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.
October’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 number of sales, year to date, as they compare to the full years of 2019 and 2020.
We also look at several trends in property types currently being purchased to ascertain which are seeing the highest demand.
Additionally, we’ll share with you seven key takeaways regarding the state of the North American luxury real estate market — including insights on the number of sales, demand for homes priced $1-5 million and $5 million +, and the increased values of median sold prices for luxury single family and attached homes, just to name a few.
These takeaways tell us about the current market, as well as the expectations by the end of 2021.
Overall, you’ll discover how the current real estate market together with our way of life are changing the momentum of buyer demand and which property types are trending this Fall. As we look at the data, we’ll explore the reasons for these choices, and how they are impacting how we live, play and work.
As always, it is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities, 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 realtor 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!