Dickson Realty Mid-Year 2020 Luxury Trends

Luxury Trends Mid-Year 2020 Luxury Report from the Market Leader

Mid-Year, 2020 DicksonLuxury.com

The second quarter of 2020 lasted years!

It doesn’t seem possible we are mid-way through 2020. From mid-March to today we have shifted, pivoted, and redefined everything we felt we knew about home, family, relationships, careers, travel, finances, fashion and recreation, just to name a few.

COVER PROPERTY:

10241 Zuni Ridge Reno, NV 89511 $1,890,000 MLS# 200007624

We believed just before the end of Q1 2020, this was finally the year that would break all records in the luxury real estate market. It was going to be an incredible year... all the stars had aligned. Not just our proximity to California, but interest rates were at a historic low, there were lovely properties on the market, we had incredible demand, and while the stock market was up and down, most people had developed a comfortable strategy.

At the end of Q1 2020, nearly every metric was positive when compared to Q1 2019: the number of homes sold (+36%), average sold price (+6%), and average sold price per square foot (+4.7%). Average days on the market was up slightly, but not alarmingly so (+6.3%, which translates to 11 more days on the market).

Compare those statistics to today’s metrics and as compared to mid-year 2019: number of homes sold (-13%), average sold price (+0.7%), average sold price per square foot (+2.6%) and average days on the market (+11.2%, which translates to 18 more days on the market); and they can present confusing pictures. For instance, the downward trend of the number of homes sold is not from a lack of demand, it is from a lack of inventory. Some luxury sellers are not comfortable putting their house on the market at this time, and yet there probably hasn’t been a better time to list your luxury home than right now.

Our luxury market remains strong. We believe prices will continue to rise due to the lack of inventory, low interest rates and Nevada’s tax advantages. Being located next to California, where many people already know how wonderful our community is, is also an advantage. In the recent Resonance Consultancy “Annual Small City Ranking”, which rates American cities with populations between 100,000-500,000, Reno came out on top (up from 6th place last year), and edged out other highly ranked cities, such as Naples, FL; Santa Fe, NM; and Savannah, GA. The ranking criteria used factors such as natural environment, airport connectivity, sports teams, nightlife, educational attainment and online reviews.

Many elements of our luxury market have changed: who the luxury buyer in Northern Nevada is; where they are coming from; what they are looking for (or not looking for); and most importantly how they are finding, viewing and buying luxury homes in our area. We created our Luxury Division in 1987, before many of our fine competitors existed. Our experienced agents have seen the market change and evolve. They would love to share their insights with you. If you are thinking of buying or selling, we hope you will call one of the Luxury agents at Dickson Realty.

Stay healthy, happy and safe. Wear a mask.

— CEO, Dickson Realty

Jan-Jun

2020 vs.

Jan-Jun

2019 Reno/Sparks Sales Over $1 Million*

-13%

+0.7%

+2.6%

+11.2%

TOTAL HOMES SOLD

AVERAGE SOLD PRICE

AVERAGE PRICE PER SF

AVERAGE DAYS ON MARKET

2020: 96 2019: 110

2020: $1,476,037 2019: $1,465,949

2020: $336.49 2019: $327.99

2020: 179 2019: 161

*Source: Northern Nevada Multiple Listing Service (NNRMLS) residential volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - Jun 30, 2020, as of 7/6/2020

Top 5 Luxury Real Estate Companies 2020 Market Share for Reno/Sparks Homes Sold Over $1 Million*

36.96%

DICKSON REALTY 8.00% 6.78% 5.09% 3.85%

re/max affiliates

chase keller williams group one

Dickson Realty market share for Reno/Sparks homes sold over $2 Million in 2020 =

40.7%

ferrari-lund

Luxury Home Sales By Month Over $1 Million* 2020 vs. 2019

# OF UNITS SOLD

2020 2019

*Source: Northern Nevada Multiple Listing Service (NNRMLS) residential volume for transactions over $1 million in all Reno/Sparks areas (Area 100), January 1 - Jun 30,2020 as of 7/6/2020

Available: 6630 De Chardin Reno, NV 89511 $1,875,000 MLS# 20000833

ACTIVE as of 7/1/2020

Over $1 Million* In Reno/Sparks

SOLD Jan - Jun 2020

# OF ACTIVE & SOLD

Luxury Homes By Price Range

1

MILLIONS OF $

Months of Inventory MONTHS OF INVENTORY

Over $1 Million* In Reno/Sparks

2020 2019

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 - Jun 30, 2020, as of 7/6/2020

PARADISE ISLAND, BAHAMAS | $39,500,000

THE GREAT WELLNESS SURGE: BRINGING THE BEST LIFE HOME 2020

Trend: Total wellness includes mind, body and soul A healthy mind, body and soul are of paramount importance for luxury homeowners. As people live longer, it is a priority to take care of the whole person.

For example, 90% of luxury homeowners are focused on a healthy body through factors such as exercise/sports/ running, avoiding alcohol and smoking, and regular doctor visits. To cultivate a healthy soul, 83% of luxury homeowners focus on relationships and quality time, volunteering, and quiet contemplation through prayer or meditation. Last, but not least, 82% are focused

on healthy mind activities such as reading, taking continuing education courses, participating in creative activities, and even seeking professional help for stress management or emotional issues.

Globally, the trend to eating green is both literal and figurative. Wellness is a whole-body experience that includes better eating and drinking habits and taking the right vitamins and supplements.

WHICH OF THE FOLLOWING HAVE YOU EVER DONE SPECIFICALLY FOR WELLNESS PURPOSES?

63%

EXERCISED MORE OFTEN

54%

CHANGED MY EATING AND DRINKING HABITS

42%

TAKEN VITAMINS/SUPPLEMENTS

37%

SPENT TIME ON A HOBBY

30%

HELPED SOMEONE IN NEED

PURPOSELY TURNED OFF DEVICES TO DISCONNECT

23%

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

Two-thirds (68%) of luxury homeowners follow a non-traditional diet that focuses on limiting processed foods, fewer carbohydrates and farm-raised meats.

These choices are not only healthier, but better for the environment and local economy. Low carb, vegetarian and vegan dietary practices are also more popular with homeowners above $2,000,000 USD. DIETARY PRACTICE

Wellness is also impacting the food-buying experience both in and out of the home. More than half will frequent the local farmer’s market (59%) and put a priority on restaurants that source food responsibly (61%). This trend is teaching consumers to be careful about what they take in and to know the origin of their food.

WHICH, IF ANY, OF THESE DIETARY PRACTICES DO YOU FOLLOW?

 Traditional

32%

 NonTraditional

Limited processed foods Low carb (e.g. Keto) Farm-raised meats

68%

Organic only Vegetarian Pescitarian Vegan

TOTAL $1M+

43% 24% 22% 15% 10% 9% 5%

INSIGHT: As buyers move to urban, walkable areas the desire for accessibility to healthy foods is going to increase. Local farmer’s markets and responsibly sourced products will also be important to wellness-influenced buyers.

BRUSSELS, BELGIUM | PRICE UPON REQUEST

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

Luxury Portfolio International® || 11

CHICAGO, ILLINOIS, USA | $2,600,000

Trend: Wellness is key to managing the stress of success In a global economy that seems to fluctuate between boom and doom, affluent consumers have decided that it is important to focus on work to maintain their status quo. As work time encroaches on personal time, wellness-minded consumers push back.

50% agree:

I prioritize work over my personal life

It is not just about working too much; more than half of luxury homeowners feel that money can add undue stress from having to manage wealth, deal with family matters, and basically worry about money.

Increased 16% since 2018

WHICH OF THE FOLLOWING WOULD YOU SAY ARE TRUE ABOUT HAVING MONEY? PLEASE SELECT ALL THAT APPLY.

EMPOWERING (NET) Money gives me freedom Having money contributes to my self-esteem Money gives me power Money buys happiness STRESSFUL/ABSORBING (NET) You can never have enough money I think about my net worth all the time Money has changed me Money can be isolating Managing my personal assets is stressful Family and friends want access to my money

TOTAL $1M+

$1M to $2M

$2M to $5M

$5M+

79% 65% 32% 28% 17% 53% 23% 14% 12% 12% 12% 8%

82% 70% 31% 27% 16% 50% 24% 14% 9% 11% 12% 7%

76% 56% 33% 27% 14% 55% 19% 15% 16% 15% 11% 7%

77% 64% 35% 39% 28% 62% 29% 16% 15% 11% 17% 18%

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

Consumers are taking back control of their personal time with improved time-management. Boutique wellness consulting firms help busy executives design fitness and nutrition plans that work while traveling, increase exercise efficiency, and use body weight to reduce the

need to hit the gym or have bulky equipment. To treat the mind, they focus on stress management, self-care, and creating balance for much needed personal and family time.

WHICH OF THE FOLLOWING HAVE YOU EVER DONE SPECIFICALLY FOR WELLNESS PURPOSES?

46%

IMPROVED MY SLEEPING HABITS

40%

REMOVED MYSELF FROM STRESSFUL SITUATIONS

37%

MANAGED MY TIME BETTER

35%

FOCUSED ON LIVING IN THE MOMENT

SCHEDULED TIME TO CONNECT WITH OTHERS

WORK LESS

28%

26%

INSIGHT: Consumers are optimizing their life from the inside out. Personal time is spent on mitigating the negatives (stress) and accentuating the positives (socializing, physical activity and mental stimulation).

Several amenities can help with this issue, from a spa-like bathroom in the master suite to a private terrace courtyard, to indoor/outdoor living, which is not only convenient but offers quiet relaxation.

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

Key Takeaways 1 A life well-lived is the ultimate goal

for today’s luxury homeowner.

Consider it the foundational value they have, upon which care for health, family, learning, doing and working are built upon.

2 Wellness amenities in the home are

increasingly desirable.

This fairly recent development has made for a new level of excitement and complexity in the home purchase. Learning about what is available— and what is worth it to have—are questions buyers are likely to ask.

3 Precious free time is being

committed to wellness activities.

Whether it is a leisure trip or the hour before bed, people are taking time for self-care, social bonding and feeling at one with themselves.

As people learn more about what helps them get to a place of relaxation, they will want to find ways to incorporate it into their daily life.

4 Wellness is about transformational

experiences.

The point of a life well-lived is not to have many luxurious items and all the hottest brands (for most people, anyway). It is the extension of life-long learning pointed inward. As people live longer, they want their mind, body and soul to operate at peak levels for the long haul.

5 Success breeds stress.

With increased personal and professional success comes complexities to the management of life.

This is especially true for wealthy homebuyers and sellers which can hit a high point around the sale or a purchase of a new home. Incorporating elements of wellness for the mind, body and soul, into every aspect of real estate—even the transaction itself—will assist with reducing stress for all parties throughout the process.

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

Available 3155 Holcomb Ranch Lane Reno, NV 89511 $3,349,000 MLS#200008655

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

$5,250,000

5635 Foret Circle

190010930 Sullivan, Wonhof & Gore, 775-849-9444

$4,100,000 6220 Rouge Drive

190006656 Sullivan, Wonhof & Gore, 775-849-9444

$3,499,500 6845 De Chardin

200003125 Sullivan, Wonhof & Gore, 775-849-9444

5825 Lausanne

$3,399,000

200007445 Sullivan, Wonhof & Gore, 775-849-9444

PE N DI N G

$3,349,000 3155 Holcomb Ranch Lane

$2,999,000

5650 Foret Circle

200008655 Cathy Hamel, 775-224-1957

200007168 Sullivan, Wonhof & Gore, 775-849-9444

$3,000,000

190008912 Kathie Bartlett, 775-741-5675

$2,695,000 2595 Spinnaker

200002331 Kellen Flanigan, 310-710-4016

3535 Fairview Rd.

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

$2,499,000 750 Brown Street

190012891 David Hughes, 775-771-1783

$2,450,000

$2,400,000

200005508 David Hughes, 775-771-1783

$2,380,000 7390 Bryan Canyon Road

2335 Bristle Wood

1530 Boulder Field Way

190014337 Rebecca Dickson, 775-742-2120

200008437 David Hughes, 775-771-1783

PE N DI N G

$2,350,000 350 Abies

200000313 Joseph Wieczorek, 775-335-5962

$2,221,000

180016675 Sullivan, Wonhof & Gore, 775-849-9444

$1,990,000

180016451 Sullivan, Wonhof & Gore, 775-849-9444

5012 Bordeaux Ct

PE N DI N G

$1,995,000

8345 Twin Rock Trail

200006154 Kathie Bartlett, 775-741-5675

5024 Bordeaux Ct

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

C e ov

PE 190015845 Rebecca Dickson, 775-742-2120

$1,888,000

200005805 Joseph Wieczorek, 775-335-5962

250 Hirsh Rd.

110 Sawbuck

$1,875,000 6630 De Chardin

200008033 Joseph Wieczorek, 775-335-5962

e

G

om

N

H

DI

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$1,985,000

$1,890,000 10241 Zuni Ridge

200007624 Joseph Wieczorek, 775-335-5962

$1,885,000

200006577 R. Dickson & D. Renfroe, 775-742-2120

$1,865,000

200006143 Sullivan, Wonhof & Gore, 775-849-9444

550 Hill Lane

20576 Chanson

PE N DI N G

$1,850,000 1950 Holcomb Ranch Ln

190012908 Diane Macdonald, 775-742-2343

$1,825,000 180016452 5084 Bordeaux Ct Sullivan, Wonhof & Gore, 775-849-9444

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

$1,799,900 14280 Black Eagle Court

200008752 Lori Welsh, 775-771-6574

$1,795,000 3068 Iron Eagle

601 Jakes Hill Court

200008615 Diana Renfroe, 775-843-0777

G

G

N

N

DI

DI

N

N

PE

PE

$1,786,500 180016676 5060 Bordeaux Ct Sullivan, Wonhof & Gore, 775-849-9444

$1,757,000

200006789 Jay Kenny, 775-848-6549

$1,775,000 10275 Copper Cloud Drive

$1,749,000

16860 Salut

200006151 Carol Bond, 775-690-1870

190011580 Morgan Martin, 775-772-5601

PE N DI N G

$1,725,000 200004551 20540 Latour Way Sullivan, Wonhof & Gore, 775-849-9444

$1,670,000 4470 Mountaingate Drive

200005832 Marilyn Minor, 775-742-1280

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

PE N DI N G

$1,665,000

200003320 Sullivan, Wonhof & Gore, 775-849-9444

$1,649,900

200003448 Sullivan, Wonhof & Gore, 775-849-9444

$1,645,000

200001175 Joseph Wieczorek, 775-335-5962

$1,620,000

200004348 Marilyn Farthing, 775-771-4948

5036 Bordeaux Ct

20541 Chanson

PE N DI N G

202 S Big Sage

2145 Green Tree Lane

PE N DI N G

$1,580,000 20600 Chanson

200004494 Sullivan, Wonhof & Gore, 775-849-9444

$1,498,000

200006295 Bonnie Lowder, 775-722-1686

$1,495,000 556 Dusty Lane

190008642 Diana Renfroe, 775-843-0777

$1,459,000

200005474 Carol Bond, 775-690-1870

16980 Rue du Parc

PE N DI N G

7850 Kevin Circle

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

PE

G

G

N

N

DI

DI

N

N

PE

$1,450,000 25 Promontory Pointe

200005800 M.C. Pierson, 775-742-9442

$1,400,000 16925 Delacroix

200003588 Sullivan, Wonhof & Gore, 775-849-9444

$1,399,000 4260 Meadowgate Trail

200008195 J.P. Menante, 775-691-9831

$1,388,000 16020 Geyser Rd

190002521 D. Renfroe & R. Dickson, 775-843-0777

6400 Zermatt Ct

200004122 Sullivan, Wonhof & Gore, 775-849-9444

$1,295,000 4235 Caughlin Pkwy

200005018 D. Luchetti & C. Young, 775-741-1468

G

G

N

N

DI

DI

N

N

PE

PE

$1,355,000

$1,329,000 5710 Cedar Trace Court

$1,275,000 12595 Water Lily

200005737 Carol Bond, 775-690-1870

200005591 Allyson Edgington, 775-815-4157

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

PE N DI N G

$1,267,000 2209 Smokewood Court

200002602 Cathy Lancaster, 775-830-6565

$1,195,000 10141 Indian Ridge

200003322 Joseph Wieczorek, 775-335-5962

PE N DI N G

$1,169,000

5110 Belsera Court

200004457 Diana Renfroe, 775-843-0777

$1,155,000 190003626 4052 Whispering Pine Loop Larissa Osborn, 775-848-6579 PE

G

G

N

N

DI

DI

N

N

PE

$1,105,900 190010494 4005 Whispering Pine Loop Larissa Osborn, 775-848-6579

$1,100,000 6500 Montreux Ln

200007311 Sullivan, Wonhof & Gore, 775-849-9444

PE N DI N G

$1,075,000 10184 Via Verona

200008220 Sullivan, Wonhof & Gore, 775-849-9444

$1,069,899

3172 Vista Favoloso

200004238 Lori Welsh, 775-771-6574

SOLD

208 Rifle Peak Court Incline Village, NV 89451 offered at $3,165,000 Buyer & Seller Representation by: Laurie Pattison 775-997-4980 Mary Jurkonis 775-772-1514

Significant Dickson Realty Sales in 2020

SOLD $2,750,000 Washoe Valley Seller & Buyer Representation by Lori Welsh, 775-771-6574

SOLD $2,250,000

West Southwest

Seller Representation by R. Dickson & D. Renfroe, 775-742-2120 Buyer Representation by Kathie Bartlett, 775-741-5675

SOLD $2,115,414

Montrêux

Seller Representation by Sullivan, Wonhof, Gore, 775-849-9444

SOLD $1,860,000

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

ArrowCreek

SOLD $2,500,000

Montrêux

SOLD $2,150,00

Montrêux

Seller Representation by Sullivan, Wonhof, Gore, 775-849-9444 & Buyer Representation by Greta Mestre, 775-560-7500

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

SOLD $1,998,000 Montrêux Buyer & Seller Representation by Sullivan, Wonhof, Gore, 775-849-9444

SOLD $1,800,000

South Suburban

Seller Representation by Darlene Sharpe, 775-338-4102

Significant Dickson Realty Sales in 2020

SOLD $1,761,989 Montrêux

SOLD $1,750,000 Old South Suburban

SOLD $1,745,000 ArrowCreek

SOLD $1,675,000 ArrowCreek

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

Seller Representation by Scott Shandrew, 775-830-1333

SOLD $1,589,000

Somersett

SOLD $1,525,000

South Suburban

Seller Representation by Lori Welsh, 775-771-6574

Seller Representation by Margie Wonhof, 775-750-5098 & Buyer Representation by Sullivan, Wonhof, Gore, 775-849-9444

Seller Representation by Lori Welsh, 775-771-6574 & Buyer Representation by Justin Hertz, 775-223-7555

Seller Representation by Christopher Galli, 775-771-2885 & Buyer Representation by Justin Hertz, 775-223-7555

SOLD $1,545,000

Seller Representation by Bonnie Beck , 775-846-7964 & Buyer Representation by Robin Choi, 775-745-0295

Montrêux

SOLD $1,500,000 Old South Suburban Buyer & Seller Representation Carol Bond, 775-690-1870

Significant Dickson Realty Sales in 2020

SOLD $1,500,000 MontrĂŞux

SOLD $1,495,000 Somersett

SOLD $1,405,000 St. James Village

SOLD $1,382,296 Pine Bluff

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

Seller Representation by Joseph Wieczorek , 775-335-5962

SOLD $1,380,000

Southwest Suburban

Seller Representation by Sullivan, Wonhof, Gore, 775-849-9444

SOLD $1,346,545

Pine Bluff

Seller Representation by Larissa Osborn, 775-848-6579 & Buyer Representation by Wendy McPhail, 775-338-4463

Seller Representation by David Hughes , 775-771-1783

Seller Representation by Larissa Osborn, 775-848-6579

SOLD $1,350,000

Southwest

Seller Representation by Joseph Wieczorek , 775-335-5962

SOLD $1,335,000 Southwest Seller Representation by William Browning , 775-232-4509

Significant Dickson Realty Sales in 2020

SOLD $1,331,250 Pine Bluff

SOLD $1,327,183 Pine Bluff

SOLD $1,250,000 Belsera

SOLD $1,248,000 West Southwest

Seller Representation by J.Cassinelli & A.Gunter, 775-742-2846 & Buyer Representation by Diana Renfroe, 775-843-0777

Seller Representation by Margaret Kazmierski, 775-770-8818 & Buyer Representation by Cathy Hamel, 775-224-1957

SOLD $1,225,000

Montrêux

SOLD $1,248,000

Southwest Suburban

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

Seller Representation by Joseph Wieczorek , 775-335-5962

Seller Representation by Larissa Osborn, 775-848-6579

Seller Representation by Diana Renfroe , 775-843-0777

SOLD $1,175,000

South Suburban

Buyer & Seller Representation by Diana Renfroe , 775-843-0777

SOLD $1,225,000 Montrêux Buyer & Seller Representation by Sullivan, Wonhof, Gore, 775-849-9444

Significant Dickson Realty Sales in 2020

Pine Bluff

SOLD $1,111,041

Seller Representation by Larissa Osborn, 775-848-6579 & Buyer Representation by Lori Welsh, 775-771-6574

SOLD $1,050,000

Old Southwest

SOLD $1,010,000

Washoe Valley

Seller Representation by M.C. Pierson, 775-742-9442

Seller Representation by Joseph Wieczorek , 775-335-5962

SOLD $1,100,000

West Southwest

Seller Representation by Diana Renfroe , 775-843-0777

SOLD $1,046,338

Pine Bluff

Seller Representation by Larissa Osborn, 775-848-6579

WHETHER YOU ARE MINUTES OR MILES AWAY, MONTRÊUX IS A WORLD APART. Montrêux Golf & Country Club, a private golf course community located between Reno and Lake Tahoe. This gated community of luxury custom homes surrounds the 18-hole, Jack Nicklaus Signature Championship Course (Par 72), a world-class Clubhouse, walking trails, tennis, pool, Fitness Center and much more. Dickson Realty agents have helped more buyers and sellers in Montrêux than any other real estate company.

PHOTO COURTESY MONTRÊUX GOLF & COUNTRY CLUB

CAUGHLIN RANCH

775.746.7000

DAMONTE RANCH 775.850.7000 TRUCKEE 530.587.7444

SOMERSETT 775.746.7222 NORTHSTAR 530.562.1140

MONTRÊUX 775.849.9444

SPARKS 775.685.8800

DOWNTOWN 775.324.7000

PORTOLA 530.832.1700

DicksonLuxury.com | luxury@dicksonrealty.com

© 2020 Dickson Realty. NV Lic #B.0019733. 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.