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.
The main question reviewed this month: “Where is the luxury real estate market headed?”
Media hype, expert opinions, and contradictions within the market itself have been causing confusion and creating a lot of uncertainty. We look at both the real estate market and influences outside the industry to better understand why there is also so much disparity between markets, price points, and property types.
Is it still a seller’s market despite the analysis showing that at least 65% of single-family home markets and 80% attached property markets’ data proves that, as of the end of September, the overall luxury real estate market is still favorable to sellers?
Or does diving a little deeper into the data show a different story and a definite transition toward a balanced or even a buyer’s market?
We investigate some of the parameters indicating that there is a downward trajectory, as well as those that might halt or reverse this trend. We evaluate how buyers and sellers themselves, as well as their purchases over the last two years, are having a significant influence on the current market.
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 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!