Chris Butryn Luxury Market Report September 2019

CHRIS BUTRYN

LUXURY MARKET REPORT TORONTO | SEPTEMBER 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 indepth 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

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 The Changing Face of Luxury It only seems a short few years ago that demand for large properties, mega mansions, private estates and luxury ranches were all the fashion, but the younger generation, especially millennial millionaires are shying away.

Don’t be mistaken that it’s about the price, that is simply not true. It’s more to do with changes in lifestyle preferences and the value they can obtain for their money. These larger properties are viewed as too laborintensive and expensive to run and manage. Instead, today’s home purchase decisions are based on the experience and amenities a property affords to its owner.

For instance, Mark Cuban (TV’s “Shark Tank” Investor) just bought a vacation property that is under 7,900 sq ft for $19 million in Laguna Beach. It’s a stunning, ultra-modern property, with walls that open up the outdoor space, a private pool, and ocean views. But the significant difference isn’t just that it’s a smaller space than you’d expect for this billionaire. Instead it’s the opportunity to own a private home that has access to community amenities of a luxury hotel - including services such as concierge, room service, housekeeping, and a spa.

As Millennials (aged 23-37) become prime consumers, their numbers - as stated by Pew Research - will overtake Baby Boomers by the end of this year. We are already starting to feel the definite shift being created by their purchasing power. These affluent millennials are investing in forms of discreet wealth, preferring intangible items such as wellness and eco-friendly products rather than name brands.

This trend isn’t just the jurisdiction of the young; more and more luxury condo developers are pouring their money into providing a plethora of amenities as they recognize the equal appeal from empty nesters, retirees, and baby boomers.

There has also been a growing trend for today's wealthy to diversify and purchase not one, but several smaller residences in various locations to further enhance their need for unparalleled experiences. This also explains why luxury buyers are downsizing and prioritizing quality over space.

Another aspect of this growing trend is location – buyers are looking for the benefits of a great walk score to nearby dining, shopping, and lifestyle experiences.

In looking at just some of developments entering or soon to be entering the market, these units are not limited to existing the hot markets, such as Los Angeles and New York. Luxury condominium projects are popping up all over the place fuelled by buyers wanting to diversify their portfolio and purchase a luxury residence without the higher price points and additional taxes associated with more popular locations.

1000M Located at the edge of Grant Park on iconic Michigan Avenue in Chicago, IL, 1000M’s website offers the headline “Seek Beauty” and promises to effortlessly blend city and nature for an uncompromised living experience. Said to be completed in 2021, residents can expect to enter through the private Porte-Cochere that leads to a 400-car garage and high-speed elevators to efficiently connect people to their homes. Amenities will also include a sky terrace at 800 feet (telescope included), a winter garden, wine room, and a demonstration kitchen and private dining room. Available units are now priced between $279,000 and $8.1M. The Fairweather Moving south to Raleigh, NC, The Fairweather, which has already broken ground, will offer just 45 exclusive residences priced from $425,000 to just over $1M. The prime location on S. West Street will offer one of the highest walk scores of any downtown residence. Homeowners here will be able to relax in the many outdoor spaces and marvel at the convenience of the fitness center, bike repair, dog wash station, and on-site garden.

111 Murray Street New York’s skyline, which is always on the forefront of luxury, now includes one of its newest addresses at 111 Murray street. Priced from $279,000 to $8.1M, this complex truly allows buyers to transition away from a large single-family home. Equipped with a professional demonstration kitchen for intimate dinner parties, a patisserie that can transform into a pre-dinner cocktail bar, and a 75-foot lap pool. Residents can leave behind the seldom/sometimes used spaces in their larger estates for a smaller personal space that provides a plethora of entertaining options a just a short elevator ride away.

Mira Over on the west coast, Mira in San Francisco, CA provides several unexpected turns. As a response to the strong need for dense, affordable housing, Mira, while a luxury condominium in every right, is expected to price 40% of its units under market value for buyers making up to 100% of the median income. What is also impressive is the physical twist of the building, a nod to the traditional San Francisco bay windows that also sets each unit up as a corner unit. Mira will also include convenient first-level storefronts, bringing the neighborhood retail experience to your doorstep. Available Mira units are being offered between $900,000 and $3M.

The Terminal at Katy Trail “Discover Living as an Art Form”- the tagline on The Terminal's website brilliantly summarizes one of Dallas’ newest complexes, set to be completed in 2021. Comprising just 19 residences, each thoughtfully designed space is being constructed as a corner unit. Art plays a significant role in each detail, as every unit will be customized to the individual discerning buyer and their varying predilections for architecture and furnishings. As a finishing touch, each unit entrance door will be placed as far from neighbors as possible and also as close as possible to each unit's unique view. The effect gives homeowners a breathtaking grand entrance every time they walk through the door. Pricing for these units ranges from $2.5M to $6.6M. The Laurel Starting in the $2 Millions and arriving in early 2022, The Laurel Ritten House in Philadelphia, PA offers a new living experience inspired by historic surroundings and built for the future. Its amenities, as promoted on their website, are designed to “inspire new levels of health and wellbeing.” In addition to the swimming pool and yoga studio, residents can be chauffeured to downtown experiences in The Laurel’s private town car or host elegant gatherings at home in the 26th floor lounge. Need to get away? The Laurel offers options for access to private aviation services.

This demand to include a ‘wellness’ aspect within a new development’s scope has been driven by the purchasers of luxury real estate. The affluent have recognized the need for a healthy balance that supports their holistic well-being against their hectic work schedules and the increasing harmful pollution.

Awareness and knowledge of the benefits of living in an eco-friendly environment, coupled with their financial ability and an industry ready to support the building of wellness real estate, will ensure that this segment continues to see growth.

The changing face of the real estate industry now fully recognizes the importance of including amenities that address the physical, social and mental/emotional/spiritual dimensions of its residents.

As such, it is predicted that the future lies in building master planned communities. These will be designed to provide “wellness communities” that offer a well-rounded neighborhood with real estate built for multiple generations. They will put people’s well-being at the centre of the conception, design, creation and development of their home.

Luxury is currently the trend leader but as it grows, this will enable developers to leverage the benefits at more affordable rates - allowing them to create more affordable smart-healthy homes and neighborhoods.

– 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.

DAYS ON MARKET

80

60

54

54

48

47 45

40

54

56

47

46

41

38

38

63

59

56

45

38

42

31

34

42 43

37

35

39

32

20

0 AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

$502 $351

$501 $356

$498 $385

$369

$474

$541 $393

$384

$470

$493 $381

$373

$483

$488 $356

$386

$458

$486 $347

$300

$323

$465

$400

$495

$500

$317

PRICE PER SQUARE FOOT

$600

$200

$100

$0

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

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

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

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

SINGLE-FAMILY HOMES July

Median List Price Median Sale Price

August

$1,667,750 $1,685,000

Total Inventory

$1,355,313

$1,385,250

Median SP/LP Ratio

97.32%

96.91%

Total Sold

Total Sales Ratio

17.34%

16.01%

Median Days on Market

$356

$351

Median Price per Sq. Ft.

July

August

49,949

46,040

11,486

10,589

8,141

7,371

42

54

3,614

3,681

New Listings

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





897

770

New Listings

Total Sold





13

1.33%

Med. Sale Price

Days on Market

Sales Ratio

29,938

$



SINGLE-FAMILY HOMES MARKET SUMMARY | AUGUST 2019 •

Official Market Type: Balanced Market with a 16.01% Sales Ratio.1

•

Homes are selling for an average of 96.91% of list price.

•

The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,385,250.

•

Markets with the Highest Median Sales Price: Vail ($4,000,000), LA Beach Cities ($3,700,000), Vancouver ($3,385,000), and Silicon Valley ($3,175,000).

•

Markets with the Highest Sales Ratio: San Francisco (48%), Sacramento (36%), Seattle (35%), and Austin (35%).

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 July 2019 | August 2019

ATTACHED HOMES July

August

Median List Price

$1,019,394

$999,400

Median Sale Price

$950,670

$877,401

Median SP/LP Ratio

98.35%

Total Sales Ratio Median Price per Sq. Ft.

July

August

16,777

16,218

New Listings

4,192

3,881

98.11%

Total Sold

2,502

2,408

14.91%

14.85%

Median Days on Market

43

39

$501

$502

2,014

2,038

Total Inventory

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





New Listings

Total Sold

311

94





Med. Sale Price

Days on Market

73,269

$

4



0.06% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | AUGUST 2019 •

Official Market Type: Buyer's Market with a 14.85% Sales Ratio.1

•

Attached homes are selling for an average of 98.11% of list price.

•

The median luxury threshold2 price is $702,450, and the median attached luxury sale price is $877,401.

•

Markets with the Highest Median Sales Price: Vail ($2,600,000), San Francisco ($2,200,000), Greater Boston ($2,000,000), and Naples ($1,850,000).

•

Markets with the Highest Sales Ratio: Silicon Valley (65%), LA The Valley (59%), Fairfax County (43%), and Denver (39%).

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

$1,175,000

$1,075,000

745

200

87

55

Buyer's

AZ

Paradise Valley

$2,875,000

$2,675,000

168

29

22

79

Buyer's

AZ

Phoenix

$742,450

$616,000

700

201

208

77

Seller's

AZ

Scottsdale

$1,699,000

$1,275,000

696

107

71

101

Buyer's

AZ

Tucson

$749,950

$651,250

611

115

96

28

Balanced

BC

Okanagan Valley

$1,595,000

$1,330,000

844

124

29

64

Buyer's

BC

Vancouver

$3,999,000

$3,585,000

1,135

214

48

60

Buyer's

BC

Victoria

$1,819,500

$1,487,000

462

96

58

33

Buyer's

CA

Los Angeles Beach Cities

$4,995,000

$3,700,000

444

112

65

35

Buyer's

CA

Los Angeles City

$3,895,000

$3,052,500

961

258

128

44

Buyer's

CA

Los Angeles The Valley

$1,995,000

$1,835,310

673

203

158

31

Seller's

CA

Marin County

$3,750,000

$3,000,000

171

26

24

62

Buyer's

CA

Napa County

$3,137,500

$2,112,500

172

24

18

106

Buyer's

CA

Orange County

$2,435,000

$2,012,500

1,870

397

274

55

Buyer's

CA

Palm Springs & Palm Desert

$1,697,000

$1,450,000

344

45

43

76

Buyer's

CA

Placer County

$999,973

$905,000

288

72

65

40

Seller's

CA

Sacramento

$789,000

$699,975

949

341

342

24

Seller's

CA

San Diego

$2,000,000

$1,625,000

1,478

427

265

37

Balanced

CA

San Francisco

$3,847,500

$3,025,000

66

26

32

23

Seller's

CA

Santa Barbara

$3,695,000

$2,550,000

321

69

31

25

Buyer's

CA

Silicon Valley

$3,988,000

$3,175,000

280

110

95

20

Seller's

CA

Ventura County

$1,750,000

$1,437,500

423

100

76

60

Balanced

CO

Boulder

$1,696,000

$1,400,000

290

89

57

64

Balanced

CO

Denver

$950,000

$865,000

1,305

408

422

19

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

$1,250,000

$1,122,000

343

75

69

29

Balanced

CO

Vail

$3,999,000

$4,000,000

149

18

11

92

Buyer's

DC

Washington D.C.

$3,245,000

$2,655,000

46

7

14

41

Seller's

$2,232,300

$1,850,000

542

68

40

150

Buyer's

$1,599,000

$1,180,000

81

13

13

107

Balanced

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$1,280,000

$929,303

1,607

285

124

87

Buyer's

FL

Jacksonville Beaches

$1,252,500

$1,085,000

358

58

35

83

Buyer's

FL

Miami

$1,290,500

$930,000

1,452

224

79

124

Buyer's

FL

Naples

$2,122,950

$1,412,500

642

56

42

132

Buyer's

FL

Orlando

$1,608,000

$1,420,457

509

64

56

85

Buyer's

FL

Palm Beach Towns

$3,200,000

$1,475,000

345

38

19

133

Buyer's

FL

Sarasota & Beaches

$1,695,000

$1,300,000

497

45

39

104

Buyer's

FL

Tampa

$775,000

$730,000

871

188

180

53

Balanced

GA

Atlanta

$1,174,900

$1,015,000

1,403

341

171

40

Buyer's

HI

Kauai

$2,797,500

$1,687,500

160

13

14

168

Buyer's

HI

Maui

$3,195,000

$2,487,500

209

26

20

189

Buyer's

HI

Oahu

$3,250,000

$2,300,000

265

43

23

55

Buyer's

IL

Chicago

$1,199,000

$1,060,000

2,188

485

305

56

Buyer's

MA

Greater Boston

$3,475,000

$2,489,000

119

13

25

37

Seller's

MD

Montgomery County

$1,699,750

$1,387,000

344

61

93

60

Seller's

MD

Talbot County

$1,870,000

$1,400,000

117

9

6

87

Buyer's

MD

Worcester County

$980,950

$925,000

68

5

3

172

Buyer's

MI

Oakland County

$699,900

$637,000

1,431

471

224

34

Balanced

MO

St. Louis

$774,900

$655,688

227

49

43

32

Balanced

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

$899,000

$799,500

1,076

238

260

44

Seller's

NC

Raleigh-Durham

$700,000

$665,000

1,097

227

265

3

Seller's

NJ

Ocean County

$879,000

$834,000

826

177

78

86

Buyer's

NV

Las Vegas

$720,000

$620,000

1,769

489

317

40

Balanced

NV

Reno

$1,350,000

$1,300,000

175

31

25

139

Buyer's

NY

Brooklyn

$1,598,000

$1,389,167

303

52

14

73

Buyer's

NY

Staten Island

$1,199,500

$970,000

210

33

16

89

Buyer's

ON

GTA - Durham

$1,598,000

$1,214,000

303

101

26

26

Buyer's

ON

GTA - York

$2,299,999

$1,767,500

849

276

76

35

Buyer's

ON

Toronto

$3,498,888

$2,900,000

483

159

53

35

Buyer's

TN

Knox County

$785,000

$725,226

276

54

39

30

Buyer's

TN

Nashville

$1,084,000

$940,000

340

126

115

14

Seller's

TX

Austin

$1,050,000

$822,500

726

202

254

22

Seller's

TX

Collin County

$699,764

$681,140

1,029

219

169

69

Balanced

TX

Dallas

$995,000

$846,375

966

218

144

40

Buyer's

TX

Fort Worth

$869,950

$786,250

940

206

178

30

Balanced

TX

Houston

$829,000

$727,500

2,219

588

320

36

Buyer's

TX

The Woodlands & Spring

$822,500

$737,500

542

131

82

39

Balanced

UT

Park City

$3,250,000

$2,150,000

309

38

27

69

Buyer's

VA

Arlington & Alexandria

$1,996,500

$1,770,000

94

22

21

29

Seller's

VA

Fairfax County

$1,675,000

$1,383,500

554

117

88

43

Balanced

VA

McLean & Vienna

$1,899,999

$1,605,000

240

52

30

55

Buyer's

WA

Greater Seattle

$1,849,945

$1,599,000

1,038

284

304

21

Seller's

WA

Seattle

$1,765,000

$1,475,000

307

101

108

23

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

$799,950

$790,000

288

85

32

82

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$707,000

$607,500

194

45

32

69

Balanced

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,888,000

$1,680,000

809

163

59

34

Buyer's

BC

Victoria

$899,900

$801,001

181

58

31

28

Balanced

CA

Los Angeles Beach Cities

$1,795,000

$1,510,500

220

93

62

19

Seller's

CA

Los Angeles City

$1,498,444

$1,225,000

386

125

79

20

Balanced

CA

Los Angeles The Valley

$699,000

$690,000

138

65

81

25

Seller's

CA

Marin County

$1,449,500

$1,500,000

21

6

7

72

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$998,800

$905,000

545

155

141

30

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,050,000

$959,900

681

274

157

35

Seller's

CA

San Francisco

$2,680,000

$2,200,000

107

30

39

13

Seller's

CA

Santa Barbara

$2,195,000

$1,375,000

43

12

3

2

Buyer's

CA

Silicon Valley

$1,432,085

$1,380,000

113

64

73

16

Seller's

CA

Ventura County

$764,500

$767,500

86

35

32

41

Seller's

CO

Boulder

$899,000

$800,713

71

20

10

71

Buyer's

CO

Denver

$689,000

$625,000

616

217

239

25

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

$671,950

$650,000

28

7

9

25

Seller's

CO

Vail

$3,995,000

$2,600,000

101

4

5

67

Buyer's

DC

Washington D.C.

$1,849,000

$1,637,500

150

33

34

39

Seller's

$979,000

$685,000

346

66

19

140

Buyer's

$875,000

$869,100

101

19

23

61

Seller's

$875,000

$725,000

1,177

132

53

116

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

FL

Jacksonville Beaches

$1,070,000

$1,000,000

53

7

9

45

Balanced

FL

Miami

$999,999

$880,000

2,821

310

58

163

Buyer's

FL

Naples

$2,150,000

$1,850,000

214

18

15

113

Buyer's

FL

Orlando

$580,000

$502,000

97

18

23

28

Seller's

FL

Palm Beach Towns

$1,459,000

$1,690,000

311

45

28

157

Buyer's

FL

Sarasota & Beaches

$1,445,000

$1,550,000

201

33

19

113

Buyer's

FL

Tampa

$682,000

$596,000

128

23

21

29

Balanced

GA

Atlanta

$659,000

$625,000

569

164

94

40

Balanced

HI

Kauai

$1,395,000

$874,802

56

8

4

287

Buyer's

HI

Maui

$2,050,000

$1,500,000

131

7

11

112

Buyer's

HI

Oahu

$1,300,000

$1,009,500

445

107

44

43

Buyer's

IL

Chicago

$1,149,950

$1,092,500

1,066

282

147

42

Buyer's

MA

Greater Boston

$2,499,000

$2,000,000

234

42

63

38

Seller's

MD

Montgomery County

$750,000

$680,000

153

53

57

30

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$599,000

$588,500

111

16

14

136

Buyer's

MI

Oakland County

$795,000

$659,040

69

22

12

19

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

$719,450

$660,096

122

22

38

29

Seller's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$629,900

$590,000

157

23

7

69

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,330,000

$1,025,000

716

146

58

62

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - Durham

$569,000

$555,000

27

16

9

29

Seller's

ON

GTA - York

$745,000

$708,750

137

71

22

31

Balanced

ON

Toronto

$1,200,000

$1,099,500

475

271

128

15

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$890,000

$731,250

94

50

22

18

Seller's

TX

Austin

$778,098

$650,000

217

62

33

17

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$702,747

$597,000

206

47

22

71

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$649,900

$590,000

215

80

17

74

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,995,000

$1,445,000

173

25

24

86

Buyer's

VA

Arlington & Alexandria

$1,250,000

$917,498

51

21

14

23

Seller's

VA

Fairfax County

$735,000

$650,000

187

69

81

17

Seller's

VA

McLean & Vienna

$1,292,000

$1,062,500

41

8

6

42

Buyer's

WA

Greater Seattle

$1,177,475

$929,990

206

66

62

12

Seller's

WA

Seattle

$1,245,000

$1,150,000

133

41

26

35

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 | AUGUST 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

27

1 8

0

12

0

3

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

49 27

3

45

6 24

3

37

3 31

6

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

29

10

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

1

61

2

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

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

Total Sales Ratio2: 11%

6

$3,250,000 - $3,499,999 $3,000,000 - $3,249,999

Buyer's Market 34

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

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

Total Sales: 53 19

1

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

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

Total Inventory: 483

41

5

39

4

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0-1 Bedrooms

NA

NA

NA

0

3

0%

2 Bedrooms

NA

NA

NA

0

7

0%

3 Bedrooms

$2,750,000

49

4

9

48

19%

4 Bedrooms

$2,890,000

36

5

30

239

13%

5 Bedrooms

$3,637,500

26

6

12

139

9%

6+ Bedrooms

$2,670,000

43

4

2

40

5%

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

$3,135,000

$2,980,000

$3,075,000

575

550

$3,000,000

$3,019,000

492

403

79

Aug-18

Sep-18

82 Oct-18

59

18

Nov-18

Dec-18

$2,938,953

18

Jan-19

$3,175,000

Solds

$3,012,000

44

39

Feb-19

Mar-19

$3,222,000

$3,010,000

593

574

499

474

391

346

287 42

$2,785,500

Inventory

97

Apr-19

125

$3,150,000

483

84

May-19

$2,900,000

Jun-19

483

53

49

Jul-19

Aug-19

MEDIAN DATA INVENTORY July

SOLDS

August

July

483 VARIANCE: 0 %

49

483

SALE PRICE PER SQFT. July

August

N/A

N/A VARIANCE: N/A

SALES PRICE August

53 VARIANCE: 8 %

SALE TO LIST PRICE RATIO July

August

95.55% 96.23% VARIANCE: 1 %

July

3.15m

$

August

2.90m VARIANCE: -8 % $

DAYS ON MARKET July

August

30

35 VARIANCE: 17 %

TORONTO MARKET SUMMARY | AUGUST 2019 • The Toronto single-family luxury market is a Buyer's Market with an 11% Sales Ratio.

• Homes sold for a median of 96.23% of list price in August 2019.

• The most active price band is $2,700,000-$2,799,999, where the sales ratio is 34%.

• The median luxury sales price for single-family homes has decreased to $2,900,000.

• The median days on market for August 2019 was 35 days, up from 30 in July 2019.

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

Data reported includes Active and Sold properties and does not include Pending properties. All prices are listed in CAD. 3

4

TORONTO

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | AUGUST 2019 Inventory

Sales

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

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

5

0

$4,000,000 - $4,999,999 $3,000,000 - $3,999,999

6

0

Total Inventory: 475

5

1

Total Sales: 128

4 25

7

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

32

10

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

77

18

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

20

11

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

36

7

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

28

6

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

39

10 15

5

$950,000 - $999,999

67

24

$915,000 - $949,999

1

Total Sales Ratio2: 27%

50

$1,750,000 - $1,999,999

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

Seller's Market

20

0

50

25

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

$1,136,000

14

2

8

33

24%

2 Bedrooms

$1,100,000

14

2

95

314

30%

3 Bedrooms

$1,035,000

19

3

24

122

20%

4 Bedrooms

$1,280,000

14

3

1

6

17%

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

$1,195,000

$1,175,000

$1,150,000

478

476

$1,180,000

$1,200,000

386

359

Aug-18

133

133

Sep-18

Oct-18

115

Nov-18

$1,190,000

69 Dec-18

$1,140,500

72 Jan-19

$1,129,000

Solds

$1,192,500

108 Feb-19

528

172

130

Mar-19

$1,125,000

$1,115,000

481

447

355

311

266 114

Inventory

Apr-19

$1,125,000

490 231

May-19

475

459

172

Jun-19

$1,099,500

151

Jul-19

128

Aug-19

MEDIAN DATA INVENTORY July

August

459

475 VARIANCE: 3 %

SALE PRICE PER SQFT. July

August

N/A

N/A VARIANCE: N/A

SOLDS July

SALES PRICE August

151

128 VARIANCE: -15 % SALE TO LIST PRICE RATIO July

August

98.07% 98.62% VARIANCE: 1 %

July

1.13m

$

August

1.10m VARIANCE: -2 % $

DAYS ON MARKET July

August

16

15 VARIANCE: -6 %

TORONTO MARKET SUMMARY | AUGUST 2019 • The Toronto attached luxury market is a Seller's Market with a 27% Sales Ratio.

• Homes sold for a median of 98.62% of list price in August 2019.

• The most active price band is $1,200,000-$1,249,999, where the sales ratio is 55%.

• The median luxury sales price for attached homes has decreased to $1,099,500.

• The median days on market for August 2019 was 15 days, down from 16 in July 2019.

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

Data reported includes Active and Sold properties and does not include Pending properties. All prices are listed in CAD. 3

4

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