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.
June’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 look at the key drivers controlling the luxury real estate market.
We review how the gradual alignment of influential factors has led to a perfect storm of high demand in the luxury segment and whether there are any significant factors that may cause this demand to slow in future months.
We investigate current supply and demand trends, as well as the divergence of statistical data and why the difference between the median list price for properties remaining on the market against the selling prices for sold properties is becoming increasingly larger.
The report will help you understand why the drivers of supply are as important as those of demand and how they are both contributing to a lack of inventory as well as the high demand for luxury properties.
Taking a deeper dive into these key drivers we discover which affluent demographics are currently causing the most significant changes in the purchase and sale of properties.
Equally we find out why factors such as increased savings, low interest rates, high yielding stock markets, and rising costs for building materials are all impacting the demand and supply chains.
It is important that the art of selling and buying always includes 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 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!