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.
November’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 significance of the unprecedented trend where demand is outpacing the supply of new inventory entering the market and its impacts on buyers.
We share and compare the statistics for September and October’s inventory against sold data in both 2020 and 2021 to showcase the significance of the declining inventory levels.
We recognize that while supply and demand levels are not consistent across North America, and there are markets, property types, and price points that have available inventory, for the most part, buyers will need to understand that purchasing a home will still be challenging.
Discover how buyers are ready to compromise on their priorities, especially against luxury properties that seemingly have reached the height of their market value, when sellers are not willing to negotiate.
We also investigate some of the main reasons why the affluent are willing to change their requirements – whether it’s the type of home, its location, or the price.
Due to the lack of supply and increasing demand, especially from new affluent buyers entering the market, we identify the opportunity for developers, builders, and investors.
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 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!