Reno
Market Report Annual 2019 Cover Property: 2139 Green Tree Lane by Daphine MacLean
PRESENTED BY
LUXURIOUS EXQUISITE ALLURING DIVINE BREATHTAKING ASTONISHING BRILLIANT DAZZLING CAPTIVATING DREAM MODERN ENTICING SOPHISTICATED EXCEPTIONAL MAGNIFICENT HARMONIOUS MARVELOUS OLIVER OUTSTANDING FINE UNMATCHED LUXURY REAL ESTATE STATELY STRIKING ENCHANTING KEY ENTHRALLING STYLISH STUNNING TIMELESS ICONIC CHRISTIE’S UNPARALLELED SERENE INTERNATIONAL WARM UPSCALE WELCOMING ELEGANCE SENSATIONAL FABULOUS SPECTACULAR GLOBAL CONNECTIONS | LOCAL RESULTS RENO OFFICE 65 FOOTHILL ROAD, #2 775.236.1500 OLIVERLUX.COM
FEATURED: 2139 GREEN TREE LANE by Daphine MacLean | 775.772.6758 Enter through the Grand Custom Iron Gates of the Ultimate Luxury Home and Equestrian Facility in Reno. The convenient location keeps you in town while feeling like you are in the country. This totally private Estate is built with extreme quality and careful attention to every detail. The Glass Ceiling Dining Room is bathed in sunlight and perfect for exquisite dinner parties.
2019 SIGNIFICANT SALES LISTING Sunnyside Lane 5020 West Lake 863 Lakeshore 135 Quiet Walk 850 West Lake 7155 Highway 3115 Jameson Beach 20282 Bordeaux 4510 North Lake 6720 Powderhorn 19440 Annie Lane 605 Tyner 260 George Giffen 105 Tobey 4849 Nestle 275 Glen 283 Robin 658 Riven Rock 5920 Lausanne
SALE PRICE $37,000,000 $16,400,000 $13,750,000 $10,500,000 $7,000,000 $6,330,000 $5,600,000 $4,500,000 $4,300,000 $4,300,000 $4,100,000 $3,200,000 $2,950,000 $2,730,000 $2,525,000 $2,450,000 $2,225000 $2,040,000 $1,899,000
EXCEPTIONAL PROPERTIES. EXTRAORDINARY LIVING. Oliver Luxury Real Estate is a boutique real estate firm specializing in luxury properties. We connect extraordinary people with some of the finest homes in the world by using our extensive knowledge, global affiliate network, and sincere approach to give them the insider treatment they deserve. OLIVERLUX.COM
Reno Neighborhoods
8 2
9
1 West Southwest Caughlin Ranch, Juniper Hills, Juniper Ridge, W. Mayberry
1 3
2 Old Southwest Old Southwest, California, Newlands, Midtown
3 Southwest Lakeridge, Skyline, Bartley Ranch, Chardonnay, Evans Creek, East Ridge
4 Old South Suburban
4
Lakeside, Holcomb, Windy Hill
5
5 South Meadows Double Diamond, Damonte Ranch, Curti Ranch
6 South Suburban
6
ArrowCreek, Fieldcreek, Wolf Run, Saddlehorn
7 Southwest Suburban Montreux, Galena Forest, St. James Village
8 Northwest / Sommersett 7
9 Verdi
ANNUAL REVIEW
EXCLUSIVE MARKET INSIGHTS FROM OUR TEAM Reno’s housing market remains strong. For the year, the median price for all homes sold in 2019 was up 3.7% to $408,000 compared to 2018. Price per square foot is also increasing, both monthover-month and year-over-year. December’s and 2019 sold price per square foot are up 2.9% to $231 and 4.1% to $229/sq. ft., respectively from the prior year. Looking at the broader trend, total number of homes sold in 2019 were up 4.7% to 4,368, from 2018. The time from when a property is listed for sale to when the seller accepted an offer has increased. The average time to contract in 2018 was 42 days, while in 2019 it was 54 days, representing a nearly 30% increase. Bottom line: more homes are being sold for more money (in total price and on a price per square foot basis), even though they are taking longer to sell than in 2018. According the Economic Development Authority of Western Nevada (EDAWN, www.edawn.org), job growth continues to dramatically outpace expectations, even after those expectations were revised upward at the beginning of 2019. Regional employment from December 2018 through October 2019 increased by 20,460 jobs, more than double the projected increase of 10,170 for that period. In the same period, the Federal Reserve reported housing units authorized (permits issued) in the Reno MSA of 4,669, which includes single family and multifamily housing units. Despite the fact that the study boundaries do not match up perfectly and that employees are different than households, it is clear that Northern Nevada will continue to have very strong housing demand. If I were asked to predict what Reno’s housing market might look like if there were a national recession, I would say that Reno’s market would cool down, or be flat. I would not predict a significant correction, if there is a correction at all. Am I wiling to place a bet on that? You’ll have to call me. -Dimitri Hallerbach Broker Oliver Luxury Real Estate
WEST SOUTHWEST: SINGLE FAMILY CAUGHLIN RANCH, JUNIPER HILLS, JUNIPER RIDGE, W. MAYBERRY
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$800,662
$678,000
$350,000
$2,300,000
+3.53%
+8.05%
$1,000
$800
$750
$600
$500 $250 $0
$773,358
$800,662
Total 2018
Total 2019
$400 $200 $0
$300
$627,500
$678,000
Total 2018
Total 2019
$340,000
$350,000
Total 2018
Total 2019
$100 $0
$2,000
$2,900,000
$1,000 $0
Total 2018
$2,300,000 Total 2019
AVERAGE DAYS ON MARKET
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$112,893,408
122
141
99.24%
+16.38%
+1.67% 100
$97,001,406
$112,893,408
75 50
$25
25
$0
0
Total 2018
Total 2019
120
122
100 50
Total 2018
+0.24%
+13.71% 150
125
$100
$50
$200
-20.69% $3,000
TOTAL DOLLAR VOLUME SOLD
$125
$75
+2.94% $400
Total 2019
0
100.00%
124
141
75.00% 50.00%
99.00%
99.24%
Total 2018
Total 2019
25.00%
Total 2018
Total 2019
0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
OLD SOUTHWEST: SINGLE FAMILY OLD SOUTHWEST, CALIFORNIA, NEWLANDS, MIDTOWN
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$521,200
$460,000
$259,000
$1,775,000
+11.66% $600
$0
$521,200
$466,770
$300 $200
Total 2018
Total 2019
$0
+36.54%
Total 2019
$0
$2,000 $1,500
$265,000
$259,000
$1,000 $500
Total 2018
Total 2019
$0
$1,300,000 Total 2018
$1,775,000 Total 2019
TOTAL DOLLAR VOLUME SOLD
AVERAGE DAYS ON MARKET
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$93,816,166
82
180
98.25%
$75
$0
$200 $100
Total 2018
+20.35%
$25
$460,000
$430,000
$100
$100
$50
-2.26% $300
$400
$400 $200
+6.98% $500
$77,950,720 Total 2018
$93,816,166
+15.49% 200
100.00%
75
150
75.00%
50 25
Total 2019
+0.26%
+7.78%
100
0
71 Total 2018
82
100
167
180
50
Total 2019
0
50.00%
98.00%
98.25%
Total 2018
Total 2019
25.00%
Total 2018
Total 2019
0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
SOUTHWEST: SINGLE FAMILY
LAKERIDGE, SKYLINE, BARTLEY RANCH, CHARDONNAY, EVANS CREEK, EAST RIDGE
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$578,740
$535,000
$160,000
$1,300,000
-2.84% $600 $400
-2.71%
$595,635
$578,740
$400
$200
$200
$0
$0
Total 2018
Total 2019
$549,900
$535,000
$2,500
$300
$2,000
$200 $100
Total 2018
Total 2019
-47.26%
$400
$0
$1,500
$305,000
$2,465,000
$1,000
$1,300,000
$500
Total 2018
Total 2019
$0
Total 2018
Total 2019
TOTAL DOLLAR VOLUME SOLD
AVERAGE DAYS ON MARKET
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$177,673,327
88
307
97.4%
+4.66%
-8.33%
$200
100
$150
75
$100
-47.54%
$600
$169,755,976
$177,673,327
50
96
88
100.00%
300
75.00%
200
$50
25
100
$0
0
0
Total 2018
Total 2019
Total 2018
+0.55%
+7.72% 400
Total 2019
285
307
Total 2018
Total 2019
50.00%
96.87%
97.40%
Total 2018
Total 2019
25.00% 0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
OLD SOUTH SUBURBAN: SINGLE FAMILY LAKESIDE, HOLCOMB, WINDY HILL
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$832,891
$612,500
$290,000
$3,000,000
-5.6%
-3.47%
$1,000
$800
$750
$600
$500
$882,310
$832,891
$250 $0
$400 $200
Total 2018
Total 2019
$0
$634,500
$612,500
Total 2018
Total 2019
$100 $0
$235,000
$3,000 $2,000
$3,949,000
$1,000
Total 2018
Total 2019
$0
Total 2018
$3,000,000 Total 2019
AVERAGE DAYS ON MARKET
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$64,965,550
94
78
94.61%
-35.62% 150
$77,643,290
$20 $0
$290,000
$200
-16.33% $40
-24.03% $4,000
TOTAL DOLLAR VOLUME SOLD
$80 $60
+23.4% $300
Total 2018
100
$64,965,550 Total 2019
146
0
Total 2018
100.00%
75
75.00%
50
94
50
Total 2019
-0.89%
-11.36% 100
88
25 0
Total 2018
78 Total 2019
50.00%
95.46%
94.61%
Total 2018
Total 2019
25.00% 0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
SOUTH MEADOWS: SINGLE FAMILY DOUBLE DIAMOND, DAMONTE RANCH, CURTI RANCH
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$489,029
$460,000
$280,000
$1,557,995
+4.96% $500 $400 $300 $200
$489,029
$465,924
$300
$440,000
Total 2019
$0
$285,000
$280,000
Total 2019
$0
$1,500 $1,000 $500
Total 2018
Total 2019
$0
$1,050,000 Total 2018
$1,557,995 Total 2019
AVERAGE DAYS ON MARKET
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$321,781,590
100
658
98.46%
+36.99% 100
$300
75
$0
$200 $100
Total 2018
+17.86%
$100
+48.38% $2,000
TOTAL DOLLAR VOLUME SOLD
$400
$200
$460,000
$100
Total 2018
-1.75% $300
$400
$200
$100 $0
+4.55% $500
$273,031,596 Total 2018
$321,781,590 Total 2019
50 25 0
73 Total 2018
100
100.00%
600
75.00%
400
696
658
200
Total 2019
-0.55%
-5.46% 800
0
50.00%
99.00%
98.46%
Total 2018
Total 2019
25.00%
Total 2018
Total 2019
0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
SOUTH SUBURBAN: SINGLE FAMILY ARROWCREEK, FIELDCREEK, WOLF RUN, SADDLEHORN
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$912,011
$820,000
$385,995
$2,675,000
+5.22% $1,000 $750 $500
$866,790
$912,011
$250 $0
+2.5% $500
$750
$400
$500 $250
Total 2018
-11.06%
$1,000
$0
Total 2019
$820,000
$800,000
$300 $200
Total 2019
$0
$2,000
$385,995
Total 2018
Total 2019
$2,900,000
$2,675,000
Total 2018
Total 2019
$1,000 $0
TOTAL DOLLAR VOLUME SOLD
AVERAGE DAYS ON MARKET
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$207,026,622
105
227
98%
-0.9%
+11.7% 125
250
$200
100
200
$150
75
150
$208,896,554
$207,026,622
50
$50
25
$0
0
Total 2018
Total 2019
94 Total 2018
+0.54%
-5.81%
$250
$100
$434,000
$100
Total 2018
-7.76% $3,000
105
100.00%
241
100
227
Total 2019
50.00%
97.47%
98.00%
Total 2018
Total 2019
25.00%
50 0
75.00%
Total 2018
Total 2019
0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
SOUTHWEST SUBURBAN: SINGLE FAMILY MONTREUX, GALENA FOREST, ST. JAMES VILLAGE
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$1,260,427
$1,180,000
$370,000
$4,500,000
+6.5% $1,500
$0
$1,183,530
$1,260,427
$750 $500
$0
Total 2019
$965,000
$0
$3,000
$4,900,000
$2,000
$4,500,000
$1,000
Total 2018
Total 2019
$0
Total 2018
Total 2019
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$133,605,335
171
106
97.8%
+19.58% 200
$150
150
$0
Total 2019
$275,000
$370,000
AVERAGE DAYS ON MARKET
-12.49%
$50
$100
Total 2018
$4,000
$300 $200
-8.16% $5,000
TOTAL DOLLAR VOLUME SOLD
$200
$100
$1,180,000
$250
Total 2018
+34.55% $400
$1,000
$1,000 $500
+22.28% $1,250
$152,675,370 Total 2018
$133,605,335 Total 2019
100 50 0
143 Total 2018
171 Total 2019
+0.82%
-17.83% 150 100 50 0
100.00% 75.00%
129 Total 2018
106 Total 2019
50.00%
97.00%
97.80%
Total 2018
Total 2019
25.00% 0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
NORTHWEST/SOMERSETT: SINGLE FAMILY
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$553,935
$489,000
$305,000
$1,970,000
+4.39% $600 $400 $200 $0
+1.45% $400
$553,935
$530,628 Total 2018
Total 2019
$300
$400 $200
$0
$0
Total 2018
Total 2019
+6.49% $2,000
$305,000
$305,000
$1,500 $1,000
$1,850,000
$1,970,000
Total 2018
Total 2019
$500
Total 2018
Total 2019
$0
TOTAL DOLLAR VOLUME SOLD
AVERAGE DAYS ON MARKET
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$159,533,483
96
288
98.08%
+9.09% 100
$150
75
$0
$600
$100
+6.24%
$50
$489,000
$482,000
$200
$200
$100
=0.00% $800
$500
$150,167,981 Total 2018
$159,533,483 Total 2019
50
88
96
Total 2018
200
100.00%
283
288
100
25 0
+1.11%
+1.77% 300
Total 2019
0
75.00% 50.00%
97.00%
98.08%
Total 2018
Total 2019
25.00%
Total 2018
Total 2019
0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
VERDI: SINGLE FAMILY
AVERAGE SALES PRICE
MEDIAN SALES PRICE
LOWEST SALES PRICE
HIGHEST SALES PRICE
$595,168
$508,995
$270,000
$2,300,000
-27.76%
-28.7%
$1,000
$800
$750
$600
$500 $250 $0
$801,696
$400
$595,168
Total 2018
Total 2019
$713,881 Total 2018
Total 2019
$4,000
$300,000
$270,000
$100 $0
$3,000 $2,000
$4,200,000
$1,000
Total 2018
Total 2019
$0
Total 2018
Total 2019
AVERAGE DAYS ON MARKET
TOTAL PROPERTIES SOLD
% SOLD PRICE TO LIST PRICE
$56,540,970
119
95
99.11%
+182.11%
-14.39% 150
$20,042,412
100
$20 $0
$508,995
-45.24% $5,000
TOTAL DOLLAR VOLUME SOLD
$60 $40
$200
$200 $0
-10% $300
139
50
Total 2018
Total 2019
0
Total 2018
75
119 Total 2019
-1.87%
+280% 100
50
125.00% 100.00%
25
75.00% 50.00%
25 0
101.00%
99.11%
Total 2018
Total 2019
25.00%
Total 2018
Total 2019
0.00%
775.236.1500 | 65 FOOTHILL ROAD, #2 | OLIVERLUX.COM
65 FOOTHILL ROAD #2, RENO, NV
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