Real Estate Blog

How will luxury sales trends change this year?

The 2021 Luxury Trends report has arrived and what a year it was. The luxury real estate buying boom, which started in 2020, grew frantic in 2021. In both years, luxury buyers headed to less populated areas to escape pandemic fears and restrictions and gain some much needed space while spending a lot of their time at home. 

Read on for all of the latest details!

What's Ahead for Luxury Sales:

  • Low standing inventory which will continue to increase (or maintain) prices
  • New construction for luxury homes will be hampered by supply chain issues, rising cost of materials, and labor shortages
  • Most, but not all, luxury buyers will want a move-in ready home with little to no remodeling or updating
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The United States Tennis Association (USTA) has announced that Team USA will play at the Reno Events Center for the 2022 Davis Cup qualifier against Colombia. The competition will take place March 4 – 5 and be the very first Davis Cup match in Reno as well as the first in Nevada since 1995. In fact, the only time that the competition has taken place in the Silver State was when the U.S. and Sweden played at Caesar’s Palace in Las Vegas 17 years ago.

A Davis Cup event is an international showcase of some of the world’s best tennis players and is viewed as the World Cup of men’s tennis. The competition is the largest international team play in world sport with almost 150 nations participating every year. The upcoming qualifier is a best-of-five match

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2021 has been a wild ride for all of us, but in the midst of so many changes many new restaurants made their debut in Reno and Sparks. New places serving Thai food, beer, empanadas, Detroit-style pizza and juicy burgers are just some of the culinary additions to Northern Nevada this year.

Here’s a look at some of the new eateries here in town:

  • Beline Carniceria & Deli opened this spring, quickly earning a reputation for its weighty, cheese-packed tortas and birria, a traditional Mexican stew that the deli has transformed into a beefy torta and cup of soup for dipping and drinking. The deli also features different cuts of meat, Mexican spices, sauces, drinks and snacks for you to try your Mexican cooking skills at home.
  • Yu De Thai in Sparks
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Thinking of relocating to Reno-Tahoe? We don’t blame you. Northern Nevada is arguably one of the best places to stake your claim in the great 50 states. As one of the fastest growing states in the nation, Nevada has so much to offer and we compiled a list of our favorite fun facts to know about the Reno-Tahoe region.

1) Research your neighborhoods. Whatever you’re in the market for, Reno-Tahoe has it all when it comes to living options. Enjoy the hustle and bustle of city life? Or perhaps looking for a quiet refuge in the forest? Each neighborhood in the area holds its unique charms.

2) Traffic doesn’t (mostly) exist. Rush hour in Northern Nevada mostly revolves around ski or beach traffic after an epic powder day or one of many cloudless summer

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Now residents of Reno-Tahoe can catch a quick, nonstop flight to the Eureka/Arcata community in Northern California. The inaugural flight service is offered by aha!, an airline powered by veteran ExpressJet Airlines, and began on November 9th.

Flights will operate each Tuesday, Thursday, and Sunday departing the California Redwood Coast – Humboldt County Airport at 11:25 a.m. PT and arrive at the Reno-Tahoe International Airport by 12:35 p.m. PT. Flights from Reno to Eureka will depart at 9:30 a.m. PT and arrive at 10:40 a.m. PT.

"We are pleased to begin service from Reno to Eureka, giving travelers in both markets the ability to put together, for example, a short spontaneous two- or three-night trip using lower week-day hotel rates" said

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Where has 2021 disappeared to? Suddenly the holidays are just around the corner and we are prepping for ski season amidst the changing fall colors. Our team would like to share the latest Reno-Tahoe luxury housing market trends (including Q3) with detailed specifics and statistics.

Read on for all of the latest details!

What's Ahead for Luxury Sales:

  • This year to date, we have seen a frantic pace of listings and offers in our market because of the lack of inventory, the number of people moving into our area, favorable interest rates, and certainly Nevada's tax environment.
  • In September, 56 luxury homes sold in the Reno/Sparks area for more than the listing price, representing 39.29% of all luxury sales. The average amount paid over the
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Mt. Rose Ski Tahoe is a favorite resort for many locals and visitors to the Reno-Tahoe area. This winter, work will begin to upgrade some of the ski terrain of the mountain and introduce a brand-new high-speed chairlift.

The Lakeview area of the mountain will be expanding to include new terrain and the project is estimated to cost around $7.5 million, with expected completion ahead of the 2022 – 23 winter season.

 

“For 41 years, the Lakeview triple has provided access to incredible skiing and riding and expansive views of Lake Tahoe. Last season, strong ridership combined with COVID-19 related chairlift restrictions proved it necessary to increase Lakeview’s lift capacity,” said Mike Pierce, Mt. Rose Ski Tahoe marketing director. “When

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Autumn is here in Northern Nevada full swing (and maybe even a taste of winter already in Lake Tahoe)! Living in Reno, we get the best of both worlds – access to the outdoor playground our area offers while enjoying four mild seasons, over 300 days of sunshine a year, and all the city amenities you could need.

Temperatures have begun to drop at night, and you can feel the crisp, fall air. The changing seasons colors may be the most beautiful part of October and November, most notably with our singing aspen trees that turn a vibrant gold color throughout these cooler days. The Sierra Nevada mountains have begun to be blanketed in snow, but there is still much of fall to enjoy! We have some of the best places to view fall colors in Reno-Tahoe and all are

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Summer is winding down and we are already welcoming fall in just a few weeks! There's nothing quite like the crisp cool air and the changing colors in the local foliage. We are back to share the latest Reno-Tahoe luxury housing market trends have arrived with all of the mid-year specifics and statistics.

Read on for all of the juicy details!

Important Mid-Year Highlights:

  • We are continuing to see the effects of low interest rates, high stock market returns, low inventory and high buyer demand throughout the end of June.
  • From January to June 2021, our luxury market sales increased from 98 homes sold in 2020 to 266 homes sold in 2021, for a 17% increase. The average sold price has increased by 10.4%.
  • While we are not forecasting a
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There’s a chill (and a new woodsy aroma) in the air, the leaves are changing, the supermarket is packed with pumpkin spice-flavored products, and Halloween decorations are popping up everywhere. That's right: Fall is in full force. So why not make the most of that perfect temperate weather and the festive spirit? There's no shortage of fun fall activities to try—both indoors and outdoors. We have all of our favorite September and October events listed below. We hope you enjoy welcoming the turn of a new season with a little festive fall fun!

 

Great Italian Festival

The Great Italian Festival transforms downtown Reno into Little Italy with a grape stomp, an Italian farmers market, food booths and incredible free, live entertainment all weekend

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