Luxury Trends 2016 Year End Market Report from the Market Leader
2016 Year End
DicksonLuxury.com
COVER PROPERTY FEATURED:
6340 Mormon Tea Way, Reno NV 89511 $2,280,000 MLS #160012974
Welcome TO OUR 2016 YEAR END, LUXURY MARKET REPORT. Happy New Year! As we look forward to 2017, let us first reflect on the market in 2016, for luxury homes. In this last quarter newsletter we have added a few statistics that you may find interesting. First, 2016 ended very much like 2015, in terms of sales over $1 million. We saw slight decreases in average sales price and price per square foot, and the total number of sold units was just under 100 for both years. Consistently throughout 2016, more than half of the sales over $1 million were between $1 and $1.5 million. In one of our new charts, we thought it would be helpful to show the sales in increments of $100,000. Notably, the most sales occurred between $1 and $1.1 million. That segment is actually undersupplied! Homes listed for more than $2 million are still experiencing low activity and high inventories. So, what does this tell us about 2017? Although interest rates are expected to rise this year, the proposed tax restructuring and robust stock market will likely offset those increases. We anticipate the coming year to be stable, and the sales to be similar or slightly improved over 2016. The very top end of the luxury market is still under downward pricing pressure with the highest amount of inventory. Now more than ever it is important to use the skills of a real estate professional specializing in luxury home sales. Our highly trained, experienced agents are here to assist you whether buying, selling or both!
—President & CEO Dickson Realty
January - December 2016 vs. 2015 Luxury Home Averages sales over $1 million*
3
-9.18%
-1.31%
-29.59%
TOTAL HOMES SOLD
AVERAGE SOLD PRICE
AVERAGE PRICE PER SF
AVERAGE DAYS ON MARKET
2016: 95 2015: 92
2016: $1,336,245 2015: $1,471,240
2016: $284.18 2015: $287.94
2016: 207 2015: 294
*Source: Northern Nevada Multiple Listing Service (NNRMLS) transaction volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - December 30, 2016, as of January 10 2017.
Top 5 Luxury Real Estate Companies 2016 Market Share for Reno/Sparks Homes Sold Over $1 Million*
DICKSON REALTY
36.12%
RE/MAX Affiliates 9.87% Chase International 8.46% Ferrari-Lund 4.95% Coldwell Banker Select 3.57%
Luxury Home Sales By Month over $1 million* 2016 vs. 2015 20
2015 17
2016
Homes Sold
15 13 11
10 8
10 7 7
5 3 JAN
10
9
7 4
12
7 7 5
5
MAY
JUNE
6
10
8
9
6 4
2 FEB
MAR
APR
JULY
AUG
SEPT
OCT
NOV
DEC
"What time of the year is best for listing my home?" That is a frequently asked question and the answer is illustrated by the chart above. Many people assume that spring is best, but keep in mind that is when inventory tends to peak and there is more competition. The sales month-over-month tend to be consistent throughout the year with some peaks in the summer. So, the time is now! *Source: Northern Nevada Multiple Listing Service (NNRMLS) transaction volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - December 30, 2016, as of January 10, 2017.
Sold Luxury Homes By Price Range over $1 million* 2016
30
30 32
Sold Homes
29
20
10
15 14 8
14
13
10 7
9
9 8
8
20 18 10
8 9
6 5
4 3
3
1
4
2
+ 1 . 2 1 . 3 - 1 . 4 - 1 . 5 - 1 . 6 - 1 . 7 1 . 8 - 1 .9 2 . 0 2 . 5 2 . 5 .1 0 $1.1 - 1. 2 - $ 1 . 3 1. 4 $ 1 . 5 $1. 6 $ 1 .7- $1. 8 1 .9 - 2 .1 - $ $ $ $ $ $
+ 2 5 7 8 9 0 -1 . 1 . 3 1 . 4 -1 . 1 . 6 -1 . 1 . -1 . 2 . 2 . 5 2 . 5 .1 0 $1.1 1. 2 - 1 . 3 - 1. 4 1 . 5 - 1. 6 $ 1 .7- 1. 8 1 .9 - 2 .1 - $ $ $ $ $ $ $ $ $ $
millions of $
millions of $
1 .1
1 .1
Months of Inventory Active Listings By Price Range over $1 million*
months of inventory
Active Listings
Active Luxury Homes By Price Range over $1 million*
176
150
97
100
50 3 10
21
28 14
17
27
37 32
40
+ 9 0 1 4 5 6 - 1 . 1 . 2 1 . 3 - 1 . - 1 . - 1 . - 1 .7 1 . 8 - 1 . 2 . 2 . 5 2 . 5 .1 0 $1.1 - 1. 2 - $ 1 . 3 1. 4 $ 1 . 5 1. 6 $ 1 .7- $1. 8 1 .9 - 2 .1 - $ $ $ $ $ $ $
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 30, 2016, as of January 10, 2017.
Significant Dickson Realty Sales in 2016
SOLD $2,500,000
Seller Representation by Dickson Realty
SW Suburban Reno
SOLD $2,050,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,700,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,532,500
Seller Representation by Dickson Realty
Old SW Reno
Montrêux
Galena Forest
SOLD $2,450,000
Seller Representation by Dickson Realty
SOLD $1,750,000
Seller Representation by Dickson Realty
SOLD $1,525,000
Seller Representation by Dickson Realty
SOLD $1,510,000
Seller & Buyer Representation by Dickson Realty
Montrêux
Arrowcreek
Montrêux
Montrêux
Significant Dickson Realty Sales in 2016
SOLD $1,562,000
Seller Representation by Dickson Realty
SOLD $1,450,000
Seller Representation by Dickson Realty
SOLD $1,331,000
Seller Representation by Dickson Realty
SOLD $1,250,000
Seller & Buyer Representation by Dickson Realty
Montrêux
Galena Forest
Arrowcreek
SW Reno
SOLD $1,500,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,365,000
Seller Representation by Dickson Realty
SOLD $1,350,000
Seller Representation by Dickson Realty
SOLD $1,300,000
Seller Representation by Dickson Realty
So Suburban Reno
Washoe Valley
Arrowcreek
Montrêux
Significant Dickson Realty Sales in 2016
SOLD $1,499,332
Seller & Buyer Representation by Dickson Realty
SOLD $1,275,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,100,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,285,000
Seller & Buyer Representation by Dickson Realty
Montrêux
Montrêux
Montrêux
Montrêux
SOLD $1,362,000
Seller Representation by Dickson Realty
SOLD $1,328,000
Seller Representation by Dickson Realty
SOLD $1,200,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,160,000
Seller Representation by Dickson Realty
Montrêux
Arrowcreek
Montrêux
Montrêux
Significant Dickson Realty Sales in 2016
SOLD $1,250,000
Seller Representation by Dickson Realty
SOLD $1,175,000
Seller Representation by Dickson Realty
SOLD $1,175,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,100,000
Seller & Buyer Representation by Dickson Realty
Galena Forest
Arrowcreek
Arrowcreek
Monte Rosa
SOLD $1,075,000
Seller Representation by Dickson Realty
So Suburban Reno
SOLD $1,125,000
Seller Representation by Dickson Realty
SOLD $1,150,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,150,000
Seller Representation by Dickson Realty
Arrowcreek
MontrĂŞux
Galena Forest
Significant Dickson Realty Sales in 2016
SOLD $1,105,000
Seller Representation by Dickson Realty
SOLD $1,100,000
Seller Representation by Dickson Realty
SOLD $1,065,000
Seller Representation by Dickson Realty
So Suburban Reno
Old SW Reno
Montrêux
SOLD $1,050,000
Seller Representation by Dickson Realty
SOLD $1,025,000
Seller Representation by Dickson Realty
SOLD $1,000,000
Seller & Buyer Representation by Dickson Realty
Galena Forest
SW Reno
Montrêux
Significant Dickson Realty Sales in 2016
SOLD $1,100,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,009,000
Seller Representation by Dickson Realty
Montrêux
Galena Forest
SOLD $1,025,000
Seller Representation by Dickson Realty
SOLD $1,140,948
So Suburban Reno
Seller & Buyer Representation by Dickson Realty
Montrêux
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$4,500,000
150002576
$3,939,393
140015612
$2,495,000
160000006
$2,298,000
160016765
$2,280,000
160012974
$2,250,000
160012740
$1,995,000
$1,995,000
140012423
$1,950,000 160014402 1950 HOLCOMB RANCH LANE
$1,925,000
20203 BORDEAUX DR.
90 HAWKEN RD.
6340 MORMON TEA WAY
3305 MARIO ROAD
430 ANITRA
6619 JUNG COURT
11155 BOULDER GLEN WAY
$2,700,000
160003021
$2,295,000
160005867
655 JUNIPER HILL ROAD
20162 BORDEAUX DRIVE
160005603 10043 E DESERT CANYON DRIVE
2500 OLD RANCH ROAD
160010307
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$1,899,000
160007701
$1,750,000
160011698
$1,700,000
160002103
$1,675,000
160017130
6672 MASTERS DRIVE
6501 SALT BRUSH
20588 CHANSON WAY
3670 SPIRIT BLUFF COURT
$1,789,000
160006978
$1,750,000
160014471
$1,699,000
$1,625,000
14285 QUAIL SPRINGS
6175 LAKE GENEVA DRIVE
4265 BASQUE LANE
40 SHARPS CIRCLE
$1,750,000
160009023
$1,750,000
160008045
160011052
$1,695,000
160013516
160011920
$1,599,000
150005814
6864 MASTERS DRIVE
35 GREYBULL COURT
9695 PASSA TEMPO DRIVE
20612 CHANSON WAY
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$1,535,000 160005737 10398 COPPER CLOUD DRIVE
$1,520,950
160012464
$1,498,000
160016763
$1,495,000
160006371
$1,489,900
160015846
$1,488,000
160016585
$1,450,000
160000067
$1,435,000
160014737
$1,395,000
140012641
$1,385,000
160010604
$1,374,000
150009616
$1,350,000
160010269
1080 MOUNT ROSE
65 SHARPS CIRCLE
2430 FARETTO LANE
394 QUESTA CT
62 E LIGHTNING RANCH W
1107 IVY COURT
5920 CARTIER
5775 NORDEND WAY
6704 MASTERS DRIVE
5825 STRASBOURG CT
30 SHARPS CIRCLE
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$1,299,000
150009039
$1,250,000
160011225
15155 TIMBER CREST TRAIL
6465 MONTREUX LANE
$1,075,000 160014510 4105 WHISPERING PINE LOOP
$1,269,000
160005413
$1,195,500
160014694
$1,069,000
160009716
4460 MOUNTAINGATE DRIVE
11015 MONTANO RANCH
243 E JEFFREY PINE ROAD
$1,250,000
160000730
$1,145,000
160014136
$1,050,000
160004911
20665 PARC FORET DRIVE
5965 GAUGUIN
1940 VIEW CREST
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
GRAEAGLE 530.836.1700
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.