Georgette Solano Luxury Market Report NOV 19

GEORGETTE

SOLANO L U X U RY MARKET REPORT

LOS ANGELES CITY NOVEMBER 2019

GEORGETTE SOLANO Broker Associate | DRE #01817587 Solano & Associates, Inc. | C21 Allstars

562.222.5847

Georgette@SolanosInc.com www.SolanosInc.com Communication and Accessibility are key. I learn about You; Your Property and Your Goals then develop a system to deliver. The process is focused on you.

Raised in the San Gabriel Valley, I understand the numerous intangible benefits of life in this community, with its unmatched California weather, culture, and diversity. Highly regarded by my clients and professionals in the field, I am well-connected and actively involved in the community. My contacts and life-long residency leverage my enthusiasm and expertise and enhance my client dedication.

My strengths are extensive marketing, advertising strategies, partners, market knowledge, exclusive contact base, and true love of luxury sales. My formula for success is smarter, harder work. I do this by use of innovative technology, continual education, community involvement, listening to my clients and keeping my finger to the pulse of the real estate market.

As your Realtor, I will be an advocate for you. Whether you are buying, selling, or renting, I will work tirelessly to promote your best interests. When you are selling, I will work with you to get you the Maximum value, in the least amount of time, by using state-of-the-art technology, team collaboration, and customized marketing materials which highlight the features and strengths of your home. When you are buying, I will work hard to not only match your wants and needs to your future home; more so, to provide you with the best information and market data to inform and assist you so you can be a well-prepared buyer with the strongest possible negotiating position.

It’ll be a pleasure to work with you.

Sincerely,

Georgette

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 Static Market Leads to Focus on Future Trends There is now an official global trend that has emerged - as prices in the more recognized world-class cities continue to stagnate, demand is growing for luxury properties in secondary cities.

Knight Frank, a leading luxury real estate consultant, recently published a report that shows Moscow toping the global price growth index with a 11.1% growth in the third quarter of 2019. The Russian capital is followed by Frankfurt (10.3%), Taipei (8.9%), Manila (7.4%) and Berlin (6.5%) in the top five…and Bucharest (0.7%) is in the Top 45 for the first time!

This growing trend has become all the more obvious in North America – especially the US – where secondary cities such as Seattle, Richmond (VA), Austin, Nashville, Charlotte, St. Louis, and Denver are reporting markets favorable to luxury sellers. In this month’s report, these single-family home markets are clearly defined in the statistical table.

Looking at the condo market and new markets such as Virginia’s Arlington, Alexandria and Fairfax, the counties of Marin, Ventura and Orange in California, Colorado’s Denver, Boulder and Douglas County and Ontario’s Greater Toronto Areas of Durham and York are also seeing seller markets.

Whether its global or more local, there seems to be a diversification of real estate wealth as the affluent seek to invest their money wisely for the future. There has also been a growing acceptance that political uncertainty is causing a slowing price increase in the majority of the world’s major cities. From increasingly difficult trade relations, political tensions, looming elections to the ongoing conundrum of situations such as Brexit.

What is significant and equally unexpected is that investment in real estate has shied away from traditional safe havens in popular major cities and instead chosen to take a risk in these secondary markets.

In PricewaterhouseCoopers’ (PwC) recent report – Emerging Trends in Real Estate 2019 – they identify the markets of Dallas/Fort Worth, Brooklyn, Orlando, Raleigh/Durham and Nashville as their top five fastest growing markets.

Their report also identifies that Florida is seeing an increase in growth with Tampa Bay, St. Petersburg,

A collection of high-growth luxury secondary markets.

From Left to Right. Top Row: Phoenix, AZ; Atlanta, GA; Las Vegas, NV; Portland, OR. Bottom Row: Austin, TX; Dallas, TX; Miami, FL; Nashville, TN

Miami, and Fort Lauderdale all ranked in the Top 20, and the Texas cities of Austin and San Antonio also join these ranks for another year.

They state that one clear trend is that the luxury real estate market is going to be more volatile in the upcoming years and will be affected by “disruptors” such as politics, taxation, and even the media. For instance, although Seattle is still considered to be an attractive market, it slipped from PwC’s number 1 spot to 16th – so did the intense media focus rather than the dramatic price increases sway public opinion?

Taxation has certainly had a large impact on the luxury market and there has been significant migration from premier markets such as San Francisco, Los Angeles, New York, Chicago, Washington D.C. to markets that offer more favorable rates.

In their recent personal-finance publication, Kiplinger released their analysis on the most tax friendly states, with Wyoming, Nevada, Tennessee, and Florida in their top 5 and Arizona and Washington in the top 10. Texas, Colorado, Virginia and Montana are considered to be tax-friendly and find their rating in the Top 20.

Correlate this information with high growth secondary markets such as Phoenix, Atlanta, Las Vegas, Portland, Austin, Dallas, Miami and Nashville and a pattern clearly reveals itself.

In Canada, growth has a different face. Secondary cities such as Ottawa, Montreal, and Quebec City are all predicted to see growth in their housing index between 3 - 6%, but instead of only looking for new markets, personal capital is being invested in improving and redevelopment of existing assets.

Investors in Canada seeking to optimize their portfolios are learning to pivot as well as act quickly to extract the most out of opportunities – whether it’s to get the right price, find a “different” type of project, or invest in a new market.

Like their US counterparts, investors in Canadian real estate are looking to diversify to maximize their real estate opportunities. But whereas diversifying in the US is often seen as owning numerous properties in different locations, in Canada diversification has pushed into the opportunity of redevelopment with focus on greater density. For instance, the conversion of large estate homes into smaller multi-family luxury residences is very prevalent in Vancouver and Toronto.

PwC’s report also identified a significant Canadian trend that has enabled affluent entrepreneurs

to further diversify their assets. Investors are starting to form more strategic partnerships or joint ventures – this has allowed them to limit their risk while increasing the opportunity of taking on more complex projects.

One common trait that is crucial to the future of investing in real estate, irrespective of its location, is the evolving demand for digital and technology integration from both a work and living aspect. Whether this is in the infrastructure of homes or its use in determining new opportunities, not recognizing its power in today’s real estate would be a mistake.

Predictive modeling has become an integral part of global companies looking to expand their operations and has been the reason for many headquarter relocations. Considering the affordability, workforce, liveability, infrastructure are just some the parameters that have determined the choice to move to these secondary markets.

Likewise, the demand by the affluent to integrate more sophisticated technology into their homes is growing exponentially. The desire to use the digital world is driven by the need to simplify the management of these homes, coupled with a need to live in an environment that provides for their wellness.

As a caveat to the trends described in this report, in particular the growth of secondary markets, it should be noted that although major cities are seeing an overall slowing in price increases and sales, that within each market there will always be pockets of demand that contradict.

The art of selling and buying in this market needs a critical and analytical approach, understanding the realities and setting expectations accordingly will ensure that goals are achieved. The most lucrative real estate niches largely depend on market trends and shifting buying interests, but there are always longtime 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 lifestylespecific niche your property offers, in line with trends, it can be marketed effectively to connect with the right potential buyers.

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 lifestylespecific 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.

DAYS ON MARKET

80

60

54 46

40

56

49

63

58

45

46

42

53

48

55

38

43

35 35

31

37

43

52

46

39

48

39

38

32

20

0

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

$493 $372

$478 $359

$502 $336

$500 $346

$374

$357

$384

$360

$466

$498

$533 $468

$486 $356

$481

$478 $371

$300

$342

$457 $365

$400

$485

$500

$341

PRICE PER SQUARE FOOT

$600

$200

$100

$0

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

SEP

OCT

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

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

Discrepancies between statistics published between the October 2019 and November 2019 Luxury Market Reports are due to the addition of Coastal Connecticut, Central Connecticut, and Richmond, VA.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month September 2019 | October 2019

SINGLE-FAMILY HOMES September

October

September

October

47,648

46,535

Median List Price

$1,634,975 $1,624,750

Total Inventory

Median Sale Price

$1,308,484 $1,364,500

New Listings

12,196

11,154

6,429

6,794

46

52

3,716

3,789

Median SP/LP Ratio

97.17%

96.74%

Total Sold

Total Sales Ratio

13.49%

14.60%

Median Days on Market

$359

$372

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





1,042

365

New Listings

Total Sold





6

1.11%

Med. Sale Price

Days on Market

Sales Ratio

56,016

$



SINGLE-FAMILY HOMES MARKET SUMMARY | OCTOBER 2019 •

Official Market Type: Buyer's Market with a 14.60% Sales Ratio.1

•

Homes are selling for an average of 96.74% of list price.

•

The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,364,500.

•

Markets with the Highest Median Sales Price: Santa Barbara ($4,262,500), LA Beach Cities ($3,597,500), Vail ($3,550,000), and Vancouver ($3,333,333).

•

Markets with the Highest Sales Ratio: Seattle (45%), San Francisco (42%), Richmond (40%), and Silicon Valley (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 September 2019 | October 2019

ATTACHED HOMES September

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

October

$1,030,000 $1,038,000

September

October

17,066

17,461

New Listings

4,914

4,808

2,377

2,544

38

48

2,071

2,024

Total Inventory

$888,750

$871,250

98.08%

98.22%

Total Sold

13.93%

14.57%

Median Days on Market

$478

$493

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





106

167

New Listings

Total Sold





Med. Sale Price

Days on Market

17,500

$

10



0.64% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | OCTOBER 2019 •

Official Market Type: Buyer's Market with a 14.57% Sales Ratio.1

•

Attached homes are selling for an average of 98.22% of list price.

•

The median luxury threshold2 price is $702,450, and the median attached luxury sale price is $871,250.

•

Markets with the Highest Median Sales Price: Vail ($3,200,000), San Francisco ($2,353,125), Maui ($1,930,000), and Greater Boston ($1,900,000).

•

Markets with the Highest Sales Ratio: Arlington & Alexandria (73%), Silicon Valley (61%), LA The Valley (59%), and GTA-Durham (55%).

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

$1,042,500

714

211

72

52

Buyer's

AZ

Paradise Valley

$2,995,000

$2,425,000

211

58

9

237

Buyer's

AZ

Phoenix

$749,000

$634,235

699

219

197

68

Seller's

AZ

Scottsdale

$1,695,000

$1,445,000

847

222

77

117

Buyer's

AZ

Tucson

$747,000

$630,000

695

192

105

23

Balanced

BC

Okanagan Valley

$1,600,000

$1,420,000

695

96

29

80

Buyer's

BC

Vancouver

$3,998,000

$3,333,333

1,151

251

57

46

Buyer's

BC

Victoria

$1,890,000

$1,433,000

401

97

54

56

Buyer's

CA

Los Angeles Beach Cities

$4,897,500

$3,597,500

424

101

52

42

Buyer's

CA

Los Angeles City

$4,149,000

$3,260,000

985

303

127

36

Buyer's

CA

Los Angeles The Valley

$2,095,000

$1,772,500

615

221

146

33

Seller's

CA

Marin County

$4,200,000

$2,800,000

137

17

41

28

Seller's

CA

Napa County

$3,400,000

$2,475,000

153

17

20

128

Buyer's

CA

Orange County

$2,499,894

$1,950,000

1,590

330

261

50

Balanced

CA

Palm Springs & Palm Desert

$1,787,000

$1,375,000

473

141

28

64

Buyer's

CA

Placer County

$999,995

$899,500

241

52

58

50

Seller's

CA

Sacramento

$782,000

$720,000

886

282

288

27

Seller's

CA

San Diego

$2,180,000

$1,640,000

1,241

351

275

34

Seller's

CA

San Francisco

$4,095,000

$3,250,000

104

28

44

14

Seller's

CA

Santa Barbara

$3,922,500

$4,262,500

328

58

26

108

Buyer's

CA

Silicon Valley

$3,954,000

$3,250,000

350

146

121

14

Seller's

CA

Ventura County

$1,760,000

$1,377,500

389

116

74

62

Balanced

CO

Boulder

$1,649,500

$1,303,500

268

69

44

64

Balanced

CO

Denver

$950,000

$825,500

1,215

373

389

20

Seller's

CO

Douglas County

$1,250,000

$1,095,000

314

67

66

40

Seller's

CO

Vail

$4,895,000

$3,550,000

125

8

7

96

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

CT

Central Connecticut

$649,900

$572,000

520

80

64

66

Buyer's

CT

Coastal Connecticut

$1,695,000

$1,355,000

1,568

206

90

119

Buyer's

DC

Washington D.C.

$2,997,900

$2,745,000

82

23

4

49

Buyer's

$2,292,500

$1,828,500

564

94

29

126

Buyer's

$1,600,000

$1,369,000

81

12

8

115

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$1,325,000

$930,000

1,629

332

129

92

Buyer's

FL

Jacksonville Beaches

$1,250,000

$1,200,077

336

52

25

87

Buyer's

FL

Miami

$1,299,000

$1,000,000

1,467

262

78

160

Buyer's

FL

Naples

$2,000,000

$1,625,000

713

131

43

103

Buyer's

FL

Orlando

$1,600,000

$1,373,587

470

69

41

128

Buyer's

FL

Palm Beach Towns

$3,392,500

$1,950,000

370

64

23

91

Buyer's

FL

Sarasota & Beaches

$1,697,500

$1,360,000

564

107

35

106

Buyer's

FL

Tampa

$789,750

$676,000

882

187

133

52

Balanced

GA

Atlanta

$1,150,000

$1,249,950

1,318

321

104

48

Buyer's

HI

Kauai

$2,590,000

$1,270,000

119

14

9

153

Buyer's

HI

Maui

$3,300,000

$2,612,500

191

21

20

218

Buyer's

HI

Oahu

$3,200,000

$2,365,000

265

39

18

38

Buyer's

IL

Chicago

$1,229,000

$1,007,500

1,909

435

200

106

Buyer's

IN

Hamilton County

$749,900

$653,750

307

60

58

76

Balanced

MA

Greater Boston

$3,495,000

$2,700,000

169

44

23

57

Buyer's

MD

Montgomery County

$1,795,000

$1,479,250

371

85

62

27

Balanced

MD

Talbot County

$1,795,000

$1,275,000

119

10

9

67

Buyer's

MD

Worcester County

$899,000

$877,000

53

6

6

37

Buyer's

MI

Oakland County

$722,450

$620,000

1,296

396

161

37

Buyer's

MO

St. Louis

$752,450

$619,000

212

55

55

59

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

$899,900

$787,250

901

193

234

40

Seller's

NC

Raleigh-Durham

$719,900

$685,000

1,093

204

215

3

Balanced

NJ

Ocean County

$890,000

$807,500

733

146

82

84

Buyer's

NV

Las Vegas

$737,468

$610,000

1,681

440

291

44

Balanced

NV

Reno

$1,350,000

$1,220,654

140

21

21

98

Balanced

NY

Brooklyn

$1,599,000

$1,450,000

276

55

18

99

Buyer's

NY

Staten Island

$1,199,999

$1,087,500

217

40

14

98

Buyer's

ON

GTA - Durham

$1,599,000

$1,384,500

277

114

26

28

Buyer's

ON

GTA - York

$2,348,000

$1,775,000

831

313

77

29

Buyer's

ON

Toronto

$3,449,000

$3,050,000

574

283

80

16

Buyer's

TN

Knox County

$775,000

$651,000

241

41

39

50

Balanced

TN

Nashville

$1,285,000

$951,000

262

93

56

9

Seller's

TX

Austin

$1,049,000

$790,000

640

174

197

33

Seller's

TX

Collin County

$699,824

$650,000

916

191

123

78

Buyer's

TX

Dallas

$995,000

$915,000

960

224

127

52

Buyer's

TX

Fort Worth

$875,000

$745,000

845

186

137

51

Balanced

TX

Houston

$825,000

$750,000

2,072

560

259

44

Buyer's

TX

The Woodlands & Spring

$820,000

$711,000

484

111

64

51

Buyer's

UT

Park City

$3,395,000

$2,248,994

257

36

32

116

Buyer's

VA

Arlington & Alexandria

$1,899,000

$1,695,000

109

37

11

27

Buyer's

VA

Fairfax County

$1,699,000

$1,390,000

549

117

59

42

Buyer's

VA

McLean & Vienna

$1,899,999

$1,789,000

243

58

21

39

Buyer's

VA

Richmond

$840,109

$776,500

287

72

116

28

Seller's

WA

Greater Seattle

$1,899,925

$1,575,000

850

227

278

17

Seller's

WA

Seattle

$1,799,950

$1,450,000

271

87

123

13

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

$822,748

$837,500

298

86

24

49

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$750,000

$627,500

226

59

52

56

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,850,000

$1,618,000

833

275

63

28

Buyer's

BC

Victoria

$799,900

$749,900

311

98

49

35

Balanced

CA

Los Angeles Beach Cities

$1,785,000

$1,390,000

215

68

63

23

Seller's

CA

Los Angeles City

$1,495,000

$1,175,000

381

127

73

22

Balanced

CA

Los Angeles The Valley

$725,000

$665,875

122

70

72

33

Seller's

CA

Marin County

$1,287,000

$1,465,000

20

7

9

30

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$999,999

$980,000

445

136

107

46

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,081,375

$871,250

598

209

136

36

Seller's

CA

San Francisco

$2,700,000

$2,353,125

157

37

46

15

Seller's

CA

Santa Barbara

$1,847,500

$1,362,500

52

7

4

21

Buyer's

CA

Silicon Valley

$1,409,495

$1,410,000

122

60

75

12

Seller's

CA

Ventura County

$781,450

$692,000

66

32

24

66

Seller's

CO

Boulder

$819,000

$730,450

81

31

19

68

Seller's

CO

Denver

$674,950

$617,000

608

191

217

29

Seller's

CO

Douglas County

$610,000

$660,000

19

2

7

126

Seller's

CO

Denver

$674,950

$617,000

608

191

217

29

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

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$777,000

$642,500

280

56

32

95

Buyer's

DC

Washington D.C.

$1,795,000

$1,535,000

209

70

48

9

Seller's

$959,000

$677,500

444

114

26

73

Buyer's

$1,329,000

$742,500

145

23

12

159

Buyer's

$875,000

$775,000

1,240

204

41

147

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

FL

Jacksonville Beaches

$1,062,500

$1,025,000

50

12

3

231

Buyer's

FL

Miami

$1,038,000

$900,000

2,896

420

71

137

Buyer's

FL

Naples

$2,195,000

$1,900,000

259

67

13

164

Buyer's

FL

Orlando

$671,865

$649,000

80

22

7

94

Buyer's

FL

Palm Beach Towns

$1,450,000

$1,900,000

370

71

17

153

Buyer's

FL

Sarasota & Beaches

$1,397,275

$1,118,500

248

62

14

76

Buyer's

FL

Tampa

$699,950

$580,000

122

34

19

90

Balanced

GA

Atlanta

$675,000

$630,000

622

183

91

35

Buyer's

HI

Kauai

$1,472,500

$1,008,000

86

12

4

81

Buyer's

HI

Maui

$1,795,000

$1,930,000

139

25

22

493

Balanced

HI

Oahu

$1,290,000

$1,115,000

425

64

41

48

Buyer's

IL

Chicago

$1,150,000

$975,000

1,069

308

117

82

Buyer's

IN

Hamilton County

-

-

-

-

-

-

-

MA

Greater Boston

$2,295,000

$1,900,000

316

90

42

34

Buyer's

MD

Montgomery County

$774,995

$715,000

184

82

45

21

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$598,000

$775,000

115

15

5

60

Buyer's

MI

Oakland County

$699,900

$604,385

69

25

5

8

Buyer's

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

$730,000

$667,003

163

52

22

55

Buyer's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$669,000

$563,500

125

21

10

55

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,319,000

$1,052,500

651

123

74

49

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - Durham

$678,950

$629,000

60

39

33

11

Seller's

ON

GTA - York

$858,000

$839,000

303

216

134

16

Seller's

ON

Toronto

$1,268,000

$1,150,000

599

450

228

13

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$885,000

$690,000

95

31

25

13

Seller's

TX

Austin

$799,386

$646,000

213

62

25

21

Buyer's

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$747,000

$804,500

214

55

22

74

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$646,450

$540,000

194

64

13

43

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,889,850

$1,835,000

148

15

24

58

Balanced

VA

Arlington & Alexandria

$1,249,000

$918,000

62

30

45

9

Seller's

VA

Fairfax County

$719,894

$669,500

186

79

74

14

Seller's

VA

McLean & Vienna

$1,242,500

$890,000

36

13

5

81

Buyer's

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,099,973

$1,175,000

210

59

50

43

Seller's

WA

Seattle

$1,195,000

$1,161,500

140

37

30

42

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.

Luxury is in each detail.

Hubert de Givenchy

L O S A N G EL E S CITY C ALI F O R N I A –November 2019–

LA - CITY

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | OCTOBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $2,100,000 $20,000,000+ $14,100,000 - $19,999,999 $10,100,000 - $14,099,999

3

Total Sales Ratio2: 13% 44

5

62

3

66

7

86

14

$3,500,000 - $3,899,999

69

6

$3,100,000 - $3,499,999

82

16

$2,700,000 - $3,099,999

93

19 57

5

74

13

$2,100,000 - $2,299,999

1

Buyer's Market

39

$3,900,000 - $4,499,999

$2,300,000 - $2,499,999

Total Sales: 127

49

4

$4,500,000 - $5,299,999

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

Total Inventory: 985

48

3

$6,100,000 - $7,099,999 $5,300,000 - $6,099,999

56

4

$8,100,000 - $10,099,999

$7,100,000 - $8,099,999

80

5

80

20

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$2,404,000

4

3

36

194

19%

3,000 - 3,999

$2,920,000

4

5

31

210

15%

4,000 - 4,999

$3,750,000

5

5

23

176

13%

5,000 - 5,999

$4,820,079

5

6

12

102

12%

6,000 - 6,999

$5,775,000

5

7

8

70

11%

7,000+

$14,887,945

6

9

14

161

9%

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.

LA - CITY

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$3,100,000

$3,090,000

929

$3,050,000

922

106

Oct-18

93

Nov-18

Dec-18

$3,115,000

876

790

669 125

$2,822,500

64 Jan-19

$3,207,500

Inventory

$3,100,000

Feb-19

964

953

856

86

$3,050,000

Mar-19

$2,925,000

$3,000,000

1,022

1,070

165

123

116

Solds

Apr-19

May-19

139 Jun-19

$3,052,500

961

128

$3,310,000

985

940

128

Jul-19

$3,260,000

Aug-19

127

122

Sep-19

Oct-19

MEDIAN DATA INVENTORY September

October

940

985 VARIANCE: 5 %

SALE PRICE PER SQFT. September

October

907

$

933 VARIANCE: 3 % $

SOLDS September

October

122

127 VARIANCE: 4 %

SALE TO LIST PRICE RATIO September

October

96.68% 97.17% VARIANCE: 1 %

SALES PRICE September

3.31m

$

October

3.26m VARIANCE: -2 % $

DAYS ON MARKET September

October

45

36 VARIANCE: -20 %

LA - CITY MARKET SUMMARY | OCTOBER 2019 • The LA - City single-family luxury market is a Buyer's Market with a 13% Sales Ratio.

• Homes sold for a median of 97.17% of list price in October 2019.

• The most active price band is $2,100,000-$2,299,999, where the sales ratio is 25%.

• The median luxury sales price for single-family homes has decreased to $3,260,000.

• The median days on market for October 2019 was 36 days, down from 45 in September 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

LA - CITY

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | OCTOBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $992,799 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,500,000 - $3,999,999

3

0

$2,000,000 - $2,499,999 $1,750,000 - $1,999,999

Total Inventory: 381 4

1

Total Sales: 73 Balanced Market

10

1

$3,000,000 - $3,499,999 $2,500,000 - $2,999,999

33

1

2

19

1

28

2

31

3

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

31

5

$1,250,000 - $1,499,999 $1,200,000 - $1,249,999

15

4

14 15

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

8

9 33

4

$992,799 - $1,049,999

1

97

15

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

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

Total Sales Ratio2: 19%

19

35

11

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$1,115,000

1

1

1

5

20%

1,000 - 1,599

$1,150,000

2

3

23

78

29%

1,600 - 2,199

$1,194,994

3

3

36

151

24%

2,200 - 2,799

$1,675,000

2

3

9

91

10%

2,800 - 3,399

$2,684,000

3

3

1

24

4%

3,400+

$4,250,000

4

5

3

29

10%

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.

LA - CITY

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$1,334,500

$1,281,500

386

$1,264,500

364

Oct-18

66

64

Nov-18

Dec-18

$1,260,000

32

Jan-19

$1,257,750

31 Feb-19

$1,240,000

$1,182,500

370

332

327

304

274 78

$1,326,000

Inventory

Solds

$1,292,500

403

391

370

76

84

69

Mar-19

Apr-19

May-19

$1,225,000

$1,189,000

68 Jun-19

386

90

Jul-19

$1,290,000

384

$1,175,000

381

79

81

Aug-19

Sep-19

73 Oct-19

MEDIAN DATA INVENTORY September

October

384

SOLDS September

October

381 VARIANCE: -1 %

73 VARIANCE: -10 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

September

October

725

$

700 VARIANCE: -3 % $

81

September

October

98.53% 98.22% VARIANCE: 0 %

SALES PRICE September

1.29m

$

October

1.18m VARIANCE: -9 % $

DAYS ON MARKET September

October

21

22 VARIANCE: 5 %

LA - CITY MARKET SUMMARY | OCTOBER 2019 • The LA - City attached luxury market is a Balanced Market with a 19% Sales Ratio.

• Homes sold for a median of 98.22% of list price in October 2019.

• The most active price band is $1,150,000-$1,199,999, where the sales ratio is 107%.

• The median luxury sales price for attached homes has decreased to $1,175,000.

• The median days on market for October 2019 was 22 days, up from 21 in September 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

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 562.222.5847

- Georgette Solano

GEORGETTE SOLANO

562.222.5847 | Georgette@SolanosInc.com | www.Solanosinc.com