Two homes sell for $8.25 million in January
MGM Resorts International CEO Bill Hornbuckle and his wife, Wendy, paid $8.25 million for an Anthem Country Club home in January, tied for the most expensive home sold in 2022.
The Hornbuckle purchase, according to Clark County property records, was one of 122 luxury sales of $1 million or more recorded in January on the Las Vegas Realtor Association’s multiple listings service, followed by Forrest Barbee, Business Broker for Berkshire Hathaway HomeServices. The 122 mark is the lowest number of sales of $1 million and above since 109 were recorded in February 2021.
Real estate agents said demand for luxury homes remains as strong as it has ever been, but a lack of inventory is driving down sales. Barbee reported that there were 221 pending sales of $1 million or more.
The Hornbuckles purchased a one-story home built in 2016 on a 1.38-acre bluff with Strip and mountain views. It measures 8,317 square feet. It has five bedrooms, six bathrooms and a six-car garage with RV height. It also has a casita with a living room and kitchenette.
The house has a private entrance, a circular driveway and a porte-cochere. It is perched atop a secluded cul-de-sac. The home has an open concept floor plan, pocket and corner doors, chef’s kitchen, butler pantry, coffered ceilings, custom moldings, stone fireplaces and a champagne bar. There is an office and a main retreat. The backyard has a resort infinity pool. There is also a living room with sunken fireplace and a kitchen with covered terrace.
Kristen Routh-Silberman, real estate agent with Corcoran Global Living, was the listing agent. Jana Shore of Berkshire Hathaway HomeServices was the buyer’s agent.
“This house has star quality,” Routh-Silberman said. “It set a record for Anthem Country Club selling for $1,055 per square foot. Anthem has never sold over $1,000 in its entire history.
A one-story home at The Ridges in Summerlin tied for the highest rating in January, selling for the same $8.25 million. The buyer is listed as Skybird Trust and Michael C. Crisp as trustee, according to Clark County records. It sits on 0.73 acres and sits on the eighth fairway of Bear’s Best Golf Course. Built in 2016, it measures 8,593 square feet with five bedrooms, five full bathrooms and two powder rooms and a four-car garage.
The home’s listing said it was “designed to entertain and to impress with its floor plan and style, which speaks of luxurious volume and sophistication”. The home features 20-foot tongue-and-groove wood ceilings and a wall of disappearing glass that brings the outdoors into the home for year-round indoor/outdoor living, according to the listing.
“It’s an open floor plan that merges living, cooking, and dining into one breathtaking space for easy living and entertaining,” the listing reads.
Robert Wilner and Kofi Nartey of Simply Vegas’ band Nartey Wilner were the listing agents. Ivan Sher of Berkshire Hathaway HomeServices’ Ivan Sher Group was the buyer’s agent.
“The house has a view of the entire strip, which rarely happens,” Wilner said. “I can’t find anything like it on the market right now. It has a gorgeous backyard and a sizable open floor plan.
The No. 3 sale on MLS was $7.5 million at MacDonald Highlands in Henderson. The Craig M. Brown Separate Property Trust is listed as the buyer, according to Clark County records. Built in 2019 on 0.53 acres, the one-story home measures 8,645 square feet with five bedrooms and seven bathrooms. There is a four storey garage.
The house designed by architect Richard Luke has a wine cellar, a cinema room, a wine and whiskey bar, an office, a billiard games room, a a master bedroom with spa bath and a beauty bar. The kitchen has cascading counters.
The backyard has an infinity pool, a spa, a living room with a built-in fire and an outdoor kitchen with a built-in barbecue. Routh-Silberman was both the listing agent and the buyer’s agent.
“It’s a dropper because it has a great look and feel,” Routh-Silberman said. “It has a ton of amenities with a wine cellar, game room, bar, and movie theater. It’s beautifully done. It has a main wing separated from the guest wing.
Sale #4 was $6.02 million in the hillside community of Ascaya in Henderson and sold by Ascaya. Built in 2021 by Sun West Custom Homes, the one-story home measures 6,318 square feet with five bedrooms, 5½ bathrooms and a four-car split garage. The house has an infinity pool.
Brian and Rosemarie Panish of Los Angeles are listed as buyers, according to Clark County records. Brian Panish is considered one of the best litigators in the United States.
The agency listing agents representing Ascaya are Kirstin Corsetti, Melissa Tomastik, Kylie Lum. Linda Staley of Berkshire Hathaway HomeServices is the buyer’s agent.
Ascaya launched its Accelerated New Homes program in 2021 in which it partners with designer-builders, like Blue Heron and Sun West Custom Homes, on new construction homes that are on the market before completion.
In January, Ascaya said she opened the community’s all-new fast-track home with Blue Heron and is in the planning and design phase of several more — all to open this year.
“This is one of our fast-track homes that we did with Sun West,” Corsetti said. “They built the house and we did the marketing and sales. That’s wonderful. We kept a contemporary desert feel for the community, and it was a nice addition to our inventory.
The No. 5 sale of the month on MLS was $5.26 million at The Ridges in Summerlin. Built in 2015, the two-story home on 0.29 acres overlooks the fifth fairway of Bear’s Best Golf Course. It measures 5,267 square feet with four bedrooms and five bathrooms and a four-car garage. It has a casita with a kitchenette. There is a private courtyard that leads through a swing door into the lobby with Swarovski light fixtures. A vaulted-ceiling great room opens beyond a sunken bar through a motorized door to a rear lot with a heated covered patio, outdoor kitchen, fire pit, pool and spa, according to the Beyond the List. Miele coffee station, the formal dining room features a glass wine cellar with a courtyard vibe, according to the listing. There is an upstairs family room which is set up for a games room, gym or theatre.
Gary Anter of Presenting Vegas was the listing agent. Traci Carzoo of Lusso Residential Sales was the buyer’s agent. 54 SG LLC of Manhattan Beach, Calif., was the buyer, according to Clark County records.
State of the luxury market
Wilner said Las Vegas can’t build luxury homes fast enough to keep up with demand because there are only so many custom lots to build on.
“There is no inventory,” Wilner said. “I don’t know how else to put it. There are several offers, and they sell out quickly and come well above the price for many of them.
On his home which he sold for $8.25 million, Wilner said there were multiple offers.
“I had no idea there were more than five people in the world who wanted to see an $8.25 million home in our market,” Wilner said.
Routh-Silberman said any reduction in sales in January compared to most of 2021 is due to a lack of inventory.
“We could have sold through a lot more homes, but we just don’t have any homes to sell,” Routh-Silberman said. “I’ve sold almost every listing I had. It’s either on hold or just closed. I’m focused on getting listings and bringing new products to market.”
Blue Heron has paved the way for custom homes to be built in the MacDonald Highlands without any buyers in place because demand is so high, Routh-Silberman said. Home prices range between $10.5 million, $11.5 million, and $14.9 million.
“We innovated on three and brought them to market last week,” Routh-Silberman said. “We have to go. The time has come.”
Routh-Silberman said she’s trying to urge customers who are considering selling to put their homes on the market now to take advantage of rising prices. Buyers want a move-in ready home rather than a project that requires work on the kitchen and bathrooms.
“Our declining inventory levels combined with strong demand for sought-after products drove the price up,” Routh-Silberman said. “We only have 361 homes on the market of $1 million and above and 228 on hold.”