PRESENTED BY COLDWELL BANKER REALTY JOHN SMITH
LUXURY MARKET INSIGHTS
JOHN SMITH REALTOR®
Coldwell Banker Realty
555.123.4567
John.Smith@cbrealty.com
www.JohnSmith.com
As luxury expert in Chicago, John Smith offers a wealth of knowledge and expertise that is unsurpassed; you can always trust his service and commitment.
John Smith has served affluent clientele for over 20 years. He offers keen insight into executive and corporate relocation services, and understands and adapts to constant changes in the luxury market. His expertise is why his clients are excited to refer his services to their family, friends, and colleagues. He is a Broker Associate, Coldwell Banker Global Luxury Ambassador, a Luxury Property Specialist and an expert trainer with The Institute for Luxury Home Marketing.
• Coldwell Banker Global Luxury Property Specialist
• Coldwell Banker Global Luxury Ambassador
• Certified Luxury Home Marketing Specialist – Million Dollar Guild
• Certified Residential Specialist, Pricing Strategy Advisor
Welcome to THE REPORT 2023
Luxury Market Insights
There are more than a few words that could sum up our current luxury residential landscape: resiliency, adaptability, contradiction, transition, adjustment, resetting. Declarations of 2023 as a year of correction by some in the media may prove to be the most apt description of where the real estate market sits presently. But only time will tell if this title holds against the tides of reality. Expectations have shifted more recently, with all eyes on the spring to post a strong showing for luxury real estate after a momentary pause in 2022.
Paradoxes abound in this market. Conditions are improving for buyers this year, but it’s not a buyer’s market yet –at least not everywhere. Median prices for luxury single-family homes are up in some places, like Seattle, and trending down in others, like in Phoenix. Inventory is up overall, but new inventory continues to lag. Even on the wealth side, the metrics don’t paint a consistent picture. These contradictions have sowed confusion and allowed housing market misconceptions to take root, which is something The Report 2023 seeks to dispel.
This year’s report gathered intelligence from The Institute of Luxury Home Marketing, Wealth-X, Credit Suisse, the National Association of Realtors, a Censuswide/Coldwell Banker Global Luxury Survey, and others. Over 600 Coldwell Banker Global Luxury Property Specialists were surveyed for their outlook on the unique buying, selling, and market trends of high-end real estate.
I hope you will find this information invaluable.
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John Smith
REALTY JOHN SMITH 555.123.4567 | John.Smith@cbrealty.com | www.JohnSmith.com JOHN SMITH 555.123.4567 | John.Smith@cbrealty.com | www.JohnSmith.com COLDWELL BANKER REALTY
