March sets record for Las Vegas luxury real estate
Las Vegas set an all-time record in March for luxury home sales of $1 million and higher, led by an $11.4 million sale in Summerlin that has a mystery buyer, which has a lot of people speculating about their identity.
The March 28 purchase of the home with a $35,000 tub in the master bedroom was the No. 1 sale out of the 196 homes of $1 million and higher sold in March, according to Forrest Barbee, corporate broker for Berkshire Hathaway HomeService California, Arizona and Nevada Properties.
The Hawk Ridge Drive home built in 2018 but not completed until 2021 was listed for $11.9 million before it closed at $11.4 million, according to the Multiple Listing Service. Highlands LLC is listed as the buyer, according to Clark County property records.
The listing agent of the home, Gavin Ernstone, broker-owner of Simply Vegas, won’t comment on the buyer nor provide any details of the sale, in which there was no buyer’s agent, according to the MLS. Ernstone would only say the buyer was represented by an out-of-state attorney.
The previous owners were Mike and Linda Huhn, who were profiled previously by Real Estate Millions.
The Huhns, who sold their Ohio manufacturing business in 2012 and moved to Nevada, sold a mansion in MacDonald Highlands for $11.25 million in late 2020. They bought the Hawk Ridge Drive property in December 2020 for $5.7 million, according to Clark County property records.
In early March, there was buzz on social media that spread among national football writers about then-Green Bay Packers star wide receiver Davante Adams purchasing a home in The Ridges in Summerlin, fueling speculation that he would be a Las Vegas Raider or live in Las Vegas in the offseason. Adams was traded by the Packers to the Raiders on March 17 and signed a five-year contract totaling $141.25 million, averaging $28.5 million per season.
Mike Huhn said he and his family heard the speculation as well, and are curious who bought their home. He said the buyer was represented by someone based in New York.
“When the offer came in it was through an LLC, so we’ve never met the buyer of the house,” Huhn said. “We’re hoping to. Whoever toured the home came when we weren’t there. My son saw it (on social media) and laughed about it. It would be pretty cool if he did buy it. Whoever moved in, moved in a week after we left. We’re still curious and, hopefully, we’ll find out sooner than later.”
Huhn said the home was previously owned by Richard Haskins, the former president of Red Rock Resorts who died in a July 4, 2020, watercraft accident in Michigan. Huhn said the home was about 75 percent to 80 percent complete when they bought it and put in an additional $2 million to complete it.
“It’s a great house and a great value, especially in this market,” Huhn said. “We didn’t make a whole lot or anything on our house (in MacDonald Highlands) so it’s nice to make a little bit when you sell a house. Our neighbors sold for $12.5 million. The market is hot, and you have to cash in when you can.”
The home features two stories, a basement, an eight-car air-conditioned garage, swimming pool and the $35,000 tub in the master bedroom. The home measures 10,609 square feet with four bedrooms and 5½ baths.
“My wife picked out different marbles,” Huhn said. “She put it in the walnut tub. We added technology and automated the house quite a bit. There were no appliances or bath tubs.”
Huhn said they’re looking at living in the Henderson area again, but haven’t made a final decision on a home.
“The inventory is tough,” Huhn said. “There’s not a whole lot to choose from. We’ll find something. We got our eyes on a couple of them. We’ll probably grab one that’s not completed yet, and that way we can finish it out the way we want to. My wife is really good at interior designing and decorating.”
The Huhns former home sits on a three-quarter acre lot, which allows for a proper circular driveway as well as a large, modern, porte-cochere.
“The house is absolutely amazing,” Ernstone said in the listing. “Once inside you’re greeted by the drama of the entry, a three-story floating staircase and the overall warmth, yet industrialist of this unique home. The entertainment and living spaces are second to none.
There’s a huge kitchen and great room with floor-to-ceiling windows all around and a dramatic sliding door, allowing for a perfect transition from the inside to the outside.”
There are two bars, a downstairs theater and game room that opens to the outside. The home has a pool and an air-conditioned pool house.
March luxury record
The 196 of luxury home and condo sales in March surpassed the previous record of 172 in March 2021. It’s a strong showing after January and February each recorded 122 luxury sales each, according to Barbee.
The 440 sales in Clark County during the first quarter surpassed the 367 in the first quarter of 2021 and show the luxury market remains strong despite a low level of inventory of three months, down from five months in February. Luxury sales show no signs of slowing with Barbee reporting there are 284 pending sales of $1 million or more at the end of March.
Las Vegas luxury, especially uber luxury, has come a long way since prior to the pandemic, which has since spurred more people to relocate here from California and other states.
Rob Jensen, broker/owner of the Rob Jensen Co. reported there were 394 sales of $1 million and higher during the first quarter when limited to the Las Vegas Valley, up from 98 in the first quarter of 2019.
The biggest jump is the $4 million and above category with 25 sales, up from four in 2019. There were 24 in 2021.
The March sales show a rise in luxury prices. The average sale was $1.83 million in March, up from $1.72 million in
February. The median price in March was $1.35 million, up from $1.30 million in February, according to Barbee.
As a reflection of the demand, luxury homes sold in March were on the market for 41 days, down from 47 days in February, Barbee reported.
Other top sales in March
■ The No. 2 sale of the month was for $8.5 million on Saint Moritz Drive in MacDonald Highlands in Henderson. Ernstone was also the listing agent for that home of nearly 10,000 square feet, seven bedrooms and 8½ baths.
Built in 2015, the one-story home sits on 1.3 acres. Mark Frye, a Realtor with Simply Vegas, was the buyer’s agent. The SLB Family Trusts and Shawn Byrum Trust are the buyers. The previous owner was listed under BA2008 LLC, property records show.
“There are stunning unobstructed views of the entire city from almost every room in the house,” Ernstone said in the listing. “The backyard is truly a resort-style paradise. There’s an absolutely enormous pool, as well as incredible outdoor entertaining areas all with jaw-dropping city and mountain views. Inside this amazing residence, no stone has been left unturned.”
The floor plan has large bright rooms, a “chef’s dream” kitchen, as well as formal dining, a huge great room, game room, office, gym and movie theater, Ernstone said.
“The master suite doesn’t cut any corners either,” he said. “It’s huge and has an exceptional spa-like master bathroom filled with rich granite. There is also a huge master closet. All of the secondary bedrooms are great sizes, too, and all have large closets and bathrooms en suite.The home even has a 10-car garage that can house a (recreational vehicle) or boat and the property has its own entry gate.”
■ No. 3 on the list is the former Southern Highlands home of Jon Gruden, which sold for $7.025 million. Real Estate Millions previously reported that sale.
■ No. 4 was a sale on MacDonald Ranch Drive in MacDonald Highlands for $6.55 million. The tri-level home built in 2004 measures 11,639 square feet with five bedrooms and eight baths. It sits on a 0.63-acre lot.
The listing said the home has a private courtyard and koi pond. It has an open kitchen, large rooms with floor-to-
ceiling windows. It has a theater room with a stage, two master suites, glass-door elevator and wine cellar. The backyard has miniature golf, a tri-level waterfall pool and two spas and barbecue kitchen.
Zar Zanganeh, broker of The Agency Las Vegas, was the listing and buyer’s agent. John Skandros was the buyer. Sheldon Laube and Nancy Engel Laube were the sellers, according to property records.
■ The No. 5 sale was for $6 million on Boulderback Drive in Ascaya in Henderson. The Blue Heron home was built in 2022 and sits on 0.46 acres. The two-story home with a four-car garage measures 6,287 square feet and has five bedrooms and 5½ baths. It has two fireplaces, wine room, butler pantry and prep kitchen. It has a negative-edge pool and a spa.
It was listed by Kylie Ann Lum of UMRO Realty Corp. Zanganeh was the buyer’s agent.
■ In a high-profile sale, former super middleweight boxing champion Caleb Plant bought a home in Evergreen Creek Lane in Red Rock Country Club in Summerlin for $3.89 million. The home sits along the 13th hole on the Mountain Course.
The three-bedroom home, built in 2003 but extensively remodeled, measures 5,687 square feet.
Bryan Turner of PSI was the listing agent. John Rodriguez of Berkshire Hathaway HomeService Nevada Properties was the buyer’s agent.
PSI Residential-Evergreen LLC was the seller.