At The Summit Club, The Year A Lot Was Bought Can Matter More Than The House On It

What would it cost to build the Summit Club's biggest 2026 sale from scratch? The house on Canyon Pass Drive sold off-market for $25 million in July. It has six bedrooms and 9,857 square feet on about 0.8 acre, and county records show it was built in 2025. The Las Vegas Review-Journal reported that the owner bought the vacant land in February 2021 for $3.9 million.

Summit Club lots of that size no longer sell anywhere near $3.9 million. As of late October 2026, the Summit Club's own listings page asks $14 million for a 0.80-acre custom homesite on Witchcraft Court, about the same size as the Canyon Pass lot. If you add construction to that number, a buyer starting today would likely spend more than $25 million to reach the same house. The finished home sold below that.

Inside the gates, a home's price depends heavily on when someone paid for the dirt under it.

The Lot Timeline Behind A $25 Million Sale

The Canyon Pass house took a long time to build. After the 2021 land purchase, the Clark County Building Department issued a custom-home permit in 2023, and Presti Homes and Developments built the house, which was finished in 2025. The sale closed in July 2026, about five and a half years after the lot purchase.

Mansion Global called it the most expensive home sold in Las Vegas this year. It described a contemporary house whose concrete floors cantilever over covered terraces, a 2,000-square-foot garage and a yard facing the Tom Fazio-designed course. Mansion Global listed the seller as an LLC registered to a McLean, Virginia, wealth management firm. The Review-Journal later traced the deal to the original owner through public records.

The new owner paid for a house that already exists. The seller's cost included land bought in 2021. A buyer starting now would pay for 2026 land plus several years of design, review and construction. On the same 0.8 acre, the land cost alone runs from $3.9 million for the seller to a $14 million asking price for a buyer starting now.

Lot Prices Rose In Steps

The Summit Club's land has been priced in distinct phases, and each phase reset what a new house costs to start.

According to a securities filing cited by the Review-Journal, 202 Summit Club lots had sold by the end of 2021 for almost $822 million combined, an average above $4 million per lot. The 2021 Canyon Pass purchase was a little below that average.

An expansion followed. In 2022, Clark County commissioners approved 28 single-family lots on nearly 58 acres, and a county staff report described it as essentially the last phase of the Summit Club. The developers closed 12 sales there from 2023 through 2025, totaling $134.4 million for 20 acres, an average of $6.7 million per acre. The first sale, in March 2023, was $13.5 million for 1.8 acres. The largest was a 5-acre homesite that sold for $33 million in spring 2023.

These are the homesites the club lists today, as of late October 2026:

These are asking prices, not closed sales. Even so, every listing asks more per acre than the $6.7 million average the expansion lots sold for in 2023 to 2025. Most ask more than double that.

The rest of the valley did not move this way. Las Vegas Realtors reported a September 2026 existing single-family median of $470,000, unchanged from a year earlier, with sales down 7.4% year over year. Summit Club land prices are set by a fixed supply of homesites in a phase the county called the last one, not by valley-wide trends.

Pricing Both 2026 Sales At Today's Costs

The Summit Club's two largest reported 2026 sales can be priced the same way. The construction figure is dated. In December 2024, a Las Vegas luxury broker told the Review-Journal that Summit homes cost about $1,500 per square foot to build, which put a roughly 12,000-square-foot home at $18 million to $20 million. Treat that as an estimate from almost two years ago, not a builder's bid.

• Canyon Pass Drive, sold July 2026 for $25 million. About 9,857 square feet at $1,500 comes to roughly $14.8 million in construction. Add the $14 million asking price on the similarly sized Witchcraft Court homesite and the total is about $28.8 million, before design fees and before roughly four years of waiting.
• 10911 Discovery Peak Court, sold February 2026 for $22.5 million. The Review-Journal reported 11,974 square feet on a little under an acre, a $27 million original list price and a sale price of $1,879 per square foot. At $1,500 per square foot, construction alone would be about $18 million. That leaves roughly $4.5 million of the sale price for the land, about the per-lot average before 2022 and well below any homesite listed today.

The listing agent told the Review-Journal that the buyer got a "good deal." Measured against what a new start would cost, the numbers support that.

Not every finished home follows this pattern. Mansion Global reported that the Summit Club's priciest active listing debuted at $30 million the previous December and was asking $25.9 million by July 2026. Its lot history was not reported. Sellers set asking prices, and the year a lot was bought helps explain how far a seller can come down and still come out ahead.

Price Per Square Foot Mixes Land And House

Discovery Peak sold for $1,879 per square foot. The same listing agent said other Summit Club homes were selling closer to $3,000 per square foot, and the club's penthouse condo sold for more than $4,200. Those gaps say less about finishes than they appear to.

A per-square-foot figure divides land and building by interior space alone. A home on a lot bought in the $4 million era carries a smaller land cost into every square foot than a home on a $10 million or $14 million homesite. Two houses can be built to the same standard and still be priced more than $1,000 per square foot apart because the land under them was bought at different times. A large house on a cheaper lot also spreads its land cost thinner.

The land can also be sold without a house. One owner bought 2.5 acres in 2022 for $15.6 million, pursued plans for a custom home that was never permitted, and sold the parcel for $17.25 million in a sale that closed December 31, 2024. That works out to about $6.9 million per acre, close to the expansion average. Land changes hands here with or without a house on it.

Questions That Show A Home's Lot Basis

These questions help explain where a finished Summit Club home's asking price comes from and how much room it may have:

1. When was the lot bought, and for how much? Clark County property records show the land purchase. A lot bought before 2022 and one bought after the expansion opened belong to different price eras.
2. Who built the house, and who is selling it? Discovery Peak was a new home built and sold by Dallas-based Robert Elliott Custom Homes. A builder selling a finished product prices it differently from an owner who lived in the house.
3. What would a comparable homesite ask today? Compare by acreage, not just by house size. Use current club listings by lot size, keeping in mind that they are asking prices.
4. How long would a new build take? Custom homesites must follow the community's design guidelines, and plans go through architectural review. The Canyon Pass house took about four years from land purchase to completion.

Frequently Asked Questions

Are the current Summit Club homesite prices actual sales? No. The $10 million to $20 million figures are asking prices on the club's listings page as of late October 2026. The most recent reported closed prices are the 2023 to 2025 expansion sales, which averaged $6.7 million per acre.

Is the $1,500-per-square-foot construction cost current? It comes from a broker's estimate reported in December 2024. Costs may have changed since then, so the totals above are approximations, not quotes.

Will more Summit Club land become available? A county staff report described the expansion approved in 2022, with 28 lots on nearly 58 acres, as essentially the last phase. After that, new land comes from homesites resold by their owners.

At Ryan Grauberger, we look up when a Summit Club lot was bought, compare it with what similar homesites ask today, and use that to judge whether a finished home's price is a fair one. If you own in The Summit Club and want to know how your lot's purchase year affects what your home could sell for, request a home valuation and we will run those numbers for you.