Exclusive Insights Into One of Las Vegas’ Premier Luxury Home Zip Codes - by Geoff Zahler
Key Market Metrics – Single-Family Homes
Median Sales Price: $840,000 (+0.6% YoY)
Average Sales Price: $1,053,690 (+3.9% YoY) — Among the very highest in the entire Las Vegas Valley
Homes for Sale: 239 (+86.7% YoY)
Pending Sales: 76 (+38.2% YoY)
Closed Sales: 45 (-11.8% YoY)
Median Days on Market: 35 (+218.2% YoY)
Months Supply of Inventory: 5.1 (+104.0% YoY)
Median Price per Sq Ft: $400 (+4.4% YoY)
Luxury Market Spotlight: Why 89138 Stands Apart
Situated in the heart of Summerlin West, 89138 is more than just a zip code — it’s one of the most desirable residential enclaves in the Las Vegas Valley. From the elevated desert terrain to master-planned communities like The Paseos and Stonebridge, this area combines architectural excellence, privacy, and access to world-class amenities.
In July 2025, the average sales price exceeded $1.05 million, placing 89138 among the top tier of all Las Vegas zip codes for luxury real estate values. This reflects both the scarcity of premium properties here and the sustained demand from affluent local move-up buyers and out-of-state relocations from markets like California, Arizona, and the Pacific Northwest.
Market Dynamics Driving the Numbers
1. Pricing Holds Near Record Highs
Despite a surge in inventory, pricing has remained resilient. The median sales price of $840,000 represents only a modest YoY gain, but stability at this level speaks volumes in a market where supply is expanding. High-end buyers continue to see 89138 as a safe haven for value retention.
2. Inventory Surge — More Choices for Buyers
Active listings jumped nearly 87% year-over-year. This is the largest increase in recent memory for this exclusive area, offering buyers more selection than they’ve seen in years. Communities like Red Rock Country Club (just south in 89135 - Visit Red Rock Country Club ), The Ridges, and the growing Summerlin West villages feed into the buyer pool here. In fact, 89138 is one of the largest growing areas of Summerlin (Actively Selling Villages)
3. Extended Time on Market Signals a Shift
Median days on market climbed to 35, more than tripling from last year. This suggests a more deliberate, strategic buying process—especially in the luxury segment where purchases are lifestyle-driven, not rushed.
4. Balanced Market on the Horizon
With 5.1 months of supply, 89138 is moving toward a balanced market for the first time in years. Sellers who price aggressively still command attention, but the days of multiple offers within 48 hours are fading.
Summerlin - Where lifestyle and luxury meet
If you’re considering a move to Summerlin 89138, you’re buying into:
Proximity to Red Rock Canyon – unparalleled hiking, biking, and scenic beauty.
Top-rated public and private schools – attracting families who value education and community.
Luxury new construction – custom and semi-custom builds that rival the finest homes in Las Vegas.
Access to Downtown Summerlin – dining, shopping, and entertainment minutes from your door. Downtown Summerlin
These lifestyle factors, combined with the area’s architectural standards and master-planned design, are why 89138 continues to attract high-income professionals, executives, and retirees looking for a sophisticated yet relaxed Las Vegas address.
Final Take
July’s numbers confirm that 89138 remains one of the most exclusive and desirable residential markets in Las Vegas. Pricing stability at the $1M+ average level, even amid inventory growth, speaks to the enduring appeal of this zip code for luxury buyers.
For sellers, the strategy is clear: price correctly from day one to stand out in a more competitive field. For buyers, the increased selection presents a rare opportunity to secure a home in one of Las Vegas’ top luxury markets without the frenzy of last year.
For more information on Summerlin homes specifically, view all of Summerlin's active listings here.