Luxury Trends 1st Quarter 2017 Market Report from the Market Leader
1st Quarter 2017 DicksonLuxury.com
Luxury Trends 1st Quarter 2017 Market Report from the Market Leader
COVER PROPERTY FEATURED:
90 Hawken Road, Reno, NV 89519 $2,495,000 MLS #170003318
2017 Luxury Market Report 1ST QUARTER
1st Quarter 2017 DicksonLuxury.com
Welcome to our 2017 1st Quarter Luxury Market Report. With a new President and a growing economy, Northern Nevada continues to be on the edge of a business and housing boom. As of this publication, Google made public their purchase of 1,200 acres in the Tahoe Reno Industrial Center, the largest industrial center in the world. While news of Tesla, Switch, Apple, and now Google continues to bolster jobs, will it translate to increased luxury home sales? We hope so! The facts: 1st quarter sales are down compared to Q1 2016, and Q1 2015. An increasing number of homes exceeding 1.5 million are experiencing long market times and few sales. Only two homes sold in 2016 over $2.5 million and five between $2 and $2.499 million. There are 40 homes on the market over $2 million in our region. However, sales of homes over $1 million and below $1.5 are stable with reasonable market times and good absorption. While it is true that our future is bright, 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
1st Quarter 2017 vs. 1st Quarter 2016 Luxury Home Averages sales over $1 million*
-5
+0.21%
+0.19%
-15.28%
TOTAL HOMES SOLD
AVERAGE SOLD PRICE
AVERAGE PRICE PER SF
AVERAGE DAYS ON MARKET
2017: 16 2016: 21
2017: $1,367,375 2016: $1,364,523
2017: $296.16 2016: $295.60
2017: 183 2016: 216
*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, 2017, as of April 6, 2017.
Top 5 Luxury Real Estate Companies 2017 Market Share for Reno/Sparks Homes Sold Over $1 Million*
DICKSON REALTY
21.49% KW Group One 14.96% RE/MAX Affiliates 14.87%
Chase 8.2% CB Select 7.36%
Luxury Home Sales By Month over $1 million* 2017 vs. 2016 2017
15
Units Sold
2016
11
10 8
7
5
5 3
JAN
3
FEB
MAR
*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, 2017, as of April 6, 2017.
Active Luxury Homes By Price Range over $1 million* Q1 2017
Sold Luxury Homes By Price Range over $1 million* Q1 2017
10 11
24
22 16
13
12 7
11 8
7
4
8
Sold Homes
20
30
20
10 5
3 3 0 0
2 0
1
1 0 1 0
+ 1 . 1 1 - 1 . 2 - 1 . 3 - 1 . 4 - 1 . 5 - 1 . 6 - 1 . 7 - 1 . 8 - 1 .9 - 2 . 0 - 2 . 5 2 . 5 $ . 7 8 9 2 3 4 5 6 . 0 1 $ 1. $ 1 $ 1. $ 1 . $ 1. $ 1 . $ 1. $ 1 $ 1. $ 1 . $2 .
+ 9 0 5 1 4 6 7 -1 . 1 . 2 1 . 3 -1 . -1 . 5 -1 . -1 . 1 . 8 -1 . 2 . 2 . 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 $
Months of Inventory Active Listings By Price Range over $1 million*
182
121
50
months of inventory
Active Listings
30
49
40
41
30 20 17 10 0
5 1 -1 . -1 . 2
27
22 24
23
15 9 + 1 . 3 - 1 . 4 - 1 . 5 - 1 . 6 - 1 . 7 1 . 8 - 1 .9 2 . 0 2 . 5 $ 2 . 5
4 .5 0 .1 6 .7- . 8 9 - 1 2- .3 $ 1. $ 1 $ 1. $ 1 $ 1. $ 1 $ 1. $ 1 $ 1 $ 1 . $2 .
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 - March 31, 2017, as of April 6, 2017.
Significant Dickson Realty Sales in Q1 2017
SOLD $1,850,000
Seller & Buyer Representation by Dickson Realty
SOLD $1,090,000
Seller Representation by Dickson Realty
SOLD $1,065,000
Seller & Buyer Representation by Dickson Realty
Montreux
Arrowcreek
SOLD $1,400,000
Seller Representation by Dickson Realty
SOLD $1,085,000
Seller Representation by Dickson Realty
Old SW Reno
Arrowcreek
Arrowcreek
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.
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$4,150,000
170003823
$3,939,393
140015612
$2,395,000
170003355
$2,298,000
160016765
$2,280,000
160012974
$2,180,000
160012740
$1,950,000
170001473
$1,950,000 160014402 1950 HOLCOMB RANCH LANE
20203 BORDEAUX DR.
6105 LAKE GENEVA
6340 MORMON TEA WAY
120 W WILLIS
430 ANITRA
6619 JUNG COURT
11155 BOULDER GLEN WAY
$2,495,000
170003318
$2,295,000
160005867
90 HAWKEN RD.
20162 BORDEAUX DRIVE
$1,995,000 160005603 10043 E DESERT CANYON DRIVE
$1,925,000
2500 OLD RANCH ROAD
160010307
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$1,895,000
170001755
$1,789,000
170001041
$1,750,000
160009023
$1,579,000
170002220
175 HAWKEN ROAD
6037 BREITHORN
6864 MASTERS DRIVE
4265 BASQUE LA NE
$1,825,000
140012423
$1,785,000
170003236
$1,620,000
$1,499,950
3305 MARIO ROAD
16775 MAGGIE CIRCLE
20588 CHANSON WAY
394 QUESTA CT
$1,789,000
160006978
$1,750,000
160014471
160002103
$1,595,000
160017130
160012464
$1,498,000
160016763
14285 QUAIL SPRINGS
6175 LAKE GENEVA DRIVE
3670 SPIRIT BLUFF COURT
5775 NORDEND WAY
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$1,495,000
160006371
$1,488,000
160016585
$1,470,000
150005814
$1,425,000
160011920
$1,375,000
170000530
$1,375,000
160014737
$1,350,000
160010269
$1,345,000
170002738
$1,335,000
160010604
$1,325,000
170004171
$1,300,000
$1,299,000
150009039
1080 MOU N T ROSE
40 SHARPS CIRCLE
30 SHARPS CIRCLE
5741 INDIGO RUN
6704 M ASTERS DRIVE
20685 PARC FORET DRIVE
5760 FLORIMONT COURT
170002890 62 E LIGHTNING W RANCH ROAD
20612 CHA NS ON WAY
1107 IVY COURT
2430 FARETTO LANE
15155 TIMBER CREST TRAIL
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$1,299,000
150009616
$1,145,000
170000910
$1,069,000
160009716
5920 CARTIER
2745 SPINNAKER DRIVE
243 E JEFFREY PINE ROAD
$1,220,000
160000730
$1,100,000
160017026
$1,050,000
170003052
20665 PARC FORET DRIVE
14835 NORTHWOODS BLVD
866 SKYLINE BOULEVARD
$1,150,000
1855 SIERRA SAGE
$1,075,000 160014510 4105 WHISPERING PINE LOOP
$1,035,000
1940 VIEW CREST
7
As soon as your luxury home is listed in the Multiple Listing Service (MLS), it will receive premium exposure on DicksonRealty.com, the region’s Number 1 real estate website
160011482
160004911
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.