Toll Brothers reports that more than half of the 40 single‑family homes in its new Venado Valley community in Carson City, Nevada, have sold, with 20 or more units off‑market as of November 20, 2025. The milestone was reached within just over six months of the model‑home grand opening on May 17, 2025, indicating a brisk sales pace for a luxury builder in a new market.
Venado Valley homes range from 2,129 to 2,337+ square feet and feature 3 to 4 bedrooms, 2.5 to 3.5 baths, and 3‑car garages. Prices start in the upper $600,000s, positioning the community as a premium option for buyers seeking spacious, modern designs in a small‑town setting with convenient access to Carson City’s downtown amenities.
The sales center and model home are open daily at 1693 Venado Valley Circle, and a Design Studio allows buyers to customize finishes and layouts. The builder’s emphasis on personalization is part of a broader strategy to differentiate its luxury homes in competitive markets.
Nevada’s housing market has benefited from rapid growth in technology, data‑center, and logistics sectors, creating a steady stream of high‑income residents. Toll Brothers’ expansion into Carson City aligns with the state’s broader trend of affluent migration from the Bay Area and other high‑cost regions.
The Venado Valley milestone echoes success in other Toll Brothers projects, such as the Ascension community in Las Vegas, which has also seen strong demand for its luxury homes. The company’s focus on “margin over volume” has allowed it to maintain pricing power while scaling new developments in high‑growth markets.
Toll Brothers’ Q3 2025 earnings reflected a $3.73 EPS beat of $0.13 over consensus and a $2.9 billion revenue beat of $40 million. The earnings beat was driven by disciplined cost management and a favorable mix of high‑margin luxury sales, offsetting modest increases in construction and labor costs.
Division President Donna O’Connell said the community’s “tranquil small‑town living” and proximity to Carson City’s historic downtown have resonated with buyers, and she highlighted the design‑studio experience as a key differentiator for the brand.
The 50% sales milestone strengthens Toll Brothers’ pipeline in Nevada, supports its strategy of expanding into high‑growth markets, and provides investors with a tangible indicator of the company’s ability to generate demand for its luxury homes in a new geographic region.
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