Luxury Trends: 1st Quarter 2023

LUXURY TRENDS

It’s Spring, Finally!

As we move into the 2nd quarter of 2023, we can see spring on the horizon as the big thaw begins from a record breaking winter, and our gardens come to life. Finally! While we are grateful for the much needed water to fill our Northern Nevada basin, the months of storms have slowed the pace of home sales in the 1st quarter of this year. Inventory levels are beginning to increase but demand is also improving as evidenced by increased pending homes sales at the top end of the market. April promises to bring lovely weather and a slew of new luxury homes coming to market. The clear roads over the pass from California are bringing a steady flow of luxury buyers from Northern California and other regions. Home sales over 1 million dollars more than doubled from 16 sales in February to 40 sales in March. By contrast March of 2022 had 55 sales over one million.

For over 20 years Dickson Realty has been a member of Leading Real Estate Companies of the World and Luxury Portfolio International (LPI). The LPI network of independent luxury agencies across the globe is the leader in luxury home sales and referrals between agencies. We partner with LPI to market and sell luxury homes locally and globally. We’re local, we’re global. Last month 15 Dickson Realty luxury agents attended the Leading Real Estate Companies of the World annual conference. Key takeaways, and a few surprises, from the conference this year include across the board positive sentiment regarding the luxury markets. We heard from our colleagues in New York, Dallas, Florida, San Francisco, Seattle, Aspen, Los Angeles, and Arizona and learned there is not only optimism among brokers, but that optimism is fueled by strong sales and buyer demand in markets across the country.

One consensus amongst our peers was that buyers have become more discerning and less frenzied in their purchases. They are willing to walk away from a property that isn’t up to snuff. Whether it be dated systems such as heating systems, appliances, audio/visual, or outdated paint colors and finishes, this current pool of buyers has an expectation that a home be in tip top shape.

While there has been a shift from a Sellers market to a more balanced Seller/Buyer market with an increase of approximately 40% in inventory, there are pockets of low inventory in some price points. The amount of time on market held steady compared to the first quarter of last year.

If you have questions about the market or are thinking of buying or selling a luxury home, please reach out to a luxury real estate specialist at Dickson Realty. We would be happy and honored to assist you.

— Vice President, Luxury Division

Dickson Realty is a member of Leading Real Estate Companies of the World,® a global community of real estate companies awarded membership based on rigorous standards for service and performance.

Every fifteen minutes a quality client introduction is made within Leading Real Estate Companies of the World.® As a member of Leading Real Estate Companies of the World,® Dickson Realty combines authentic, local expertise with global connections to the highest quality real estate firms worldwide. We’re Local. We’re Global.

1.2 Million annual global transactions

4,700 offices

$586 Billion total annual home sales volume

136,000 sales associates

70+ countries

550 companies

6 spanning continents

Top 5 Luxury Real Estate Companies

Luxury Homes By Price Range Over $1 Million* In Reno/Sparks

Incline Village Market Snapshot

Incline Village Market Snapshot

Dickson Realty Sweeps Top Three Honors at Global Real Estate Conference

Dickson Realty earned the prestigious Diamond Award from Leading Real Estate Companies of the World (Leading RE), a global network of market leading independent real estate firms. The award was presented at the Leading RE Annual Conference, which took place March 28-30 at Wynn Las Vegas.

The Diamond Award is the highest honor bestowed on a member company from Leading Real Estate Companies of the World. The award recognizes superior performance in all Leading RE’s business programs and is given to only one member company in each company size category.

In addition to earning the Diamond Award, Dickson Realty was awarded the Crown of Excellence. This award recognizes the volume of business Dickson Realty refers to other real estate companies outside the area as well as the number of incoming referrals Dickson Realty agents have closed.

Dickson Realty was also awarded the Peak Production Award. This award recognizes the top member company in each company size category with the most revenue generating sales volume in 2022.

Dickson Realty is one of two representatives in Northern Nevada of Leading RE. With a membership that spans six continents, connecting 550 firms and 136,000 sales associates who produce over 1.2 million real estate transactions each year.

“We are thrilled our Relocation Team has been recognized for elevating Dickson Realty from a local company to an international and nationally recognized real estate company.

– Nancy Fennell, CEO of Dickson Realty

“For over thirty years, we have been honored to be invited to be a part of Leading RE. Our affiliation has introduced us to hundreds of real estate firms and sales associates around the world.

– Chris Galli, Vice President of Relocation at Dickson Realty

As a member of Leading RE, Dickson Realty combines authentic local market leadership with top ranked resources and relationships with other premier real estate firms across the country and around the world.

For fifty years, Dickson Realty has been assisting buyers, sellers, investors and tenants of real estate in Northern Nevada to reach their real estate goals.

Dickson Realty Recognized As The Leading Firm in Northern Nevada

2022 was a roller coaster year, continuing the strong pandemic and post-pandemic fueled housing market through the first half of the year. Then, in the third quarter, we saw an abrupt stop to the record-breaking housing market. Despite market headwinds, the top brokerages continued to show growth in the 2023 RealTrends 500 brokerage rankings.

This year’s list shows the impact of a shifting market on the top brokerage firms in the country. While transaction sides and volume were understandably down from their 2021 peak, the firms represented in the RealTrends 500 outperformed the market and their peers in almost all categories,” says Mark Adams, Vice President of Real Estate at HW Media.

All firms in the 2023 RealTrends 500 (RT500) did approximately 40.6% of all brokerage-controlled sales in the country, staying even with the 2022 rankings.

Dickson Realty has been honored to be recognized in Real Trends Top 500 firms in the country since 2003. In 2022, Dickson Realty was recognized as the leading real estate firm in Northern Nevada in both the number of transactions and volume. “ We are thrilled to be 381st largest firm in transaction sides in the country and 206th largest firm in volume”, says Nancy Fennell, CEO of Dickson Realty. That is the result of being affiliated with some of the finest real estate professionals in the area.

95 Bear Mountain Place – Reno, Nevada

Offered at $6,750,000

Connect with the majesty of nature, the people you love, and yourself in this distinctive, unapologetically rustic, and evocative home. Nestled above a cul-de-sac in the Sierra Nevada’s western foothills, 95 Bear Mountain offers unparalleled views and quick access to the Reno Tahoe International Airport, downtown Truckee, and Lake Tahoe. The home’s seamless flow highlights its quality of craftsmanship and thoughtful details, such as hand-finished beams, Albertini and steel windows, and reclaimed materials.

Kathie Bartlett

775-741-5675

6755 Franktown Road – Washoe Valley, Nevada

Offered at $5,650,000

A coveted location in Washoe Valley featuring peaceful, panoramic views across the valley. In perfect condition with freshly refinished hardwood floors throughout. The comfortable one level floor plan features a great room, wet bar/wine cellar, a spacious study, formal dining with prep pantry connected to kitchen and a laundry/mud room just off the garage complete with dog washing station! Comfortable country living,a ten minute drive to Carson City and twenty minutes to South Reno.

Rebecca Dickson

775-742-2120

6440 Dubrou Court – Reno, Nevada

Offered at $5,500,000

Montreux Masterpiece! A graceful union of architectural excellence and the most prestigious location in all of Montreux. Perched above the 18th with vistas of the Sierras, pristine forestland, the famed emerald fairway. A truly one-of-a-kind custom “Cottage”, spanning a double homesite. As part of the exclusive “Cottage” Community, enjoy maintenance-free living with landscaping duties taken care of by the HOA.

Sullivan-Neal-Gore

775-813-4890

A secluded retreat on five acres in the historic and scenic Franktown area of Washoe Valley with the backdrop of the Sierras and Toiyabe National Forest. Sophisticated, contemporary, architecture and design. True craftsmanship of construction with the highest quality of materials and meticulous attention to detail.

7400 Tunnel Creek – Washoe Valley, Nevada

Offered at $5,400,000

1860 N Winnie Lane – Carson City, Nevada

Offered at $5,300,000

Stunning private estate waiting to welcome its new owners! Upon entering through the private gate, you are greeted with the expansive and beautifully landscaped grounds, an elegant porte-coche're, a grand entrance with double stainless steel doors and custom glass side lights. Once inside, you are greeted with a magnificent great room featuring, marble floors and stunning floor to ceiling windows overlooking 3 grand waterfalls and stunning mountain views.

Christina Rice

775-220-6281

13425 Welcome Way – Reno, Nevada

Offered at $4,495,000

This modern architectural masterpiece is a study in contrast with its sharp corners and curved lines. Designed by Wimberley Alison Tong & Goo lead Designer Charlie Sims, this Award Winning estate has been featured on HGTV and ABC TV as well as showcased by Dupont Luxury Homes and Reno Magazine. Nestled on a bluff near Arrowcreek, this 8011 square foot custom estate sits on 2.42 acres and has unbelievable Panoramic views of the entire City of Reno from the Sierras to the Virginia City foothills.

Jay Kenny

775-848-6549

6465 De Chardin Lane – Reno, Nevada

Offered at $4,490,000

Stunning single level 5,545 SF Montreux masterpiece beautifully positioned on the 1st fairway of Montreux's Jack Nicklaus Signature golf course with expansive views of Mt. Rose. Newly remodeled with the highest level of finishes & quality. An entertainer's dream with top of the line chef's kitchen, elegant front courtyard with fireplace & water feature, fully outfitted backyard with outdoor kitchen incl. BBQ, smoker & burner, refrigerator, firepit and 12' in ground jacuzzi.

Sullivan-Neal-Gore

775-813-4890

5223 Nestle Court – Reno, Nevada

Offered at $4,200,000

Rare creekside single-level in Montreux! Exceptional quality, made for entertaining. With recent improvements, the custom home feels brand new: new HVAC system, new Lutron & Savant home automation, new paint and carpet & much more. Primary suite with double sided fireplace, new steam shower and a private office retreat, all overlooking the creek. Current home furnishings, electronics, golf cart & Montreux equity Golf membership included. 1500 SF car garage+ golf cart w/ epoxy floors & "gift wrap station".

Sullivan-Neal-Gore

775-813-4890

Offered at $3,495,000

Situated on a lush green 2.002-acre lot is this grand and elegant home. With an expansive 6,936sqft of living space, quality finishes and fixtures throughout as well as room to entertain, this property is sure to capture the attention of those looking for a luxurious and private home. From every room, you can enjoy stunning views of the surrounding area thanks to the abundance of windows that let in the perfect amount of natural light.

Joseph Wieczorek

775-335-5962

11192 Dixon Lane – Reno, Nevada

5675 Alpinista Circle – Reno, Nevada

Offered at $3,400,000

Newly built, on Montreux's 11th green, this single level custom “Chalet” offers the perfect balance of indoor/ outdoor living with mountain modern style. Quality abounds w/ ICF construction! Unobstructed golf, Mt. Rose & valley views. Chef's kitchen with top-of-the-line appliances (SubZ & Bosch). Open floorplan with 3 BR suites + office. Primary suite with large linear fireplace, heated bath floors, 2 walk-in closets, steam shower & adjacent fitness center/flex space. The backyard is an entertainer's dream!

Sullivan-Neal-Gore

775-813-4890

5108 Bordeaux – Reno, Nevada

Offered at $3,200,000

Build a brand new Parc Foret home in Reno's premier gated golf community - MONTREUX. Plenty of time to choose all your own quality interior finishes; completions will be in 2023. This home is a Plan 7; 4 bedroom suites plus a game room. A modern/open great room design with high ceilings, big windows, light & bright. A private courtyard greets you at the front. Full landscaping for your custom design included in the purchase. Built by award-winning custom builder LakeCrest.

Sullivan-Neal-Gore

775-813-4890

6149 Triple Crown Drive – Reno, Nevada

Offered at $3,150,000

A brand new "100" year old home in the heart of Rancharrah! Corten, wood and stone exterior finishes give a rustic Nevada feel to this custom home. The views of Mt. Rose and the Sierras are unobstructed with no neighbors behind you. This high quality home features radiant heat under warm Hickory wood floors. An excellent floor plan with all the living on main level and two guest rooms on the upper level. For easy living a Control 4 system includes audio, alarm, heat and automated window blinds.

Rebecca Dickson

775-742-2120

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

Current Dickson Luxury Listings

SPIN WITH THE FIN

By LINSEY STONCHUS

Few things epitomize American culture more than classic cars. Autos made during the 1950s were so enmeshed with society at the time that their influence on one another was indistinguishable.

During the decade, cars moved beyond sheer practicality and evolved into a pastime, evident in the rise of drive-in theaters, rock and roll, and expanding highway that forever changed city layouts and the ways in which regions of the country connected.

“The Fifties is arguably one of the most significant decades in all of automotive history,” says Jake Welk, marketing manager at LeMay — America’s Car Museum in Tacoma, Washington.

This shift in purpose was apparent in auto design.

“Cars of the ‘50s became sexier, with distinctive colors like greens, blues, yellows and pinks, along with flashy trim with heavy use of chrome on long, wide bodies,” Mr. Welk says. “Big headlights, chrome grilles, large tailfins and an overall flowing design were common.

“This shaped the way we view cars forever, looking at them more as a status symbol and with a sense of fashion and creative and expressive design in a way that had never been seen before,” he says.

Car design took off in the 1950s, taking inspiration from — and inspiring — popular culture in a way that continues to wow

1957 Chevrolet Bel Air

1955 Ford Fairlaine

Image courtesy of LeMay — America’s Car Museum

shutterstock.com

TAKING FLIGHT

Much of the cultural shift in the ‘50s is attributed to changing sentiments post-World War II. Not only was the car a simpler way to transport expanding families, but pop culture and entertainment were booming. Enjoying oneself was a top priority.

“Everybody was looking forward to something new,” says Chris Horning, car designer at the Gilmore Car Museum in Hickory Corners, Michigan. “It was a relief, you know. The world had been in a bad place for a long time and, all of a sudden, it wasn't any more.”

Technological advancements, including those of the previous decade’s war, greatly affected car design.

“It’s a distinctive era in design,” Mr. Horning says. “In the ‘50s, right after the war, rockets were a big deal, so you see cars with great big, huge taillights that looked like rocket exhaust.”

In the mid-1950s, the Space Race took hold and commercial air travel was on the rise, further influencing design with features that mimicked the wings of an airplane and other fuselage-inspired attributes. These designs were slimmer and sleeker than the boxy models of the early decade.

“Anything from 1955 on seems to be more popular than the early‘50s cars, just because the design style was inspired by fuselage and was more streamlined, rather than the chunky look,” Mr. Horning says.

The 1957 Chevrolet Bel Air, for instance, one of the most iconic cars of the time, featured sleek tailfins on the back of the car. The 1959 Cadillac Coupe DeVille, meanwhile, sported a wraparound windshield resembling that of an airplane.

“The ‘50s era certainly was space- and jet-age,” Mr. Horning says. “We see these in the big tailfins and science fiction-looking interiors.”

The boom in travel, both on the road and in the skies, in turn, influenced the infrastructure of the United States.

“Automobile design had an effect on the architecture of the United States and the way the towns were laid out,” Mr. Horning says.

Mr. Welk adds that “the highway system and infrastructure began to expand, creating longer roads that interconnected cities and states and allowed for higher-speed travel.”

Just as the rise of the automobile affected city layouts, better infrastructure led to even more drivers on the road, and the loop continued. The expansion of driving also meant safety was an increasing imperative.

“They began to adapt by adding new, innovative features and designs that created a whole new experience for the driver, including the introduction of power steering and automatic transmissions,” Mr. Welk says. “Many of these design and safety features are still seen in cars being built today.”

Chrome and bright colors characterize the classic ‘50s look, and this 1956 custom Mercury sedan Image courtesy of LeMay — America’s Car Museum

Big back fins, like on this 1959 Chevrolet Impala Sport Coupe, were all the rage Image courtesy of LeMay — America’s Car Museum

1957 Ford Thunderbird Image courtesy of LeMay — America’s Car Museum

TOUGH BIRDS

Aside from the design and culture surrounding classic cars, their durability ensured their longevity.

“Cars in the ‘50s were built very well and sturdy, and many of the vehicles that were built in the ‘50s that have been properly taken care of and restored over the years are still very durable and drivable, just as they were back when they were created,” Mr. Welk says.

Most collectibles are the makes and models most popular during the decade.

“The Big Three, as they became known, were General Motors, Chrysler and Ford,” Mr. Horning says. “Whatever they put out seemed to stamp out the other companies

that were lacking in their engineering or development. They couldn't offer all the options, and they fell behind.”

No feud, however, was as grand as General Motors’ Chevrolet race against Ford, which lingers today.

“The age-long argument ‘Ford-versusChevy’ really took flight in the ‘50s,” Mr. Welk says. “Both of these automobile manufacturers were fighting toe-to-toe in competition to outdo each other and produce the best, most-wanted vehicles on the road.”

Chevy gained even more popularity with singer Dinah Shore’s 1952 commercial turn urging Americans to “See the U.S.A. in your Chevrolet.”

The Ford Thunderbird was created to compete with the Chevrolet Corvette and, in its debut in 1955, greatly outsold the latter. Primarily, the battle was in the engine's performance, with the rivals hoping to outpace one another in horsepower and speed.

Both models, however, remained icons of the 1950s, with versions released as late as 2005 for the Thunderbird and 2019 for the Corvette.

Other General Motors standouts included Buicks and Cadillacs, known for their luxury and family-oriented vehicles, such as the high-end Cadillac Series 62 or spacious Buick Special models.

PACKING IT IN

Less loved during their time were Studebakers and Packards, which have more recently found popularity as collector cars.

The 1951 Studebaker Commander was most famous for its “bulletnose” rounded front-exterior design, with the company advertising at the time, ‘The Next Look in cars is a ‘Jet-Propelled Look!’

Unfortunately for Studebaker, the bullet-nose was short-lived and only a feature in its 1950–1952 models, as the company was sued by rival Tucker for patent infringement because it mimicked the design of some of Tucker’s models.

That said, this lawsuit was not Studebaker’s downfall. Financial issues haunted the company for decades before releasing its last model in 1966. Many experts now assert that, in retrospect,

Studebaker was ahead of its time. It saw smaller cars as the future, which came to fruition in later decades, but released them too soon, at a time when bulkier cars were in vogue.

Packard released its last model in 1956. Although Packards were exceptional cars, they were quite expensive and could not remain competitive in the market.

Despite being beloved at car shows, old Packards and Studebakers are much more challenging to restore.

“They're far more difficult to restore because there aren't as many of them and people don't tend to make the parts for them anymore,” Mr. Horning says. “There's a huge market for ‘55 Chevy parts because there were so many made. Not so much a ‘55 Packard.”

JOINING THE RACE

European cars made their own mark on the industry. Leisurely vehicles were not the initial priority, but as the decade went on, the continent increasingly manufactured luxury and sports cars.

Post-World War II, “Europe was rebuilding, while the U.S. was building upon,” Mr. Horning says. “They were looking for cars that were much smaller and easier to drive around, and inexpensive trucks for hauling and fixing things and construction, so they developed truck companies that eventually turned into, or merged with, automobile companies.”

Horton, Opel and Audi are just some examples.

“It wasn't until much later in the ‘50s, after they got done rebuilding, that amazing cars came out, like the Mercedes 300SL and Ferraris,” Mr. Horning says. “The racecars that came from Europe were just incredible cars.”

Meanwhile, Rolls-Royce Motor Cars and Bentley Motors were the epitome of luxury.

“That’s how the whole United States sports car clubs started, because these soldiers brought all these really cool cars back over,” Mr. Horning says.

UP THE VOLUME

Without question, the effects of the 1950s automotive industry are still felt today. The decade’s influence can be found all over American culture and in hints of modern vehicles.

“The ‘50s really shaped the way our society and culture is in America and laid the foundation for the way Americans have lived over the past 70 years since,” Mr. Welk says.

“Modern-day cars were, no doubt, shaped by the design features and innovations that were introduced in cars of the ‘50s,” he says. “However, cars, over time, have become more practical, focusing on safety and making the experience for the driver easier.”

Automobiles are also produced at far greater a scale, and with hybrid and electric-motor options in addition to gaspowered combustion engines.

“Cars now are mass-produced like never before, and automotive manufacturers are now more focused on providing a high volume of vehicles for consumers rather than focusing on making them exotic and unique,” Mr. Welk says.

YET THE INGENUITY of artistry and machinery persists in the decades-old vehicles still driving today, their quality undeniable. Alongside the physical cars are the memories.

“[Collectors] keep that interest in this area because they have these wonderful stories that they can relate to, that were told to them by their aunts and uncles and grandparents growing up and shared for years,” Mr. Horning says. “It’s fun to go to a car show and share the stories.”

Mr. Welk agrees.

“The automobile has always been one of America’s favorite pastimes,” he says. “It creates passion in all of us and connects us together in a way many other things cannot.”

1951 Studebaker Commander Image courtesy of Gilmore Car Museum Manufacturers such as Cadillac went the luxury route, as seen in this 1950s advertisement

1959 Cadillac Coupe DeVille Image courtesy of LeMay — America’s Car Museum

6 7 8

7 8 alamy.com

Q1 Significant Sales

SOLD $1,150,000

Seller Representation

Jackie Harger, 775-745-9079

Q1 Significant Sales

SOLD $1,087,103

Seller & Buyer Representation

Heidi McFadden, 775-232-4188

SOLD $1,046,831

Seller Representation

Heather Houston, 828-489-8124

SOLD $1,003,367

Seller & Buyer Representation

Heidi McFadden, 775-232-4188

SOLD $1,090,000

Seller Representation

Lori Welsh, 775-771-6574

SOLD $1,065,000

Seller Representation

Tori King, 775-250-1306

SOLD $1,020,000

Seller Representation

Marilyn Minor, 775-284-3031

Buyer Representation

Mark Growdon, 775-287-5745

Damonte Ranch

Somersett

Red Leaf

Saddlehorn

The Villas Rancharrah

Old Southwest Reno

Red Leaf

Stop Shoveling Snow. Start Enjoying Life.

Stop Shoveling Snow. Start Enjoying Life.

Leave the Hassles of Home Maintenance Behind

When you live at The Villas, the beautiful grounds are maintained for you. You’re surrounded by scenic beauty, but you’ll also have time to enjoy it all. These two- and three-bedroom lock-and-leave residences are within the gated community of Rancharrah, and now open for tours. Call Heather at 775-420-4292 or visit TheVillasRancharrah.com

Leave the Hassles of Home Maintenance Behind

When you live at The Villas, the beautiful grounds are maintained for you. You’re surrounded by scenic beauty, but you’ll also have time to enjoy it all. These two- and three-bedroom lock-and-leave residences are within the gated community of Rancharrah, and now open for tours. Call Heather at 775-420-4292 or visit TheVillasRancharrah.com

Offered by: Dickson Realty, Heather Houston, Realtor, NV Lic# S.176629

Offered by: Dickson Realty, Heather Houston, Realtor, NV Lic# S.176629