Luxury Trends 2017 Year End Market Report from the Market Leader
2017 Year End DicksonLuxury.com Photo courtesy Jeff Dow
COVER PROPERTY FEATURED:
Pine Bluff at Caughlin Ranch built by Homecrafters www.PineBluffReno.com
Welcome
to our 2017 Year End, Luxury Market Report. 2017 has come to a close and we are marching into 2018, in a growing and robust economy. Let’s take a moment to review luxury home sales in Northern Nevada this past year. Home sales over one million dollars were up 52%! Average price per square foot and average sales price rose and inventory decreased. As anticipated the last quarter of the year finished very strong with demand increasing over supply in the price categories of 1 million to 1.6 million. For example, in the 1 million to 1.2 million price range there are currently 28 homes listed with 51 homes sold this past year. By contrast in the very high end, over 2.5 million, 19 homes are listed and 6 sold this past year. In this newsletter we offer some tips for preparing your home for market. Home Buyers in the luxury arena are looking for newer homes with fresh modern interiors. Our cover home this month is a model at the fabulous new Caughlin Ranch, Pinebluff community by Homecrafters. Stop by and visit these beautiful model homes! As we look forward to 2018, on behalf of all of the professionals at Dickson Realty, we would like to express our gratitude for your continued trust in us as your luxury home representatives. As our company has grown over the past 44 years we have learned that markets rise, fall and sometimes even go a little sideways, but our community of agents has remained steady, and ready, to assist you with all of your real estate needs. We hope you enjoy our year end report.
—President & CEO Dickson Realty
2017 vs. 2016 RENO/SPARKS Luxury Home Averages sales over $1 million*
+52%
+8.89% +4.48%
+14.5%
TOTAL HOMES SOLD
AVERAGE SOLD PRICE
AVERAGE PRICE PER SF
AVERAGE DAYS ON MARKET
2017: 144 2016: 95
2017: $1,455,077 2016: $1,336,245
2017: $296.90 2016: $284.18
2017: 237 2016: 207
*Source: Northern Nevada Multiple Listing Service (NNRMLS) transaction volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - December 31, 2017, as of Jan 5, 2018.
Top 5 Luxury Real Estate Companies 2017 Market Share for Reno/Sparks Homes Sold Over $1 Million*
DICKSON REALTY
34.87%
Chase 8.31% Oliver 6.91% Keller Williams Group One 5.8% RE/MAX Affiliates 5.14%
Dickson Realty market share for Reno/Sparks homes sold over $2 Million in 2017 = 46.6%
Luxury Home Sales By Month over $1 million* 2017 vs. 2016 25
2017 2016
26
Units Sold
20
22
15
14 11
11
10
8
7
5
3 JAN
3 FEB
12 13
10
5 APR
MAY
6
5 JUNE
JULY
9 9
9
7
7
5
MAR
13 12
12
AUG
SEPT
OCT
NOV
DEC
*Source: Northern Nevada Multiple Listing Service (NNRMLS) transaction volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - December 31, 2017, as of Jan 5, 2017.
ACTIVE as of Dec 31 SOLD Jan - Dec 2017
29 25 22
20
20
19
16
15
12
10
12
9
7
7
6 5
3 $
1. 0
-1 .
1
1 $ 1.
-1 .
2
$
1. 2
1.3 $
1.3
-1 .
4
$
1. 4
-1 .
5 $
1 .5
1.6
$
1. 6
-1 .
5
7 $
1 .7
11
8
7
1.8
$
1. 8
4 2
4
-1 .
9
9 $
1 .9
2 .0
$
2 .0
2.5
6 $2
.5+
millions of $
60
Months of Inventory Active Listings By Price Range over $1 million*
2017 2016
176 97
50
months of inventory
# Active and Sold
30
40
40 37
30 28 20
17
14
10 7 0 $
1. 0
1 .1
7
3 $
1.1
10
1.2
10
$
1. 2
1.3
7
$
1.3
1. 4
7
$
1. 4
1 .5
1 .5
1.6
24
21
15
15 8
5 $
32
27
21
38
$
1. 6
1 .7
$
-1 1 .7
.8
$
1. 8
-1 .
9 $
1 .9
2 .0
$
2 .0
2.5
$2
.5+
millions of $ *Source: Northern Nevada Multiple Listing Service (NNRMLS) transaction volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - December 31, 2017, as of Jan 5, 2017.
THE AFFLUENT HOMEBUYER: A QUEST FOR MEANING The luxury industry itself has undergone a transformation and today, details that separate elite brands from one another are under intense scrutiny. This reality, marked by ever growing bank accounts for the wealthy, supreme integration of technology and user experience, and a perceived lack of freshness, has created opportunity. Specifically it has opened the door for an emergence of disruptive brands to meet consumer needs with distinct offerings such as luxury homes by-the-night via Airbnb or Black Cars on-demand via Uber. At the same time, the emergence of private label brands, ranging from the indulgent Neiman Marcus cashmere collection, to the commonplace Whole Foods 365 brand are changing the way people evaluate how, where, and when to spend. Together, these trends are enabling today’s affluent consumer to have choices in all facets of their lives, that are plentiful, well executed, and at times, available at a better value than traditional luxury brands have been.
Wealthy Homebuyer Profiles This search for meaning is not limited to finding a real estate professional, it is present in the home buying process as well. The following profiles show that, in fact, differences from the subtle to the dramatic can be found based on the buyer’s price range when comparing three markets, the $1 to $2 million buyer (highlighted below), the $2 to $5 million and the $5 million and above. All three profiles can be viewed in a complete white paper published by Luxury Portfolio, available through Dickson Realty (contact your agent or any Dickson Realty office to obtain the white paper.
The Practical Explorers Wealthy Homebuyer Profile #1: Buyers in the $1M to $2M Price Range Practical explorers want to feel like they are making a smart decision. They have earned significant wealth, and have a relatively long experience with affluence, which makes them diligent shoppers who tend to find a product/ brand they like and stick with it. Their passions focus on family-friendly activities and promoting personal wellbeing. Luxury is not central to their lifestyle.
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog
THE AFFLUENT HOMEBUYER: A QUEST FOR MEANING The Practical Explorers Wealthy Homebuyer Profile #1: Buyers in the $1M to $2M Price Range
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog
THE AFFLUENT HOMEBUYER: A QUEST FOR MEANING Buyer Insight: Loyalty Over Luxury This consumer, though significantly affluent, tends to repeatedly use products and services they have used before, and so they are hesitant to stray far from what they know. 97% I am loyal to certain brands because I know what I am getting 94% My first choice is typically a brand I have purchased before Luxury is not a core part of their vocabulary, so a purchase like a $1M to $2M home, may be seen as indulgent or extravagant. 10% I am usually the first of my friends to adopt new fashion trends 7% I am often the first of my friends to buy the latest luxury products 6% Luxury brands are worth every dime
Buyer Strategy: Trust the Professionals Buyers in this price range tend to rely more on the real estate sales professional to take them through the purchase process. The majority agree, “I am not comfortable purchasing personal residential real estate without the help from an agent (80%).� The Practical Explorer is motivated by emotional connections based on happiness, feeling good, and having fun.
Key Question "What aspects of a home make you happy?"
If you would like to receive a copy of the complete version of the white paper published by Luxury Portfolio, please contact any Dickson Realty office or your Dickson Realty agent to request a copy in the mail or in your email Inbox.
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog
Significant Dickson Realty Sales in 2017
SOLD $3,400,000
Montrêux
Seller Representation by Brooke Sullivan, 775-849-9444 & Buyer Representation by Rob Wonhof, 775-849-9444
SOLD $2,500,000
SW Reno
Seller Representation by Diana Renfroe, 775-843-0777
SOLD $2,450,000
Montrêux
SOLD $2,420,000
Montrêux
SOLD $2,375,000
SW Reno
SOLD $2,295,000
Montrêux
SOLD $2,125,000
Montrêux
SOLD $1,998,000
Montrêux
Seller Representation by Rob Wonhof, 775-849-9444
Seller Representation by Joseph Wieczorek, 775-335-5962
Seller Representation by Don Dees, 775-742-0669 & Buyer Representation by Carlee Ferrari, 775-284-3133
Seller Representation by Brooke Sullivan, 775-849-9444
Seller Representation by Monica Gore, 775-849-9444 & Buyer Representation by Louise Simpson, 775-750-1901
Seller Representation by Monica Gore, 775-849-9444
Significant Dickson Realty Sales in 2017
SOLD $1,850,000
Montrêux
SOLD $1,820,000
Legend Trail
SOLD $1,805,000
Arrowcreek
SOLD $1,800,000
St. James Village
Arrowcreek
SOLD $1,793,000
Eagles Nest
Montrêux
SOLD $1,685,000
Arrowcreek
Seller Representation by Rob Wonhof, 775-849-9444 & Buyer Representation by Carlee Ferrari, 775-284-3133
Seller Representation by Scott Shandrew, 775-850-3113
SOLD $1,800,000
Seller Representation by Christine Fuetsch, 775-284-3107
SOLD $1,734,829
Seller Representation by Monica Gore, 775-849-9444 & Buyer Representation by Bonnie Beck, 775-846-7964
Seller Representation by Diana Renfroe, 775-843-0777
Seller Representation by Joseph Wieczorek, 775-335-5962
Seller Representation by Greta Mestre, 775-560-7500
Seller Representation by Clay Alder, 775-745-5708 & Buyer Representation by Amy DeBaun, 775-300-8654
Significant Dickson Realty Sales in 2017
Montrêux
SOLD $1,658,000
Seller Representation by Rob Wonhof, 775-849-9444 & Buyer Representation by Brooke Sullivan, 775-849-9444
SOLD $1,650,000
Arrowcreek
Seller Representation by Wayne Marken, 775-722-7763
SOLD $1,650,000
Saddlehorn
SOLD $1,600,000
Montrêux
SOLD $1,600,000
SW Suburban Reno
SOLD $1,550,000
Montrêux
SOLD $1,400,000
Old SW Reno
Seller Representation by Colleen Barrett, 775-848-5587
Seller Representation by Bonnie Beck, 775-846-7964 & Buyer Representation by Kevin Bown, 775-813-2387
SOLD $1,485,000
SW Suburban Reno
Seller Representation by Bonnie Lowder, 775-722-1686
Seller Representation by Brooke Sullivan, 775-849-9444
Seller Representation by Brooke Sullivan, 775-849-9444
Seller Representation by M.C. Pierson, 775-742-9442
Significant Dickson Realty Sales in 2017
SOLD $1,389,999
Arrowcreek
Seller Representation by Beau Keenan, 775-338-3388
SOLD $1,365,000
Montrêux
Seller Representation by Rob Wonhof, 775-849-9444 & Buyer Representation by Rob Wonhof
SOLD $1,350,000
SW Reno
SOLD $1,330,000
Montrêux
SOLD $1,325,000
Eagles Nest
SOLD $1,300,000
Montrêux
SOLD $1,300,000
Arrowcreek
Seller Representation by Lori Welsh, 775-771-6574
Seller Representation by Diana Renfroe, 775-843-0777 & Buyer Representation by Lori Welsh, 775-771-6574
SOLD $1,300,000
Buyer Representation by Monica Gore, 775-849-9444
Montrêux
Seller Representation by Rob Wonhof, 775-849-9444
Seller Representation by Brooke Sullivan, 775-849-9444 & Buyer Representation by Brooke Sullivan
Seller Representation by M.C. Pierson, 775-742-9442
Significant Dickson Realty Sales in 2017
SOLD $1,291,875
Arrowcreek
SOLD $1,299,000
SW Suburban Reno
SOLD $1,260,000
Old So Suburban Reno
SOLD $1,250,000
Monte Rosa
SOLD $1,250,000
Old SW Reno
SOLD $1,250,000
MontrĂŞux
SOLD $1,199,000
SW Reno
Seller Representation by Carlee Ferrari, 775-284-3133
Seller Representation by Jeff Giesler, 775-850-7000
Seller Representation by Joseph Wieczorek, 775-335-5962 & Buyer Representation by Rebecca Dickson, 775-742-2120
SOLD $1,225,000
Eagles Nest
Seller Representation by Donna Luchetti, 775-284-3035
Seller Representation by Carol Bond, 775-690-1870
Seller Representation by Diane Macdonald, 775-742-2343
Seller Representation by Rebecca Dickson, 775-742-2120
Seller Representation by Lori Welsh, 775-771-6574
Significant Dickson Realty Sales in 2017
SOLD $1,199,000
Montrêux
SOLD $1,185,000
Old So Suburban Reno
SOLD $1,180,000
Montrêux
SOLD $1,175,000
Montrêux
SOLD $1,150,000
SW Suburban Reno
SOLD $1,150,000
Arrowcreek
SOLD $1,125,000
Eagles Nest
Seller Representation by Brooke Sullivan, 775-849-9444
Seller Representation by Brooke Sullivan, 775-849-9444 & Buyer Representation by Monica Gore, 775-849-9444
Seller Representation by Chris Whitney, 775-772-2253 & Buyer Representation by Chris Whitney
SOLD $1,145,000
Fieldcreek
Seller Representation by Diana Renfroe, 775-843-0777 & Buyer Representation by Colleen Capurro, 775-284-3054
Seller Representation by Rebecca Dickson, 775-742-2120
Seller Representation by Louise Simpson, 775-750-1901
Seller Representation by Scott Shandrew, 775-850-3113
Seller Representation by M.C. Pierson, 775-742-9442
Significant Dickson Realty Sales in 2017
SW Reno
SOLD $1,100,000
Arrowcreek
SOLD $1,095,000
Saddlehorn
SOLD $1,090,000
Arrowcreek
SOLD $1,085,000
Arrowcreek
SOLD $1,075,000
Arrowcreek
Somersett
SOLD $1,065,000
Arrowcreek
SOLD $1,110,000
Seller Representation by Tori King, 775-250-1306 & Buyer Representation by Margie Wonhof, 775-750-5098
Seller Representation by Troy Browning, 775-232-4509
Seller Representation by Carol Bond, 775-690-1870
SOLD $1,069,359
Seller Representation by David Hughes, 775-771-1783
Seller Representation by Carol Bond, 775-690-1870 & Buyer Representation by Louise Simpson, 775-750-1901
Seller Representation by Joseph Wieczorek, 775-335-5962
Seller Representation by David Hughes, 775-771-1783
Seller Representation by Carol Bond, 775-690-1870 & Buyer Representation by Carol Bond
Significant Dickson Realty Sales in 2017
SW Reno
SOLD $1,050,000
MontrĂŞux
Arrowcreek
SOLD $1,000,000
Washoe Valley
SOLD $1,056,942
Seller Representation by Larissa Osborn, 775-848-6579 & Buyer Representation by Kathy Leggett, 775-287-8620
SOLD $1,049,000
Seller Representation by Margie Wonhof, 775-750-5098
Seller Representation by Brooke Sullivan, 775-849-9444 & Buyer Representation by Monica Gore, 775-849-9444
Seller Representation by Joseph Wieczorek, 775-335-5962
Dickson Realty is consistently ranked as one of the largest and most successful real estate companies in the country by REAL Trends 500 and RIS Media Big Broker reports. Our agents are recognized in REAL Trends Best Agents in America and are among The Thousand, a listing of the top agents in the nation. Our award-winning website is a multi-year recipient of the Leading Real Estates of the World Website Quality Certification for demonstrating best practices in website design and internet communications.
Interior Design Trends for 2018 Redecorating your home does not have to be a daunting task. A few small changes can make a space feel like new. If you are hoping to add new touches to your favorite room or completely remodel an area for a more modern look, take a look at our favorite dĂŠcor trends for the coming year.
Warm Neutrals A home should feel welcoming to those that inhabit it. Give your space warmth with neutrals like rich browns and tans. Add to the cozy ambiance with rich lighting from lamps, instead of overhead lighting and coordinating pillows and blankets.
Embrace Bold Colors Since Sherwin Williams announced Oceanside as its 2018 color of the year the color has been seen a wave of popularity and has already been seen in homes around the US. Other shades of blue, reds and oranges have also become a popular way to add a pop of color into the home in 2018. Experiment with a statement wall, pillows or fun accent pieces.
Metal Fixtures
Rustic features are back in a big way. Incorporating old with new is a trend that will be prominent in 2018. Unpolished metals, vintage lights and other metal fixtures give a room character and add interesting conversation pieces into a space.
Article used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
170005579 6825 DE CHARDIN LANE Louise N Simpson 775-750-1901
$3,939,393 430 ANITRA
$2,695,000 5865 LAUSANNE
$2,200,000
170015338 6425 DE CHARDIN LANE Brooke Sullivan 775-849-9444
$2,150,000 170014216 5260 CROSS CREEK LANE Christine Fuetsch 775-284-3107
$1,995,000 170006666 2125 GREENSBURG CIRCLE Susie N McQuaid 775-284-3135
$1,950,000
160014402 1950 HOLCOMB RANCH LANE Joyce M Trombley 775-287-4901
$1,875,000
$1,745,000
$1,685,000
$1,399,000 170014028 2400 MOUNTAIN SPIRIT J.P. Menante 775-691-9831
$4,499,000
Rob Wonhof
170006674 775-849-9444
160010307 2500 OLD RANCH ROAD Larissa M Osborn 775-848-6579
William T Browning
140015612 775-232-4509
170003236 16775 MAGGIE CIRCLE Rebecca A Dickson 775-284-3044
$3,750,000
20203 BORDEAUX DR. Brooke Sullivan
3305 MARIO ROAD Clay Alder
170003823 775-849-9444
140012423 775-745-5708
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$1,350,000
16860 SALUT COURT Louise N Simpson
$1,285,000
15 PRONGHORN CT. M.C. Pierson
170013126 775-750-1901
170008098 775-742-9442
$1,197,000
$1,311,440
170005997
$1,249,900
170008194
1220 SPRINGER COURT Dee A McNeely 775-830-7000
4820 BUCKHAVEN RD Bonnie G Lowder
775-722-1686
$1,295,000
170007602 1015 TAOS RANCH COURT Diana Renfroe 775-843-0777
$1,249,000
2575 KINNEY J.P. Menante
170009339 775-691-9831
170016615 6485 MONTREUX LANE Brooke Sullivan 775-849-9444
$1,195,000 170014440 20605 PARC FORET DR Brooke Sullivan 775-849-9444
$1,185,995 170005724 1760 BOULDER RIDGE TRAIL David M Hughes 775-771-1783
$1,150,000 5160 BELSERA
$1,150,000
$1,150,000 170008250 15040 N TIMBERLINE DRIVE Marilyn K Minor 775-284-3031
Carlee Ferrari
170006749 775-284-3133
125 GREENRIDGE Marilyn C Johnson
170013693 775-284-3113
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$1,149,995 170005731 1760 SHARPE HILL CIRCLE David M Hughes 775-771-1783
$1,100,000
170012730 5700 CEVENNES COURT Chris Whitney 775-772-2253
$1,099,000
$1,049,000
170016060 6400 ZERMATT COURT Rob Wonhof 775-849-9444
$1,049,000
170013641 4101 WHISPERING PINE LOOP Larissa M Osborn 775-848-6579
$1,049,000
$1,950,000
$1,285,000
$1,089,000 170016564 4089 WHISPERING PINE LOOP Larissa Osborn 775-848-6579
1180 W PECKHAM LN Joseph Wieczorek
170009404 775-335-5962
5640 DE MAITRE CT Rebecca Dickson
170013360 775-742-2120
16925 DELACROIX Brooke Sullivan
Multiple Listing Service (MLS), it will receive premium exposure on DicksonRealty.com, the
$1,069,900 180000406 14785 CHARTREUSE CT Janae Scott 775-287-9874
775-849-9444
170007069
3450 DAVIS LANE Cathy Hamel
As soon as your luxury home is listed in the
region’s Number 1 real estate website.
170009752
775-224-1957
7
CAUGHLIN RANCH 775.746.7000
DAMONTE RANCH 775.850.7000
TRUCKEE 530.587.7444
SOMERSETT 775.746.7222
DONNER LAKE 530.587.4811
MONTRÊUX 775.849.9444
PORTOLA 530.832.1700
SPARKS 775.685.8800
DOWNTOWN 775.324.7000
NAKOMA 530.322.3320
DicksonLuxury.com | luxury@dicksonrealty.com
© 2017 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy. If your property is currently listed for sale, this is not intended to be a solicitation.