Chris Butryn Toronto Luxury Market Report August 2019

CHRIS BUTRYN

LUXURY MARKET REPORT TORONTO | AUGUST 2019

www.BestInLuxury.ca

CHRIS BUTRYN, BA, LLB Real Estate Sales Representative, REALTOR® Member, Institute for Luxury Home Marketing

416.284.4751

Chris@ChrisButryn.com www.BestInLuxury.ca Welcome to this month’s Luxury Market Report for Toronto published by the Institute for Luxury Home Marketing. As a member I am pleased to have the opportunity to share with you this complimentary copy!

When it’s time to sell, let’s leave the sales spin behind. If you are looking for a real conversation about buying and selling a high-end property, I invite you to give me a call. I will guarantee you three things from the start: • Your time will be respected as a precious commodity.

• Transparent communications - I’ll give you straightforward answers to your questions, whether they are what you want to hear or not.

• I share your belief that dependability is non-negotiable.

Sound like an approach you can work with? Let’s talk.

• Author of the upcoming book Down to Earth Advice for Upscale Homeowners • Member, Institute for Luxury Home Marketing since 2015 • Master Sales Award winner 2015-2017 • LLB, Queen’s University • BA (Honours), Queen’s University

TABLE OF CONTENTS PAGE 4

LUXURY REPORT EXPLAINED

PAGE 5

WELCOME MESSAGE

PAGE 6-8

NORTH AMERICAN LUXURY MARKET REVIEW

PAGE 9

13 MONTH MARKET TRENDS

PAGE 10

SINGLE FAMILY HOMES MONTHLY OVERVIEW

PAGE 11

ATTACHED HOMES MONTHLY OVERVIEW

PAGE 12-14 MONTHLY STATISTICS BY CITY - Single Family Homes PAGE 15-17 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 19

LOCAL LUXURY MARKET REVIEW

PAGE 20-21 SINGLE FAMILY HOMES - Monthly Statistics PAGE 22-23 ATTACHED HOMES - Monthly Statistics PAGE 24

THANK YOU

– 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.

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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 © 2019 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.

NORTH AMERICAN LUXURY REVIEW Buying a home is an Escalator to Wealth David Bach, author of “The Automatic Millionaire” that spent 31 weeks on the New York Times bestseller list, states on his website “The fact is, you aren’t really in the game of building wealth until you own some real estate.”

This advice from a well-respected millionaire has been a commonly held belief for decades though the reason for sharing this advice now is because there seems to be a growing slowdown in the demand for luxury homes, which is having people question the value of homeownership.

As demand decreases, this is putting pressure on the value of homes. For the 4th consecutive month, there has been a decline in the average sales price of detached homes throughout North America. Certainly these shifts are not dramatic, but with speculation of a slowing global economy, there will be even more stresses on the upper-tier market.

Bach further states in his book that “buying a home is an escalator to wealth.” How is this possible in a slowing market?

The answer lies in understanding the niches of opportunity that exist within the market at any time. In this month’s report, we investigate some of the niches that are currently in favor with real estate investors.

According to the National Association of Realtors (NAR), the traditional market is seeing an increase in demand. Their recent report indicates that there are more interested buyers than active sellers, meaning that inventory may be increasing but there is still a shortage of supply. In most cases, the increase in demand ultimately drives home prices higher.

The decrease in demand for luxury homes coupled with the increase for traditional homes creates opportunity in the niche market between these two price points. Homeowners from the traditional

market now have the ability to move into the home of their dreams with prices no longer ouside their reach.

Increasing taxes in major cities are also an added burden for those looking to purchase a luxury home. However, following the trend of owning in a state-of-the-art, amenity driven building or complex or a home with smart, space-saving architecture, translates into a savvy buyer purchashing a smaller contemporary living space at a lower price.

Choosing to live in this niche helps avoid the heavy taxes of the very high-end price point. But more importantly, it affords a lifestyle that offers luxury amenities, easy access to travel, and time to relax or partake in a favorite adventure or activity. As well as the opportunity of owning multiple homes – in other parts of the country or abroad.

Another niche experiencing growth are the luxury markets in locations outside the major metropolitan areas such as Sacramento, Boise, Colorado Springs, and Spokane, but close enough to travel to a metropolis, if and when necessary. This growth is being driven by those who can telecommute and seeking more affordable markets to maximize the value of their money.

Also increasing in popularity are towns that are in the midst of revitalization – often home to cottage industries and entrepreneurial online businesses that actually benefit from being positioned as a drivable distance from an expensive city. A major draw for these towns is the sense of community, safety, and enjoyment of a slower-paced lifestyle.

On the opposite spectrum, is the niche market of high-end developments within larger and emerging cities that are attracting luxury investors.

Immediately recognizable in this niche are the redevelopment of industrial, dockyards, and warehouse locations that developers are redesigning or gentrifying. San Francisco is truly representative of this movement with 7 sections of their city seeing a blend of luxury apartments to low rental units, commercial space, parks, and restaurants. These developments are attracting many young, wealthy homeowners who want buy turnkey residences.

Developers who build with an eye towards environmental responsibility have been rewarded with high demand. Buyers are paying top dollar for properties that properly utilize green building technology and carbon neutral energy programs, incorporating outdoor elements within the design, and implementing cleaner air systems and paint.

Many developers and architects are not seeing LEED (Leadership in Energy and Environmental Design - the gold standard of environmentally conscious and energy efficient design) as a plateau to reach. Instead, it is their starting off point for a new way of thinking as well as making economic sense for future generations.

Developers have also recognize the opportunity that lies in the decline of demand for mega mansions.

10-20,000 square foot homes are struggling to maintain their huge price tickets especially as many need a huge investment in renovations to bring them up to modern standards. But in locations such as Vancouver, BC developers are keeping these homes’ beautiful facades while sub-dividing and modernizing their interiors in to luxurious 2-3 bedroom apartments.

The most lucrative real estate niches largely depend on market trends and shifting buying interests, but some are long time money makers.

For homeowners looking to sell their luxury home in today’s market, we recommend working with a Realtor who can capitalize on the preferences of current investors. By carefully focusing on the lifestyle-specific niche your property offers, in line with trends, it can be marketed effectively to connect with the right potential buyers.

– 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.

60

56

54

54

48

47 40

40

38

38

33

45

63

59 56

47

46

41

45

42

42

38

37

34 35

31

43

32

0

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

$493

20

$483

DAYS ON MARKET

80

MAR

APR

MAY

JUN

JUL

$501 $356

$498 $385

$369

$474

$541 $393

$470 $384

$381

$373

$488 $356

$386

$458

$486 $347

$465

$495 $323

$300

$317

$400

$472

$500

$329

PRICE PER SQUARE FOOT

$600

$200

$100

$0

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

JUN

JUL

SALES PRICE VS. LIST PRICE

$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

Discrepancies between statistics published between the July 2019 and August 2019 Luxury Market Reports are due to the addition of Knox County, TN.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month June 2019 | July 2019

SINGLE-FAMILY HOMES June

July

June

July

49,078

46,949

Median List Price

$1,670,000 $1,667,750

Total Inventory

Median Sale Price

$1,361,000

$1,355,313

New Listings

12,873

11,486

97.49%

97.32%

Total Sold

8,458

8,141

17.23%

17.34%

Median Days on Market

37

42

$385

$356

3,606

3,614

Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





1,387

317

New Listings

Total Sold





5

0.11%

Med. Sale Price

Days on Market

Sales Ratio

5,688

$



SINGLE-FAMILY HOMES MARKET SUMMARY | JULY 2019 •

Official Market Type: Balanced Market with a 17.23% Sales Ratio.1

•

Homes are selling for an average of 97.48% of list price.

•

The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,372,000.

•

Markets with the Highest Median Sales Price: Vail ($3,999,000), LA Beach Cities ($3,850,000), Vancouver ($3,350,000), and San Francisco ($3,330,000).

•

Markets with the Highest Sales Ratio: San Francisco (71%), Silicon Valley (46%), Sacramento (40%), and Greater Boston (40%).

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 June 2019 | July 2019

ATTACHED HOMES June

July

Median List Price

$1,018,500

$1,019,394

Median Sale Price

$898,750

$950,670

98.54%

Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.

June

July

Total Inventory

17,120

16,777

New Listings

4,270

4,192

98.35%

Total Sold

2,666

2,502

15.57%

14.91%

Median Days on Market

32

43

$498

$501

1,960

2,014

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





78

164

New Listings

Total Sold





Med. Sale Price

Days on Market

51,920

$

11



0.66% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | JULY 2019 •

Official Market Type: Balanced Market with a 14.91% Sales Ratio.1

•

Attached homes are selling for an average of 98.35% of list price.

•

The median luxury threshold2 price is $702,450, and the median attached luxury sale price is $950,670.

•

Markets with the Highest Median Sales Price: Vail ($2,850,000), San Francisco ($2,200,000), Greater Boston ($1,995,000), and Orlando ($1,872,500).

•

Markets with the Highest Sales Ratio: Silicon Valley (88%), Arlington & Alexandria (75%), LA The Valley (50%), and Montgomery County (47%).

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.

â&#x20AC;&#x201C; LUXURY MONTHLY MARKET REVIEW â&#x20AC;&#x201C; SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$1,166,450

$990,000

774

248

84

44

Buyer's

AZ

Paradise Valley

$2,750,000

$2,800,000

181

18

16

142

Buyer's

AZ

Phoenix

$733,625

$634,750

732

161

216

60

Seller's

AZ

Scottsdale

$1,698,500

$1,365,320

694

85

95

85

Buyer's

AZ

Tucson

$749,000

$659,500

648

132

124

48

Balanced

BC

Okanagan Valley

$1,650,000

$1,350,000

311

51

19

61

Buyer's

BC

Vancouver

$3,998,400

$3,350,000

1,166

260

45

28

Buyer's

BC

Victoria

$1,799,000

$1,410,000

491

132

53

37

Buyer's

CA

Los Angeles Beach Cities

$4,925,000

$3,850,000

508

132

64

36

Buyer's

CA

Los Angeles City

$3,895,000

$3,000,000

1,070

322

128

36

Buyer's

CA

Los Angeles The Valley

$1,999,999

$1,812,500

736

264

170

31

Seller's

CA

Marin County

$3,547,500

$2,762,500

162

22

30

46

Balanced

CA

Napa County

$2,995,000

$2,262,500

168

18

12

45

Buyer's

CA

Orange County

$2,349,000

$1,925,000

2,024

474

304

40

Balanced

CA

Palm Springs & Palm Desert

$1,695,000

$1,400,000

396

41

47

75

Buyer's

CA

Placer County

$1,049,495

$860,000

294

91

78

26

Seller's

CA

Sacramento

$799,000

$705,000

937

364

378

19

Seller's

CA

San Diego

$1,999,000

$1,635,500

1,540

488

264

29

Balanced

CA

San Francisco

$3,990,000

$3,330,000

52

9

37

18

Seller's

CA

Santa Barbara

$3,800,000

$3,312,500

340

61

29

63

Buyer's

CA

Silicon Valley

$3,982,500

$3,150,000

258

83

121

15

Seller's

CA

Ventura County

$1,790,000

$1,490,000

443

123

77

62

Balanced

CO

Boulder

$1,775,000

$1,360,625

275

66

62

57

Seller's

CO

Denver

$965,000

$840,000

1,353

423

528

14

Seller'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

Douglas County

$1,266,000

$1,040,000

353

86

93

26

Seller's

CO

Vail

$3,997,000

$3,999,000

144

16

3

93

Buyer's

DC

Washington D.C.

$2,995,900

$2,958,285

52

11

11

28

Seller's

$2,250,000

$1,700,000

549

70

35

151

Buyer's

$1,650,000

$1,340,000

81

10

16

102

Balanced

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$1,275,000

$927,500

1,587

285

186

61

Buyer's

FL

Jacksonville Beaches

$1,250,000

$1,025,000

355

57

35

70

Buyer's

FL

Miami

$1,299,950

$931,650

1,484

208

107

154

Buyer's

FL

Naples

$2,195,000

$1,800,000

667

76

61

143

Buyer's

FL

Orlando

$1,595,000

$1,300,000

520

58

46

64

Buyer's

FL

Palm Beach Towns

$3,200,000

$2,743,975

369

38

32

131

Buyer's

FL

Sarasota & Beaches

$1,685,500

$1,363,000

549

63

41

105

Buyer's

FL

Tampa

$775,000

$681,000

857

184

195

44

Seller's

GA

Atlanta

$1,150,000

$955,000

1,383

368

228

31

Balanced

HI

Kauai

$2,447,500

$1,442,500

120

14

10

33

Buyer's

HI

Maui

$3,347,500

$2,110,000

202

24

7

125

Buyer's

HI

Oahu

$3,349,500

$2,240,000

262

58

20

21

Buyer's

IL

Chicago

$1,199,700

$1,072,500

2,352

669

368

50

Balanced

MA

Greater Boston

$3,300,000

$2,500,000

153

30

61

32

Seller's

MD

Montgomery County

$1,749,000

$1,430,500

363

84

90

27

Seller's

MD

Talbot County

$1,870,000

$1,250,000

119

10

7

74

Buyer's

MD

Worcester County

$949,950

$992,500

74

13

8

43

Buyer's

MI

Oakland County

$724,900

$618,380

1,396

493

249

22

Balanced

MO

St. Louis

$775,000

$642,500

255

74

69

33

Seller'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

NC

Charlotte

$894,300

$785,000

1,076

225

278

29

Seller's

NC

Raleigh-Durham

$706,000

$690,000

1,079

217

279

4

Seller's

NJ

Ocean County

$875,000

$732,500

801

173

62

61

Buyer's

NV

Las Vegas

$738,444

$625,000

1,756

459

284

32

Balanced

NV

Reno

$1,375,000

$1,201,767

159

35

26

73

Balanced

NY

Brooklyn

$1,580,000

$1,200,000

311

51

15

58

Buyer's

NY

Staten Island

$1,195,000

$1,095,000

212

43

14

80

Buyer's

ON

GTA - Durham

$1,499,900

$1,266,250

304

131

30

32

Buyer's

ON

GTA - York

$2,290,000

$1,748,000

917

375

81

30

Buyer's

ON

Toronto

$3,588,800

$3,150,000

483

184

49

30

Buyer's

TN

Knox County

$759,000

$671,500

275

58

52

36

Balanced

TN

Nashville

$1,099,000

$905,000

339

111

91

11

Seller's

TX

Austin

$1,075,000

$806,750

780

226

264

14

Seller's

TX

Collin County

$700,000

$655,000

1,054

226

188

49

Balanced

TX

Dallas

$989,000

$790,000

1,009

235

137

43

Buyer's

TX

Fort Worth

$885,000

$743,725

932

210

204

35

Seller's

TX

Houston

$825,000

$747,450

2,270

570

346

34

Balanced

TX

The Woodlands & Spring

$799,250

$650,000

562

159

107

27

Balanced

UT

Park City

$3,200,000

$2,487,500

306

50

24

44

Buyer's

VA

Arlington & Alexandria

$1,999,900

$1,580,000

92

22

26

22

Seller's

VA

Fairfax County

$1,649,000

$1,452,500

577

122

106

45

Balanced

VA

McLean & Vienna

$1,825,000

$1,575,000

255

58

42

54

Balanced

WA

Greater Seattle

$1,800,000

$1,577,500

1,265

364

354

12

Seller's

WA

Seattle

$1,750,000

$1,505,950

336

115

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

$814,800

$775,000

307

101

33

51

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$725,000

$640,000

187

35

35

58

Balanced

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,863,000

$1,666,667

864

254

63

42

Buyer's

BC

Victoria

$798,500

$770,000

295

100

61

30

Balanced

CA

Los Angeles Beach Cities

$1,749,000

$1,500,000

215

74

69

17

Seller's

CA

Los Angeles City

$1,499,500

$1,189,000

403

134

90

25

Seller's

CA

Los Angeles The Valley

$699,000

$699,444

153

75

78

27

Seller's

CA

Marin County

$1,395,000

$1,128,750

27

9

8

43

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,038,888

$966,500

625

206

124

32

Balanced

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,049,450

$870,000

688

267

120

29

Balanced

CA

San Francisco

$2,900,000

$2,200,000

97

26

34

14

Seller's

CA

Santa Barbara

$1,850,000

$1,425,000

49

13

5

37

Buyer's

CA

Silicon Valley

$1,399,400

$1,405,000

94

51

83

18

Seller's

CA

Ventura County

$775,000

$690,000

93

39

31

49

Seller's

CO

Boulder

$925,000

$825,000

77

30

23

57

Seller's

CO

Denver

$699,000

$599,000

575

185

225

18

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.

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

Douglas County

$687,000

$575,000

34

14

8

22

Seller's

CO

Vail

$3,950,000

$2,850,000

111

12

3

47

Buyer's

DC

Washington D.C.

$1,892,500

$1,550,000

160

46

49

10

Seller's

$977,000

$702,500

324

44

28

61

Buyer's

$944,995

$744,950

98

10

12

52

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$869,000

$792,500

1,226

145

66

98

Buyer's

FL

Jacksonville Beaches

$1,148,834

$1,800,000

62

6

5

57

Buyer's

FL

Miami

$999,900

$937,500

2,859

303

64

236

Buyer's

FL

Naples

$2,195,000

$1,812,000

219

23

17

87

Buyer's

FL

Orlando

$659,900

$1,872,500

86

15

4

59

Buyer's

FL

Palm Beach Towns

$1,472,500

$1,850,000

300

40

31

82

Buyer's

FL

Sarasota & Beaches

$1,469,500

$1,300,000

216

26

15

80

Buyer's

FL

Tampa

$699,000

$571,000

135

21

26

66

Balanced

GA

Atlanta

$669,000

$584,938

583

157

91

37

Balanced

HI

Kauai

$1,375,000

$963,839

87

9

13

72

Buyer's

HI

Maui

$1,891,500

$1,389,000

142

21

13

97

Buyer's

HI

Oahu

$1,300,000

$1,023,000

431

86

47

44

Buyer's

IL

Chicago

$1,124,888

$1,050,000

1,111

350

137

46

Buyer's

MA

Greater Boston

$2,315,256

$1,995,000

282

49

73

27

Seller's

MD

Montgomery County

$775,000

$687,500

153

42

73

36

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$599,450

$600,000

104

13

5

104

Buyer's

MI

Oakland County

$865,000

$619,891

63

13

13

73

Balanced

MO

St. Louis

-

-

-

-

-

-

-

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

NC

Charlotte

$752,450

$686,904

130

25

26

45

Balanced

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$619,950

$665,000

148

19

17

80

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,326,500

$1,090,000

754

204

45

61

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - Durham

$575,000

$560,000

30

24

9

16

Seller's

ON

GTA - York

$749,950

$722,250

242

114

36

28

Buyer's

ON

Toronto

$1,228,000

$1,125,000

459

322

151

16

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$831,950

$714,000

72

33

25

20

Seller's

TX

Austin

$776,000

$676,560

203

67

44

38

Seller's

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$700,000

$624,500

205

37

20

60

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$649,900

$661,250

209

58

24

54

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,950,000

$1,775,000

175

26

11

32

Buyer's

VA

Arlington & Alexandria

$1,250,000

$995,000

55

31

41

7

Seller's

VA

Fairfax County

$748,000

$689,950

175

74

80

14

Seller's

VA

McLean & Vienna

$1,275,000

$996,540

39

7

6

12

Balanced

WA

Greater Seattle

$1,177,900

$1,042,500

212

71

70

22

Seller's

WA

Seattle

$1,205,000

$1,221,475

134

36

22

31

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.

Luxury is in each detail.

Hubert de Givenchy

TORONTO

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JULY 2019 Inventory

Sales

Luxury Benchmark Price 1: $2,500,000 $9,000,000+ $8,000,000 - $8,999,999 $7,000,000 - $7,999,999 $6,000,000 - $6,999,999

33

2 8

0

11

0

3

$2,700,000 - $2,799,999

50

1

31

4

47

2 18

6

42

3 36

3 28

3

$2,600,000 - $2,699,999 $2,500,000 - $2,599,999

67

2

$3,000,000 - $3,249,999

$2,800,000 - $2,899,999

Total Sales Ratio2: 10%

7

$3,500,000 - $3,749,999

$2,900,000 - $2,999,999

Buyer's Market 38

$4,000,000 - $4,999,999

$3,250,000 - $3,499,999

Total Sales: 49 17

2

$5,000,000 - $5,999,999

$3,750,000 - $3,999,999

Total Inventory: 483

31

8

26

4

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0-1 Bedrooms

$3,500,000

5

2

1

3

33%

2 Bedrooms

$3,527,000

2

3

1

6

17%

3 Bedrooms

$3,000,000

18

4

2

45

4%

4 Bedrooms

$2,950,000

38

5

27

239

11%

5 Bedrooms

$4,350,000

30

5

15

134

11%

6+ Bedrooms

$2,565,000

21

8

3

51

6%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

TORONTO

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$3,177,298

$3,135,000

$2,980,000

575

550

494

$3,075,000

$3,000,000

$3,019,000

Jul-18

79

Aug-18

Sep-18

82 Oct-18

59

18

Nov-18

Dec-18

$2,938,953

18

Jan-19

Solds

$3,175,000

$3,222,000

$3,012,000

44

39

Feb-19

Mar-19

$3,010,000

593

574

499

474

391

346

287 42

$2,785,500

492

403

58

Inventory

125

97

Apr-19

May-19

$3,150,000

483

84

Jun-19

49

Jul-19

MEDIAN DATA INVENTORY June

July

593

SOLDS June

SALES PRICE July

483 VARIANCE: -19 %

49 VARIANCE: -42 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

June

July

N/A

N/A VARIANCE: N/A

84

June

July

96.39% 95.55% VARIANCE: -1 %

June

3.01m

$

July

3.15m VARIANCE: 5 % $

DAYS ON MARKET June

13

30 VARIANCE: 131 %

TORONTO MARKET SUMMARY | JULY 2019 • The Toronto single-family luxury market is a Buyer's Market with a 10% Sales Ratio.

• Homes sold for a median of 95.55% of list price in July 2019.

• The most active price band is $3,000,000-$3,249,999, where the sales ratio is 33%.

• The median luxury sales price for single-family homes has increased to $3,150,000.

• The median days on market for July 2019 was 30 days, up from 13 in June 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

July

TORONTO

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | JULY 2019 Inventory

Sales

Luxury Benchmark Price 1: $915,000 $6,000,000+ $5,000,000 - $5,999,999 $4,000,000 - $4,999,999 $3,000,000 - $3,999,999

7

0 0 0

3

Total Inventory: 459 4

Total Sales: 151

$2,000,000 - $2,999,999

27

8

34

7

$1,250,000 - $1,499,999

$1,100,000 - $1,149,999 $1,050,000 - $1,099,999

21

10

35

8

32

10

34

11 12

$1,000,000 - $1,049,999

17

$950,000 - $999,999

67

25

$915,000 - $949,999

1

74

26

$1,200,000 - $1,249,999 $1,150,000 - $1,199,999

Total Sales Ratio2: 33%

47

9

$1,750,000 - $1,999,999 $1,500,000 - $1,749,999

Seller's Market

21

4

41

16

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 Bedrooms

NA

NA

NA

0

0

NA

1 Bedrooms

$1,050,000

19

2

9

33

27%

2 Bedrooms

$1,099,000

19

2

97

307

32%

3 Bedrooms

$1,227,500

13

3

42

114

37%

4 Bedrooms

$1,396,000

19

4

3

5

60%

5+ Bedrooms

NA

NA

NA

0

0

NA

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

TORONTO

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$1,194,500

$1,195,000

$1,175,000

478

476

359

$1,150,000

Jul-18

$1,200,000

386

359 102

$1,180,000

Inventory

Aug-18

Sep-18

133

Oct-18

115

Nov-18

69 Dec-18

$1,140,500

$1,192,500 $1,129,000

72 Jan-19

130

108 Feb-19

$1,115,000

528

481

447

355

311

266 133

114

$1,190,000

Solds

Mar-19

$1,125,000

490 231

172

Apr-19

May-19

$1,125,000

459

172

Jun-19

151

Jul-19

MEDIAN DATA INVENTORY June

July

490

SOLDS June

SALES PRICE July

459 VARIANCE: -6 %

151 VARIANCE: -12 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

June

July

N/A

N/A VARIANCE: N/A

172

June

July

98.82% 98.07% VARIANCE: -1 %

June

1.13m

$

July

1.13m VARIANCE: 0 % $

DAYS ON MARKET June

13

16 VARIANCE: 23 %

TORONTO MARKET SUMMARY | JULY 2019 • The Toronto attached luxury market is a Seller's Market with a 33% Sales Ratio.

• Homes sold for a median of 98.07% of list price in July 2019.

• The most active price band is $1,000,000-$1,049,999, where the sales ratio is 142%.

• The median luxury sales price for attached homes has remained at $1,125,000.

• The median days on market for July 2019 was 16 days, up from 13 in June 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

July

Not intended to solicit anyone already under contract. Information provided herein is believed to be true but not guaranteed. It is limited, and provided for information purposes only, on an â&#x20AC;&#x153;as isâ&#x20AC;? basis and without warranties of any kind, either express or implied, including but not limited to warranties of title or implied warranties of merchantability or fitness for a particular purpose, compatibility, accuracy or non-infringement. It is not, and should not be taken as consulting or other professional advice. You should not rely on, or take or fail to take any action based on this information. You assume full responsibility and risk of loss from your use of any information herein. Never disregard professional advice or delay in seeking it because of something you have read herein. To the fullest extent permitted by law, we make no warranties and shall not be liable for any use of the information under any circumstances, including, but not limited to, for our or our third party providersâ&#x20AC;&#x2122; negligence or errors. Subject to applicable laws, in no event shall we, nor any of our related entities, agents or licensors be responsible or liable for damages of any kind. Source for the statistics and information provided herein: The Institute for Luxury Home Marketing.

Thank you for taking time to view this report.

For more information about this report and the services I can offer you and your luxury property, please give me a call at 416.284.4751.

- Chris Butryn

CHRIS BUTRYN

416.284.4751 | Chris@ChrisButryn.com | www.BestInLuxury.ca