Nancy Fennell, President of Dickson Realty, shares her insight on the rise of luxury home sales in the Reno area.

The luxury market in Northern Nevada is defined as homes valued at $1,000,000 or higher. It’s also important to consider that people who own this price home in the Nevada market are very likely to own another luxury home in a different market. Fennell shares who is buying and selling these properties and what some of the trends in this price range are. Dickson Realty has been actively engage in the luxury market since 1988 when they were invited to join a small group of brokers from around the country. Dickson is now a member of Luxury Portfolio.

The luxury market in Northern Nevada is representative of just under 4% of sales in the

The Reno-Tahoe region has been on the rise in the media and housing is no exception.

While more jobs are being created in Northern Nevada, that means more people are coming to fill those jobs. While the median Reno housing market has been on the rise, what does that mean for the luxury market?

 Image courtesy of Dickson Realty

Only 3-4% of Reno-area home sales involve luxury homes with a price tag of $900,000 and up. That percentage is on the increase and there are predictions that the number of homes sales will double this year over 2017. Changes in the federal tax laws have already pushed up interest in the Reno market. Beginning this year, federal tax reform changes will cap interest rate deductions on mortgage debt up to $750,000 (down from

A lot happened in the year 2016.

Our nation elected a new President, Team USA dominated at the Rio Olympics and the Chicago Cubs won the World Series. While the year may have been full of changes, one thing stayed the same – our Real Estate Team was as successful as ever in the Reno luxury market.

Brooke Sullivan, Rob Wonhof and Monica Gore are the #1 Sales Team in Northern Nevada and rank in the Top 1% nationally. Three diverse and qualified real estate professionals, they have over 50 years of combined real estate experience. Out of 29 Montrêux Home sales for the year, the team listed 19 of them meaning that they represented 66% of the sold market. No other single agent had more than 1 side of a sales transaction in Montrêux in 2016.

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