The property market in Las Vegas may be recovering from its hangover, new data suggests. The median price of existing homes sold in June was $220,000, up 10.1% compared with the same period in 2014, according to a report from the Greater Las Vegas Association of Realtors (GLVAR). The median price of condominiums and townhouses sold in the same month rose 5.5% over the previous year. Agent Jill Lorenz of Berkshire Hathaway HomeServices Nevada Properties is encouraged by this growth. “Las Vegas was hit particularly hard during the recession,” she said. “Our economy is finally recovering.” A total of 3,693 residential properties were sold in June, up 12.8% over the previous year, according to the report. The city’s prime property market is also showing signs of improvement. More than 150 residences in Southern Nevada, which includes the Las Vegas Valley, sold for $1 million or more in the first six months of the year, according to GLVAR. In 2010, when the market was at its lowest, only 157 homes were sold at this price point. “Million-dollar home sales have rebounded since the Great Recession, but are only about half way back to peak sales levels,” said George McCabe, a spokesman for the association. Lorenz attributes this growth to rising incomes and the improved economic status of many Las Vegas residents. “We not only have a lot of upward mobility in the city, but people are looking to buy second homes here as well,” she said. Here’s a look at what’s on the market in Las Vegas. These five properties, all listed on Mansion Global, range in price from about $2.8 million to $28 million.
Enclave Court, $28 million:
Known as the Rameses Estate, this 13,200-square-foot residence is located on a private golf course in the gated community of Country Club Hills. The home includes six bedroom suites, a screening room and formal gardens. Agent: Kristen Routh Silberman, Synergy Sotheby’s International Realty. View full listing.
Sable Ridge Court, $12.5 million:
With five bedrooms and nine baths, this modern, three-floor estate features a wine cellar, a swimming pool and a bowling alley, among other amenities. Agent: Jill Lorenz, Berkshire Hathaway HomeServices Nevada Properties. View full listing.
Painted Feather Way, about $8.5 million:
At more than 9,800 square feet, this contemporary home includes five bedrooms, eight baths, a gourmet kitchen and a screening room. The estate features a covered terrace and an infinity-edge pool that overlooks the neighboring golf course. Agent: Florence Shapiro, Berkshire Hathaway HomeServices Nevada Properties. View full listing.
Dean Martin Drive, about $4 million:
With more than 4,300 square feet of indoor and outdoor living space, this five-bedroom penthouse includes 3½ baths, a gourmet kitchen and a terrace with views of the Las Vegas strip. Building amenities include poolside cabanas, a fitness center and a yoga studio. Agent: Kristen Routh Silberman, Synergy Sotheby’s International Realty. View full listing.
South Las Vegas Boulevard, about $2.8 million:
Located in the Mandarin Oriental hotel, this nearly 3,000-square-foot corner residence includes two bedrooms, 1½ baths and views of the city. The furnishings will be included in the sale. Agent: Isaac Moore, Synergy Sotheby’s International Realty. View full listing. Listings on Mansion Global as of July 9, 2015 Write to Gina Faridniya at gina.faridniya@dowjones.com