The Institute’s Luxury Market Report is your guide to analyzing 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 and the 13-month trend.
This month we review the last six months to understand how the luxury real estate market has changed and reveal any new trends expected to impact buyer decisions as we move forward.
Historically, the start of 2022 was one of the strongest markets on record for the luxury market. Even though experts predicted that we would see a slowing down, we analyze when and what were contributors to change at the end of March 2022.
Discover why homeowners, who previously had been wary of putting their homes on the market, now felt that the market was more favorable.
We analyze the data from April, May, and June, comparing month-over-month as well as against March 2022 and then year-over-year to discover the changes in inventory, sales, and price levels to help us understand the significance of this changing market.
Find out why most of the analyzed markets remain seller’s markets despite rising inventory levels and why you shouldn’t expect to see prices plummet any time soon.
We take a broad look at which markets are seeing increased demand and which are experiencing softening – the results may surprise you.
Over the next few months, real estate investors should expect a bumpier ride. However, long-term expectations are that homeownership still offers the most consistency as an investment – financially and as a secure haven for your family.
It is essential 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 homes 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!