All You Need to Know About 2018

Posted by Brooke Sullivan on Wednesday, February 13th, 2019 at 3:31pm

Winter greetings from our team!

We don’t know about you, but we have recovered from the holiday season and are taking the first quarter of 2019 by storm. There are many exciting updates to share with you all from a re-cap of the 2018 Luxury Market Trends to current real estate happenings in our neighborhood.

The 2018 Luxury Trends Report is out! The full document summarizes these impressive gains in the Northern Nevada Luxury Market.

What a year! President and CEO of Dickson Realty, Nancy Fennel, believes that this year will result in a similar pace to 2018. There are so many companies moving their businesses to Nevada which is creating jobs and resulting in more homes sold. 2018 saw a record number of sales over $2 million. The highest in Reno was a $4.9 million sale, made by our team, and a $17.5 million sale in Lake Tahoe.

Real estate in Montreux saw an impressive double-digit increase from 2017 with home prices increasing 20% on average and the volume of sales increased by 10%.

 

Out of the top 15 most expensive homes sold in 2018, seven of them were located in Montreux and our team sold four of those (including the number one property on the list). Not only did this match our 2017 record, but no other agent on the list had more than one property. We had the top sale for the second year in a row and this year’s $4.9 million property was the highest sale ever in Montreux and the highest sales-per-square-foot since 2007.

Here’s Montrêux’s sales recap from 2018, as compared to 2017:
 
Montrêux Home Sales

  • Home Sales: 39 (10.3% increase)
  • Average Price: $1,883,734 (20% increase)
  • Average $/SF: $395 (11.3% increase)
  • Highest Home Sale: $4,900,000
  • Current “Pending” Homes: 14

 
Montrêux Lot Sales

  • Lot Sales: 17 (18% increase)
  • Average Price: $403,059 (16% increase)
  • Highest Lot Sale: $680,000

So many of our clients come from the beautiful Montreux community and, as Members ourselves, we wanted to share an important price increase coming up on May 1 for all Golf Memberships to a minimum of $50,000. There are a limited number of Memberships available, so if you've been waiting to join now might be a perfect time! Email Jackie Latragna, Membership Director, for more info.

The increase will come hand-in-hand with the grand re-opening of the Clubhouse Remodel, which you can learn more about here!

We have so many amazing featured properties and custom lots available for purchase. Interested in selling your luxury property or in need of an expert to assist in a purchase? No one knows the luxury community better or sells more real estate than the Sullivan-Wonhof-Gore Luxury Real Estate Team.

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