MGM Resorts International CEO Bill Hornbuckle and his wife, Wendy, paid $8.25 million for an Anthem Country Club home in January, tying 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 and higher recorded in January on the Las Vegas Realtor association’s Multiple Listing Service as tracked by Forrest Barbee, corporate broker for Berkshire Hathaway HomeServices. The 122 mark is the fewest number of sales of $1 million and higher since 109 were recorded in February 2021.
Realtors said demand for luxury homes remains as strong as it ever has but a lack of inventory is leading to fewer sales. Barbee reported there are 221 pending sales of $1 million or more.
The Hornbuckles bought 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 baths and a six-car garage with recreational vehicle height. It also has a casita with a living room and kitchenette.
The home has a private-drive entrance, a circular driveway and porte cochere. It’s perched atop a secluded cul-de-sac. The home has an open-concept floor plan, disappearing and corner pocket doors, chef’s kitchen, butler pantry, coffered ceilings, custom molding, stone fireplaces and champagne bar. There’s an office and master retreat. The backyard has a resort infinity pool. There’s also a sunken fire lounge and covered patio kitchen.
Kristen Routh-Silberman, a Realtor with Corcoran Global Living, was the listing agent. Jana Shore with Berkshire Hathaway HomeServices was the buyer’s agent.
“That house has star quality,” Routh-Silberman said. “It set a record for Anthem Country Club selling for $1,055 a square foot. Anthem has never sold over $1,000 in its entire history.”
A one-story home in The Ridges in Summerlin tied for the top mark in January, selling for the same $8.25 million. The buyer is listed as Skybird Trust and Michael C. Crisp as the trustee, according to Clark County records. It sits on 0.73 acres and is on the eighth fairway of Bear’s Best Golf course. Built in 2016, it measures 8,593 square feet with five bedrooms, five full baths and two half baths and a four-car garage.
The home’s listing said it’s “designed for entertaining and to impress with its floor plan and style, which speaks luxurious volume and sophistication.” The home showcases 20-foot tongue and groove wood ceilings and a disappearing glass wall that brings the outside into the home for year-round indoor/outdoor living, the listing said.
“It’s an open floor plan that melds living, cooking and dining into one breathtaking space for easy living and entertaining,” the listing said.
Robert Wilner and Kofi Nartey with Nartey Wilner Group at Simply Vegas were the listing agents. Ivan Sher with the Ivan Sher Group of Berkshire Hathaway HomeServices was the buyer’s agent.
“The home has a full-Strip view, which rarely happens,” Wilner said. “I can’t find anything like this on the market now. It has a gorgeous backyard and sizable open floor plan.”
The No. 3 sale on the MLS was for $7.5 million in 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 baths. There’s a four-story garage.
The home designed by architect Richard Luke has a wine cellar, movie theater, wine and whiskey bar, office, game-billiard room, master bedroom with a spa bath and beauty bar. The kitchen has waterfall countertops.
The backyard has an infinity pool, spa, sunken fire lounge and built-in barbecue outdoor kitchen. Routh-Silberman was both the listing and buyer’s agent.
“It is a jaw-dropper because it’s got 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 master wing separate from the guest wing.”
The No. 4 sale was for $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 baths and a four-car split garage. The home has a disappearing-edge pool.
Brian and Rosemarie Panish of Los Angeles are listed as the buyers, according to Clark County records. Brian Panish is considered one of the most successful trial lawyers in the U.S.
The listing agents for The Agency representing Ascaya are Kirstin Corsetti, Melissa Tomastik, Kylie Lum. Linda Staley with Berkshire Hathaway HomeServices is the buyer’s agent.
Ascaya launched its Accelerated New Homes program in 2021 in which it partners with design-builders, like Blue Heron and Sun West Custom Homes on new construction homes that are on the market before they’re completed.
In January, Ascaya said it has broken ground on the community’s newest Accelerated Home with Blue Heron and are in the planning and design phase of several more — all to break ground this year.
“This is one of our Accelerated Homes that we did with Sun West,” Corsetti said. “They built the home, and we did the marketing and sales for it. It’s gorgeous. We stuck with a desert contemporary feel for the community, and it was a nice addition to our inventory.”
The No. 5 sale of the month on the MLS was for $5.26 million in The Ridges in Summerlin. Built in 2015, the two-story home on 0.29 acres, fronts the fifth fairway of Bear’s Best golf course. It measures 5,267 square feet with four bedrooms and five baths and a four-car garage. It has a casita with a kitchenette. There’s a private courtyard that leads through a pivot door into the foyer with Swarovski light fixtures. A vaulted-ceiling great room opens beyond a sunken wet bar through a motorized pocketing door onto rear grounds with heated covered patio, outdoor kitchen, fire features, swimming pool and spa, according to the listing Beyond the Miele coffee station, the formal dining room features a glass wine cellar with courtyard ambiance, the listing said. There’s an upstairs family room that’s set up for a game room, gym or theater.
Gary Anter with Presenting Vegas was the listing agent. Traci Carzoo of Lusso Residential Sales was the buyer’s agent. 54 SG LLC of Manhattan Beach, California, was the buyer, according to Clark County records.
State of luxury market
Wilner said Las Vegas can’t build luxury homes fast enough to meet the demand because there’s only so many custom lots on which to build.
“There’s no inventory,” Wilner said. “I don’t know how else to say it. There’s multiple offers, and they’re selling fast and coming in well over the price for many of them.”
On his home that he sold for $8.25 million, Wilner said there were multiple offers.
“I didn’t know there were more than five people in the world that wanted to see a home worth $8.25 million in our market,” Wilner said.
Routh-Silberman said any reduction of sales in January compared to most of 2021 is due to a lack of inventory.
“We could have sold through many more houses, but we just don’t have houses to sell,” Routh-Silberman. “I have sold out of nearly every single listing that I had. It’s either pending or just closed. I’m focused on getting listings and bringing new products to the market.”
Blue Heron has broken ground on building custom homes in MacDonald Highlands without any buyers in place because the demand is so strong, Routh-Silberman said. The homes range in price between $10.5 million, $11.5 million and $14.9 million.
“We broke ground on three and put them on the market last week,” Routh-Silberman said. “We got to go. Now is the time.”
Routh-Silberman said she’s trying to push clients who are considering selling to put their homes on the market now to take advantage of the escalating prices. Buyers want a home ready to move in rather than a project needing working on the kitchen and bathrooms.
“Our declining inventory levels combined with the high demand of desirable products has pushed the price point up,” Routh-Silberman. “We only have 361 houses on the market of $1 million and higher and 228 pending.”