Dickson Realty Luxury Trends 2nd Quarter 2014

LUXURY TRENDS The Market Report from the Market Leader

2nd Quarter 2014 DicksonLuxury.com Š Copyright 2014 Dickson Realty

Welcome 2nd Quarter 2014 Executive Summary July 2014

Welcome to our most recent luxury market report highlighting the 2nd Quarter of 2014 sales activity for properties priced $1,000,000 or higher in the Reno/Sparks region, and $2,000,000 or higher in the Truckee/North Lake Tahoe region.

While the first quarter of 2014 provided us with mixed market indicators, the second quarter of 2014 was more encouraging. In the Reno/Sparks region there is good news to share. Not only were the number of sales over $1,000,000 dollars up 38% over 2nd Quarter 2013, the average price per square foot jumped 29% from $241 per square foot to $310 per square foot. It gets better – average days on the market in this category dropped 39% to 214 days. The highest sale in the region was in the community of Montreux, closing at $3.2 million dollars.

While the news is going in a positive direction we are not yet out of the woods with a supply of 154 homes on the market over one million dollars. Of the 31 luxury homes that sold in the first six months of 2014, 25 homes sold between $1,000,000 -$1,199,000 and reduced from original list price to sales price an average of 9%. Of the 6 homes that sold over $2,000,000, the average list price to sales price ratio was 15% and market times were longer. An important aspect to selling a home in today’s market is working with a luxury specialist in the pricing of your home to achieve the highest and best sale.

During the 2nd Quarter of 2014 in our Truckee/North Lake Tahoe market, the number of homes sold over $2 million increased 90%, and the total dollar volume of over $70.6 million represented a 95% increase over the same period in 2013. The largest number of sales occurred in the $1 million to $2 million range, with 24 homes sold, and the $5 million and above range, with 15 homes sold. The highest sale for Truckee during the quarter was in Martis Camp, where a 6,100+ sf, 6 bedroom home sold for $7,050,000.

Dickson Realty, in partnership with Leading Real Estate Companies of the World and Luxury Portfolio, provides unprecedented exposure to regional and global high net worth real estate buyers. An average of 40,000 unique visitors per month visit DicksonRealty.com to get current real estate news and information. Our mission is to bring you relevant market information to help you make an informed buying or selling decision. Please visit us at www.dicksonrealty/luxury and enjoy viewing our many beautiful million dollar homes for sale, or contact one of our luxury experts if you have any questions about the current state of the market.

Sincerely,

Nancy Fennell CEO Dickson Realty Š 2014 Dickson Realty. All rights reserved.

Luxury Market Report 2nd Quarter 2014 Total Truckee/North Lake Tahoe homes sales almost doubled from last year, although the Average Sales Price only increased by 3%. n In Reno/Sparks, the number of sales over $1 Million increased by 38%. The Average Price per Square Foot also increased, by 29%, and the Days on Market fell from 350 to 214 days, a 39% reduction. n

Truckee/North Lake Tahoe Luxury Home Sales: $2 Million and Higher

2nd Qtr 2014

2nd Qtr 2013

% Change

19

10

90%

Total Dollar Volume

$70,671,725

$36,240,875

95%

Average Sales Price

$3,719,564

$3,624,087

3%

Median Sales Price

$3,340,000

$3,475,000

-4%

Average Days on Market

201

206

-2%

Average Price Per Sq. Ft.

$994

$944

5%

Solds

Reno/Sparks Luxury Home Sales: $2 Million and Higher

2nd Qtr 2014

2nd Qtr 2013

% Change

3

1

200%

Total Dollar Volume

$7,725,000

$3,000,000

156%

Average Sales Price

$2,575,000

$3,000,000

-14%

Median Sales Price

$2,325,000

$3,000,000

-23%

Average Days on Market

335

308

9%

Average Price Per Sq. Ft.

$370

$349

6%

Solds

Reno/Sparks Luxury Home Sales: $1 Million and Higher

2nd Qtr 2014

2nd Qtr 2013

% Change

18

13

38%

Total Dollar Volume

$27,843,915

$18,210,000

53%

Average Sales Price

$1,546,884

$1,400,769

10%

Median Sales Price

$1,312,759

$1,200,000

9%

Average Days on Market

214

350

-39%

Average Price Per Sq. Ft.

$310

$241

29%

Solds

Š 2014 Dickson Realty. All rights reserved.

Luxury Market Report 2nd Quarter 2014 Homes selling between $1 Million and $2 Million still represent the most active price range for both the Truckee/Tahoe and Reno/Sparks Markets, but homes at $3 Million and above are not far behind in the Truckee/Tahoe market. n Two sales in the North Lake Tahoe area exceeded $7 Million each. n

Truckee/North Lake Tahoe Luxury Home Sales Price Range

2nd Qtr 2014

2nd Qtr 2013

% Change

$1,000,000 - $1,999,999

24

17

41%

$2,000,000 - $2,999,999

4

3

33%

$3,000,000 - $4,999,999

13

6

117%

$5,000,000 and higher

15

1

1400%

Market Totals

56

27

107%

2nd Qtr 2014

2nd Qtr 2013

% Change

$1,000,000 - $1,999,999

15

12

25%

$2,000,000 - $2,999,999

2

0

200%

$3,000,000 - $4,999,999

1

1

0%

$5,000,000 and higher

0

0

0%

Market Totals

18

13

38%

Reno/Sparks Luxury Home Sales Price Range

Luxury Home Sales Prices by Percentage Truckee/No. Lake Tahoe Market

Reno/Sparks Market

$3,000,000– 4,999,999

$5,000,000 and higher

23%

27%

$3,000,000– 4,999,999

6% $2,000,000– 2,999,999

11% $2,000,000– 2,999,999

7%

$1,000,000– $1,999,999

43%

$1,000,000– $1,999,999

83% © 2014 Dickson Realty. All rights reserved.

Luxury Market Report 2nd Quarter 2014 Martis Camp, CA was again the number one choice for luxury home buyers in the Truckee/No. Lake

n

Tahoe region, recording 10 of the 11 sales sold during this period. Homes sold in this new development ranged from a low of $2,650,000 to a high of $7,050,000. n The Southwest Suburban area of Reno had the largest number of luxury home sales. The highest priced sale in this area was $3,200,000, in the community of Montreux.

Truckee/North Lake Tahoe Luxury Home Sales: $2 Million and Higher Neighborhood

# of Sales

Average Sale Price

Highest Sale Price

Truckee, CA

11

$3,669,090

$7,050,000

Carnelian Bay, CA

1

$3,340,000

$3,340,000

Olympic Valley, CA

1 $3,500,000 $3,500,000

Rubicon Bay, CA

1

$6,250,000

$6,250,000

Tahoe City, CA

1

$4,788,000

$4,788,000

Reno/Sparks Luxury Home Sales: $1 Million and Higher Neighborhood

# of Sales

Average Sale Price

Highest Sale Price

Old Southwest Reno

1

$1,459,000

$1,459,000

Old Southwest Suburban Reno

4

$1,769,125

$2,325,000

South Suburban Reno

4

$1,249,500

$1,350,000

Southwest Suburban Reno

5

$1,639,083

$3,200,000

West Southwest Reno

3

$1,305,000

$1,600,000

West Washoe Valley

1

$2,200,000

$2,200,000

Luxury Home Sales by Area Truckee/No. Lake Tahoe Market Truckee Carnelian Bay Olympic Valley Rubicon Bay Tahoe City

Reno/Sparks Market Old SW Reno S Suburban Reno W SW Reno

Old SW Suburban Reno SW Suburban Reno W Washoe Valley

11 1 1

1 3

4

1 5 1

4 1 Š 2014 Dickson Realty. All rights reserved.

Luxury Market Report 2nd Quarter 2014 Dickson Realty Luxury Market Share Reno/Sparks $1 Million and Higher

Reno/Sparks $1.5 Million and Higher

50

50

40

40

30

30

20

20

10

10

0

0

Source: Northern Nevada Regional MLS, Tahoe Sierra MLS

Reno/Sparks $2 Million and Higher 35

Source: Northern Nevada Regional MLS, Tahoe Sierra MLS

Reno/Truckee Overall Market Share 15

30 12 25 20 15

9

6

10 5 0

Source: Northern Nevada Regional MLS, Tahoe Sierra MLS

3

0

Source: Northern Nevada Regional MLS, Tahoe Sierra MLS

Š 2014 Dickson Realty. All rights reserved.

DicksonLuxury Breathtaking Equestrian Estate 4265 Basque Lane | $2,450,000 Unique 5 acre equestrian estate located in prestigious Juniper Hills with water rights! This estate offers privacy with its dramatic gated entrance serenity with beautiful peaceful ponds and waterfalls and elegance with its warm inviting ranch style home. Superbly custom built 4688 SF home was rebuilt and renewed inside and out in 2006. Attention to detail quality and architectural elements. Enjoy the views, open space from your riding arena and viewing gazebo. MLS#140008664

Parc Foret Home Now Available 20705 Pomerol Drive | $1,175,000 Brand new and much anticipated Parc Foret, located in Reno's premier community of Montreux, a gated and guarded Jack Nicklaus Signature Golf Community. Just 10 minutes from skiing, 20 minutes from Lake Tahoe. This is a "Plan 1" home and is under construction, with a Summer 2014 scheduled completion. Includes full landscaping and loaded with quality detail and finish. Single level great room design with tall ceilings and very open plan.

All bedrooms are en suite. This house is built by award winning builder HomeCrafters. Located in the tall Pines. Many upgrades! MLS#130002684

Majestic Tahoe Lodge 13390 Ski View Loop, Tahoe Donner, Truckee, CA | $2,450,000 Reminiscent of the Ahwahnee Lodge, this magnificent home reflects Old Tahoe styling. From the grand turret room to the handcrafted detailing finishes you will experience the best of the best construction and craftsmanship. The interior spaces offer massive log open truss beams, extensive use of stone, beautiful exotic woodwork, large open great room while providing plenty of private areas. Extra rooms include bunk room sleeps 8, study plus TV room.

Situated on 2 south facing view golf course lots.

Exquisite Mountain Home 25 Myrtlewood Circle | $1,595,000 Located in Galena Forest Estates this home features highest quality details from the soaring Great Room windows, 25 ft ceilings, and rock fireplace to the gourmet kitchen, and limestone floors. There is a formal dining room, office with custom built-in cabinets, master on main floor, 2 walk-in closets, loft, 2 en-suite bedrooms with private balconies, elevator, wine cellar, game room with full bar, mud room, theater room, covered outdoor patio and kitchen, waterfall, hot tub and terraced landscaping.

Find more information on these properties on DicksonRealty.com. For personalized service on these featured properties, contact luxury@dicksonrealty.com. Š 2014 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

DicksonLuxury.com | luxury@dicksonrealty.com

© 2014 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy.