Dickson Realty Luxury Trends Year-End 2016 Reno/Sparks

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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.


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