Institute for Luxury Home Marketing - Luxury Marketing Report April 2020

LU X U RY MARKET RE P O R T - April 2020 -

www.LuxuryHomeMarketing.com

THIS IS YOUR

LUXURY MARKET REPORT 

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MAP OF LUXURY RESIDENTIAL MARKETS

W

elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report

provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.

Copyright © 2020 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.

– LUXURY REPORT EXPLAINED – The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report.

Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes.

It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well.

Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.

By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher.

A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.

REPORT GLOSSARY REMAINING INVENTORY: The total number of homes available at the close of a month.

DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.

LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes.

NEW LISTINGS: The number of homes that entered the market during the current month.

PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.

SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory.

SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.

“‘The demand to stay at home hasn’t stopped the sale of properties, rather its seems to have given homeowners and realtors the time and opportunity to reassess; resulting in a better understanding of how to adjust, learn, and then make the appropriate changes during this fluid situation.’ states Diane Hartley, president of The Institute for Luxury Home Marketing.”

NORTH AMERICAN LUXURY REVIEW The Institute for Luxury Home Marketing recognizes the ongoing coronavirus pandemic and its effects both on human life and the economy as these impacts are being felt by every single individual.

Traditionally at this time, we would offer an in-depth report on the status of the luxury real estate market for the first quarter of the year and reviewing whether forecasts made at the end of 2019 and beginning of 2020 are being realized.

Indeed, in looking at the figures during the first quarter of 2020, the luxury market overall reported a strong start to the year. Even though the World Health Organization announced the global pandemic on March 11th, properties were still being bought and sold at an increasing rate until the end of March, which typified a normal growth at the start of the spring market.

According to Realtor.com’s Chief Economist Danielle Hale, who stated during her recent interview with RIS Media, “A low interest rate environment combined with flourishing economy and recordsetting stock markets pushed luxury sales into the double digits for the first time as 2019 came to an end.�

By the end of 2019, million-dollar sales had increased by 11.4 percent year-over-year and the entry point for luxury increased 2.1 percent to $1.27 million. Hale recognized that this trend continued well in to March 2020, as buyers took advantage of the opportunity to lock in low rate mortgages, as well as high levels of luxury inventory that gave them plenty of options.

At the end of the 1st Quarter 2020, the single-family luxury market numbers were trending upwards with median sale price increasing from $1.315 million at the close of December to $1.32 million in March. Equally, the sales price to list price ratio trended from 96.8% to 97.6% and average days on market dropped from 60 to 39 days.



1.32M

$

Med. Sale Price





SP/LP Ratio

Days on Market

97.6%

39

In the attached market, the luxury market was also seeing growth with median sales price increasing from $912,500 in December to $923,500 in March. The sales price to list price ratio trended from 97.9% to 98.6% and average days on market dropped slightly from 44 to 42.



923K

$

Med. Sale Price





SP/LP Ratio

Days on Market

98.6%

42

Since the last week of March, all indicators now show that the real estate market has started slowed down. Experts are predicting a 30-35% drop in inventory for April, compared to last year.

However, currently there has been little signs of panic selling and property prices are remaining fairly steady.

“The demand to stay at home hasn’t stopped the sale of properties, rather its seems to have given homeowners and realtors the time and opportunity to reassess; resulting in a better understanding of how to adjust, learn, and then make the appropriate changes during this fluid situation.” states Diane Hartley, president of The Institute for Luxury Home Marketing.

The Institute’s members report that they are seeing reactions across the board; from those determined to move forward to others removing themselves from the real estate market entirely.

Some who have been caught in mid-transaction are agreeing to put their contracts on hold or moving their completion date, which helps both the buyers and sellers complete the deal without the requirement of having to move home at this critical time.

In a recent interview with RIS Media, Hartley stated that “The biggest thing we are telling our members to do is to continue to be a source of information and stability for both their clients and their community. Use this time to deepen relationships and create new ones. This is a time to give as much as possible!”

Members are also reporting that during this transition period they are learning how to pivot their business by using more technology and virtual methods. Tech savvy homeowners and buyers are able to adapt fairly quickly while others are having to learn the process.

Technology is allowing Realtors, lenders, and buyers to move forward, from digital mortgage approvals to being able to sign contracts and even visit the property virtually — a decade ago this situation would have shut down the housing market completely. One clear difference is that most contracts are now including a coronavirus addendum to allow greater flexibility in their timelines and contingencies.

Realtors are upgrading their technology to provide 3D tours, videos, and live streaming for promotional purposes as well as touring the property. Video tours with music or featuring the Realtor explaining the aspects of the home are proving highly popular and replacing open houses.

Potential buyers are having their Realtor walk through house with a video conference program so that they can ask specific questions and look at all the aspects of the home. Obviously both the sellers and the Realtors involved are expected to take the necessary precautions and follow recommended hygiene etiquette. This method is also being used by home inspectors.

In some cases, existing technology with little previous visibility is now coming into the spotlight.

In one example, software to allow appraisers to perform virtual inspections has been available for some time and even includes fraud protection. With recent shelter in place orders and cooperation with all parties, these services can continue to be completed and help transactions move forward.

One area that remains challenging is the closing of the real estate contract. It seems that remote online notarization varies in accordance with local rules and regulations. In some locations, digital closings are already approved and part of their daily methodology, in others in person signing and witnessing is mandatory. As the pandemic continues, we will surely see changes and a move to online approval the longer we maintain social distancing practices.

One thing that can almost be guaranteed is that the ingenuity of realtors and associated service providers, who will surely only be limited by technology’s current abilities and local legislation. All indications are that this situation will have a lasting impact on how real estate transactions will be conducted in the future.

– 13 - MONTH MARKET TRENDS – FOR THE LUXURY NORTH AMERICAN MARKET

Single-Family Homes

Attached Homes

Single-Family List Price

Attached List Price

All data is based off median values. Median prices represent properties priced above respective city benchmark prices.

80

DAYS ON MARKET

68 60

60

53 46 40

48

39

38

40

35

35

35

APR

MAY

43

36

52

49

47

40

38

AUG

SEP

59

39

49

49

JAN

FEB

44

39 42

32

20

0 MAR

JUN

JUL

OCT

NOV

DEC

MAR

SALES PRICE VS. LIST PRICE

$523 $357

$497 $372

$495 $372

$491 $375

$522 $360

$511 $373

$361

$494

$501 $337

$501 $338

$372

$474 $357

$300

$382

$470

$400

$498

$537

$500

$371

PRICE PER SQUARE FOOT

$600

$200

$100

$0

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

FEB

MAR

$1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

Discrepancies between statistics published between the March 2020 and April 2020 Luxury Market Reports are due to the addition of Mountain Communities, CO, Island of Hawaii, HI, and Oakville, ON.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month February 2020 | March 2020

SINGLE-FAMILY HOMES February

March

February

March

40,645

41,441

Median List Price

$1,650,000 $1,650,000

Total Inventory

Median Sale Price

$1,400,000 $1,320,000

New Listings

11,775

11,670

5,868

8,150

59

39

3,589

3,561

Median SP/LP Ratio

97.20%

97.58%

Total Sold

Total Sales Ratio

14.44%

19.67%

Median Days on Market

$372

$357

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





105

2,282

New Listings

Total Sold





21

5.23%

Med. Sale Price

Days on Market

Sales Ratio

80,000

$



SINGLE-FAMILY HOMES MARKET SUMMARY | MARCH 2020 •

Official Market Type: Balanced Market with a 19.58% Sales Ratio.1

•

Homes are selling for an average of 97.58% of list price.

•

The median luxury threshold2 price is $942,500, and the median luxury home sales price is $1,320,000.

•

Markets with the Highest Median Sales Price: Vail ($3,982,500), Santa Barbara ($3,450,000), LA - Beach Cities ($3,443,444), and Vancouver ($3,235,000).

•

Markets with the Highest Sales Ratio: San Francisco (82%), East Bay (71%), Seattle (71%), and Silicon Valley (57%).

1

Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month February 2020 | March 2020

ATTACHED HOMES February

Median List Price Median Sale Price

March

$1,049,900 $1,049,900 $920,500

$923,500

Median SP/LP Ratio

98.22%

98.60%

Total Sales Ratio

15.38%

18.13%

$497

$523

Median Price per Sq. Ft.

February

March

Total Inventory

16,141

16,269

New Listings

4,502

4,138

Total Sold

2,482

2,949

49

42

1,996

1,994

Median Days on Market Average Home Size

Median prices represent properties priced above respective city benchmark prices.







 Days on Market

3,000

364

467

$

New Listings

Total Sold

Med. Sale Price

7



2.75% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | MARCH 2020 •

Official Market Type: Balanced Market with a 15.39% Sales Ratio.1

•

Attached homes are selling for an average of 98.60% of list price.

•

The median luxury threshold2 price is $685,000, and the median attached luxury sale price is $923,500.

•

Markets with the Highest Median Sales Price: Vail ($2,900,000), San Francisco ($2,250,000), Naples ($2,200,000), and Park City ($2,102,500).

•

Markets with the Highest Sales Ratio: Silicon Valley (109%), GTA-Durham (107%), East Bay (106%), and Arlington and Alexandria (82%).

1

Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$1,130,000

$960,000

608

188

64

37

Buyer's

AZ

Paradise Valley

$3,045,000

$2,650,000

216

31

23

45

Buyer's

AZ

Phoenix

$747,000

$620,000

692

269

255

45

Seller's

AZ

Scottsdale

$1,750,000

$1,345,000

776

151

145

69

Balanced

AZ

Tucson

$750,000

$645,000

672

160

158

21

Seller's

BC

Okanagan Valley

$1,597,000

$1,190,000

242

53

5

192

Buyer's

BC

Vancouver

$4,188,000

$3,235,000

868

206

66

16

Buyer's

BC

Victoria

$1,888,800

$1,400,000

343

102

42

29

Buyer's

CA

Central Coast

$2,950,000

$2,616,250

267

55

34

94

Buyer's

CA

East Bay

$2,199,444

$1,916,000

250

138

177

12

Seller's

CA

Los Angeles Beach Cities

$4,797,500

$3,443,444

364

74

56

27

Balanced

CA

Los Angeles City

$4,465,000

$3,025,000

775

181

137

39

Balanced

CA

Los Angeles The Valley

$2,200,000

$1,850,000

474

145

117

28

Seller's

CA

Marin County

$3,895,000

$2,955,000

71

16

18

25

Seller's

CA

Napa County

$2,972,500

$2,075,000

114

19

12

77

Buyer's

CA

Orange County

$2,495,000

$1,816,500

1,158

314

280

34

Seller's

CA

Palm Springs/Palm Desert

$1,827,450

$1,600,000

482

70

73

66

Balanced

CA

Placer County

$999,000

$892,000

187

69

46

8

Seller's

CA

Sacramento

$779,000

$690,000

628

296

308

10

Seller's

CA

San Diego

$2,195,000

$1,704,445

949

312

264

27

Seller's

CA

San Francisco

$4,198,000

$3,183,250

49

13

40

13

Seller's

CA

San Luis Obispo County

$1,595,000

$1,296,500

198

39

26

CA

Santa Barbara

$3,995,000

$3,450,000

230

48

22

11

Buyer's

CA

Silicon Valley

$3,988,000

$3,000,000

217

96

123

9

Seller's

CA

Ventura County

$1,949,000

$1,610,000

343

88

65

66

Balanced

CO

Boulder

$1,750,000

$1,337,500

197

71

54

46

Seller's

CO

Colorado Springs

$779,000

$677,888

295

114

112

16

Seller's

CO

Denver

$968,650

$815,000

1,084

514

449

9

Seller's

CO

Douglas County

$1,252,450

$967,000

284

106

63

38

Seller's

Buyer's

Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

CO

Durango

$1,420,000

$1,062,500

95

15

6

411

Buyer's

CO

Mountain Communities

$1,769,500

$1,288,270

52

9

4

97

Buyer's

CO

Vail

$4,895,000

$3,982,500

111

9

2

556

Buyer's

CT

Central Connecticut

$639,450

$625,000

426

92

37

55

Buyer's

CT

Coastal Connecticut

$1,699,000

$1,377,500

1,269

244

94

101

Buyer's

DC

Washington D.C.

$3,497,500

$2,050,000

50

12

9

4

Balanced

FL

Boca Raton/Delray Beach

$2,399,900

$1,706,250

547

83

58

81

Buyer's

FL

Coastal Pinellas Towns

$1,650,000

$1,362,500

85

17

12

66

Buyer's

FL

Greater Fort Lauderdale

$1,299,999

$930,000

1,507

272

180

81

Buyer's

FL

Jacksonville Beaches

$1,250,000

$1,131,250

348

76

38

72

Buyer's

FL

Miami

$1,299,999

$1,100,000

1,383

203

83

119

Buyer's

FL

Naples

$2,397,000

$1,925,000

792

101

113

98

Buyer's

FL

Orlando

$1,550,000

$1,410,550

446

75

54

106

Buyer's

FL

Palm Beach Towns

$3,292,500

$1,725,000

392

42

32

94

Buyer's

FL

Sarasota & Beaches

$1,750,000

$1,325,000

606

61

53

33

Buyer's

FL

Tampa

$769,000

$666,125

775

212

160

28

Balanced

GA

Atlanta

$1,179,000

$1,005,000

1,207

363

169

23

Buyer's

HI

Island of Hawaii

$1,999,999

$1,798,750

165

20

14

114

Buyer's

HI

Kauai

$2,574,000

$1,200,000

110

10

13

101

Buyer's

HI

Maui

$3,200,000

$2,311,200

181

14

15

135

Buyer's

HI

Oahu

$3,248,500

$2,300,000

242

28

13

130

Buyer's

ID

Ada County

$774,900

$747,000

285

149

111

12

Seller's

ID

Northern Idaho

$899,000

$695,000

323

109

46

68

Buyer's

IL

Chicago

$1,249,000

$1,046,250

1,618

449

240

133

Buyer's

IN

Hamilton County

$767,450

$681,070

248

82

66

60

Seller's

MA

Greater Boston

$3,325,000

$2,450,000

111

28

23

18

Balanced

MD

Anne Arundel County

$950,000

$957,000

269

83

59

33

Seller's

MD

Montgomery County

$1,749,000

$1,320,000

256

91

53

21

Balanced

MD

Talbot County

$1,795,000

$1,250,000

96

23

4

213

Buyer's

Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

MD

Worcester County

$949,900

$860,000

55

10

4

127

Buyer's

MI

Oakland County

$749,900

$615,000

865

267

139

39

Balanced

MO

St. Louis

$739,000

$728,750

173

71

48

43

Seller's

NC

Charlotte

$949,500

$750,000

763

231

229

13

Seller's

NC

Raleigh-Durham

$725,000

$656,250

915

268

244

0

Seller's

NJ

Ocean County

$875,000

$775,000

650

135

63

76

Buyer's

NV

Las Vegas

$729,000

$630,000

1,545

482

322

39

Balanced

NV

Reno

$1,349,500

$1,348,125

108

26

20

111

Balanced

NY

Brooklyn

$1,588,000

$1,330,000

264

38

13

119

Buyer's

NY

Staten Island

$1,199,999

$999,000

161

24

11

30

Buyer's

ON

GTA - Durham

$1,495,000

$1,304,000

215

95

25

23

Buyer's

ON

GTA - York

$2,389,000

$1,710,000

589

287

110

11

Balanced

ON

Oakville

$2,572,450

$2,282,500

188

73

20

44

Buyer's

ON

Toronto

$3,584,500

$2,935,000

390

182

72

15

Balanced

TN

Knox County

$795,000

$636,250

199

57

44

41

Seller's

TN

Nashville

$959,950

$925,000

324

131

97

13

Seller's

TX

Austin

$1,107,800

$859,500

529

263

212

8

Seller's

TX

Collin County

$709,000

$652,500

691

211

168

42

Seller's

TX

Dallas

$999,000

$847,000

591

170

165

28

Seller's

TX

Fort Worth

$875,000

$769,000

668

201

138

25

Balanced

TX

Houston

$829,900

$726,250

2,016

611

322

27

Balanced

TX

The Woodlands & Spring

$850,000

$675,000

441

147

71

65

Balanced

UT

Park City

$3,595,000

$2,665,000

218

21

14

151

Buyer's

VA

Arlington & Alexandria

$1,850,000

$1,725,000

99

34

23

17

Seller's

VA

Fairfax County

$1,799,000

$1,385,000

483

170

87

15

Balanced

VA

McLean & Vienna

$2,145,000

$1,650,000

247

87

27

27

Buyer's

VA

Richmond

$841,700

$770,000

260

89

46

13

Balanced

WA

Greater Seattle

$1,895,000

$1,575,000

592

283

298

8

Seller's

WA

Seattle

$1,799,925

$1,515,000

174

96

123

8

Seller's

Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

â&#x20AC;&#x201C; LUXURY MONTHLY MARKET REVIEW â&#x20AC;&#x201C; ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$849,450

$762,000

272

74

22

59

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$775,000

$633,500

263

59

66

64

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,889,500

$1,555,476

694

205

50

11

Buyer's

BC

Victoria

$797,450

$785,000

264

82

46

45

Balanced

CA

Central Coast

$1,119,000

$1,200,000

37

5

5

7

Buyer's

CA

East Bay

$1,049,800

$950,000

67

45

71

12

Seller's

CA

Los Angeles Beach Cities

$1,750,000

$1,500,000

183

61

52

27

Seller's

CA

Los Angeles City

$1,549,000

$1,355,000

311

90

87

23

Seller's

CA

Los Angeles The Valley

$759,000

$675,000

75

38

57

15

Seller's

CA

Marin County

$1,475,000

$1,385,000

11

2

7

27

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,095,000

$954,500

369

139

78

24

Seller's

CA

Palm Springs/Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,124,500

$897,000

572

195

154

22

Seller's

CA

San Francisco

$2,800,000

$2,250,000

78

13

32

21

Seller's

CA

San Luis Obispo County

-

-

-

-

-

-

-

CA

Santa Barbara

$1,797,000

$1,725,000

34

7

3

13

Buyer's

CA

Silicon Valley

$1,483,000

$1,383,750

70

48

76

8

Seller's

CA

Ventura County

$774,000

$724,000

57

20

15

50

Seller's

CO

Boulder

$974,500

$1,350,000

60

27

33

30

Seller's

CO

Colorado Springs

-

-

-

-

-

-

-

CO

Denver

$715,000

$632,450

564

241

216

13

Seller's

CO

Douglas County

$562,875

$585,000

24

9

5

19

Balanced

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

â&#x20AC;&#x201C; LUXURY MONTHLY MARKET REVIEW â&#x20AC;&#x201C; ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

CO

Durango

$775,000

$787,500

40

5

2

227

Buyer's

CO

Mountain Communities

$1,050,000

$870,000

7

3

3

79

Seller's

CO

Vail

$3,377,000

$2,900,000

102

10

11

216

Buyer's

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$775,000

$595,000

241

58

18

134

Buyer's

DC

Washington D.C.

$1,895,000

$1,577,500

174

80

56

10

Seller's

FL

Boca Raton/Delray Beach

$974,500

$685,000

429

58

48

69

Buyer's

FL

Coastal Pinellas Towns

$975,000

$1,117,500

145

22

18

50

Buyer's

FL

Greater Fort Lauderdale

$875,000

$760,000

1,234

140

92

88

Buyer's

FL

Jacksonville Beaches

$979,500

$785,000

42

8

3

60

Buyer's

FL

Miami

$1,050,000

$950,000

2,887

286

89

165

Buyer's

FL

Naples

$2,045,000

$2,200,000

284

33

47

85

Balanced

FL

Orlando

$729,900

$825,000

43

6

11

16

Seller's

FL

Palm Beach Towns

$1,600,000

$1,250,000

400

50

41

86

Buyer's

FL

Sarasota & Beaches

$1,300,000

$1,220,840

266

39

45

24

Balanced

FL

Tampa

$750,000

$571,250

121

39

34

22

Seller's

GA

Atlanta

$667,310

$620,000

634

187

100

46

Balanced

HI

Island of Hawaii

$1,822,500

$1,315,000

84

8

9

42

Buyer's

HI

Kauai

$1,350,000

$1,095,000

81

8

10

92

Buyer's

HI

Maui

$1,825,000

$1,980,000

141

24

24

292

Balanced

HI

Oahu

$1,277,500

$1,225,000

390

59

37

81

Buyer's

ID

Ada County

-

-

-

-

-

-

-

ID

Northern Idaho

-

-

-

-

-

-

-

IL

Chicago

$1,125,000

$877,000

904

250

105

93

Buyer's

IN

Hamilton County

-

-

-

-

-

-

-

MA

Greater Boston

$2,299,500

$1,927,500

202

53

62

43

Seller's

MD

Anne Arundel County

$592,450

$594,900

46

16

15

5

Seller's

MD

Montgomery County

$739,000

$705,000

157

68

58

12

Seller's

MD

Talbot County

-

-

-

-

-

-

-

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

MD

Worcester County

$622,450

$625,000

122

25

7

80

Buyer's

MI

Oakland County

$762,000

$610,000

52

21

9

47

Balanced

MO

St. Louis

-

-

-

-

-

-

-

NC

Charlotte

$711,200

$622,000

156

27

39

60

Seller's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$719,000

$610,000

97

32

12

147

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,350,000

$1,030,000

558

84

59

74

Buyer's

NY

Staten Island

ON

GTA - Durham

$699,945

$650,000

74

80

79

6

Seller's

ON

GTA - York

$854,000

$850,000

236

248

178

7

Seller's

ON

Oakville

$1,350,990

$1,075,000

27

10

7

75

Seller's

ON

Toronto

$1,288,000

$1,125,000

396

299

179

9

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$965,000

$701,300

83

21

14

53

Balanced

TX

Austin

$874,150

$722,500

196

57

55

20

Seller's

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$749,000

$611,573

198

45

24

42

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$799,000

$575,000

371

91

35

27

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,994,475

$2,102,500

151

9

12

70

Buyer's

VA

Arlington & Alexandria

$1,299,000

$1,050,563

61

39

50

7

Seller's

VA

Fairfax County

$708,241

$670,000

164

67

77

7

Seller's

VA

McLean & Vienna

$1,274,495

$1,099,500

26

9

6

29

Seller's

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,059,493

$999,950

154

67

65

12

Seller's

WA

Seattle

$1,212,500

$1,095,000

88

37

29

61

Seller's

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.