LUXURY TRENDS The Market Report from the Market Leader
1st Quarter 2013
© 2013 Dickson Realty. All rights reserved.
© Copyright 2013 Dickson Realty
Luxury Market Report 1st Quarter 2013
1st Quarter 2013 Executive Summary April, 2013
Welcome to our latest luxury market report highlighting 1st Quarter 2013 sales activity for properties priced at $2 Million or more in Truckee/North Lake Tahoe and $1 Million+ in Reno/Sparks. At the end of 1st Quarter 2013, Dickson Realty continued to dominate the luxury marketplace in Reno/ Sparks with 46.87% market share for sales over $1 Million, 41.67% market share for sales over $1.5 Million, and 100% market share for sales over $2 Million. Regionally, our overall market share was 13.59%, with our closest competitor at 5.22%. The 1st Quarter 2013 has been quite active registering 27 luxury sales as compared to 7 in 1st Quarter 2012. And as we closed the quarter, we were already seeing an increase in the number of new luxury deals. Both Truckee/North Lake Tahoe and Reno/Sparks markets have been remarkably busy with several $1 Million+ sales this quarter alone. Both market areas continue to be impacted by lower inventory and high demand. This dichotomy affects not only the luxury market but the markets in all price ranges as well. Nonetheless, we are pleased to report that Dickson Realty has participated in over 40% of the luxury sales in Reno/Sparks year-to-date including the highest sale of $2,150,000 for a custom-built Montrêux home overlooking the 13th Fairway and Green. In recent months, we have been focusing our marketing efforts on new initiatives to further a ract the highly active international buyer. We traveled to Beijing, China with Luxury Portfolio to showcase our top properties at the Beijing International Property Expo which a racted highly qualified luxury buyers from around the world. For more information on our exclusive luxury marketing programs or for help with any of your real estate needs, please contact me at 775.746.7000 or email me at rdickson@ dicksonrealty.com.
Rebecca Dickson Vice President Luxury DicksonRealty Luxury Division
© 2013 Dickson Realty. All rights reserved.
Luxury Market Report 1st Quarter 2013
Total Truckee/North Lake Tahoe homes sales rose 180% from last year while the Average Price dropped significantly, as did the Average Price Per Sq. Ft. Total Reno/Sparks home sales rose 450% from 4 sales in 2012 to 18 sales in 2013. $1 Million+ pricing also rose across the board
Truckee/North Lake Tahoe Luxury Home Sales - $2 Million and Higher 1st Qtr 2013
1st Qtr 2012
% Change
9
5
180%
Total Dollar Volume
$23,810,000
$22,690,000
5%
Average Sales Price
$2,645,555
$4,538,000
-42%
Median Sales Price
$2,400,000
$2,950,000
-18%
Average Days on Market
273
445
-38%
Average Price Per Sq. Ft.
$634
$984
-36%
Solds
Reno/Sparks Luxury Home Sales - $2 Million and Higher 1st Qtr 2013
1st Qtr 2012
% Change
1
0
0
Total Dollar Volume
$2,150,000
0
0
Average Sales Price
$2,150,000
0
0
Median Sales Price
$2,150,000
0
0
Average Days on Market
213
-
-
Average Price Per Sq. Ft.
$362
-
-
Solds
Reno/Sparks Luxury Home Sales - $1 Million and Higher 1st Qtr 2013
1st Qtr 2012
% Change
18
4
450%
Total Dollar Volume
$23,595,000
$5,105,000
362%
Average Sales Price
$1,310,833
$1,276,250
3%
Median Sales Price
$1,225,000
$1,127,500
9%
Average Days on Market
227
455
-50%
Average Price Per Sq. Ft.
$252
$231
9%
Solds
© 2013 Dickson Realty. All rights reserved.
Luxury Market Report 1st Quarter 2013
Homes selling between $1 Million and $2 Million represented the most active price range in both the Truckee/North Lake Tahoe and Reno/Sparks luxury markets. A Martis Camp, CA sale, which sold for $4,100,000, represented the top sale in the entire Truckee/ North Lake Tahoe region year-to-date.
Truckee/North Lake Tahoe Luxury Home Sales Price Range
1st Qtr 2013
1st Qtr 2012
% Change
$1,000,000 - $1,999,999
22
13
69%
$2,000,000 - $2,999,999
7
3
133%
$3,000,000 - $4,999,999
2
0
200%
$5,000,000 and higher
0
2
0
Market Totals
31
18
72%
1st Qtr 2013
1st Qtr 2012
% Change
$1,000,000 - $1,999,999
17
4
325%
$2,000,000 - $2,999,999
1
0
0
$3,000,000 - $4,999,999
0
0
0
$5,000,000 and higher
0
0
0
Market Totals
18
4
350%
Reno/Sparks Luxury Home Sales Price Range
© 2013 Dickson Realty. All rights reserved.
Luxury Market Report 1st Quarter 2013
With over 33% of the $2 Million+ home sales, Martis Camp, CA continues to be the number one choice for luxury home buyers in the Truckee region. With 40% of the $1 Million+ home sales, Southwest Suburban - Reno, the older, sought-a er neighborhood, is a favorite for luxury home buyers and is the only neighborhood with a $2 Million+ sale.
Truckee/North Lake Tahoe Luxury Home Sales - $2 Million and Higher Town/City
# of Sales
Median Sale Price
Highest Sale Price
Martis Camp, CA
3
$2,865,000
$4,100,000
Northstar, CA
2
$2,352,000
$2,400,000
Dollar Point, CA
1
$2,200,000
$2,200,000
Kingswood West, CA
1
$2,180,000
$2,180,000
Old Greenwood, CA
1
$2,150,000
$2,150,000
Reno/Sparks Tahoe Luxury Home Sales - $1 Million and Higher Neighborhood
# of Sales
Median Sale Price
Highest Sale Price
Southwest Suburban Reno
8
$1,325,000
$2,150,000
South Suburban Reno
4
$1,275000
$1,850,000
West Southwest Reno
2
$1,225,000
$1,275,000
Old South Suburban Reno
2
$1,175,000
$1,275,000
West Washoe Valley
1
$1,500,000
$1,500,000
Northwest Foothhills Reno
1
$1,000,000
$1,000,000
© 2013 Dickson Realty. All rights reserved.
Luxury Market Report 1st Quarter 2013 Reno/Sparks $1 Million and Higher 50
Reno/Sparks $1.5 Million and Higher 50
46.87% 40
40
41.67% 30
30
20
20
20 83% 20.83% 10
10
12.85%
10.44% 6.36% 0
6.35%
4.98%
11.81%
0
Dickson Realty
Dickson Realty
RE/MAX
Trans-Action
Trans-Action
Coldwell Banker Select
Coldwell Banker Select
Sierra Sotheby’s Intl
Chase
DoMore RE Drakulich
Reno/Sparks $2 Million and Higher
12.85%
Reno/Truckee Overall Market Share 15
100
100% 80
12
60
9
40
6
20
3
0
0
Dickson Realty
13 54% 13.54%
5.22%
5.07%
4.89%
4.56%
Dickson Realty Realty Affil. Coldwell Banker Select Keller Williams Coldwell Banker NorCal
Source: Northern Nevada Regional MLS, Tahoe Sierra MLS © 2013 Dickson Realty. All rights reserved.
Luxury Market Report 1st Quarter 2013 Dickson Realty presents a selection of the world’s most exclusive properties from our global affilliates at Luxury Porfolio.
Regence Royale
Sol Linda
Rare Opportunity in London
$76,000,000 Hong Kong, China Web ID: EENV
$12,000,000 Nassau, Bahamas Web ID: UCKV
$10,017,083 London, UK Web ID: AHPZ
Renaissance Villa in Florence
Villa Roxane on Gustavia’s Cliffs
Enigma Mansion in South Africa
$25,000,000 Assisi, Italy Web ID: EIFQ
Price Available Upon Request St. Barthelemy, French West Indies Web ID: BZEZ
$33,234,369 Cape Town, South Africa Web ID: DOBV
Outstanding Paris Apartment
Sol Linda
Villa Venado in Garza Blanca
Price Available Upon Request Paris, France Web ID: EGZV
$12,000,000 Nassau, Bahamas Web ID: UCKV
$2,800,000 Puerto Vallarta, Mexico Web ID: CZFQ
Find more information on these properties on DicksonRealty.com/Luxury. For personalized service on these featured properties, contact luxury@dicksonrealty.com. © 2013 Dickson Realty. All rights reserved.
CAUGHLIN RANCH 775.746.7000
DAMONTE RANCH 775.850.7000
SOMERSETT 775.746.7222
MONTRÊUX 775.849.9444
SPARKS 775.685.8800
TRUCKEE 530.587.7444
DicksonRealty.com/Luxury | luxury@dicksonrealty.com
© 2013 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy.