Buyers, you can finally take a breath! Sales in Q3 have not slowed down, however there has been a 74% increase in inventory since the first of the year. Home prices are expected to stabilize with fewer bidding wars as we head into the new year.

Read on for all of the latest details!

What's Ahead for Luxury Sales:

• The luxury real estate industry is poised for a strong finish to 2022.
• Luxury Portfolio International member firms are cautious in the face of the many factors affecting the luxury markets that are out of our control. But even with economic worries, buyers are still interested in purchasing luxury homes and still have a high level of confidence in their personal finances.
• The international buyer segments are slowly

October is all about spooky things and saying hello to fall! The crisp air marks the changing season, with cooler nights to compliment the pleasantly warm days. There are plenty of events to enjoy for all ages in Northern Nevada this October. Be sure to check out a few of our favorites below! 

Andellin Family Farms Fall Festival

Until November 5

A lot goes on at the farm in the fall! Andellin’s Adventure Farm was voted in the top ten pumpkin patches in the nation. Be sure to enjoy the animal exhibits, live music, fresh produce, barnyard activities, rides, and games. Explore the 5-acre corn maze, day or night. Board one of three zombie buses to fight a zombie invasion on the farm with paintballs. Or brave the 1/2 mile of haunted corn path

The manufacturing worker base hit a record high of 5% of Nevada’s employment landscape. This increase reflects the shift and diversification of the local economy that we have been seeing for the past decade or so. 

The Silver State has now exceeded the number of jobs that were within the state prior to the start of the pandemic. The hospitality industry interestingly has remained at 33,000 jobs short of pre-pandemic levels. Economists are unclear if it is due to cost-cutting or if workers have voluntarily left the industry. 

Seven companies relocating to or expanding within Nevada will bring hundreds of jobs to the region and pay average hourly wages ranging from $30 to $45. Nevada’s labor force is made up of more than 1.1 million

Now is a great time for buyers to get into the market! Price reductions, seller concessions, and less competition are giving buyers a bit more leverage as the market begins to shift. Home prices are still at record highs and rising, so for sellers looking to get top dollar for their home, the time to sell is now. Read on for all of the latest details!

What's Ahead for Luxury Sales:

• The luxury market is "normalizing" as rising interest rates, inflation, and economic security have put a damper on demand
• Swift change at national level has taken longer to reach Northern Nevada
• In June, the number of luxury homes on the market increased 151% YOY
• In June, the number of luxury homes sold declined by 12.5%

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Summer has finally arrived! There are so many wonderful and diverse events all summer long in the Reno-Sparks and Lake Tahoe region. We put together some of our favorites and the list got a little long. What can we say, living in northern Nevada is exciting! 

The Lake Tahoe Outdoor Arena at Harvey’s

Now - September 2022

The Lake Tahoe summer concert series in not to be missed. Hosting some of music’s names in its 4,000-seat amphitheater, this iconic Tahoe venue is right on the water’s edge. This summer’s series includes Norah Jones. Kenny Chesney, Dave Matthews Band, Jack Johnson, and more. 

Reno is Artown

The month of July

Reno transforms into Artown during the entire month of July! Enjoy exciting and engaging art-centric

Breaking ground in Reno, the Kimpton hotel is slated to open in 2025.

Las Vegas-based CAI investments has chosen the Biggest Little City for its next property investment. With properties in other states like Arizona and Florida, CAI is also working on two big projects in the downtown core of Reno. 

CAI is also renovating the former Harrah’s Reno hotel-casino into a mixed-use residential and commercial project that will later be known as the Reno City Center. The project already has Clear Capital promised as its first major office tenant and just opened a new Starbucks. Construction continues to move forward and the first residential units should be open sometime this year. 

“I mean, Las Vegas doesn’t have a Kimpton,” CAI CEO Chris

Economic and demographic factors often play a large role in the achievement of the American Dream of owning a home. Millions have this common goal, however the economy can be a limiting or improving factor. Even with a recent pandemic, the United States homeownership rate stood at 65.5% in 2021.

ZeroDown, a real estate platform, analyzed data from the Census Bureau’s Housing Vacancies and Homeownership Survey to determine which states have had the highest growth in homeownership over the past ten years. To break any ties, data from 2021 was used. 

The homeownership rate is defined as the share of houses in the state that are owner-occupied as opposed to being rented or operated as an investment property. The numbers below are actually

Chow down at the third annual Reno Food Week, kicking off on June 1. 

Join over 50 local bars, restaurants, and more as they serve up special, off-menu food and drinks for an entire week of delicious fun.

Local organizer Hungry in Reno is back to coordinate the event and encouraging locals and visitors to enjoy a variety of dining and drinking spots in town. Many of the hot spots will be donating a portion of their special menu sales to local charities. Some of the places on the list include Mari Chuy’s Mexican Kitchen, Noble Pie, Wild River Grille, Wonder Aleworks, and many more. 

You can even book a small, private tour that includes bar and restaurant stops at four places in Downtown, Midtown, or the Brewery District. Purchase

Spring is here and we can feel the buzz of excitement in the air. The first quarter of 2022 was strong for luxury sales. More homes came on the market this year than last year, but they are selling more quickly. The market is no doubt more competitive than ever as Northern Nevada continues to be the ultimate place to live on the west coast.

Read on for all of the latest details!

What's Ahead for Luxury Sales:

• First quarter luxury sales, homes sold for $1 million and above, were up 42.2% over the first quarter of 2021
• Listing in the spring months (March - May) is the best time for sellers in 30 of the 35 largest U.S. metro areas to get the highest price
• Work-from-home opportunities and low state taxes continue to prompt U.S.

The Reno Jazz Festival took the stage by storm with a triumphant return to the stage this April. 

First formed in 1962, the festival has welcomed thousands of budding young musicians to the University of Nevada, Reno. Three full days of jazz performance, workshops, concerts, and coaching keep entertainers and the entertained alike well occupied during the festival’s duration.

This year’s event was smaller than its usual 8,000 person plus attendance list. The festival was packed with content and artistry, offering more than 15 workshops on a range of jazz related artists. Students are taught by some of the country’s leading jazz artists and educators. 

“60 years is no small achievement and much gratitude and credit are due to all those that