The Institute for Luxury Home Marketing report provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends. Questions addressed are whether if prices will fall and where are the most likely opportunities for luxury buyers exist. The art of selling and buying in this market needs a critical and analytical approach. Understanding the realities of setting expectations accordingly will ensure that goals are achieved.
**Contact Lynne MacFarlane, a member of the Institute of Luxury Home Marketing today to discuss your market home strategy and analysis.
LYNNE MACFARLANE, MCDM, SRS, SRES | Realtor Intero Los Altos & Carmel, CA
Prof Fiduciary Assoc of CA Silicon Valley affiliate member.
Call
831-346-2743 for an appt.
LMACFARLANE@INTERO.COM
www.LynneMacFarlane.com
The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales
prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report.
Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. The Glimmer of Change Grows Brighter
Last month, we reported a glimmer of hope as the luxury market, for the first time in 2023,
witnessed an increase in the number of sold properties and new inventory entering the market
compared to the same month in 2022. This encouraging trend continues this month.
The Numbers are Up
Compared to November 2022, the number of sales last month rose 5.1% for single-family homes
and 13.7% for attached homes. This is not the only growth statistic that could show the start, albeit
a slow one, of a market comeback.
The number of new listings entering the market last month also increased compared to November
2022, by 21.1% for single-family homes and 29.3% for attached properties. The rise in new inventory
entering the market is equally significant as it shows a growing confidence by sellers compared to
last year.
Lack of new inventory has been one of the most significant challenges to the growth of sales during
most of 2023, as it created a roadblock for opportunity. This was especially significant in a market
where buyers had become highly specific in their property specification preferences.
Get Ready for 2024 the Right Way
During this unconventional market, we highly recommend working with a luxury property specialist to gain insights into what is truly happening in your local marketplace. The art of selling and buying in this market needs a critical and analytical approach. Understanding the realities and setting realistic expectations accordingly will ensure that your goals are achieved.
If you're considering to buy, sell or invest in California reach out and let's connect
LYNNE MACFARLANE, Realtor
Intero Los Altos & Carmel | DRE 02066698
831-346-2743
408-800-1141
LYNNE@LYNNEMACFARLANE.COM
WWW.LYNNEMACFARLANE.COM
Expectations and Considerations for 2024
To say that the high-end market has seen a dramatic growth over the last few years is probably an
understatement. The recognition of its impact and undeniable influence, through emerging trends
and architectural innovations, on the broader real estate landscape has been equally significant.
As we step into 2024, the luxury market now stands at another fascinating juncture.
This sector, known for its resilience and capacity to set trends, experienced a notable positive shift
towards the end of 2023. After a period of stagnation driven by economic uncertainties, the market
saw a resurgence in activity, marking a pivotal moment for affluent investors and luxury property
enthusiasts.
The initial three quarters of 2023 were characterized by a cautious approach from both buyers and
sellers, largely attributed to the unpredictable economic climate. Concerns over inflation, fluctuating
interest rates, and the overall economic outlook led to a slowdown in transactions.
However, the landscape began to shift in the last quarter of the year. As indicators of economic
stabilization became more apparent, confidence returned to the luxury real estate market. This
confidence was mirrored in increased inventory levels and a subsequent rise in sales, surpassing
figures from the same period in 2022.
A Market Still Evolving
Early statistics from January 2024, based on the 155 markets researched by The Institute, suggest
that this positive trend is not only continuing but has the potential to accelerate, particularly in
the single-family luxury market. Indicators point to a robust spring market that could potentially
outperform the previous year.
In the luxury single-family market not only are all the data parameters stronger compared to
January 2022, but there is also a trending upwards compared to December 2023. Both the overall
inventory level and new listings entering the market grew 15.9% and 25.4% respectively compared to
NORTH AMERICAN LUXURY REVIEW
January 2023. Compared to December 2023, inventory grew 2% but more importantly, new listings
by a staggering 88.9%. As a result, the single-family market saw an 18.4% increase in sales during
January 2024 compared to January 2023, and the median sold price increased by 1.6%.
Luxury Markets in Demand
As demand returns, we review several markets in the U.S. and Canada that experienced significant growth in March. Much has been written recently about the popularity of lower priced luxury markets, especially in the Midwest, so we wondered, with the uptick in sales during March, if this trend was still holding true…or if another shift is occurring.
East Bay, California
Taking the number one spot is not a Midwest market, but East Bay in California, where the median luxury sold price averaged close to $1.5 million during the first quarter of 2023. Not only did this market see a huge increase in demand during the pandemic, but once again it is drawing buyers to
its highly diversified communities and seems set for a strong spring 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%).
Challenging Times in a Market Full of Contradictions
There is little doubt the luxury real estate market is facing some interesting challenges that even
have experts contradicting each other in their predictions and assumptions.
Statistics in many luxury markets still show that they are favorable to sellers – so why are homeowners
remaining hesitant to list their homes? For the fourth straight month, the number of new listings
entering the market has fallen, with increases in inventory levels mainly attributable to stale listings
lingering on.
Both sellers and buyers are sitting on the fence, with neither side wanting to jump into this
unconventional market unless presented with the right opportunity. The average days on market
have increased compared to last year, but relative to pre-pandemic averages, homes that have sold
recently are still selling twice as fast.
The Institute for Luxury Home Marketing produced this report. It
provides an in-depth look at the top residential markets across the United States and Canada.
“This “sudden” upward shift of inventory has already started the rumor that the housing market is ready to burst its bubble – and indeed, some highly inflated markets and overpriced properties may well be impacted – but most experts acknowledge that this is simply the market finally starting to cool.”
the Luxury Market Report, your guide to luxury real estate market data and trends
for North America. Produced monthly by The Institute for Luxury Home Marketing, this report
provides an in-depth look at the top residential markets across the United States and Canada. Within the
individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and
sold properties designed to showcase current market status and recent trends. The national report illustrates
a compilation of the top North American markets to review overall standards and trends.
The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales
prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report.
Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. The Glimmer of Change Grows Brighter
Last month, we reported a glimmer of hope as the luxury market, for the first time in 2023,
witnessed an increase in the number of sold properties and new inventory entering the market
compared to the same month in 2022. This encouraging trend continues this month.
The Numbers are Up
Compared to November 2022, the number of sales last month rose 5.1% for single-family homes
and 13.7% for attached homes. This is not the only growth statistic that could show the start, albeit
a slow one, of a market comeback.
The number of new listings entering the market last month also increased compared to November
2022, by 21.1% for single-family homes and 29.3% for attached properties. The rise in new inventory
entering the market is equally significant as it shows a growing confidence by sellers compared to
last year.
Lack of new inventory has been one of the most significant challenges to the growth of sales during
most of 2023, as it created a roadblock for opportunity. This was especially significant in a market
where buyers had become highly specific in their property specification preferences.
Get Ready for 2024 the Right Way
During this unconventional market, we highly recommend working with a luxury property specialist to gain insights into what is truly happening in your local marketplace. The art of selling and buying in this market needs a critical and analytical approach. Understanding the realities and setting realistic expectations accordingly will ensure that your goals are achieved.
If you're considering to buy, sell or invest in California reach out and let's connect
LYNNE MACFARLANE, Realtor
Intero Los Altos & Carmel | DRE 02066698
831-346-2743
408-800-1141
LYNNE@LYNNEMACFARLANE.COM
WWW.LYNNEMACFARLANE.COM
Expectations and Considerations for 2024
To say that the high-end market has seen a dramatic growth over the last few years is probably an
understatement. The recognition of its impact and undeniable influence, through emerging trends
and architectural innovations, on the broader real estate landscape has been equally significant.
As we step into 2024, the luxury market now stands at another fascinating juncture.
This sector, known for its resilience and capacity to set trends, experienced a notable positive shift
towards the end of 2023. After a period of stagnation driven by economic uncertainties, the market
saw a resurgence in activity, marking a pivotal moment for affluent investors and luxury property
enthusiasts.
The initial three quarters of 2023 were characterized by a cautious approach from both buyers and
sellers, largely attributed to the unpredictable economic climate. Concerns over inflation, fluctuating
interest rates, and the overall economic outlook led to a slowdown in transactions.
However, the landscape began to shift in the last quarter of the year. As indicators of economic
stabilization became more apparent, confidence returned to the luxury real estate market. This
confidence was mirrored in increased inventory levels and a subsequent rise in sales, surpassing
figures from the same period in 2022.
A Market Still Evolving
Early statistics from January 2024, based on the 155 markets researched by The Institute, suggest
that this positive trend is not only continuing but has the potential to accelerate, particularly in
the single-family luxury market. Indicators point to a robust spring market that could potentially
outperform the previous year.
In the luxury single-family market not only are all the data parameters stronger compared to
January 2022, but there is also a trending upwards compared to December 2023. Both the overall
inventory level and new listings entering the market grew 15.9% and 25.4% respectively compared to
NORTH AMERICAN LUXURY REVIEW
January 2023. Compared to December 2023, inventory grew 2% but more importantly, new listings
by a staggering 88.9%. As a result, the single-family market saw an 18.4% increase in sales during
January 2024 compared to January 2023, and the median sold price increased by 1.6%.
Luxury Markets in Demand
As demand returns, we review several markets in the U.S. and Canada that experienced significant growth in March. Much has been written recently about the popularity of lower priced luxury markets, especially in the Midwest, so we wondered, with the uptick in sales during March, if this trend was still holding true…or if another shift is occurring.
East Bay, California
Taking the number one spot is not a Midwest market, but East Bay in California, where the median luxury sold price averaged close to $1.5 million during the first quarter of 2023. Not only did this market see a huge increase in demand during the pandemic, but once again it is drawing buyers to
its highly diversified communities and seems set for a strong spring 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%).
Challenging Times in a Market Full of Contradictions
There is little doubt the luxury real estate market is facing some interesting challenges that even
have experts contradicting each other in their predictions and assumptions.
Statistics in many luxury markets still show that they are favorable to sellers – so why are homeowners
remaining hesitant to list their homes? For the fourth straight month, the number of new listings
entering the market has fallen, with increases in inventory levels mainly attributable to stale listings
lingering on.
Both sellers and buyers are sitting on the fence, with neither side wanting to jump into this
unconventional market unless presented with the right opportunity. The average days on market
have increased compared to last year, but relative to pre-pandemic averages, homes that have sold
recently are still selling twice as fast.
The Institute for Luxury Home Marketing produced this report. It
provides an in-depth look at the top residential markets across the United States and Canada.
“This “sudden” upward shift of inventory has already started the rumor that the housing market is ready to burst its bubble – and indeed, some highly inflated markets and overpriced properties may well be impacted – but most experts acknowledge that this is simply the market finally starting to cool.”
the Luxury Market Report, your guide to luxury real estate market data and trends
for North America. Produced monthly by The Institute for Luxury Home Marketing, this report
provides an in-depth look at the top residential markets across the United States and Canada. Within the
individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and
sold properties designed to showcase current market status and recent trends. The national report illustrates
a compilation of the top North American markets to review overall standards and trends.
guide to luxury real estate market data and trends
for North America. Produced monthly by The Institute for Luxury Home Marketing, this report
provides an in-depth look at the top residential markets across the United States and Canada. Within the
individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and
sold properties designed to showcase current market status and recent trends. The national report illustrates
a compilation of the top North American markets to review overall standards and trends.
Understanding the New Reality of 2023
In this month’s report, we take a step back in time to understand why the luxury real market has
truly changed, how this new reality for buyers and sellers was created, and why it needs to be
appreciated.
Using 2019 as our benchmark year, a year that saw a steady and more typical sales cycle but one
that also showed a growing confidence in the purchase of luxury homes as the year progressed.
Growth was driven by demand as buyers saw financial potential due to strong stability within the
luxury real estate market.
Inventory availability in 2019 was not considered to be a factor in preventing sales, as most markets
typically saw a significantly greater number of homes for sale than potential buyers. It’s interesting
to note that prior to the pandemic it was rare for the luxury real estate market not to be more
favorable to buyers, and equally, expectations were that homes would take much longer to sell than
those in the traditional market.
As we all know, and it has been well documented, this all changed with the onset of the Covid-19
pandemic and the surge in demand for luxury properties. Demand outstripped supply at a dramatic
and voracious level so that even the rapid change of the market in April 2022, which saw an influx
of new listings, proved to be too little, given the uptake in sales during May and June of the same
year.
Like 2019, in 2023 there has been a return of confidence in the purchase of homes, month over
month sales volumes have increased, after the market faltered in the last four months of 2022.
However, this is where the similarities end, as while demand is still important, the new reality is the
status of the luxury real estate market is now clearly correlated to the level of available inventory.
Comparing inventory data in 2023 shows the average level of total listings per month is still
approximately 40% below levels in 2019.
NORTH AMERICAN LUXURY REVIEW
The data also clearly shows that it is not just the depleted level of inventory that is holding back
sales, but as we can see from the charts below, it is the actual number of new listings entering
the market each month that must also be directly correlated to sales activity – if the level of new
inventory increases, so does the number of sold properties for the month, and vice versa.
While it is contended that we are moving towards a buyer’s market, the current data for August 2022 shows that conditions in most luxury markets are still favorable to sellers –
of the 140 single-family markets showcased in our report, 106 remain seller markets.
Annie Williams Market Trends March-April 2015Jon Weaver
As we’ve mentioned many times, inventory of single-family, re-sale homes, condos and rentals in San Francisco is very low. Fortunately, there are a slew of new buildings in
some stage of planning or construction. At last count, we identified 23 new condo projects around the city. There have been or will shortly be 2,498 new condo/loft units on the market. There are 141 more units in the proposal stage.
This should alleviate some of the pricing pressure in San Francisco.
Things to Consider When Buying a Home Spring 2023 in ChicagoTammy Jackson
Buying a home is an exciting process, but it can also be overwhelming. There are many factors to consider when buying a home — things from the condition of the house to neighborhood safety, to whether you're even ready for homeownership. In this presentation, we'll walk through some things to keep in mind when buying your first home or upgrading to your next one.
Things to Consider When Buying a Home - Spring 2023 EditionTom Blefko
Buying a new home can be a complicated process. This guide will inform you and answer many of your questions about buying a home in the Spring of 2023.
Lazard Investment Research: Update on the Improving Foundations of US House P...LazardLazard
Home prices have continued their upward climb, as evidenced by the latest report from S&P/Case-Shiller. However, the most recent data show a sequential deceleration in aggregate price increases. While there are several variables that influence the price trajectory of housing, the recent spike in borrowing rates—in anticipation of tapering by the US Federal Reserve—appears to be a primary driver. In this paper, we discuss the key variables, in addition to housing price indices, that contribute to create a more complete assessment of the fundamentals for a further price recovery.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to help agents combat the “doom and gloom” messages of the national print and television media with real information on real estate.
The Robb Fleischer’s Real Estate Report – Local Market Trends San Francisco includes monthly updates regarding mortgage rates, market statistics, sales momentum, pricing momentum, trends at a glance, foreclosure statistics and more.
November 2010 Real estate market watch is a monthly report provided by Todd Menard of the Menard & Rohn Real Estate Group. Todd Menard is the Founder of Partners in Housing
Institute of Luxury Home Marketing - Silicon Valley FEB 2024 | Lynne MacFarla...Lynne Watanabe-MacFarlane
Here's the Feb 2024 Institute of Luxury Home Marketing report for Silicon Valley (Peninsula and South Bay Area).
Please Like & Subscribe to Lynne MacFarlane Homes newsletter and search platform for the newest listings and market information.
https://lynnemacfarlane.realscout.me/
YouTube Channel: https://www.youtube.com/@LynneMacfarlaneHomes/videos
Facebook Page: https://www.facebook.com/LynneMacFarlaneHomes
Instagram: https://www.instagram.com/lynnemacfarlanerealtor/
LinkedIn: https://www.linkedin.com/in/lynnemacfarlane/
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
More Related Content
Similar to North Am Luxury Marketing Report November 2023
guide to luxury real estate market data and trends
for North America. Produced monthly by The Institute for Luxury Home Marketing, this report
provides an in-depth look at the top residential markets across the United States and Canada. Within the
individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and
sold properties designed to showcase current market status and recent trends. The national report illustrates
a compilation of the top North American markets to review overall standards and trends.
Understanding the New Reality of 2023
In this month’s report, we take a step back in time to understand why the luxury real market has
truly changed, how this new reality for buyers and sellers was created, and why it needs to be
appreciated.
Using 2019 as our benchmark year, a year that saw a steady and more typical sales cycle but one
that also showed a growing confidence in the purchase of luxury homes as the year progressed.
Growth was driven by demand as buyers saw financial potential due to strong stability within the
luxury real estate market.
Inventory availability in 2019 was not considered to be a factor in preventing sales, as most markets
typically saw a significantly greater number of homes for sale than potential buyers. It’s interesting
to note that prior to the pandemic it was rare for the luxury real estate market not to be more
favorable to buyers, and equally, expectations were that homes would take much longer to sell than
those in the traditional market.
As we all know, and it has been well documented, this all changed with the onset of the Covid-19
pandemic and the surge in demand for luxury properties. Demand outstripped supply at a dramatic
and voracious level so that even the rapid change of the market in April 2022, which saw an influx
of new listings, proved to be too little, given the uptake in sales during May and June of the same
year.
Like 2019, in 2023 there has been a return of confidence in the purchase of homes, month over
month sales volumes have increased, after the market faltered in the last four months of 2022.
However, this is where the similarities end, as while demand is still important, the new reality is the
status of the luxury real estate market is now clearly correlated to the level of available inventory.
Comparing inventory data in 2023 shows the average level of total listings per month is still
approximately 40% below levels in 2019.
NORTH AMERICAN LUXURY REVIEW
The data also clearly shows that it is not just the depleted level of inventory that is holding back
sales, but as we can see from the charts below, it is the actual number of new listings entering
the market each month that must also be directly correlated to sales activity – if the level of new
inventory increases, so does the number of sold properties for the month, and vice versa.
While it is contended that we are moving towards a buyer’s market, the current data for August 2022 shows that conditions in most luxury markets are still favorable to sellers –
of the 140 single-family markets showcased in our report, 106 remain seller markets.
Annie Williams Market Trends March-April 2015Jon Weaver
As we’ve mentioned many times, inventory of single-family, re-sale homes, condos and rentals in San Francisco is very low. Fortunately, there are a slew of new buildings in
some stage of planning or construction. At last count, we identified 23 new condo projects around the city. There have been or will shortly be 2,498 new condo/loft units on the market. There are 141 more units in the proposal stage.
This should alleviate some of the pricing pressure in San Francisco.
Things to Consider When Buying a Home Spring 2023 in ChicagoTammy Jackson
Buying a home is an exciting process, but it can also be overwhelming. There are many factors to consider when buying a home — things from the condition of the house to neighborhood safety, to whether you're even ready for homeownership. In this presentation, we'll walk through some things to keep in mind when buying your first home or upgrading to your next one.
Things to Consider When Buying a Home - Spring 2023 EditionTom Blefko
Buying a new home can be a complicated process. This guide will inform you and answer many of your questions about buying a home in the Spring of 2023.
Lazard Investment Research: Update on the Improving Foundations of US House P...LazardLazard
Home prices have continued their upward climb, as evidenced by the latest report from S&P/Case-Shiller. However, the most recent data show a sequential deceleration in aggregate price increases. While there are several variables that influence the price trajectory of housing, the recent spike in borrowing rates—in anticipation of tapering by the US Federal Reserve—appears to be a primary driver. In this paper, we discuss the key variables, in addition to housing price indices, that contribute to create a more complete assessment of the fundamentals for a further price recovery.
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to help agents combat the “doom and gloom” messages of the national print and television media with real information on real estate.
The Robb Fleischer’s Real Estate Report – Local Market Trends San Francisco includes monthly updates regarding mortgage rates, market statistics, sales momentum, pricing momentum, trends at a glance, foreclosure statistics and more.
November 2010 Real estate market watch is a monthly report provided by Todd Menard of the Menard & Rohn Real Estate Group. Todd Menard is the Founder of Partners in Housing
Similar to North Am Luxury Marketing Report November 2023 (20)
Institute of Luxury Home Marketing - Silicon Valley FEB 2024 | Lynne MacFarla...Lynne Watanabe-MacFarlane
Here's the Feb 2024 Institute of Luxury Home Marketing report for Silicon Valley (Peninsula and South Bay Area).
Please Like & Subscribe to Lynne MacFarlane Homes newsletter and search platform for the newest listings and market information.
https://lynnemacfarlane.realscout.me/
YouTube Channel: https://www.youtube.com/@LynneMacfarlaneHomes/videos
Facebook Page: https://www.facebook.com/LynneMacFarlaneHomes
Instagram: https://www.instagram.com/lynnemacfarlanerealtor/
LinkedIn: https://www.linkedin.com/in/lynnemacfarlane/
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
'The best way to sum up the luxury real estate market during 2023 might be that it remained "unapologetically resilient", despite a slower year in the overall sales volume compared to 2022.
Purchasing a luxury home also retained its appeal with high demand from affluent buyers still looking to realize their desire to buy a new residence. Equally they recognized that the investment opportunity remained, albeit over the longer term.
Want to learn more, make sure you connect with MacFarlane Homes Facebook Page:
https://www.facebook.com/LynneMacFarlaneHomes
LYNNE MACFARLANE, MCDM, SRS, SRES | Realtor
Intero Los Altos & Carmel, Berkshire Hathaway
- Institute of Luxury Home Marketing - Member
(408) 800-1141
(831) 346-2743
WWW.LYNNEMACFARLANE.COM
LMACFARLANE@INTERO.COM
Opportunity Knocks
The biggest impacts are more likely to be felt at the local market level and will depend on the current
demand profile of their buyers against ongoing supply. So, expect to hear some conflicting analysis
because all markets are not equal and results from a North American perspective could look very
different at the grassroots level.
While there will be much debate about how things will play out over the next year, like all markets,
there is always an opportunity for those who are ready. There are niches in every market: whether
moving to a location that affords a better cost of living, recognizing luxury pockets or property types
that are next in the demand cycle, or simply biding one’s time in anticipation of finding a property
that is below market value.
Regardless of an affluent buyer’s financial profile, there is still significant confidence in the luxury
real estate market and a belief in the stability of owning property. Even if some buyers previously
dropped out of the real estate game due to fatigue, frustration, or even hesitation during 2023, in
2024 they may be primed to return as inventory levels improve.
We highly recommend working with a luxury property specialist during this unconventional market
to ascertain what is truly happening in your local marketplace. The art of selling and buying in this
market needs a critical and analytical approach; understanding the realities and setting expectations
accordingly will ensure that goals are achieved.
Luxury Trends for the Summer
As we head into summer, what trends are set to define this season’s must-haves, and are there
any surprises?
Smart technology and wellness amenities are certainly top favorites of the affluent homeowner,
but today’s buyer is also looking for the home that will fulfil their lifestyle decisions – this more
than just the style of the home and/or its location, it is the experience offered by the property that
will likely set it apart.
This experience tends to encompass not only unique and spectacular features within the home
and its grounds but also the property’s location and surrounding amenities. Affluent buyers’
expectations have shifted, becoming honed by the need to find a sense of purpose for their chosen
property and its location as well the opportunity to still add their personal identity and style.
Despite lingering uncertainty outside the luxury real estate market, the steadiness of prices, sales,
and inventory levels have resulted in a consistent increase in the demand for luxury properties
during the first five months of 2023.
The number of luxury properties sold has risen month over month since the start of 2023, aside
from January, which did see a downturn in sales. Despite the slight plateau in April, May’s figures
saw a 33% increase in sales for single-family homes compared to April and attached properties
sales were 26% higher.
This has been assisted by the increased level of new inventory entering the market, up 22%
compared to April 2022 for single-family homes and 14% for attached homes – putting inventory
levels back on par with levels seen in May 2022.
While an increase in new inventory has resulted in a greater number of sales, the significant
difference in percentage increase of sales versus new inventory proves that the demand for luxury
properties continues, enabling the market to remain strong.
- Strength and Comfort -
There is a focus on permanence in all aspects of the luxury real estate market with quick fads a
trend of the past; expect to see quality, endurability, and sustainability as the key determinants in
the building, design, and refurbishment of homes for the remainder of the year.
Nature is being embraced, creating a more natural feel through layering, texturing, sustainability processes. Color neutrality with warmer palettes, and Artisan and artistic features are being blended into old and new designs to create soothing, comfortable, yet unique environments.
These elements will be at the forefront of this season’s design palette, and technology will be implemented to provide efficiency but, more specifically, to create spaces and features that offer a sense of ambient wellness.
Color and Texture Return
The cool greys, sharp blacks, and clean or pure whites are taking a back seat as earthy greens, soft
yellows, deep reds, and gentle pinks, used for accents and contrast, are blended with more warm
neutral palettes creating richer dimensions to rooms. Warm greys, creams, and browns
Here's how to make your home fire-resistant inside and out. This is a nice guide to help homeowners become protected against fires in California. Many homeowners have experienced difficulty in securing affordable fire insurance or have faced policy non-renewals, leaving them vulnerable and financially exposed in the face of potential fire disasters.
This is from the California Association of Realtors - C.A.R.'s California & County Sales & Price Report for detached homes are generated from a survey of more than 90 associations of REALTORS® and MLSs throughout the state, representing 90 percent of the market.
If you're interested in a specific country or area, please don't hesitate to text or call me! I love to help educate my clients, it helps to make well informed decisions!
Lynne Watanabe MacFarlane, Realtor Intero Los Altos
408-800-1141 text
Silicon Valley & Coastal properties
Lynne MacFarlane, Realtor with Intero Real Estate Services presentation for Buyers and Sellers in the SF Bay Area. Using data from Aculist MLSListings. Report includes Santa Clara County data of single family residences and condo/townhomes.
Video Presentation: https://youtu.be/Z71GtnGQE9k
For a buyer or seller consultation and a full Professional Equity Assessment Report (PEAR) for your home, call Lynne at
(408) 800-1141 Silicon Valley
(831) 346-2743 Santa Cruz/ Monterey Bay Luxury Properties
For video presentation and more Buyer and Seller Real Estate Tips see: https://bit.ly/MacFarlaneHomesRETips
Quarterly Market Review National & Regional real estate review for Q4 2022 from partner economist with MLSListings “The MLSListings area is disproportionately tied to the tech sector, and after booming for several years in tandem with the stock market, is returning to more sustainable levels. I do not foresee any prolonged decline
in MLSListings area home prices on the horizon and expect that year-over-year price declines will be roughly 15% of their peak. Further, I anticipate that the market will pick up again in late 2023 as the Fed prepares to lower interest rates.”
Proposition 19: Homeowner Tax Savings Everywhere in the State of CaliforniaLynne Watanabe-MacFarlane
Homeowners who are 55 or over, severely disabled, or whose homes were destroyed by wildfire
or natural disaster, may transfer the taxable value of their primary residence to a replacement
primary residence …
§ Anywhere in the state
§ Regardless of the location
§ Regardless of the value of the replacement primary residence — even if it’s greater in value
(with an upward adjustment in the tax basis if the replacement property is greater in value)
§ Within two years of the sale of the original primary residence
§ Up to three times (although there’s no limit for those whose houses were destroyed by wildfire
or natural disaster)
These rules are in effect on and after April 1, 2021
The information contained herein is
intended to provide general
information and is not intended as
a substitute for individual legal
advice. Specific examples used are
only general examples, and the
actual amount of property taxes
owed for any person will depend on
the specific situation of the
individual and a wide variety of
other factors. Therefore, all persons
are directed to seek the advice of
an attorney regarding their specific
tax and legal situation.
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Dynamics 365 Bid Management for Construction ProjectsDynamic Netsoft
This PDF provides a straightforward guide to using Dynamics 365 for efficient bid management in construction projects. Learn how to streamline processes, improve accuracy, and enhance productivity with practical tips and step-by-step instructions.
https://dnetsoft.com/dynamics-365-bid-management-software
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
3. REPORT GLOSSARY
The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales
prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and
price-per-square-foot – to provide you a comprehensive North American Luxury Market report.
Additionally, we have further examined all of the individual luxury markets to provide both an
overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury
single-family homes and luxury attached homes.
It is our intention to include additional luxury markets on a continual basis. If your market is
not featured, please contact us so we can implement the necessary qualification process. More
in-depth reports on the luxury communities in your market are available as well.
Looking through this report, you will notice three distinct market statuses, Buyer's Market,
Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater
control over the price point. This market type is demonstrated by a substantial number of
homes on the market and few sales, suggesting demand for residential properties is slow for
that market and/or price point.
By contrast, a Seller's Market gives sellers greater control over the price point. Typically,
this means there are few homes on the market and a generous demand, causing competition
between buyers who ultimately drive sales prices higher.
A Balanced Market indicates that neither the buyers nor the sellers control the price point at
which that property will sell and that there is neither a glut nor a lack of inventory. Typically,
this type of market sees a stabilization of both the list and sold price, the length of time the
property is on the market as well as the expectancy amongst homeowners in their respective
communities – so long as their home is priced in accordance with the current market value.
REMAINING INVENTORY: The total number of homes available at the close of a month.
DAYS ON MARKET: Measures the number of days a home is available on the market before a
purchase offer is accepted.
LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes
to luxury homes.
NEW LISTINGS: The number of homes that entered the market during the current month.
PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual
square foot.
SALES RATIO: Sales Ratio defines market speed and determines whether the market currently
favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's
Market = 21% plus. If >100%, sales from previous month exceed current inventory.
SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value
of the list price.
– LUXURY REPORT EXPLAINED –
4. "While there are no expectations
of a sudden or dramatic change,
a few market variables did shift
slightly during October."
5. The Keys to Market Growth
There is little doubt the luxury real estate market is still facing some interesting challenges, resulting
in both sellers and buyers remaining decidedly on the fence. However, while there are no expectations
of a sudden or dramatic change, a few market variables did shift slightly during October.
To date, all indications are that those who need to buy and/or sell will continue to do so, but for those
whose criteria is more based on ‘wanting to buy,’ there will continue to be a hesitancy while they
hope for inventory choice to improve and/or prices to become more favorable.
Equally, sellers will remain resistant, not just because they do not want to give up their current low
mortgage rates, but because they see little inventory to purchase and therefore less reason to lower
their prices.
These expectations and reactions by buyers and sellers are not new; in fact, they are part of a trend
that started last fall and one that became firmly entrenched month after month during 2023. The
reality remains that unless something shifts, such as a decrease in interest rates, it is more than
likely that the current stalemate could well remain the status quo well into 2024.
However, last month did see a flicker of change, small but potentially enlightening as to future
possibilities.
A Glimmer of Change
October’s statistics show that for the first time during 2023, the luxury market registered an increase
in the number of sold properties compared to its counterpart month in 2022. Single-family home
sales rose 2.73% and 7.72% for attached properties.
It’s too early to say that this could signify a trend, especially given last month’s unexpected decrease
in the number of sales compared to September 2022. However, this does show there is a resilience
in the luxury arena, further underlined by the continued stability of the median sold price in both
markets.
NORTH AMERICAN LUXURY REVIEW
6. This upswing in sales could be the result of increasing inventory levels providing buyers more
opportunity. The level of new inventory entering the market, especially, has been one of the most
significant challenges to the growth of sales during 2023.
The number of sales from March to July often outstripped or closely matched the quantity of new
listings, thereby creating an imbalance. However, for the last two months, a higher percentage of
new inventory has helped redress some of this previous imbalance and facilitated the opportunity
for increased sales.
In addition, mortgage rate increases have seemingly stabilized, and there has been little talk of
further increases in either the US or Canada. In fact, according to a recent article from Inman1
the
Mortgage Bankers Association (MBA) announced on that 30-year-fixed-rate mortgages have fallen
by 67 basis points to 7.36% from a 2023 high of 8.03%, as registered on October 19th, 2023.
This saw mortgage applications increase last week, with MBA’s weekly mortgage application survey
reporting that requests were up by a seasonally adjusted 3% compared to the previous three weeks.
There is further speculation in the futures markets that the Fed will bring down rates by May 2024.
Fannie Mae Chief Economist Doug Duncan stated to Inman2
that wage growth continues to decelerate
from 2022 peaks, lessening the inflationary pressures present in the economy.
“Overall, today’s report shows a healthy but slowing labor market, and especially given the
decelerating job growth figures, this is not a report that we would consider consistent with continued
robust inflationary pressures,” Duncan said in a statement.
There is also downward pressure in Canada as fixed-rate mortgages fell between 0.05 to 0.35%
points in the last week. However, expectations are that any significant rate changes will not happen
until later in 2024, as Canada takes a more cautionary approach and seeks to bring inflation back
down to their 2% goal.
7. Importantly, this shows us that when mortgage rates fall, this not only certainly boosts optimism
in the real estate market but should see sellers moving forward with the plans they put on hold for
the last year.
Will Prices Fall?
This is a big question, and yet the jury remains cautious as to what extent prices will fall or if they
even will. Indeed, some experts predict they will continue to rise slightly.
Since July 2022, there has been little change in the median sold price for single-family homes, which
has continued to hover around $1.3 million for single-family homes and $860,000 for attached
properties (based on the data from 150 luxury markets the Institute evaluates each month).
Ultimately it still comes down to supply and demand. While a small decrease in interest rates may
boost consumer confidence, it’s unlikely to create a sudden rush of inventory that will result in a
dramatic price drop. More likely, any increase in inventory levels will result in an uptick in sales, as
we saw this October, because there is still a high level of pent-up demand.
On the other hand, it is equally unlikely that the luxury market will return to the same levels of
demand, sales, and price increases that occurred during the pandemic, as those were extraordinary
years.
That being said, the impacts of the pandemic years have forever changed the importance of owning
a luxury property and it is now widely acknowledged by an ever-growing demographic of affluent
buyers as an important low-risk asset that offers a long-term yield.
This was proven over the last year, as between rising economic uncertainty, political unrest, stock
and crypto market volatility, and to some extent climate change effects, overall, the luxury property
market has continued to maintain its financial stability.
8. Historically, real estate generally offered reliability and stability, favoring those investors who were
able to play the long game, i.e., hold onto their asset when the market trends down and wait until
prices start to rise again. There is little to suggest it will do otherwise in the future.
Opportunity Knocks
The biggest impacts are more likely to be felt at the local market level and will depend on the current
demand profile of their buyers against ongoing supply. So, expect to hear some conflicting analysis
because all markets are not equal and results from a North American perspective could look very
different at the grassroots level.
While there will be much debate about how things will play out over the next year, like all markets,
there is always an opportunity for those who are ready. There are niches in every market: whether
moving to a location that affords a better cost of living, recognizing luxury pockets or property types
that are next in the demand cycle, or simply biding one’s time in anticipation of finding a property
that is below market value.
Regardless of an affluent buyer’s financial profile, there is still significant confidence in the luxury
real estate market and a belief in the stability of owning property. Even if some buyers previously
dropped out of the real estate game due to fatigue, frustration, or even hesitation during 2023, in
2024 they may be primed to return as inventory levels improve.
We highly recommend working with a luxury property specialist during this unconventional market
to ascertain what is truly happening in your local marketplace. The art of selling and buying in this
market needs a critical and analytical approach; understanding the realities and setting expectations
accordingly will ensure that goals are achieved.
1. https://www.inman.com/2023/11/08/homebuyers-respond-to-biggest-drop-in-mortgage-rates-this-year/
2. https://www.inman.com/2023/11/03/big-drop-in-mortgage-rates-as-unemployment-hints-at-recession/
9. – 13-MONTH MARKET TRENDS –
Single-Family Homes Attached Homes Single-Family List Price Attached List Price
DAYS
ON
MARKET
SALES
PRICE
VS.
LIST
PRICE
All data is based off median values. Median prices represent properties priced above respective city benchmark prices.
FOR THE LUXURY NORTH AMERICAN MARKET
22
24
32
35
41
23
17
14 14 15
20
23
24
24
27
29
32
29
23
18
17 16
18
20 20 21
0
5
10
15
20
25
30
35
40
45
OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT
PRICE
PER
SQUARE
FOOT
$488
$499
$496
$482
$486
$497
$478
$489
$488
$496
$472
$491
$487
$410
$407
$390
$378
$400
$399
$398
$412
$406
$393
$403
$399
$406
$0
$100
$200
$300
$400
$500
$600
OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT
$500,000
$700,000
$900,000
$1,100,000
$1,300,000
$1,500,000
$1,700,000
$1,900,000
OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT
10. – LUXURY MONTHLY MARKET REVIEW –
• Official Market Type: Seller's with a 23.62% Sales Ratio.1
• Homes are selling for an average of 98.49% of list price.
• The median luxury threshold2
price is $912,500, and the median luxury home sales price
is $1,301,250.
• Markets with the Highest Median Sales Price: Ft. Lauderdale ($4,350,000), Los Angeles
Beach Cities ($3,900,000), Los Angeles City ($3,500,000), and Vancouver ($3,488,000).
• Markets with the Highest Sales Ratio: East Bay, CA (92%), Cleveland Suburbs (84%),
Duluth, GA (71%), and Howard County, MD (71%).
1
Sales 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.
SINGLE-FAMILY HOMES
Median List Price $1,596,000 $1,597,500
Median Sale Price $1,276,250 $1,301,250
Median SP/LP Ratio 98.26% 98.49%
Total Sales Ratio 25.62% 23.62%
Median Price per Sq. Ft. $410 $406
Total Inventory 53,986 60,165
New Listings 16,234 18,846
Total Sold 13,832 14,209
Median Days on Market 22 24
Average Home Size 3,264 3,261
A Review of Key Market Differences Year over Year
October 2022 | October 2023
Median prices represent properties priced above respective city benchmark prices.
October 2023
October 2022 October 2023
October 2022
SINGLE-FAMILY HOMES MARKET SUMMARY | OCTOBER 2023
New Listings Total Sold
377
Med. Sale Price
$
25,000
2,612
Days on Market
2
Sales Ratio
2.00%
11. • Official Market Type: Seller's Market with a 20.80% Sales Ratio.1
• Attached homes are selling for an average of 98.87% of list price.
• The median luxury threshold2
price is $700,000, and the median attached luxury sale price
is $867,500.
• Markets with the Highest Median Sales Price: Ft. Lauderdale ($3,950,000), Vail
($2,947,500), San Francisco ($2,215,000), and Greater Boston ($2,202,000).
• Markets with the Highest Sales Ratio: Howard County, MD (164%), Anne Arundel County,
MD (85%), Morris County, NJ (84%), and East Bay, CA (83%).
1
Sales 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.
Median List Price $940,950 $964,000
Median Sale Price $870,000 $867,500
Median SP/LP Ratio 98.82% 98.87%
Total Sales Ratio 24.06% 20.80%
Median Price per Sq. Ft. $488 $487
Total Inventory 16,523 20,586
New Listings 5,420 7,029
Total Sold 3,975 4,282
Median Days on Market 24 21
Average Home Size 1,910 1,886
– LUXURY MONTHLY MARKET REVIEW –
Median prices represent properties priced above respective city benchmark prices.
A Review of Key Market Differences Year over Year
October 2022 | October 2023
October 2023
October 2022 October 2023
October 2022
ATTACHED HOMES MARKET SUMMARY | OCTOBER 2023
ATTACHED HOMES
New Listings
1,609
Total Sold
307
Med. Sale Price
$
2,500
Days on Market
3
Sales Ratio
3.26%
12. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW –
SINGLE-FAMILY HOMES
State Market Name
Median
List Price
Median
Sold Price Inventory
New
Listings Sold
Days on
Market
Market
Status
AB Calgary $1,149,900 $964,950 621 331 218 18 Seller's
AZ Chandler and Gilbert $1,059,407 $970,150 168 70 60 42 Seller's
AZ Flagstaff $1,625,000 $1,450,000 98 16 16 93 Balanced
AZ Mesa $850,000 $792,500 188 71 56 46 Seller's
AZ Paradise Valley $5,950,000 $3,087,200 152 41 22 33 Buyer's
AZ Phoenix $899,900 $815,000 804 298 259 34 Seller's
AZ Scottsdale $2,150,000 $1,750,000 812 261 154 39 Balanced
AZ Tucson $695,000 $680,000 901 304 237 17 Seller's
BC Mid Vancouver Island - - - - - - -
BC Okanagan Valley $1,789,000 $1,480,850 1024 244 48 72 Buyer's
BC Vancouver $4,288,000 $3,488,000 1244 331 73 21 Buyer's
BC Victoria $2,349,999 $2,050,000 197 79 18 35 Buyer's
BC Whistler $5,443,000 $3,173,500 66 22 6 33 Buyer's
CA Central Coast $2,800,000 $2,350,000 256 77 66 33 Seller's
CA East Bay $2,149,900 $1,905,000 340 176 314 12 Seller's
CA Greater Palm Springs $1,830,000 $1,600,000 445 195 57 23 Buyer's
CA Lake Tahoe $2,575,000 $1,812,500 205 43 56 43 Seller's
CA Los Angeles Beach Cities $5,719,500 $3,900,000 422 123 57 26 Buyer's
CA Los Angeles City $4,995,000 $3,500,000 727 256 87 19 Buyer's
CA Los Angeles The Valley $2,755,000 $2,302,500 676 253 140 38 Balanced
CA Marin County $3,795,000 $2,997,500 119 10 38 21 Seller's
CA Napa County $3,872,500 $1,995,000 152 14 23 52 Balanced
CA Orange County $3,000,000 $2,100,000 943 309 329 27 Seller's
CA Placer County $1,195,000 $1,030,000 281 96 85 29 Seller's
CA Sacramento $980,000 $900,000 645 244 254 15 Seller's
CA San Diego $2,495,000 $1,875,000 895 351 288 14 Seller's
CA San Francisco $4,575,000 $3,425,000 159 41 66 11 Seller's
CA San Luis Obispo County $1,774,500 $1,390,000 206 50 56 29 Seller's
CA Silicon Valley $4,512,500 $3,303,000 460 201 255 8 Seller's
CA Sonoma County $2,495,000 $1,872,000 277 33 51 39 Balanced
CA Ventura County $2,272,500 $1,750,000 256 79 73 51 Seller's
CO Aspen - - - - - - -
CO Boulder $2,097,500 $1,700,000 286 62 66 43 Seller's
CO Colorado Springs $944,000 $894,250 511 129 106 31 Balanced
CO Denver $1,675,000 $1,397,500 831 259 200 24 Seller's
CO Douglas County $1,325,000 $1,180,000 422 104 103 31 Seller's
CO Durango $1,450,000 $1,135,500 117 18 22 76 Balanced
CO Summit County $3,145,000 $2,265,846 70 13 10 83 Buyer's
CO Telluride $6,072,500 $1,625,000 90 9 5 87 Buyer's
13. – LUXURY MONTHLY MARKET REVIEW –
SINGLE-FAMILY HOMES
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
State Market Name
Median
List Price
Median
Sold Price Inventory
New
Listings Sold
Days on
Market
Market
Status
CO Vail $6,750,000 $3,450,000 81 9 9 64 Buyer's
CT Central Connecticut $699,000 $630,000 364 113 185 7 Seller's
CT Coastal Connecticut $2,324,000 $1,850,000 472 135 128 24 Seller's
DC Washington D.C. $3,899,500 $2,822,000 54 22 15 7 Seller's
DE Sussex County Coastal $1,570,000 $1,208,860 160 44 40 8 Seller's
FL Boca Raton/Delray Beach $2,697,000 $2,035,000 586 165 78 38 Buyer's
FL Brevard County $849,900 $750,000 463 133 101 16 Seller's
FL Broward County $1,699,000 $1,450,000 726 215 97 52 Buyer's
FL Coastal Pinellas County $2,250,000 $1,975,000 129 39 12 30 Buyer's
FL Ft. Lauderdale $4,950,000 $4,350,000 227 69 12 136 Buyer's
FL Jacksonville Beaches $1,320,000 $1,127,550 415 109 78 26 Balanced
FL Lee County $1,389,000 $1,250,000 910 268 82 34 Buyer's
FL Marco Island $2,750,000 $2,012,500 137 31 16 70 Buyer's
FL Miami $1,999,999 $1,425,000 1181 309 109 68 Buyer's
FL Naples $5,100,000 $3,150,000 451 80 26 45 Buyer's
FL Orlando $1,225,000 $1,157,000 887 261 178 20 Balanced
FL Palm Beach Towns $4,195,290 $1,577,500 316 79 18 23 Buyer's
FL Sarasota & Beaches $2,750,000 $2,000,000 455 116 40 78 Buyer's
FL South Pinellas County $1,459,000 $1,150,000 339 120 55 23 Balanced
FL South Walton $2,499,000 $2,054,975 623 120 64 41 Buyer's
FL Tampa $749,000 $694,900 1331 429 355 22 Seller's
GA Atlanta $1,637,000 $1,190,000 794 272 189 8 Seller's
GA Duluth $1,625,000 $1,425,000 14 8 10 7 Seller's
HI Island of Hawaii $1,975,000 $1,600,000 191 39 33 47 Balanced
HI Kauai $2,824,500 $2,250,000 76 15 5 28 Buyer's
HI Maui $3,375,000 $2,758,600 134 27 15 162 Buyer's
HI Oahu $2,895,000 $2,327,500 211 47 28 29 Buyer's
IA Greater Des Moines $650,000 $650,000 490 88 91 37 Balanced
ID Ada County $793,003 $770,000 660 231 211 16 Seller's
ID Northern Idaho - - - - - - -
IL Chicago $1,499,950 $1,238,000 690 242 205 23 Seller's
IL DuPage County $1,200,000 $927,450 255 84 108 24 Seller's
IL Lake County $1,292,400 $932,750 287 87 78 17 Seller's
IL Will County $699,000 $621,700 270 130 118 25 Seller's
IN Hamilton County $869,950 $824,250 186 58 94 7 Seller's
KS Johnson County $848,596 $825,000 524 78 117 3 Seller's
MA Cape Cod $2,395,000 $1,942,500 170 57 42 35 Seller's
MA Greater Boston $3,950,000 $3,037,500 185 60 32 28 Balanced
MA South Shore $1,872,500 $1,337,500 70 17 32 22 Seller's
14. – LUXURY MONTHLY MARKET REVIEW –
SINGLE-FAMILY HOMES
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
State Market Name
Median
List Price
Median
Sold Price Inventory
New
Listings Sold
Days on
Market
Market
Status
MD Anne Arundel County $1,027,495 $900,000 194 60 87 10 Seller's
MD Baltimore City $879,000 $806,500 23 8 14 5 Seller's
MD Baltimore County $1,099,990 $917,500 141 36 32 7 Seller's
MD Frederick County $885,000 $900,000 75 36 27 5 Seller's
MD Howard County $1,217,985 $1,079,220 59 23 42 7 Seller's
MD Montgomery County $2,074,450 $1,583,000 208 70 60 7 Seller's
MD Talbot County $2,790,000 $1,426,000 47 11 13 45 Seller's
MD Worcester County $1,099,950 $802,500 48 14 20 6 Seller's
MI Grand Traverse $1,175,829 $980,000 81 22 20 59 Seller's
MI Livingston County $762,500 $670,000 108 28 28 23 Seller's
MI Monroe County $675,000 $600,000 21 5 7 41 Seller's
MI Oakland County $795,000 $650,000 794 295 237 13 Seller's
MI Washtenaw County $949,000 $790,000 147 36 39 15 Seller's
MI Wayne County $779,500 $620,000 182 69 79 10 Seller's
MN Olmsted County $822,200 $821,500 84 17 21 34 Seller's
MN Twin Cities $1,232,500 $1,000,000 834 233 189 25 Seller's
MO Kansas City $699,950 $672,988 1388 254 355 6 Seller's
MO St. Louis $829,900 $653,000 137 46 74 8 Seller's
NC Asheville $1,011,500 $875,000 314 82 86 19 Seller's
NC Charlotte $1,200,000 $900,000 578 208 283 9 Seller's
NC Lake Norman $1,299,000 $995,000 195 58 91 22 Seller's
NC Raleigh-Durham $1,195,000 $960,000 524 152 181 6 Seller's
NH Rockingham County $1,625,000 $1,700,000 85 34 21 10 Seller's
NJ Bergen County $2,299,900 $1,640,000 237 60 48 22 Balanced
NJ Hudson County $1,499,000 $1,401,500 28 14 6 14 Seller's
NJ Morris County $1,600,000 $1,415,000 127 40 39 18 Seller's
NJ Ocean County $979,900 $856,000 467 146 158 26 Seller's
NM Taos $1,277,000 $1,050,000 74 10 7 42 Buyer's
NV Lake Tahoe $3,695,000 $3,175,000 127 15 23 89 Balanced
NV Las Vegas $1,790,000 $1,300,000 628 176 91 27 Buyer's
NV Reno $1,962,500 $1,759,950 152 29 24 87 Balanced
NY Finger Lakes $1,595,000 $1,200,000 31 6 9 25 Seller's
NY Nassau County $1,848,500 $1,500,000 640 162 148 44 Seller's
NY Staten Island $1,190,944 $1,240,000 140 37 25 49 Balanced
NY Suffolk County $1,900,000 $1,325,000 958 212 157 36 Balanced
OH Cincinnati - - - - - - -
OH Cleveland Suburbs $849,000 $681,500 31 18 26 33 Seller's
OH Columbus $860,000 $749,900 551 181 217 8 Seller's
ON GTA - Durham $1,704,000 $1,570,000 306 182 47 13 Balanced
15. – LUXURY MONTHLY MARKET REVIEW –
SINGLE-FAMILY HOMES
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
State Market Name
Median
List Price
Median
Sold Price Inventory
New
Listings Sold
Days on
Market
Market
Status
ON GTA - York $2,399,900 $1,950,000 828 462 132 16 Balanced
ON Hamilton $1,900,000 $1,599,900 313 144 29 24 Buyer's
ON Mississauga $2,895,000 $2,900,000 209 114 24 29 Buyer's
ON Oakville $2,988,800 $2,200,000 205 108 25 18 Buyer's
ON Toronto $3,796,500 $3,100,000 686 357 85 12 Buyer's
ON Waterloo Region $1,399,000 $1,300,000 253 144 56 15 Seller's
OR Portland $1,277,995 $1,129,995 817 199 163 27 Balanced
SC Charleston $1,750,000 $1,521,220 532 173 146 12 Seller's
SC Hilton Head $1,985,000 $1,597,500 276 71 68 27 Seller's
SC The Grand Strand $875,500 $819,500 414 120 84 62 Balanced
TN Greater Chattanooga $924,000 $892,500 241 58 52 19 Seller's
TN Knoxville $993,800 $865,000 170 57 57 21 Seller's
TN Nashville $1,799,900 $1,302,500 940 298 216 20 Seller's
TX Austin $1,245,000 $1,003,750 1266 322 232 50 Balanced
TX Collin County $751,569 $709,990 1344 500 427 25 Seller's
TX Dallas $1,350,000 $1,181,460 596 227 165 13 Seller's
TX Denton County $795,900 $745,000 1157 394 279 27 Seller's
TX El Paso $635,000 $575,000 231 51 25 17 Buyer's
TX Fort Worth $899,999 $765,000 1088 353 299 18 Seller's
TX Greater Tyler $697,000 $812,260 264 76 27 11 Buyer's
TX Houston $974,975 $913,000 1208 433 218 18 Balanced
TX Lubbock $650,000 $667,500 175 68 28 79 Balanced
TX San Angelo $675,000 $645,000 70 14 6 62 Buyer's
TX San Antonio $799,000 $740,000 795 191 131 35 Balanced
TX The Woodlands & Spring $825,000 $675,000 255 85 68 11 Seller's
UT Park City $4,450,000 $2,897,500 185 48 44 40 Seller's
UT Salt Lake City $1,199,000 $1,014,990 564 155 135 41 Seller's
UT Washington County $1,382,500 $1,402,500 226 61 18 56 Buyer's
VA Arlington & Alexandria $2,087,475 $1,945,000 106 42 30 13 Seller's
VA Charlottesville $1,300,000 $1,217,500 149 48 32 15 Seller's
VA Fairfax County $2,149,500 $1,502,500 346 106 110 6 Seller's
VA McLean & Vienna $2,777,000 $1,900,000 157 48 40 6 Seller's
VA Richmond $839,950 $780,000 409 117 144 7 Seller's
VA Smith Mountain Lake $1,749,975 $1,500,000 46 11 10 14 Seller's
WA King County $1,995,000 $1,655,000 880 337 376 8 Seller's
WA Seattle $1,900,000 $1,598,500 249 96 94 6 Seller's
WA Spokane $1,125,000 $959,000 171 54 23 18 Buyer's
16. – LUXURY MONTHLY MARKET REVIEW –
ATTACHED HOMES
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian
cites are shown in Canadian Dollars.
State Market Name
Median
List Price
Median
Sold Price Inventory
New
Listings Sold
Days on
Market
Market
Status
AB Calgary $799,000 $670,000 182 92 60 20 Seller's
AZ Chandler and Gilbert - - - - - - -
AZ Flagstaff - - - - - - -
AZ Mesa - - - - - - -
AZ Paradise Valley - - - - - - -
AZ Phoenix - - - - - - -
AZ Scottsdale $850,000 $797,500 229 70 58 21 Seller's
AZ Tucson - - - - - - -
BC Mid Vancouver Island - - - - - - -
BC Okanagan Valley - - - - - - -
BC Vancouver $1,899,000 $1,620,000 1136 430 97 10 Buyer's
BC Victoria $979,000 $904,900 199 108 34 32 Balanced
BC Whistler $2,495,000 $2,170,000 57 13 3 113 Buyer's
CA Central Coast $1,199,500 $1,375,000 52 13 15 25 Seller's
CA East Bay $1,148,500 $1,126,500 126 65 104 10 Seller's
CA Greater Palm Springs - - - - - - -
CA Lake Tahoe $1,740,000 $1,230,000 43 12 8 18 Balanced
CA Los Angeles Beach Cities $1,950,000 $1,599,000 175 67 53 13 Seller's
CA Los Angeles City $1,750,000 $1,442,500 431 148 54 19 Buyer's
CA Los Angeles The Valley $799,950 $807,500 137 67 68 35 Seller's
CA Marin County $1,197,000 $1,079,000 36 12 17 21 Seller's
CA Napa County - - - - - - -
CA Orange County $1,290,000 $1,100,000 341 143 184 20 Seller's
CA Placer County - - - - - - -
CA Sacramento - - - - - - -
CA San Diego $1,277,000 $1,010,000 365 178 163 11 Seller's
CA San Francisco $2,795,000 $2,215,000 135 18 21 20 Balanced
CA San Luis Obispo County - - - - - - -
CA Silicon Valley $1,724,000 $1,630,000 110 64 73 9 Seller's
CA Sonoma County $834,182 $715,000 20 3 10 33 Seller's
CA Ventura County $775,000 $735,000 110 40 33 43 Seller's
CO Aspen - - - - - - -
CO Boulder $993,500 $920,000 81 27 15 46 Balanced
CO Colorado Springs $550,000 $642,000 41 6 7 11 Balanced
CO Denver $882,000 $865,000 182 52 45 22 Seller's
CO Douglas County $589,000 $587,500 33 17 12 11 Seller's
CO Durango $793,905 $825,000 32 5 13 67 Seller's
CO Summit County $1,275,000 $1,350,000 25 8 7 9 Seller's
CO Telluride $2,525,000 $1,075,000 31 4 13 75 Seller's
17. – LUXURY MONTHLY MARKET REVIEW –
ATTACHED HOMES
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian
cites are shown in Canadian Dollars.
State Market Name
Median
List Price
Median
Sold Price Inventory
New
Listings Sold
Days on
Market
Market
Status
CO Vail $4,000,000 $2,947,500 67 8 16 25 Seller's
CT Central Connecticut - - - - - - -
CT Coastal Connecticut $949,000 $757,750 99 25 54 35 Seller's
DC Washington D.C. $1,912,450 $1,585,000 268 83 49 9 Balanced
DE Sussex County Coastal $1,150,000 $1,076,101 31 11 11 6 Seller's
FL Boca Raton/Delray Beach $1,075,000 $667,000 432 124 63 14 Buyer's
FL Brevard County $699,000 $693,000 211 46 33 33 Balanced
FL Broward County $699,000 $581,740 858 215 91 41 Buyer's
FL Coastal Pinellas County $1,250,000 $1,098,000 193 60 30 21 Balanced
FL Ft. Lauderdale $2,500,000 $3,950,000 170 42 9 88 Buyer's
FL Jacksonville Beaches $1,199,500 $985,000 60 23 19 26 Seller's
FL Lee County $862,500 $815,152 520 161 52 33 Buyer's
FL Marco Island $1,675,000 $1,505,000 57 16 7 43 Buyer's
FL Miami $1,499,000 $1,187,500 1590 340 98 95 Buyer's
FL Naples $2,350,000 $1,800,000 354 118 35 30 Buyer's
FL Orlando $559,900 $549,935 323 84 50 32 Balanced
FL Palm Beach Towns $1,892,500 $1,800,000 300 115 37 16 Buyer's
FL Sarasota & Beaches $1,599,950 $1,312,500 310 80 44 34 Buyer's
FL South Pinellas County $1,075,000 $1,386,561 323 167 101 0 Seller's
FL South Walton $1,292,500 $1,820,438 230 49 26 11 Buyer's
FL Tampa $939,450 $734,320 254 73 44 23 Balanced
GA Atlanta $724,950 $654,750 596 196 128 18 Seller's
GA Duluth - - - - - - -
HI Island of Hawaii $2,800,000 $1,550,000 33 6 9 38 Seller's
HI Kauai $1,750,000 $1,600,000 35 7 9 8 Seller's
HI Maui $1,899,950 $1,902,925 110 30 24 191 Seller's
HI Oahu $1,134,000 $989,400 472 132 94 22 Balanced
IA Greater Des Moines - - - - - - -
ID Ada County $635,000 $645,785 61 20 6 56 Buyer's
ID Northern Idaho - - - - - - -
IL Chicago $1,199,450 $935,541 792 260 148 49 Balanced
IL DuPage County $687,450 $625,000 30 11 13 15 Seller's
IL Lake County - - - - - - -
IL Will County - - - - - - -
IN Hamilton County - - - - - - -
KS Johnson County $640,962 $631,443 152 17 37 22 Seller's
MA Cape Cod $1,072,500 $830,500 48 15 16 22 Seller's
MA Greater Boston $2,375,000 $2,202,000 417 131 62 28 Buyer's
MA South Shore $796,650 $914,500 16 11 11 23 Seller's
18. – LUXURY MONTHLY MARKET REVIEW –
ATTACHED HOMES
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian
cites are shown in Canadian Dollars.
State Market Name
Median
List Price
Median
Sold Price Inventory
New
Listings Sold
Days on
Market
Market
Status
MD Anne Arundel County $574,495 $594,845 66 28 56 9 Seller's
MD Baltimore City $687,500 $620,000 102 23 25 11 Seller's
MD Baltimore County $639,900 $535,000 25 7 2 7 Buyer's
MD Frederick County - - - - - - -
MD Howard County $604,945 $625,000 28 20 46 5 Seller's
MD Montgomery County $785,098 $757,495 76 33 46 8 Seller's
MD Talbot County - - - - - - -
MD Worcester County $675,000 $582,500 103 37 28 9 Seller's
MI Grand Traverse - - - - - - -
MI Livingston County - - - - - - -
MI Monroe County - - - - - - -
MI Oakland County $689,500 $650,000 65 22 23 19 Seller's
MI Washtenaw County $689,900 $603,500 55 15 14 15 Seller's
MI Wayne County $679,617 $600,000 81 19 13 9 Balanced
MN Olmsted County - - - - - - -
MN Twin Cities - - - - - - -
MO Kansas City - - - - - - -
MO St. Louis - - - - - - -
NC Asheville $750,000 $687,500 49 12 16 7 Seller's
NC Charlotte $650,000 $657,770 244 96 86 10 Seller's
NC Lake Norman $599,900 $617,500 31 9 9 91 Seller's
NC Raleigh-Durham - - - - - - -
NH Rockingham County $932,400 $850,000 52 19 15 5 Seller's
NJ Bergen County $1,250,000 $1,115,500 146 47 30 28 Balanced
NJ Hudson County $1,375,000 $1,262,500 150 61 30 11 Balanced
NJ Morris County $699,999 $689,950 55 31 46 14 Seller's
NJ Ocean County $989,500 $773,000 66 20 28 33 Seller's
NM Taos - - - - - - -
NV Lake Tahoe $1,490,000 $1,190,000 19 5 3 36 Balanced
NV Las Vegas - - - - - - -
NV Reno - - - - - - -
NY Finger Lakes - - - - - - -
NY Nassau County $1,637,500 $1,320,000 82 10 22 68 Seller's
NY Staten Island $636,944 $582,500 92 24 20 28 Seller's
NY Suffolk County $865,000 $645,000 107 45 64 26 Seller's
OH Cincinnati - - - - - - -
OH Cleveland Suburbs - - - - - - -
OH Columbus $729,900 $675,000 109 24 31 4 Seller's
ON GTA - Durham $811,995 $870,000 42 32 11 13 Seller's
19. – LUXURY MONTHLY MARKET REVIEW –
ATTACHED HOMES
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian
cites are shown in Canadian Dollars.
State Market Name
Median
List Price
Median
Sold Price Inventory
New
Listings Sold
Days on
Market
Market
Status
ON GTA - York $818,400 $750,000 418 246 67 21 Balanced
ON Hamilton $919,900 $895,000 53 23 4 22 Buyer's
ON Mississauga $999,000 $920,000 185 103 23 21 Buyer's
ON Oakville $1,239,500 $1,065,000 32 15 7 16 Seller's
ON Toronto $1,219,000 $1,128,000 1305 675 149 16 Buyer's
ON Waterloo Region $761,750 $805,000 63 26 15 14 Seller's
OR Portland $699,000 $609,495 265 78 48 19 Balanced
SC Charleston $1,274,500 $1,155,000 122 45 36 4 Seller's
SC Hilton Head $1,049,500 $949,750 36 9 6 15 Balanced
SC The Grand Strand $549,900 $560,000 301 85 55 56 Balanced
TN Greater Chattanooga - - - - - - -
TN Knoxville - - - - - - -
TN Nashville $749,000 $650,000 273 73 66 9 Seller's
TX Austin $825,000 $717,500 407 110 25 42 Buyer's
TX Collin County - - - - - - -
TX Dallas $699,950 $655,000 222 72 43 45 Balanced
TX Denton County - - - - - - -
TX El Paso - - - - - - -
TX Fort Worth - - - - - - -
TX Greater Tyler - - - - - - -
TX Houston $599,000 $563,500 127 54 36 6 Seller's
TX Lubbock - - - - - - -
TX San Angelo - - - - - - -
TX San Antonio $717,450 $558,300 40 9 1 138 Buyer's
TX The Woodlands & Spring - - - - - - -
UT Park City $1,720,500 $1,875,000 92 29 27 23 Seller's
UT Salt Lake City $644,990 $589,000 175 50 46 39 Seller's
UT Washington County - - - - - - -
VA Arlington & Alexandria $1,049,900 $960,000 107 48 48 8 Seller's
VA Charlottesville $599,900 $561,368 51 18 19 3 Seller's
VA Fairfax County $799,500 $705,000 160 101 132 8 Seller's
VA McLean & Vienna $1,253,950 $950,000 22 10 15 12 Seller's
VA Richmond $588,530 $595,119 101 37 30 6 Seller's
VA Smith Mountain Lake - - - - - - -
WA King County $1,199,800 $1,030,000 313 97 93 17 Seller's
WA Seattle $1,357,500 $1,225,000 150 39 34 41 Seller's
WA Spokane - - - - - - -