Spring has arrived and people are finding their way back into the world post-pandemic. The first quarter of the year flew by and we are here to share the latest Reno-Tahoe luxury housing market trends.
Read on for all of the juicy details!
Important Q1 Highlights:
- The market was fueled by record-low interest rates paired with demand at an all-time high for single-family homes, resulting in extremely low inventory levels and creating bidding wars across all luxury markets.
- With the distribution of the stimulus money, the stock market has soared and has positively impacted homeowners earning more than $100,000.
- According to Pew Research and Zelman analysis, 88% of those households have stock market investments including retirement accounts which have returned healthy gains.
- Historically, as long as the stock market is strong, the luxury real estate market remains strong.
Home prices are rising across the country as Americans rush to purchase houses, driven in part by a newfound ability to work remotely as a result of the COVID-19 pandemic. The Emerging Housing Markets Index from the Wall Street Journal and Realtor.com analyzed the 300 largest metropolitan areas across the country. Each housing market was evaluated based on a range of factors related to real estate, economic vitality and quality of life.
The top growing markets, therefore, were the places that are expected to see the greatest home-price growth in addition to other attractive amenities. Reno came in on the list at number 7!
Click here to see who else made the top ten.
2021 Q1 Sales Summary
*These figures represent sales from 1/1/21 - 4/28/21. Thank you to every single client that has worked with us in 2021!
Montrêux Real Estate Team Achieved Excellence In 2020
As luxury real estate experts, the Sullivan-Neal-Gore team demonstrates Dickson Realty’s commitment to creating extraordinary experiences for clients and community members in Northern Nevada. Brooke Sullivan, Heather Neal, Monica Gore, and former partner Rob Wonhof collectively offer unparalleled levels of integrity, knowledge, marketing, and negotiation skills to the Reno-Sparks market.
In 2020, the team sold 53 housing units and about $102.4 million in residential volume production.