Luxury Trends Report for Reno-Sparks, 1st Quarter 2016

Let’s take a look at the latest luxury market news for the quarter ending March 31, 2016 in the Reno-Sparks area. Dickson Realty continued the trend of holding the top spot in the luxury market for the Reno/Sparks area with more than twice the market share of its next closest competitor!

The luxury home averages reveal a positive trend with 4 more sales in Q1 of this year over last year, as well as increases in average sold price and average sold price per sq. ft. Average days on market declined from this time last year; another positive.

Our estimation is the luxury residential market will remain steady throughout the year. It is important to bear in mind that nearly 70% of luxury sales are between $1 – $1.5 million. If your home is listed over $1.5 million, you can anticipate longer market times and a smaller pool of buyers.