A Seller’s
PERSPECTIVE With the onset of the spring buying season, luxury home sellers are rightly questioning if it’s the right time to put their homes on the market. Will they get their asking price? If they do sell, where will they move? The locations that currently offer the best opportunities for sellers are those that are balanced – i.e., most of them can achieve their full asking price based on fair market value (or close to it) and have enough available home inventory to be able to find a replacement home in the same market. In many luxury home markets across the country, sellers can get close to asking prices since luxury home inventory is still not at a level that’s favorable to buyers. To determine which markets rank highest as seller opportunity markets, we measured the SP/LP% of sold homes and buyer demand against the increase of available inventory in the last four months of 2022. The markets that presented the best prospects for sellers were closest to an SP/LP% of 100% and where end-of-year inventory levels increased by over 34% since August 2022 (which is the national average increase of inventory).
