2024 Jan Luxury Market Report - North America's Premier Destinations
Here's the report from the Institute of Luxury Home Marketing - North America's top premier destinations single family homes includes median list price, sold price, inventory, new listings, numbers sold, days on market and the market status (Buyer market, Balanced market, Seller market). Official Market Type: Seller's with a 23.94% Sales Ratio.1 • Homes are selling for an average of 97.86% of list price. • The median luxury threshold2 price is $925,000, and the median luxury home sales price is $1,270,000. • Markets with the Highest Median Sales Price: Telluride ($6,550,000), Palm Beach Towns ($4,300,000), Park City ($5,150,000), and Los Angeles Beach Cities ($6,300,000). • Markets with the Highest Sales Ratio: East Bay, CA (99%), Howard County (78%), San Francisco (76%), and Silicon Valley (72%). 1Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2 The luxury threshold price is set by The Institute for Luxury Home Marketing. If interested in a local luxury market report contact us: LYNNE MACFARLANE HOMES Intero Los Altos & Carmel | a Berkshire Hathaway affiliate DRE # 02066698 (408) 800-1141 Silicon Valley (831) 346-2743 Santa Cruz/Monterey Bay LMACFARLANE@INTERO.COM
