The Institute’s Luxury Market Report is your guide to an analysis on the trends and comparative data on the top-residential markets throughout Canada and the United States.
July’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend.
This month we review the first six months of the luxury real estate market during 2021. We consider both ongoing and new trends, compare predictions at the start of the year against the reality of the last six months, and examine future expectations.
We discover if predictions at the start of the year remained on target, or if there were a few surprises. Plus, we examine where we stand currently with respect to inventory levels versus the number of sales.
In addition to single-family homes, we also analyze the attached property market, which prior to the pandemic had been on trend to be the lifestyle of choice, with people moving back to enjoy the city and/or downsizing into smaller spaces.
We review the changes that have occurred in the attached market with respect to townhomes, low-rise, and high-rise apartments – and we examine insight into who is buying these properties.
Finally, this month’s report explores how COVID-19 created a huge focus on how homes are built and valued. This brings us to discover how the wealthy are influencing new expectations in the housing industry. Remember, it is important to understand the art of selling and buying should always include an analytical approach to truly understand the reality of the market, rather than just listening to the market rhetoric.
For homeowners looking to sell or buy their luxury home in today’s market, we recommend working with a luxury real estate professional who can provide you with critical knowledge about your local market, maintain a high level of security and safety during the process, and who knows how to leverage technology and strategies to provide maximum exposure and assistance.
Get exclusive insights into the upper-tier real estate market at one of The Institute for Luxury Home Marketing’s live or online training sessions. Enroll today.