Construction continues to ramp up on luxury high-rise condo development in the Henderson hillsides while sales continue for two other developments in downtown Las Vegas that are set to break ground.
The latest developments in the new construction condo market comes as prices continue to escalate in the existing marketplace.
A report released by Applied Analysis shows that the average price of high-rise condos sold in 2026 is on track to have a year-end record and highest price per square foot in history. It was led by a sale at the Waldorf Astoria for $11.8. The unit measures nearly 4,000 square feet with two bedrooms on the 37th floor.
Those existing condo sales continue to decrease with 263 through the first half of the year, down from 293 in the first six months of 2025. There were 339 in the first half of 2024, 405 in the first half of 2023 and 638 in the first half of 2022.
The average sales price during the first half of 2026 was $793, 194. The highest average over the course of a year was $746,676 in 2025. It had a price per square foot of $543, which is being surpassed so far this year with $546.
Henderson
A new condo development in McDonald Highlands in Henderson — the Four Seasons Private Residences Las Vegas — remains on track to be completed by Sept. 1, 2027. The most expensive unit on the market at the Four Seasons is listed for $35 million.
The high-end development, which has secured nearly $700 million in construction financing from J.P. Morgan, Sculptor Real Estate and Morning Calm Management, has $887 million in sales with 145 of 171 residences under a hard contract. There were 20 sales worth $181.3 million so far this year and they expect to sell off the condos by the time the project opens.
“Every single one of these is a hard contract,” said Craig Eddins, executive vice president of the Four Seasons project. “We are well through our options and upgrades so all of our existing buyers have been through the program and able to select their colors and modifications and can choose their hardware and furniture packages.”
There are units available for less than $2,000 a square foot based on the interior space with junior penthouses in the low $3,000s with the highest left in the $4,000-plus per square foot range.
Several condos have been sold in excess of $20 million but the latest on the market is for $35 million. It has 11,767 square feet of living area with an interior of 8,403 square feet. The penthouse has a large patio with a pool and hot tub.
Eddins said the north tower has reached 21 of its 25 stories while the south tower has reached 19 of its 24 stories. They will be topped off by Oct. 1.
“The construction is going well,” Eddins said. “The manpower on the ground has 400 employees, and there will soon be 600. The glass is going to start going in a couple of weeks. As it goes up, the bottom floors get framed out and the exterior finishes are getting done.”
As for the buyers, Eddins said the majority continue to be from out of state or people who have recently moved to Las Vegas. There are greater numbers moving from Washington state where luxury taxes have been hiked. These higher net-worth people are looking at the Phoenix area, Texas and Las Vegas, he said.
“There is such a movement from the state of Washington,” Eddins said. “We’ve had 10 sales from Washington buyers in 2026 alone and 24 in total. They are looking at single-family homes in MacDonald Highlands or Southern Highlands and Summerlin with several purchases in The Summit. I don’t feel anything from the economy. Our buyers are coming with a purpose and a need and are happy with what they are finding based on our sales.”
Four Seasons will formally announce in October that it plans a limited number of single-family luxury homes in the envelope of its condo development and will start going under contract. The homes will be fully serviced and amenitized by the Four Seasons.
There will be two phases of the single-family homes in private enclaves. The first phase will have 14 homes and the second will have seven. Prices haven’t been finalized, but comparable to what the condos are selling for, Eddins said. They will range from 7,800 square feet to 8,800 square feet with some even larger than that with most being single story.
Downtown
Cello Tower in downtown Las Vegas has reported more than $175 million sales to date with penthouses trading for as high as $9 million this year. Vertical construction is expected to start soon with completion in late fall 2028. It will have 240 units.
Midtown Las Vegas broke ground in 2025 for its mixed-use project in the downtown Arts District and will start construction on its residential portion in September with a completion in the third quarter of 2027.
Midtown includes The English Residences — the first Marriott Tribute hotel-condo concept in North America — and Plaza Tower, both offering hotel-style luxury homeownership. Midtown’s master plan also features speakeasies, restaurants, public markets, boutique retail and wellness spaces.
The English Residences is eight stories with 121 units, with 54 percent reserved while the Plaza Tower is 87 with 90 percent reserved.
Matthew Martinez, a Realtor with Berkshire Hathaway Home Services, said the lowest price is $450,000 for the Plaza Tower with the highest price $1.85 million. The highest price in the English Residences is $1.95 million with the least expensive being $725,000.
