dickson realty luxury trends 2nd quarter 2014

© Copyright 2014 Dickson Realty

2nd Quarter 2014

LUXURY TRENDSThe Market Report from the Market Leader

DicksonLuxury.com

© 2014 Dickson Realty. All rights reserved.

2nd Quarter 2014 Executive Summary July 2014

Welcome to our most recent luxury market report highlighting the 2nd Quarter of 2014 sales activity for properties priced $1,000,000 or higher in the Reno/Sparks region, and $2,000,000 or higher in the Truckee/North Lake Tahoe region.

While the first quarter of 2014 provided us with mixed market indicators, the second quarter of 2014 was more encouraging. In the Reno/Sparks region there is good news to share. Not only were the number of sales over $1,000,000 dollars up 38% over 2nd Quarter 2013, the average price per square foot jumped 29% from $241 per square foot to $310 per square foot. It gets better – average days on the market in this category dropped 39% to 214 days. The highest sale in the region was in the community of Montreux, closing at $3.2 million dollars.

While the news is going in a positive direction we are not yet out of the woods with a supply of 154 homes on the market over one million dollars. Of the 31 luxury homes that sold in the first six months of 2014, 25 homes sold between $1,000,000 -$1,199,000 and reduced from original list price to sales price an average of 9%. Of the 6 homes that sold over $2,000,000, the average list price to sales price ratio was 15% and market times were longer. An important aspect to selling a home in today’s market is working with a luxury specialist in the pricing of your home to achieve the highest and best sale.

During the 2nd Quarter of 2014 in our Truckee/North Lake Tahoe market, the number of homes sold over $2 million increased 90%, and the total dollar volume of over $70.6 million represented a 95% increase over the same period in 2013. The largest number of sales occurred in the $1 million to $2 million range, with 24 homes sold, and the $5 million and above range, with 15 homes sold. The highest sale for Truckee during the quarter was in Martis Camp, where a 6,100+ sf, 6 bedroom home sold for $7,050,000.

Dickson Realty, in partnership with Leading Real Estate Companies of the World and Luxury Portfolio, provides unprecedented exposure to regional and global high net worth real estate buyers. An average of 40,000 unique visitors per month visit DicksonRealty.com to get current real estate news and information. Our mission is to bring you relevant market information to help you make an informed buying or selling decision. Please visit us at www.dicksonrealty/luxury and enjoy viewing our many beautiful million dollar homes for sale, or contact one of our luxury experts if you have any questions about the current state of the market.

Sincerely,

Nancy FennellCEO Dickson Realty

Welcome


Luxury Market Report 2nd Quarter 2014

Reno/Sparks Luxury Home Sales: $1 Million and Higher

2nd Qtr 2014 2nd Qtr 2013 % Change

Solds 18 13 38%

Total Dollar Volume $27,843,915 $18,210,000 53%

Average Sales Price $1,546,884 $1,400,769 10%

Median Sales Price $1,312,759 $1,200,000 9%

Average Days on Market 214 350 -39%

Average Price Per Sq. Ft. $310 $241 29%



Solds 3 1 200%


Average Sales Price $2,575,000 $3,000,000 -14%

Median Sales Price $2,325,000 $3,000,000 -23%

Average Days on Market 335 308 9%


Truckee/North Lake Tahoe Luxury Home Sales: $2 Million and Higher


Solds 19 10 90%


Average Sales Price $3,719,564 $3,624,087 3%

Median Sales Price $3,340,000 $3,475,000 -4%

Average Days on Market 201 206 -2%


n Total Truckee/North Lake Tahoe homes sales almost doubled from last year, although the Average Sales Price only increased by 3%.

n In Reno/Sparks, the number of sales over $1 Million increased by 38%. The Average Price per Square Foot also increased, by 29%, and the Days on Market fell from 350 to 214 days, a 39% reduction.



Reno/Sparks Luxury Home Sales

Price Range 2nd Qtr 2014 2nd Qtr 2013 % Change

$1,000,000 - $1,999,999 15 12 25%

$2,000,000 - $2,999,999 2 0 200%

$3,000,000 - $4,999,999 1 1 0%

$5,000,000 and higher 0 0 0%

Market Totals 18 13 38%

Truckee/North Lake Tahoe Luxury Home Sales

Price Range 2nd Qtr 2014 2nd Qtr 2013 % Change

$1,000,000 - $1,999,999 24 17 41%

$2,000,000 - $2,999,999 4 3 33%

$3,000,000 - $4,999,999 13 6 117%

$5,000,000 and higher 15 1 1400%

Market Totals 56 27 107%

n Homes selling between $1 Million and $2 Million still represent the most active price range for both the Truckee/Tahoe and Reno/Sparks Markets, but homes at $3 Million and above are not far behind in the Truckee/Tahoe market.

n Two sales in the North Lake Tahoe area exceeded $7 Million each.

Luxury Home Sales Prices by Percentage Truckee/No. Lake Tahoe Market Reno/Sparks Market

$2,000,000–2,999,999

$2,000,000–2,999,999

$3,000,000–4,999,999

$3,000,000–4,999,999$5,000,000

and higher

$1,000,000– $1,999,999

$1,000,000– $1,999,999

83%43%

11%

7%

23% 6%27%



Truckee/North Lake Tahoe Luxury Home Sales: $2 Million and Higher

Neighborhood # of Sales Average Sale Price Highest Sale Price

Truckee, CA 11 $3,669,090 $7,050,000

Carnelian Bay, CA 1 $3,340,000 $3,340,000

Olympic Valley, CA 1 $3,500,000 $3,500,000

Rubicon Bay, CA 1 $6,250,000 $6,250,000

Tahoe City, CA 1 $4,788,000 $4,788,000


Neighborhood # of Sales Average Sale Price Highest Sale Price

Old Southwest Reno 1 $1,459,000 $1,459,000

Old Southwest Suburban Reno 4 $1,769,125 $2,325,000

South Suburban Reno 4 $1,249,500 $1,350,000

Southwest Suburban Reno 5 $1,639,083 $3,200,000

West Southwest Reno 3 $1,305,000 $1,600,000

West Washoe Valley 1 $2,200,000 $2,200,000

n Martis Camp, CA was again the number one choice for luxury home buyers in the Truckee/No. Lake Tahoe region, recording 10 of the 11 sales sold during this period. Homes sold in this new develop-ment ranged from a low of $2,650,000 to a high of $7,050,000.

n The Southwest Suburban area of Reno had the largest number of luxury home sales. The highest priced sale in this area was $3,200,000, in the community of Montreux.

Luxury Home Sales by Area Truckee/No. Lake Tahoe Market Reno/Sparks Market

Carnelian BayTruckeeOlympic Valley

Tahoe CityRubicon Bay

Old SW Suburban RenoSW Suburban RenoS Suburban Reno

W SW Reno W Washoe Valley

Old SW Reno

3 4

1

4

1

1

1

11

11

5



0

10

20

30

40

50

0

5

10

15

20

25

30

35

0

3

6

9

12

15

0

10

20

30

40

50

Reno/Sparks $1 Million and Higher Reno/Sparks $1.5 Million and Higher

Reno/Sparks $2 Million and Higher Reno/Truckee Overall Market Share

Source: Northern Nevada Regional MLS, Tahoe Sierra MLS




Dickson Realty Luxury Market Share


Find more information on these properties on DicksonRealty.com. For personalized service on these featured properties, contact [email protected].

Breathtaking Equestrian Estate 4265 Basque Lane | $2,450,000

Unique 5 acre equestrian estate located in prestigious Juniper Hills with water rights! This estate offers privacy with its dramatic gated entrance serenity with beautiful peaceful ponds and waterfalls and elegance with its warm inviting ranch style home. Superbly custom built 4688 SF home was rebuilt and renewed inside and out in 2006. Attention to detail quality and architectural elements. Enjoy the views, open space from your riding arena and viewing gazebo. MLS#140008664

Parc Foret Home Now Available20705 Pomerol Drive | $1,175,000

Brand new and much anticipated Parc Foret, located in Reno's premier community of Montreux, a gated and guarded Jack Nicklaus Signature Golf Community. Just 10 minutes from skiing, 20 minutes from Lake Tahoe. This is a "Plan 1" home and is under construction, with a Summer 2014 scheduled completion. Includes full landscaping and loaded with quality detail and finish. Single level great room design with tall ceilings and very open plan. All bedrooms are en suite. This house is built by award winning builder HomeCrafters. Located in the tall Pines. Many upgrades! MLS#130002684

Majestic Tahoe Lodge13390 Ski View Loop, Tahoe Donner, Truckee, CA | $2,450,000

Reminiscent of the Ahwahnee Lodge, this magnificent home reflects Old Tahoe styling. From the grand turret room to the handcrafted detailing finishes you will experience the best of the best construction and craftsmanship. The interior spaces offer massive log open truss beams, extensive use of stone, beautiful exotic woodwork, large open great room while providing plenty of private areas. Extra rooms include bunk room sleeps 8, study plus TV room. Situated on 2 south facing view golf course lots.

Exquisite Mountain Home25 Myrtlewood Circle | $1,595,000

Located in Galena Forest Estates this home features highest quality details from the soaring Great Room windows, 25 ft ceilings, and rock fireplace to the gourmet kitchen, and limestone floors. There is a formal dining room, office with custom built-in cabinets, master on main floor, 2 walk-in closets, loft, 2 en-suite bedrooms with private balconies, elevator, wine cellar, game room with full bar, mud room, theater room, covered outdoor patio and kitchen, waterfall, hot tub and terraced landscaping.

DicksonLuxury

CAUGHLIN RANCH DAMONTE RANCH SOMERSETT MONTRÊUX SPARKS TRUCKEE 775.746.7000 775.850.7000 775.746.7222 775.849.9444 775.685.8800 530.587.7444

DicksonLuxury.com | [email protected]

© 2014 Dickson Realty. All rights reserved. Although the information above is deemed reliable, Dickson Realty does not guarantee its accuracy.

dickson realty luxury trends 2nd quarter 2014

Documents

luxury homes

average sales price

average price

todays market

market times

renosparks luxury home

luxury trendsthe market

recent luxury market