Luxury Trends for Reno/Sparks 1st Quarter 2019 by Dickson Realty

Luxury Trends 1st Quarter 2019 Luxury Report from the Market Leader

1st Quarter, 2019 DicksonLuxury.com

COVER PROPERTY:

Welcome... to our 1st quarter 2019 Luxury Market Report.

1035 Silver Fox Court Verdi, NV $2,200,000 MLS#190002855

If you simply look at the numbers from first quarter 2019, they may not really lead you to the right conclusion regarding the luxury market in Northern Nevada. They might lead you to believe we are on a downward trend for luxury home sales that are priced $1,000,000 and above. To better understand the real estate market, we need to look at several factors. First, there was a lot of uncertainty at the end of 2018 and consumer confidence was bouncing up and down, sometimes without a scientific reason. Interest rates, while not always important in luxury sales because many buyers use cash, were going up making people rethink the economy in general. There was still a lot of talk about the potential of a recession. Finally, we had one of the stormiest winters on record. I do not remember Donner Pass and other mountain highways closing due to weather as many times as in the first quarter. Many out of area buyers were unable to get here to buy. Even local buyers and sellers did not want to be out on the streets. So, seeing that our total home sales were down 19% compared to the first quarter of 2018, one could think this is not going to be a good year for luxury. I happen to believe 2019 home sales in Northern Nevada will be much like 2018. Our business and income tax friendly environment will entice many people to move from California. EDAWN continues to attract companies into our area, and our shortage of housing inventory (although less so in the luxury market) is far from over. If we consider 8 months as a “neutral” market (I think a little longer in these price ranges) with neither buyer nor seller at an advantage, we are pretty balanced until about $1,500,000. Even above that, we are in a fairly balanced market. While the $1.9 to $2.0 million market has a 4 year supply, once above $2 million, we return to a one year supply of inventory. Will we be able to catch up to the record breaking sales of 2018? I believe so, but time will tell. What we do know is that buyers are more confident in what they want when purchasing a home. Globally, 78% of luxury home buyers say their residence is a “home” rather than just a “house”. That is, a place with emotional ties. Value also beats price, and for most

luxury home buyers value means a near-professional quality kitchen, well designed entertaining and family space, and outdoor living features that extend the home beyond its walls. If you are thinking about buying or selling in this complex market, I encourage you to call on a Dickson Realty luxury real estate expert to assist you. —President & CEO Dickson Realty

Jan-Mar 2019 vs. Jan-Mar 2018 Reno/Sparks Sales Over $1 Million*

-19%

-2.68%

+1.85%

-21.88%

TOTAL HOMES SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2019: 33 2018: 52

2019: $1,455,403 2018: $1,495,483

2019: $321.09 2018: $315.27

2019: 175 2018: 224

*Source: Northern Nevada Multiple Listing Service (NNRMLS) residential volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - March 31, 2019, as of 4/5/2019

Top 5 Luxury Real Estate Companies Q1 2019 Market Share for Reno/Sparks Homes Sold Over $1 Million*

37.02%

DICKSON REALTY 8.62%

RE/MAX Affiliates

Dickson Realty market share for Reno/Sparks homes sold over $2 Million in 2019 =

6.61% CHASE 6.55% OLIVER 5.91%

FERRARI-LUND

70.67%

Luxury Home Sales By Month Over $1 Million* 2019 vs. 2018

2019 2018 UNITS SOLD

*Source: Northern Nevada Multiple Listing Service (NNRMLS) residential volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - March 31, 2019, as of 4/5/2019

I’M LOCAL I’M GLOBAL

INDUSTRYLEADING SALES. WORLD-CLASS SERVICE.

MORE U.S. HOME SALES VOLUME $32 BILLION MORE U.S. HOME SALES VOLUME IN 2018 THAN OUR CLOSEST COMPETITOR AMONG THE TOP 500 FIRMS 300

Leading Real Estate Companies of the World® Keller Williams

565 COMPANIES

4,300 OFFICES

130,000 SALES ASSOCIATES

OVER 70 COUNTRIES

250

Non-LeadingRE Independents Berkshire Hathaway Home Services RE/MAX

$222

Sotheby’s International Realty Century 21

200

HomeSmart

$192

ERA

$182

Better Homes & Gardens Realty Executives Exit Realty

150

100

Leading Real Estate Companies of the World

1.1 MILLION GLOBAL TRANSACTIONS

Coldwell Banker

$254

$89

$83 $72

$30 $14

$14

$12

$.5

Volume shown in billions of dollars This bar chart is sourced from REAL Trends Top 500 for 2018, realtrends.com

Equal Housing Opportunity.

As an affiliate of Leading Real Estate Companies of the World,® Dickson Realty is a local and global market leader working on your behalf. LeadingRE’s world-class marketing resources and connections allow us to provide you with a truly exceptional real estate experience.

Luxury Home By Price Range Over $1 Million* In Reno/Sparks ACTIVE as of Mar 31

# OF ACTIVE & SOLD

SOLD Jan - Mar 2019

MILLIONS OF $

Months of Inventory

Active Listings By Price Range

MONTHS OF INVENTORY

Over $1 Million* In Reno/Sparks 2019 2018

MILLIONS OF $ *Source: Northern Nevada Multiple Listing Service (NNRMLS) residential volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - March 31, 2019, as of 4/5/2019

2750 Holcomb Ranch Lane Reno, NV 89511 $4,900,000 MLS#180003751

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

$5,950,000

5635 Foret Circle

180013423

Carol Bond, 775-690-1870

$4,900,000

2750 Holcomb Ranch Lane

180003751

Kellen Flanigan, 775-345-5950

PE N DI N G

$4,750,000

20282 Bordeaux Drive

$2,795,000 300 Hirsh Rd

$2,488,000

2372 Diamond J Place

190003484

Rob Wonhof, 775-849-9444

$3,249,500

6795 De Chardin Lane

190003827

$2,499,950

190004906

$2,349,938

Amanda Gunter, 775-525-1528

Lori Welsh, 775-771-6574

6960 Eagle Creek Court

135 Keaton Court

190001441

Rob Wonhof, 775-849-9444

180004473

Lori Welsh, 775-771-6574

190004757

Charles Johns, 775-750-8883

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

PE N DI N G

$2,295,000

20307 Bordeaux Drive

190001818

Brooke Sullivan, 775-849-9444

$2,221,000

5012 Bordeaux Court

180016675

Monica Gore, 775-849-9444

C e ov r H om e

$2,200,000

1035 Silver Fox Ct.

190002855

Kathie Bartlett, 775-741-5675

$1,999,999

5880 Flowering Sage

180008113

Darlene Sharpe, 775-338-4102

6490 Montreux Lane

$1,949,000

180007523

$1,895,000

180016453

$1,800,500

Rob Wonhof, 775-849-9444

5730 Dijon Circle

180013869

Rob Wonhof, 775-849-9444

PE N DI N G

$1,835,000

5036 Bordeaux Court

Brooke Sullivan, 775-849-9444

5072 Bordeaux Court

180016673

Monica Gore, 775-849-9444

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

$1,800,000

2475 Faretto Lane

190001376

M.C. Pierson, 775-742-9442

$1,795,000 7550 Briargate

190001356

Patrick Fletcher, 775-240-7970

PE N DI N G

$1,786,500

5060 Bordeaux Court

$1,749,500

1730 Sharpe Hill

180016676

$1,750,000

180017752

$1,745,000

180016451

$1,649,000

Monica Gore, 775-849-9444

David Hughes, 775-771-1783

5084 Bordeaux Court

2500 Old Ranch Road

180016452

Brooke Sullivan, 775-849-9444

160010307

Larissa Osborn, 775-848-6579

PE N DI N G

$1,680,000

5024 Bordeaux Court

Brooke Sullivan, 775-849-9444

6864 Masters Drive

180012644

J.P. Menante, 775-691-9831

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

PE N DI N G

$1,648,000

6704 Masters Drive

180008758

Rebecca Dickson, 775-742-2120

$1,600,000

5096 Bordeaux Court

180016678

Monica Gore, 775-849-9444

PE N DI N G

$1,595,000

5048 Bordeaux Court

180016677

Monica Gore, 775-849-9444

$1,549,000

5795 Clarens Court

180014694

Brooke Sullivan, 775-849-9444

2145 Green Tree Lane

190002204

Marilyn Farthing, 775-771-4948

$1,585,000

$1,560,000

20640 Parc Foret Drive

180003559

Brooke Sullivan, 775-849-9444

20620 Parc Foret Drive

180002824

Brooke Sullivan, 775-849-9444

$1,500,000

20600 Parc Foret Drive

180002817

Monica Gore, 775-849-9444

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

$1,499,999

9670 Passa Tempo Drive

180013287

$1,485,000

190001752

$1,450,000

190001601

$1,375,000

Beth Nitz, 775-772-5616

1018 La Rue Ave

190002225

Rebecca Dickson, 775-742-2120

PE N DI N G

$1,480,000

16956 Rue du Parc

$1,295,000

4400 Mountaingate

Rob Wonhof, 775-750-2210

Beth Cooney, 775-544-6026

10075 E Desert Canyon

2435 Whites Creek Lane

190000726

Monica Gore, 775-849-9444

190000671

David Hughes, 775-771-1783

PE N DI N G

$1,350,000

2531 Northern Pine Court

190003035

Jeff Sallan, 775-453-4568

$1,325,000

16020 Geyser Road

190002521

Diana Renfroe, 775-843-0777

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

PE N DI N G

$1,295,000

13485 Evening Song

190004762

$1,275,000

180013931

$1,204,900

Joseph Wieczorek, 775-335-5962

4540 Mountaingate

190002496

Joseph Wieczorek, 775-335-5962

PE N DI N G

$1,250,000

Jeff Sallan, 775-453-4568

$1,200,000 4872 Sierra Pine

Kristen Gil, 775-762-7653

4056 Whispering Pine Loop

180017105

Larissa Osborn, 775-848-6579

2950 Juliann Way

N DI N G 180017467

$1,199,000

180016543

$1,190,000

2551 Lakeridge Shores E.

190003432

Liza Bradley, 775-742-0838

PE N DI N G

$1,195,000

3275 Trumpeter Court

Lori Welsh, 775-771-6574

4060 Whispering Pine Loop

180014861

Larissa Osborn, 775-848-6579

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

$1,175,000

14785 Chartreuse Court

190003315

Tim O'Brien, 775-233-0160

$1,175,000 4780 Aberfeldy

190001326

Delores Zunino, 775-772-1056

PE N DI N G

$1,169,000

3330 Martini Rd

180009907

Cathy Hamel, 775-224-1957

$1,168,750

4068 Whispering Pine Loop

180012022

Larissa Osborn, 775-848-6579

PE N DI N G

$1,160,000

3172 Vista Favoloso

$1,150,000

2440 La Mancha Drive

190001970

$1,155,000

180017847

$1,145,000 213 Waterman

Lori Welsh, 775-771-6574

4052 Whispering Pine Loop

190003626

Larissa Osborn, 775-848-6579

180018113

Joseph Wieczorek, 775-335-5962

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

4064 Whispering Pine Loop

$1,143,500

180013614

$1,140,000

190004313

$1,125,000

180015383

$1,095,000

Larissa Osborn, 775-848-6579

4028 Whispering Pine Loop

180017103

Larissa Osborn, 775-848-6579

PE N DI N G

$1,125,000

9972 Via Mira Monte

Carol Bond, 775-690-1870

20585 Parc Foret Drive

180010730

Brooke Sullivan, 775-849-9444

PE N DI N G

$1,095,000

3975 Lamay Lane

Beth Nitz, 775-772-5616

20645 Parc Foret

4093 Whispering Pine Loop

180000784

Larissa Osborn, 775-848-6579

$1,094,000

180007397

Brooke Sullivan, 775-849-9444

$1,093,750

4024 Whispering Pine Loop

180003616

Larissa Osborn, 775-848-6579

Current Dickson Luxury Listings Click on the MLS number to view each listing online.

$1,093,000

2645 Westview Blvd

180009080

Diane Macdonald, 775-742-2343

$1,030,000

577 Saint Lawrence Ave.

190003738

Don Dees, 775-742-0669

4089 Whispering Pine Loop

$1,069,000

2849 Mountain Springs Road

$1,089,000

170016564

$1,069,900

180007997

$1,039,777

Larissa Osborn, 775-848-6579

Carol Bond, 775-690-1870

4017 Whispering Pine Loop

3050 Blue Spruce

180003614

Larissa Osborn, 775-848-6579

4020 Whispering Pine Loop

180004439

Joseph Wieczorek, 775-335-5962

$1,026,500

180012024

Larissa Osborn, 775-848-6579

$1,015,000

4009 Whispering Pine Loop

180000782

Larissa Osborn, 775-848-6579

SNAPSHOT OF TODAY’S LUXURY REAL ESTATE BUYER DEMOGRAPHICS* 4% 28%

57% 37%

Male

43%

Female

30%  Millennials (20–39)  Gen X (40–53)  Boomers (54–72)

Average age

Have children under 18

Married

50%

83%

 Matures (73+)

FINANCIAL SNAPSHOT (GLOBAL, REPORTED IN EQUALIZED USD) Average income

$473,000

GLOBAL AFFLUENT POPULATION:

17%

GLOBAL BREAKDOWN: Average assets

$8.75 million

North America

Europe

Middle East

Asia-Pacific (Excluding China)

China

Average liquidity (cash, stocks, bonds, retirement assets)

$5.95 million

18%

19% 31%

Average amount in real estate holdings

$2.60 million *This group has “self-identified” in our study as those who purchase luxury property/real estate “every time or almost every time” they are in the market.

Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog

23% 7%

Luxury real estate is a discretionary purchase, and therefore it is critical to take a 360-degree look at the lifestyle passions of this consumer as a way to develop an insightful, relevant and impactful marketing

TOP 5 PASSIONS

campaign; the top passions below give insight into affluent homeownersâ&#x20AC;&#x2122; greatest passions, and how they differ around the world.

MOST DISTINCTIVE PASSIONS BY REGION

Worldwide

North America

Europe

Middle East

Asia-Pacific

Traveling

Fine Dining

Fashion/Style

Shopping

Running

Watching Movies/TV

Wine

Interior Design

Personal Appearance

Shopping

Reading Books

Fitness & Exercise

Cars

Technology & Electronics

Beer

Health & Wellness

Cooking

Outdoor Activities

Entertaining at Home

Recreational Sports

Fitness & Exercise

Volunteering

Collecting Art

Video Gaming

In fact, based on a recent study conducted on behalf of Luxury Portfolio International,ÂŽ visitors to its flagship website luxuryportfolio.com, track perfectly with the attributes and interests outlined above. Additionally, luxuryportfolio.com visitors were found to be deeply passionate about investing and investment services.

They are also business and political news readers and are passionate about green living and home decor. These insights can be used to drive the purchase of something as complex as a Google Adwords display campaign, or as simple as a one-off Facebook social campaign.

Article and images used with permission from Luxury Portfolio International. For more info, visit www.LuxuryPortfolio.com/blog

Significant Dickson Realty Sales in 2019

SOLD $3,100,000 Montrêux Seller Representation by Monica Gore, 775-849-9444 & Buyer Representation by Diane Macdonald, 775-742-2343

SOLD $2,050,000

Montrêux

Seller Representation by Brooke Sullivan, 775-849-9444 & Buyer Representation by Rob Wonhof, 775-849-9444

SOLD $1,791,500

Saddlehorn

SOLD $1,500,000

ArrowCreek

Seller Representation by Sherry Franceschi, 702-498-5488

Seller Representation by Joseph Wieczorek, 775-335-5962

Montrêux

SOLD $2,436,090

Seller Representation by Monica Gore, 775-849-9444 & Buyer Representation by Brooke Sullivan, 775-849-9444

SOLD $1,800,000

Gardnerville

Seller Representation by Brie Forrester, 530-913-1870

SOLD $1,662,374

Seller Representation by Don Dees, 775-742-0669

SOLD $1,425,000

Seller Representation by Jay Kenny, 775-848-6549

Pine Bluff

ArrowCreek

Significant Dickson Realty Sales in 2019

SOLD $1,365,000

South Suburban

Seller Representation by Rebecca Dickson, 775-742-2120

SOLD $1,340,000

Southwest Reno

SOLD $1,250,000

Southwest Reno

Seller Representation by Rebecca Dickson, 775-742-2120

SOLD $1,295,000

Montrêux

SOLD $1,200,000

ArrowCreek

SOLD $1,190,000

Montrêux

Pine Bluff

SOLD $1,158,500

South Suburban

Seller Representation by Monica Gore, 775-849-9444

Seller Representation by Maria Militante, 775-303-5958 Buyer Representation by Liza Bradley, 775-742-0838

SOLD $1,183,850

Seller Representation by Larissa Osborn, 775-848-6579

Seller Representation by Rebecca Dickson, 775-742-2120

Seller Representation by Brooke Sullivan, 775-849-9444

Seller Representation by Rebecca Dickson, 775-742-2120

Significant Dickson Realty Sales in 2019

SOLD $1,045,000

St. James Village

Seller Representation by John Arnold, 775-742-1156

LUXURY MARKET LEADERS LUXURY MARKET EXPERTS

Dickson Realty has more experience in luxury real estate than any other company in the region, and as the market leader over the past 20 years Dickson Realty is responsible for 47% of luxury sales for homes priced higher than $1 million in the Reno/Sparks region.* Dickson Realtyâ&#x20AC;&#x2122;s agents who work within the Dickson Luxury division have extensive experience in luxury residential real estate. They utilize specialized marketing tools and methods that are available exclusively to Dickson Realty agents and clients.

SALES OVER $1,000,000 1998 - 2018* 50% 40%

Dickson Realty has helped more home buyers and sellers than any other real estate company in the

30%

region, and is responsible for 47% of luxury sales for homes priced higher than $1 million in the Reno/

20%

Sparks region for the period 1/1/1998 - 12/31/2018.* 10%

*Source: Northern Nevada Regional Multiple Listing Service (NNRMLS), Reno/Sparks (Area 100) residential property sales over $1 million, Jan 1, 1998 - Dec 31, 2018

ax /m re

AL TY

c af ha fe fil se rr ia ar te s i c b - lu n se d le ct

6704 Masters Drive Reno, NV 89511 $1,648,000 MLS#180008758

SINGULAR FOCUS EXCEPTIONAL TEAMWORK

In todayâ&#x20AC;&#x2122;s complex luxury real estate environment, having experienced professionals on your side is more important than ever. Whether youâ&#x20AC;&#x2122;re buying or selling, your Dickson Realty agent will work tirelessly to deliver the highest possible value in the shortest amount of time and with the least amount of inconvenience. We affiliate with mortgage, escrow and title, and home warranty companies that share our commitment to quality service. We also partner with the full-service commercial firm, DCG.

SYNERGY

HOME MORTGAGE

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

© 2019 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.