By Kirk Kern
For current Skye Canyon residents, the experience for living in the community is priceless.
But for those looking to move into the area, that price may be going up.
Back in October, three homes crossed that million dollar threshold. All three were model homes sold by Toll Brothers on Cielo Canyon Street. The first one sold on Oct. 16 for $1,100,995. It was 3,443 square feet with five-bedrooms and five baths. Two days later, a 3,686 square foot home next door sold for $1,040,000. It was 3,686 square feet with four bedrooms and five baths.
Lastly, on Oct. 28, the third model home in the community sold for $1,175,000. It was 3,626 square feet with five bedrooms and five baths.
“As Skye Canyon graduates into a livable community with local restaurants, and shopping, etc, it will attract a larger buyer pool,” said Billy Alt, a Realtor and Skye Canyon resident. “This in turn will bring in higher end buyers.”
It almost happened earlier than October. In September, another Toll Brothers new build came within $5 of breaking that million dollar barrier. It was a single-story home on Copper Meadow Boulevard that sold for $999,995.
“This market is typical for a master plan,” said Realtor Mitch Fulfer. “There’s always an entry point and an exit point.
“As market moves, so has have those points. It’s a great community.”
Currently, there are five homes in the Skye Canyon market listed at more than $1 million. Three are new builds by Toll Brothers and two more are resales. Two of the new homes are on Rolling Pietra Street and are listed for $1,230,000 (3,481 square feet with five bedrooms and five baths) and $1,033,000 (3,686 square feet with five bedrooms and five baths). The third is on Sequoia Glen Avenue, listed at $1,074,995 (3,249 square feet with five bedrooms and five baths).
The most expensive resale home is on Bismarck Palms Avenue, which is listed by Fulfer. The 3,093-square-foot home has four bedrooms and four baths and is listed at $1,189,302 after a $70,000 price cut on Feb. 16. It has been on the market for 96 days as of Feb. 19. It originally sold in April of 2023 for $842,193.
The other million dollar resale listing is on Powell Springs Drive. It is 3,259 square feet with five bedrooms and five baths and is listed at 1,150,000 after a $100,000 price cut on Jan. 30. It has been on the market for 136 days as of Feb. 19 and originally sold for $800,000 in February 2023.
This price range is still uncommon for this area, with only a handful of the hundred or so homes for sale in the community at $1 million-plus. But Fulfer says it helps to have comps in the area that have sold in that range.
“You can’t compare apples to apples,” he saiid. “It may be a different square footage and floorpan. All those things play into factors. But the fact they passed that million dollar mark helps set our pricing.”
While million dollar homes sometimes take longer to sell, the market for smaller homes is little more healthy.
“We have a healthy, balanced market that’s attracting both buyers and sellers,” said Chelsea Atwell, another Realtor who lives in Skye Canyon. “This stability helps protect your investment and ensures that Skye Canyon remains a desirable place to live for years to come. Residents seek out this community because you get so much more bang for your buck here compared to other master plans, especially West Summerlin.”
Skye Canyon will continue to grow and thrive, Alt said, as more amenities come along. A new police substation is already in the works along with a new skate park and pickleball courts. A Station Casinos project is also slated for down the road. Other master-plans either under way or in the works in the northwest will also spur more retail and commercial projects.