Luxury Trends 2018 1st Quarter Market Report from the Market Leader
2018 1st Quarter DicksonLuxury.com
COVER PROPERTY FEATURED:
612 Hawk Hill $1,225,000 MLS#180003286
Welcome to our 2018 1st Quarter, Luxury Market Report. Well, what can we say that the numbers don’t say for us! The market for luxury homes in the first quarter of 2018 is up a staggering 225% over the first quarter of 2017. In our summary report for the year ending 2017, we talked about the steady improvement of sales in the price point up to $1.6 million, and now we see the trend pushing past that benchmark. The average price per square foot crested the $300 per square foot mark, and the average sold price for homes over $1 million went up 9%. In speaking with our director of corporate relocation, Chris Galli, the feedback he gets from people relocating with Dickson Realty to Reno highlights the tremendous tax advantages as one of the drivers, but equally important to their decision is the ability to live in such a beautiful, bountiful region such as Northern Nevada. As we look forward to a busy summer, real estate sales should continue at a fast pace. For Sellers, a strategic marketing and pricing plan will be critical, and for Buyers understanding the values to make a purchase will be equally as important. Over one-third of the homes listed and sold over $1 million in the first quarter were represented by a luxury home specialist at Dickson Realty. We look forward to helping you through the summer with all your real estate endeavors!
—President & CEO Dickson Realty
Q1 2018 vs. Q1 2017 RENO/SPARKS Luxury Home Averages sales over $1 million*
+225%
+9.37%
+6.45%
+22.4%
TOTAL HOMES SOLD
AVERAGE SOLD PRICE
AVERAGE PRICE PER SF
AVERAGE DAYS ON MARKET
2018: 52 2017: 16
2018: $1,495,483 2017: $1,367,375
2018: $315.27 2017: $296.16
2018: 224 2017: 183
*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, 2018, as of Apr 5, 2018.
Top 5 Luxury Real Estate Companies Q1 2018 Market Share for Reno/Sparks Homes Sold Over $1 Million*
DICKSON REALTY
37.66%
RE/MAX Affiliates 8.82 % Ferrari-Lund 7.01% DoMore Drakulich 5.84% Keller Williams Group One 5.59 %
Dickson Realty market share for Reno/Sparks homes sold over $2 Million in 2018 = 46.23%
Luxury Home Sales By Month over $1 million* 2018 vs. 2017
2018 2017
Units Sold
20
15
18
17
17
10
8 5
3 JAN
FEB
5 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, 2018, as of Apr 5, 2018
ACTIVE as of Mar 31 SOLD Jan - Mar 2018
20
18
17 12
10
9
11
8
8
7
4 $
1. 0
1 .1
$
1.1
1.2
$
1. 2
1.3 $
1.3
11
10 2
1. 4
$
1. 4
1 .5 $
1 .5
5 1
5 2
4 1 1.6
$
1. 6
1 .7
$
-1 1 .7
2
3
.8
$
1. 8
1 .9
$1
2 .9 -
5
4
4 .0
$2
.
2 0-
.5
$2
millions of $ Months of Inventory Active Listings By Price Range over $1 million*
182
121
months of inventory
2018 2017 50
49
40
41
30
27 30 23
20 17
15
10 5 5 0 $
1. 0
-1 .
1
8
4 1 $ 1.
-1 .
9
25
24
22 11
8
11
13 8
8
3 2
$
1. 2
1.3 $
1.3
-1 .
4 $
1 .5
1.6
$
1. 8
-1 .
9 $
1 .9
2 .0
$2
.5+
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, 2018, as of Apr 5, 2018
.5+
INSIGHTS FOR LUXURY BUYERS IN 2018
When purchasing a significant property, buyers should be aware of several factors during the buying process. The home’s location, new tax laws and your personal portfolio are all important issues to consider, whether purchasing a new primary or secondary home. For details and additional insight into economic factors that influence the buying process, we sat down with LeadingRE Chief Economist, Marci Rossell.
MARCI ROSSELL, PH. D.,
1
CHIEF ECONOMIST FOR LEADING REAL ESTATE COMPANIES OF THE WORLD® As a former Chief Economist for CNBC and groundbreaking financial journalist, Rossell served in this position in the months immediately following September 11th. She is known for taking complex economic issues and making them relevant to people’s lives, families, and careers. Prior to her career in broadcast journalism, Rossell served as Corporate Economist and Investment Spokesperson for OppenheimerFunds, one of the nation’s largest mutual fund companies, and prior to that, as an economist with the Federal Reserve Bank of Dallas. Rossell earned a Ph.D. in economics from Southern Methodist University, where she was named one of the Young Alumni of the Year in 2002. She brings a world of experience — from Main Street to Wall Street — when discussing the U.S. economy, international events, and movements in capital markets.
TIMES ARE TAXING
Politics — rather than economics — is driving real estate across the globe. The new changes to the U.S. tax code cap the deduction for state and local taxes to $10,000. Over the next decade, Marci predicts that low-tax states will see an increase in home buyers that will potentially put upward pressure on prices in those areas. Now is the time for the affluent home buyer to keep their accountants on speed dial because laws are changing quickly. A home is often a part of a larger portfolio and changing tax laws have an impact on the taxes on your individual assets, particularly if there is a change in geography. Though it may be discouraging for high-end buyers in hightax states in the U.S., don’t be surprised if, in the next few years, we see a financial innovation that mitigates the tax problem. In Europe, the political consequences of Brexit will impact luxury markets for the next decade, as financial centers such as Frankfort benefit from the gradual exodus of business from London.
46
Article and images used with permission from Luxury Portfolio International.
For more info, visit www.LuxuryPortfolio.com/blog
2
NEW FACES, SAME CENTRAL BANKS
3
IT’S ABOUT THE BALANCE
Every region of the globe is growing right now, for the first time in over a decade. Last year, India posted the strongest growth of the large economies at 7%, China expanded at over 6%, the Euro Zone grew 1.5%, Russia emerged from a deep recession, and economies in South America and Africa benefited from the recovery in commodity prices. As a result, central banks from Asia to Europe are rolling back monetary stimulus and tightening policy. In the United States, Jerome Powell has replaced Janet Yellen as Chairman of the Federal Reserve, and there are several open seats on the Board of Governors that need to be filled in 2018. But luxury buyers should expect the same policy of slow, steady interest rate rises as the global economy continues to improve.
Real estate is part of a portfolio that includes stocks, bonds and other assets. The strong gains in stocks over the last few years may mean that it’s time to rebalance that portfolio and add more real estate to the mix. S&P 500 index has tripled in value since its low in 2009, a pattern that’s been repeated in stock markets around the globe. With the strong gains in stock over the past few years, buyers are encouraged to embrace more real estate.
4
EMBRACE THE BLOCK, AND THE CHAIN
5
DON’T WAIT
Blockchain, an ever-growing list of records that are linked and secured using cryptography, has begun to influence financial services and will begin to change the way luxury buyers purchase homes in the near future. The first big real estate transaction using blockchain technology occurred in Ukraine last year. While still in its infant stages, blockchain technology promises to remake industries, just like the Internet transformed sectors from travel to finance. With real estate, blockchain technology is likely to have the greatest impact in less economically developed parts of the world where property rights are less secure, title is more difficult to establish and fraud is of greatest concern. It will make transactions cheaper and easier for the most sophisticated buyers, especially across borders.
In U.S. markets, two strong forces will collide in 2018: millennial home buyers and the new tax code. The oldest millennials are now first-time home buyers. As they seek to put down roots for their new families, the most affluent millennials will be attracted to low-tax areas that will minimize their payments to Uncle Sam. Just as they drove up rents in the urban areas of their choice over the last decade, they will put upward pressure on luxury homes in their most desired neighborhoods in the years to come. Couple these forces with synchronized global growth — which puts upward pressure on real estate prices and interest rates across the world — and it makes sense to lock in that attractive luxury property as soon as possible.
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog
luxuryportfolio.com | | 47
7
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
$6,950,000
180003751 2750 HOLCOMB RANCH LANE Kellen Flanigan 775-345-5950
$2,695,000
$2,499,000
$2,295,000 180001982 545 MOUNT MAHOGANY Joseph Wieczorek 775-335-5962
$2,200,000
$2,150,000 170014216 5260 CROSS CREEK LANE Christine Fuetsch 775-284-3107
$1,950,000 160014402 1950 HOLCOMB RANCH LANE Joyce Trombley 775-287-4901
$1,750,000 88 SMITH GAGE RD. Timothy Beaupre
$1,745,000
$1,560,000 180003559 20640 PARC FORET DRIVE Brooke Sullivan 775-849-9444
$1,500,000
350 ABIES Joseph Wieczorek
180001988 775-335-5962
160010307 2500 OLD RANCH ROAD Larissa Osborn 775-848-6579
5865 LAUSANNE Rob Wonhof
170006674 775-849-9444
$2,695,000 180003023 520 MOUNT MAHOGANY COURT Joseph Wieczorek 775-335-5962
180002465 5865 STRASBOURG COURT Rob Wonhof 775-750-2210
170011646 775-720-3122
180002824 20620 PARC FORET DRIVE Brooke Sullivan 775-849-9444
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
PE N DI N G
$1,400,000
2185 BACK NINE CT David Hughes
180001890 775-771-1783
$1,399,000
2400 MOUNTAIN SPIRIT J.P. Menante
170014028 775-691-9831
$1,295,000 255 DESATOYA COURT Alex Brown
180001979 775-850-7000
PE N DI N G
$1,285,000
15 PRONGHORN CT. M.C. Pierson
170008098 775-742-9442
$1,271,000 170005997 1220 SPRINGER COURT Dee McNeely 775-830-7000
4820 BUCKHAVEN RD Bonnie Lowder
170008194 775-722-1686
PE
PE
N
N
DI
DI
N
N 170009339 775-691-9831
G
G
$1,249,000
2575 KINNEY J.P. Menante
$1,249,900
$1,245,000 170007602 1015 TAOS RANCH COURT Diana Renfroe 775-843-0777
$1,225,000 612 HAWK HILL Scott Shandrew
180003286 775-850-3113
PE N DI N G
$1,200,000
6350 WETZEL COURT Rob Wonhof
180002537 775-849-9444
$1,199,000
180004041 5800 FLOWERING SAGE TRAIL Christine Fuetsch 775-284-3107
$1,188,818 170005724 1760 BOULDER RIDGE TRAIL David Hughes 775-771-1783
Current Dickson Luxury Listings Click on the MLS number to view each listing online.
180003558 20625 PARC FORET DRIVE Brooke Sullivan 775-849-9444
$1,150,000 125 GREENRIDGE Marilyn Johnson
170013693 775-284-3113
G
G
N
N
DI
DI
N
N
PE
PE
$1,175,000
$1,149,995 170005731 1760 SHARPE HILL CIRCLE David Hughes 775-771-1783 PE
G
G
G
N
N
N
DI
DI
DI
N
N
N
PE
PE
$1,095,000
170012730 5700 CEVENNES COURT Chris Whitney 775-772-2253
$1,094,000
$1,090,000 170008250 15040 N TIMBERLINE DRIVE Marilyn Minor 775-284-3031
$1,089,000 170016564 4089 WHISPERING PINE LOOP Larissa Osborn 775-848-6579
180000784 4093 WHISPERING PINE LOOP Larissa Osborn 775-848-6579
$1,093,750 180003616 4024 WHISPERING PINE LOOP Larissa Osborn 775-848-6579 PE
G
G
N
N
DI
DI
N
N
PE
N
G
G
G
N
N
N
DI
DI
180003614 4020 WHISPERING PINE LOOP Larissa Osborn 775-848-6579
DI
N
N
$1,026,500
170013641 4101 WHISPERING PINE LOOP Larissa Osborn 775-848-6579
PE
PE
PE
$1,043,000 170013679 4097 WHISPERING PINE LOOP Larissa Osborn 775-848-6579
$1,049,000
$1,015,000 180000782 4009 WHISPERING PINE LOOP Larissa Osborn 775-848-6579
INTRODUCTION THE WORLD OF WEALTH CONTINUES TO GROW AT BREAKNECK SPEEDS While this is a global phenomenon, with growth in China and Southeast Asia, as well as Europe (thanks to a resurgence in Spain and Italy, and continued growth in Germany and France), it is the United States that leads the charge as the world’s powerhouse in mega-wealth creation. In 2017 alone, personal wealth in the U.S. grew by $8.5 trillion, followed by China with $1.7 trillion in growth.1 Americans’ personal net worth now tops $96 trillion and financial wealth has risen 9% since 2016, to $78 trillion, according to the U.S. Federal Reserve. Cash savings have grown by $600 billion dollars in the past year and top $11 trillion in total. The wealthiest Americans have benefitted the most in the post-recession economy; the top 1% hold 39% of the assets.
22%
Top 1%
SHARE OF WEALTH: U.S.
39%
Source: U.S. Federal Reserve
Next 2–9% Bottom 90%
39%
Other boats are beginning to rise. Along with the growth in wealth, America is enjoying a surge in the number of affluent households as well. In just one year, the U.S. added 745 thousand households2 to the ranks of families earning at least $250,000 gross annual income. This represents an 18% increase, bringing the total to nearly 5 million affluent U.S. households (roughly, the top 4% of households).
Bottom line: there are more affluent consumers now, and they are wealthier, than ever before.
But organic growth in wealth is just one aspect of the trend. In fact, the coming year(s) represents a unique moment in time. With phenomenal gains in the stock market, combined with new legislation that favors wealthy families, we expect this is just the beginning to what could be a boom time for luxury real estate. And we are not alone. A 2014 report from the Center of Wealth and Philanthropy at Boston College estimated that in a bull market, also known as 4% growth, similar to the economic climate we are in now, adding a $5 million exemption in the estate tax could put $11.3 trillion in the hands of heirs by 2026 and $89.4 trillion by 2061. We believe this is good news for the luxury real estate market and could impact the space positively for the decade to come. We see the effects today as the majority of buyers seeking $1 million-plus homes are 25–49 years old and have inherited or plan to inherit significant wealth. Particularly interesting, is the increased growth of this market at the younger end of the range. However, this buyer is a mature adult and while the group includes “Millennials” they look and behave quite differently from the stereotypical Millennial. They are, on average, 37 years old, married and have young families. Their careers are solid and their future prospects are high. We are witnessing the rise of The New Aristocracy. It is this consumer who has begun powering the $1 million-plus real estate market, more so than their older counterparts, the 50-and-over Luxury Loyalists, who historically have driven the high end of the real estate market.3 While the older group is very wealthy, and is the dominant force in overall luxury spending today, their plans for real estate are for downsizing and economizing, on a relative basis. In this report, produced exclusively for Luxury Portfolio International® members and their clients, we explore the wants and needs of these two important buyer groups.
Credit Suisse Global Wealth Report 2017. Current Population Survey (CPS) Annual Social and Economic (ASEC) Supplement. The CPS is a joint effort between the Bureau of Labor Statistics and the Census Bureau. 3 Based on 2017 NAR, plus existing homes Census statistics of $1M+ sales, approximately 77% buyers were 24–49 years old vs 23% buyers were 50+ years old. 1 2
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog
THE NEW ARISTOCRACY The group we refer to as The New Aristocracy are high-net-worth consumers aged 25–49, encompassing both Millennials and the younger portion of Generation X. We came to the term “New Aristocracy” because this group is unlike any American generation before it. They will ultimately be larger in number and greater in economic power than the wealthy in the gilded age of the Rockefellers. Beyond that, they will have a lifetime of experience in living a luxury lifestyle, as they are the children of the very wealthy. Their experience with fine real estate, fashion, travel, and a host of other categories has made them savvy consumers with many demands.
INHERITED WEALTH The New Aristocracy is more likely to have grown up in affluent and wealthy families and stands to inherit nearly $4 million on average (58% expect to inherit more than $1 million). Interestingly, this is a largely U.S. phenomenon, as most wealth worldwide has been earned in the lifetime of the individual rather than inherited. How would you characterize the economic status of your household when you were a teenager? New Aristocracy: Ages 25–49 | Luxury Loyalists: Ages 50+
Middle Class or Lower
23%
35%
Upper Middle Class
36%
35%
Affluent or Wealthy
41%
30%
How much,* if anything, do you expect to receive from inheritance from your parents, grandparents or other family members? New Aristocracy: Ages 25–49 | Luxury Loyalists: Ages 50+
No Inheritance
14%
26%
Under $1 Million
28%
28%
$1 Million to under $5 Million
24%
25%
$5 Million to under $10 Million
18%
15%
$10 Million or More
16%
7%
Average Inheritance (Millions USD)
$3.8 $2.6
*Include amounts already received as well as future inheritance from all sources, before taxes (e.g., cash, stocks, bonds, real estate, art, business assets, other assets).
WHAT DOES IT MEAN FOR REAL ESTATE? Younger buyers who have grown up with wealth have greater exposure to luxury, are more educated and aware of their likes and dislikes. They know brands, they demand quality and they are familiar with real estate.
Luxury Loyalists are not out of the loop entirely when it comes to inheritance, 47% expect to take in $1 million or more, however 26% expect to receive no inheritance at all, a stark contrast from the New Aristocracy.
Inheritance is often a financial windfall that helps out with down payments or enables buyers to purchase with cash. Wealthy families have been gifting assets to heirs ever since a George W. Bush-era provision allowed for greater exemption in lifetime gifting. Between 2011 and 2014 the transfer of million-dollar-plus gifts increased by a factor of 20 compared to 2007–2010 (which was in line with historical norms). As a result, half a trillion dollars—in million dollar gifts—have been transferred already and it is only the beginning.
NUMBER OF U.S. FAMILIES WHO GAVE GIFTS OF $1 MILLION OR MORE
TOTAL VALUE OF GIFTS OF $1 MILLION OR MORE
7,641
2007–2010 2011–2014
$25.9 BILLION 171,303
$549.5 BILLION
Source: U.S. Internal Revenue Service, Tax Statistics
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blogLuxury Portfolio International®
|| 3
HALLANDALE, FL | $5,950,000
REAL ESTATE TRENDS
How many of each of the following room types do you want to have in your next personal residence?
The New Aristocracy buyer that is looking to spend at least $1 million in the next one to three years, is primarily looking for an urban residence, and many are seeking a living area of 5,000 square feet or larger. Given their growing families and potential plans to live with multiple generations under the same roof, the younger buyers’ need for greater square footage makes perfect sense: over half (53%) are looking for something over 7,500 square feet, (and a surprisingly large percentage of buyers are looking at 20,000 square feet or more) and many are looking for four or more bedrooms and three or more bathrooms. In which one type of location do you want your next personal residence? Urban
54%
Suburban
38%
Rural
9%
How many square feet are you looking to have in your next personal residence? Under 1,000
—
1,000 Under 2,000
1%
2,000 Under 3,000
5%
3,000 Under 5,000
16%
5,000 Under 7,500
25%
7,500 Under 10,000
15%
10,000 Under 20,000
15%
20,000 or More
23%
Average Number of Bedrooms
4.3
Average Number of Bathrooms
3.7
Average Number of Parking Spots in a Garage
2.9
Design Sensibility The New Aristocracy has mixed tastes. While Modern continues to grow in popularity, classical styles such as Victorian, Tudor and Brick Georgian homes proved just as popular. While on the surface these styles stand in stark contrast, one representing complexity and detail while the other prioritizes clean lines and open spaces, in fact this trend is consistent with what many buyers are looking for. Buyers today often desire a more traditional exterior and a home that has some architectural significance and provenance which blends into its surroundings. However, inside the home they are looking for open spaces, contemporary design and modern conveniences. For urban and suburban/rural buyers alike, the loft style home is in high demand. They like how the loft maximizes space by eliminating the majority of interior walls and utilizes an open floor plan. Lofts can offer the charm of renovated old buildings, such as barns and warehouses. Which of the following architectural or home styles are you thinking about purchasing for your next primary personal residence? Victorian
28%
Modern
27%
Loft
24%
Tudor
24%
Brick Georgian
23%
Article and images with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog ® 4 || Luxury Portfolio used International
THE NEW ARISTOCR ACY
MOST DESIRED FEATURES AND AMENITIES The New Aristocracy has a need for security and privacy that may seem surprising considering this is the generation known for sharing their personal life online. Among their top “essential” next home features are both entertaining options (like outdoor spaces, commercial-grade kitchen appliances, and nearby dining options) and advanced security features (such as surveillance cameras and monitored security systems). While these features have always been important for the wealthy, the reality of the world today makes them absolute necessities for this younger generation.
TOP 5 OVERALL DEEMED “ESSENTIAL” NEXT HOME FEATURES
Fitness A well-outfitted gym and spa area are in high demand. These rooms are highly practical for the time-stretched high-net-worth buyer and physical health is among the top priorities again this year. The search for a pool is on for younger buyers as they seek spaces catering to children and adult party-goers alike. Essential
1 2
Has Outdoor Space such as a Patio or Terrace
3
Multiple View Surveillance Cameras
Steam Shower
45% 47% 8%
Spa/Jacuzzi/Hot Tub
45% 48% 8%
Outdoor Pool
41% 50% 10%
Gym/Fitness Room
37% 54% 9%
In-home technology is officially part of daily life. As the Internet of Things (IoT) connects our appliances with our voice-controlled devices, high-net-worth consumers are leading the charge to at home integration. Smart home technology centered around sustainable living is the item of the year. High-efficiency windows and doors along with an equally efficient HVAC system that integrates with the smartphone is a prime selling feature for easy living. Essential
5
Does not matter
Sustainability Near Restaurants and Dining Options
4
Nice to have
Monitored Security System/Alarm
Commercial Grade Kitchen Appliances
Nice to have
Does not matter
Incorporates Highest Efficiency HVAC
45% 49% 6%
Incorporates Highest Efficiency Windows/Doors
41% 52% 7%
Incorporates Smart-Phone Control
38% 55% 7%
Water-Efficient Landscaping
38% 55% 8%
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blogLuxury Portfolio International®
|| 5
BELLAIRE, TX | $3,688,000
Entertaining
Specialty Spaces
The kitchen remains a focal point for the home, with commercial-grade appliances, dual refrigerators and dishwashers on the must-have list. The New Aristocracy is also keen to have specialized cooking areas like a separate catering kitchen and an outdoor kitchen for poolside entertaining.
The New Aristocracy love the idea of specialty rooms. They enthusiastically see these features as important parts of their home experience and there appears to be no limit to what they want in a home—this could be the reason why younger buyers are interested in larger spaces than usual.
Essential
Nice to have
Does not matter
Essential
Nice to have
Does not matter
Commercial Grade Kitchen Appliances
52% 41% 7%
Outdoor Patio/Terrace
55% 39% 6%
Dual Refrigerators
43% 48% 8%
Formal Living Room
50% 41% 9%
Island/Breakfast Bar
43% 50% 7%
Dedicated Laundry Room
48% 45% 7%
Butler Pantry/Storage
42% 49% 10%
Dedicated Home Office
47% 46% 7%
Formal Dining Room
41% 52% 7%
Dedicated Home Theater
46% 45% 9%
Separate Outdoor Kitchen
39% 53% 8%
Dual Master Suite Closets
43% 52% 4%
Dedicated Wet Bar Area
39% 54% 7%
Library or Music Room
41% 47% 12%
Dual Dishwashers
37% 46% 16%
Car/Auto Work Area
41% 42% 17%
Separate Catering Kitchen
35% 49% 16%
Separate Guest Suite/ Guest Quarters
40% 53% 7%
Article andPortfolio imagesInternational used withÂŽ permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog 6 || Luxury
THE NEW ARISTOCR ACY
Privacy & Security
Community Amenities & Proximity
The New Aristocracy expect homes to be outfitted with the latest technology capable of enabling privacy and security, often driven by a desire for convenience.
When it comes to where people want to live, proximity to friends and family is as important as stores and restaurants. In this time of enclaving and seeking communities of the known, wealthy buyers do not want to be far from loved ones.
Essential
Nice to have
Does not matter
Multiple-View Surveillance Cameras
54% 39% 7%
Monitored Security System/Alarm
52% 41% 7%
Proximity to Dining
55% 39% 6%
Auto Control Security Surveillance
46% 43% 11%
Proximity to Family
48% 39% 13%
Built in Safe/Storage
46% 47% 8%
Gym/Fitness Center/ Health Club
41% 51% 8%
Onsite Security Monitoring/Detail
45% 43% 12%
Proximity to Golf
39% 44% 17%
Gate House/Protected Grounds
40% 51% 9%
Car Park/Washing Services
31% 56% 13%
Valet Package/Dry-Cleaning
31% 52% 17%
Smart Home
Essential
Nice to have
Does not matter
With the demand for an outdoor pool high among younger buyers, or younger cohort want the maintenance of their home streamlined (or covered entirely) by automation. Going one-step further is the “whole house control system” that synchronizes products from various manufacturers and allows for a single, secure point of contact. This is a particularly hot topic as the price for a property increases. Essential
Nice to have
Does not matter
Whole-House Control System
45% 46% 9%
Auto Control HVAC
43% 48% 9%
Auto Control Entertainment System
43% 47% 11%
Auto Control Lighting
42% 48% 10%
Auto Control Music System
40% 48% 13%
Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blogLuxury Portfolio International®
|| 7
Significant Dickson Realty Sales in 2018
SOLD $4,750,000
Tahoe City
SOLD $3,550,000
Montrêux
SOLD $2,290,000
Montrêux
SOLD $2,065,000
Montrêux
SOLD $1,720,000
SW Reno
SOLD $1,680,000
Sparks
SOLD $1,480,000
Arrowcreek
Seller & Buyer Representation by Kellen Flanigan, 775-345-5950
Buyer Representation by Brooke Sullivan, 775-849-9444
Seller Representation by Joseph Wieczorek, 775-335-5962
Seller Representation by Clay Alder, 775-745-5708
Seller & Buyer Representation by Brooke Sullivan, 775-849-9444
Seller & Buyer Representation by Brooke Sullivan, 775-849-9444
Seller & Buyer Representation by Diana Renfroe, 775-843-0777
SOLD $1,400,000
Galena Forest
Seller Representation by Rebecca Dickson, 775-284-3044
Significant Dickson Realty Sales in 2018
SOLD $1,350,000
Montrêux
SOLD $1,275,000
Arrowcreek
SOLD $1,195,000
Montrêux
SOLD $1,180,000
South Suburban
SOLD $1,159,130
Pine Bluff
SOLD $1,155,000
Montrêux
Seller Representation by Larissa Osborn, 775-848-6579 & Buyer Representation by Diana Renfroe, 775-843-0777
Seller Representation by Rob Wonhof, 775-849-9444 & Buyer Representation by Brooke Sullivan, 775-849-9444
SOLD $1,155,000
Pine Bluff
SOLD $1,099,000
Montrêux
Seller Representation by Monica Gore, 775-849-9444 & Buyer Representation by Brooke Sullivan, 775-849-9444
Seller Representation by Brooke Sullivan, 775-849-9444
Seller Representation by Larissa Osborn, 775-848-6579
Seller Representation by Joseph Wieczorek, 775-335-5962
Seller Representation by Rebecca Dickson, 775-284-3044
Seller Representation by Brooke Sullivan, 775-849-9444
Significant Dickson Realty Sales in 2018
SOLD $1,090,000
South Suburban
SOLD $1,049,000
MontrĂŞux
Seller Representation by Lori Welsh, 775-771-6574
Seller & Buyer Representation by Rob Wonhof, 775-849-9444
SOLD $1,040,000
South Suburban
SOLD $1,025,000
MontrĂŞux
Seller Representation by Monica Gore, 775-849-9444
Seller Representation by Monica Gore, 775-849-9444
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.
SOLD $1,000,000
Old South Suburban
Seller Representation by Cathy Hamel, 775-224-1957
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
SPARKS 775.685.8800
DOWNTOWN 775.324.7000
PORTOLA 530.832.1700
DicksonLuxury.com | luxury@dicksonrealty.com
© 2018 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.