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
r
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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.
