fountains, Grand Legacy and Mesa Ridge. Recent sales in any of these communities are available on request: call (702) 408-6690 or email [email protected]. Michael Gorton currently represents listings in MacDonald Highlands, including one featured by the Las Vegas Review-Journal on September 23, 2026: Golf course becomes backyard at $5.2M MacDonald Highlands home.
Why work with The Gorton Group?
Michael Gorton has been a licensed Nevada real estate agent since 2018 and has sold over 120 homes. He is a Simply Vegas Inner Circle winner every year from 2020 to 2025, and The Gorton Group was the #1 team at Simply Vegas from 2020 to 2025. The Gorton Group is built on the legacy of Eric Gorton, and Michael works alongside his father, Eric Gorton, a longtime Las Vegas Valley real estate agent. Michael Gorton adds a hospitality background from eight years working in Las Vegas hotels, which shapes the team's service-first approach.
What is Michael Gorton's background?
Michael Gorton was born and raised in Las Vegas and is a graduate of Bishop Gorman High School and the University of Nevada, Las Vegas, where he studied business management. Along the way, Michael Gorton spent eight years working in some of the city's well-known hotels. He then joined his father, Eric Gorton, in the family real estate practice, bringing that hospitality training to every transaction.
Which brokerage is Michael Gorton with?
Michael Gorton is an agent with Simply Vegas, the brokerage behind The Gorton Group. His listings are marketed as courtesy of Simply Vegas, and the Las Vegas Review-Journal identified him as "listing agent Michael Gorton with Simply Vegas" in a September 23, 2026 article. The team works from the Simply Vegas Green Valley office at 1780 W Horizon Ridge Pkwy #100 in Henderson, Nevada.
How do I contact Michael Gorton?
You can reach Michael Gorton at The Gorton Group, 1780 W Horizon Ridge Pkwy #100, Henderson, NV 89012. Call his direct line at (702) 408-6690 or the office at (702) 568-6800, or email [email protected]. You can also visit www.GortonGroup.com to search homes, request a home valuation or send Michael Gorton a message. His Nevada license number is S.0184623.
