Dickson Realty Luxury Trends Reno-Sparks, 1st Quarter 2016

Luxury Trends 1st Quarter 2016 Market Report from the Market Leader

Q1 2016 DicksonLuxury.com

COVER PROPERTY FEATURED:

339 Anitra Drive, Reno NV 89511 $4,750,000 MLS #150007415

Welcome

TO OUR Q1 2016, LUXURY MARKET REPORT. Welcome to Dickson Realtyâ&#x20AC;&#x2122;s 2016 Luxury Newsletter for the 1st Quarter. The national outlook has been tense with the ups and downs in the stock market and global instability. The natural assumption is our local luxury real estate market would follow the national uneasiness. Surprisingly, the 1st Quarter of 2016, in fact, was stronger than the 1st Quarter of 2015. The good newsyear over year there were 4 more sales over $1 million than Q1 2015, average sales price is up 6% and average price per foot was up from $275/s.f. to $290/s.f. The number of active listings is 116 as compared to 130 last year at this time. Northern Nevada continues to be a region of growth. A steady stream of dynamic companies continues to relocate or expand their headquarters in exciting areas of technology, innovation and manufacturing. Our estimation is the luxury residential market will remain steady throughout the year. It is important to bear in mind that nearly 70% of luxury sales are between $1 - $1.5 million. If your home is listed over $1.5 million, you can anticipate longer market times and a smaller pool of buyers. If you are considering buying or selling please consider contacting one of our highly qualified luxury specialists at Dickson Realty, or visit www.dicksonluxury.com.

â&#x20AC;&#x201D;CEO Dickson Realty

1st Quarter 2016 vs. 2015 Luxury Home Averages $1 million to $20 million*

+4

+6.2%

+9.1%

-8.1%

TOTAL UNITS SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2016: 21 2015: 17

2016: $1,364,523 2015: $1,284,176

2016: $295.60 2015: $270.93

2016: 216 2015: 235

*Source: Northern Nevada Multiple Listing Service (NNRMLS) transaction volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - March 31, 2016, as of April 7, 2016.

Top 5 Luxury Real Estate Companies

1st Quarter 2016 Market Share for Reno/Sparks Homes Sold Over $1 Million*

DICKSON REALTY

30.31%

Ferrari-Lund 11.41% DoMore R.E. Drakulich 10.91% RE/MAX Professionals 8.31% RE/MAX Affiliates 6.72%

Active Listings Over $1 Million $1,500,000– $1,999,999

$1,000,000– $1,499,999

40%

20%

$2,000,000– $2,499,999

19%

$2,500,000 and higher

ytd Sold Listings over $1 Million $1,500,000– $1,999,999

28%

$2,000,000– $2,499,999

5%

$1,000,000– $1,499,999

67%

21%

$1,000,000– 46 Active Listings $1,499,999 $1,271,343 Average Price

$1,000,000– 14 Sold Listings $1,499,999 $1,172,857 Average Price

$1,500,000– 23 Active Listings $1,999,999 $1,736,973 Average Price

$1,500,000– 6 Sold Listings $1,999,999 $1,630,833 Average Price

$2,000,000– 22 Active Listings $2,499,999 $2,343,490 Average Price

$2,000,000– 1 Sold Listings $2,499,999 $2,450,000 Average Price

185 Average Days On Market

213 Average Days On Market

164 Average Days On Market

166 Average Days On Market

267 Average Days On Market

601 Average Days On Market

$2,500,000 25 Active Listings and higher $3,981,051 Average Price

226 Average Days On Market

*Source: Northern Nevada Multiple Listing Service (NNRMLS) transaction volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - March 31, 2016, as of April 7, 2016.

Significant Dickson Sales in 1st quarter 2016

SOLD $2,450,000