MOUNTAINTURNERJADALUXURYMARKETREPORTSMITHLAKESEPTEMBER2022
Jada Turner services the Smith Mountain Lake and surrounding counties, where she has resided for twenty two years. To Jada, every transaction in real estate is an opportunity to help her clients achieve their personal real estate dream.
Jada specializes in professional and individualized marketing plans for her clients. She offers resources to stay on top of the current market trends including quarterly and annual market reports and consumer guides. Her free in person or virtual seminars and workshops provide invaluable insider insight on topics such as: Wealth Building through Real Estate, Downsizing, Preparing a home for a successful sale, and much more.
Associate Broker, ABR, SFR, GRI, CLHMS
TRACK RECORD
-Paul and Lonnie Olimpio
JADA TURNER
MARKET KNOWLEDGE/EXPERTISE
Jada has a proven track record, consistently delivering top producing results for her clients. She is annually awarded a coveted position within the entire worldwide Berkshire Hathaway network, as a top 1% producer. Having participated in hundreds of real estate transactions in her career, Jada is a tough and experienced negotiator offering a high level of expertise for her clients. She typically achieves a 5% higher sales price for her listing clients.
She is known for her outstanding professionalism, consistently delivering five star, first class service as reported by her clients.
With the ever changing Real Estate market, Jada knows she must continuously stay on top of market trends, economic forecasts and community growth and change to stay one step ahead to provide her clients the best advantage. She thinks of herself as a lifelong learner, constantly reading, attending seminars and taking advantage of training opportunities.
“Jada is the prototype of the perfect broker/partner/advocate for her clients” “I was in the real estate industry for 25+ years and had the pleasure of dealing with hundreds of commercial and residential brokers along the way. In my opinion, Jada Turner is the prototype of the perfect broker/partner/advocate for her clients. She knew her market better than any broker I had previously encountered and was so helpful in every aspect of the entire process of selling and buying our home. I would recommend her without hesitation.”
She has a caring, confident personality that shines through in her steadfast efforts to guide her clients. Jada has an innate determination to make the buying and selling process as stress free and comfortable as possible for her clients. Her goal is to create clients for life, often representing generations of a single family.
“The most excellent Broker at the Lake” “We just can’t thank Jada enough for all that she did for us in selling our lake home. She did an amazing job and made it such a pleasant experience from beginning to end because of who she is, caring and warm, respectful of our feelings and needs, sharing her wealth of knowledge, keeping us up to date on all the home showings and gently guiding us to make good decisions! We are so happy that we went to her workshop and found the most excellent broker at the Lake!”
Berkshire Hathaway Homeservices Smith Mountain Lake Real Estate 540.263.0202
www.JadaTurnerRealtor.comJadaATurner@gmail.com
ABOUT
Luxury Collection Specialist
-Doug and Lorraine Conary
22-23 SINGLE-FAMILY HOMES - Monthly Statistics PAGE 24 THANK YOU
10 13-MONTH MARKET TRENDS
17-20 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 21 LOCAL LUXURY MARKET REVIEW
13-16 MONTHLY STATISTICS BY CITY - Single-Family Homes
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11 SINGLE-FAMILY HOMES MONTHLY OVERVIEW
TABLE OF CONTENTS
PAGE 4 LUXURY REPORT EXPLAINED PAGE 5 WELCOME MESSAGE PAGE 6-9 NORTH AMERICAN LUXURY MARKET REVIEW
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12 ATTACHED HOMES MONTHLY OVERVIEW
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REPORT GLOSSARY
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.
NEW LISTINGS: The number of homes that entered the market during the current month.
LUXURY REPORT EXPLAINED
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.
REMAINING INVENTORY: The total number of homes available at the close of a month.
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.
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.
DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.
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.
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.
LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes.
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PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.
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SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
MAP OF LUXURY RESIDENTIAL MARKETS
THIS IS YOUR
LUXURY MARKET REPORT
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.
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 provided by REAL Marketing, who has compiled the data through 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.
Copyright © 2022 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000
NORTH AMERICAN LUXURY REVIEW
The level of inventory may have risen since May 2022, and now approximately 50% higher for single family homes and 18% for attached properties compared to August 2021, but of greater significance is that the number of new listings entering the market has continued to drop since June 2022. Expectations are that these numbers will rise as we enter the fall season, but it seems that some luxury sellers are hesitant to enter the current market.
Market Changes to Consider
Whether the overall luxury real estate market moves towards a balanced or buyer’s market will likely depend on changes in inventory levels and whether the available homes match buyers' demand. Even at the height of the buyer frenzy in spring 2021, homes that were considerably over-priced or needed extensive renovations or repairs often remained unsold.
While it is contended that we are moving towards a buyer’s market, the current data for August 2022 shows that conditions in most luxury markets are still favorable to sellers – of the 140 single-family markets showcased in our report, 106 remain seller markets. However, the sales ratio percentage, which measures the rate of sales against available inventory each month, is trending downwards in most markets month over month, in comparison to 2021 levels.
Over the last few months, the luxury real estate market has experienced the return of a more normal pace for those looking to buy and sell their homes. Recent trends also continue to show a considerable moderation in the number of sales and the rate of price increases, which has certainly taken the pressure off the market.
Demand for move-in-ready properties remains a top priority for affluent buyers who have little time or desire to embark on any more than simple updating projects. As we highlighted last month, properties that are fully furnished, down to kitchen utensils, dishware, and all the soft furnishings, are highly prized, often seeing some of the shortest days on the market.
The drop in new listings might be explained as, traditionally, summer months do see fewer homes enter the market as families take time to vacation. However, according to Danielle Halle, Chief Economist at Realtor.com, “even though home prices are near record highs and home equity has soared, homeowners appear to be less eager to list homes for sale compared to last year. Recent survey data shows that while home sellers are in a good position, typically getting their list price and still generally satisfied with the price and other aspects of their home sale, some of their (seller) markers have shifted over the last year.”
Sellers are facing several problems, including appraisals not matching the value of their asking price and the return of contract contingencies such as requests for repairs or compensation. In the last year especially, these were not included in buyer contracts because multiple offers and cash buyers mitigated these sorts of requests.
If we are returning to a more traditional real estate cycle, then over the next couple of months, inventory levels should start to increase again, and we may see more luxury markets become balanced or buyer’s markets.
It seems that some sellers are not quite ready to contend with the return of negotiating terms or, depending on their level of wealth, simply do not need to sell, so they are ready to wait until the market becomes more favorable.
As we move into the fall season, we review both new opportunities and trends that homeowners and investors should consider during their property search.
Equally, after two long years of unrest and upheaval, many affluent are content with their purchases and now looking for more stability and continuity. So, expectations are that they might not be ready to sell any time soon. If these affluent purchased using a ‘fixed-term’ low-interest rate mortgage, it is also unlikely that they would trade in these favorable terms if they do not have to sell or move unless a life-changing event occurs.
Return to Urban Living
An increasing number of buyers are starting to return to the larger metropolitan cities for multiple reasons, including simply missing the lifestyle or looking for a potential investment opportunity. This door may close soon, as also in the mix are foreign investors (now that travel restrictions are easing) and first-time buyers heading to urban markets looking for the opportunity to purchase a property. Experts predict that city markets may see stronger returns on investment than their suburban counterparts.
Cities from Vancouver and Toronto in Canada to Atlanta, Austin, Chicago, and San Francisco in the US saw their emerging neighborhoods stall in 2020 as people chose to purchase away from the more crowded metropolitan communities.
Emerging City Neighborhoods
While cities are starting to experience an influx of new and returning buyers, some of the best deals may be found in emerging neighborhoods. Before the pandemic, many of these inner, mid-city communities and industrial areas had been on trend for gentrification.
Today, emerging neighborhoods not only afford buyers better values but have the potential to create greater equity returns. These are ideal for buyers ready to invest in a property for the longer term, understanding that they are buying early and will need to wait for the neighborhood to evolve and mature.
Vacation and second home properties are expected to continue to increase in popularity, especially for those who need escape options from their primary property. The affluent are continuing to seek diversity in their lifestyle, and owning multiple properties, whether in the city, mountains, or beach locations, is an important facet in meeting that requirement.
Time to Diversify
As we enter the latter part of 2022, mainly due to the historic rise in property values over the last 24 months, many affluent are now starting to reprioritize with a keen eye on market stability and potential returns.
Now that remote working is mainstream, there is still an increased focus on investing in real estate that aligns with people’s lifestyle choices.
The answer may lie in reviewing the sales data for the last six months, which reveals that luxury mid-sized homes ranging from 3,000 to 3,500 sq ft are proving to be in the greatest demand for single family homes and 1,500 to 2,000 sq ft for attached properties.
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. For homeowners looking to buy or sell in today’s market, we recommend working with a Realtor who can capitalize on the preferences, trends, and demands in this dynamic and evolving environment.
New Priorities
Which trends will see better investment return; larger estate-sized homes, properties with views, those located on expansive land, or smaller homes closer to amenities, are questions being asked of our luxury real estate professionals.
While people want extra space, they do not want to be overwhelmed with larger debt, especially as interest rates continue to rise. Equally, land and privacy are still important, but as things return to normal, the shift back to living closer to amenities and locations closer to work are becoming the main priority once more.
– 13 - MONTH MARKET TRENDS –Single-Family Homes Attached Homes Single-Family List Price Attached List Price PRICELISTVS.PRICESALESMARKETONDAYS All data is based off median values. Median prices represent properties priced above respective city benchmark prices. FOR THE LUXURY NORTH AMERICAN MARKET 11 13 14 15 15 17 18 13 9 7 7 9 12 16 16 15 12 15 16 18 11 8 8 9 9 13 0 2 4 6 8 10 12 14 16 18 20 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL FOOTSQUAREPERPRICE $492 $486 $504 $501 $498 $535 $516 $526 $543 $526 $540 $550 $538 $376 $392 $397 $400 $396 $415 $410 $420 $421 $443 $438 $431 $430 $0 $100 $200 $300 $400 $500 $600 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL $500,000 $700,000 $900,000 $1,100,000 $1,300,000 $1,500,000 $1,700,000 $1,900,000 $2,100,000 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL Discrepancies in previous month statistics between the August 2022 and September 2022 reports are due to the addition of Whistler, BC.
• Official Market Type: Seller's Market with a 34.84% Sales Ratio.
• The median luxury threshold2 price is $925,000, and the median luxury home sales price is $1,299,000.
SINGLE-FAMILY HOMES MARKET SUMMARY | AUGUST 2022
Median SP/LP Ratio 100.00% 99.17%
• Homes are selling for an average of 99.17% of list price
• Markets with the Highest Sales Ratio: Cleveland Suburbs (131%), Hamilton County (95%), St. Louis (91%) and Howard County (79%).
Median List Price $1,680,750 $1,595,000
Median Price per Sq. Ft. $392 $418
Total Inventory 33,805 51,674
Total Sold 18,947 18,001
A Review of Key Market Differences Year over Year August 2021 | August 2022 Median prices represent properties priced above respective
• Markets with the Highest Median Sales Price: Aspen ($11,500,000), Whistler ($5,550,000), Vail ($4,550,000), and Naples ($4,200,000).
Total Sales Ratio 56.05% 34.84%
1
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New Listings 11,760 16,673
SINGLE-FAMILY HOMES
August 2022August 2021 August 2022August 2021 New Listings Total Sold Days on Market Sales RatioMed. Sale Price 4,913 946 $61,697 5 21.21%
Average Home Size 3,528 3,185 city benchmark prices.
1Sales 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.
Median Days on Market 13 18
– LUXURY MONTHLY MARKET REVIEW –
Median Sale Price $1,360,697 $1,299,000
– LUXURY MONTHLY MARKET REVIEW –
Total Sold 5,124 4,449
Median prices represent properties priced above respective city benchmark prices.
Days on Market 2 $46,250 A Review of Key Market Differences Year over Year August 2021 | August 2022 August 2022August 2021 August 2022August 2021
Total Inventory 12,341 14,665
Median SP/LP Ratio 100.00% 98.92%
Median Days on Market 16 18
Median Price per Sq. Ft. $489 $527
ATTACHED HOMES New Listings Total Sold Sales RatioMed. Sale Price 704 675 11.18% ATTACHED HOMES MARKET SUMMARY | AUGUST 20 22 • Official Market Type: Seller's Market with a 30.34% Sales Ratio.1 • Attached homes are selling for an average of 98.92% of list price. • The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $876,250 • Markets with the Highest Median Sales Price: Aspen ($4,125,000), Vail ($3,250,000), Whistler ($2,342,500), and San Francisco ($2,275,000). • Markets with the Highest Sales Ratio: Santa Barbara (127%), Howard County (122%), Anne Arundel County (91%) and Sussex County Coastal (84%). 1Sales 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.
New Listings 4,137 4,841
Median Sale Price $830,000 $876,250
Median List Price $998,585 $942,225
Average Home Size 1,960 1,843
Total Sales Ratio 41.52% 30.34%
CA San Luis Obispo County $1,875,000 $1,447,500 183 61 74 40 Seller's
$2,250,000 $1,885,000 218 51 40 20 Balanced
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
CA Silicon Valley $3,798,000 $3,287,500 486 224 268 15 Seller's
BC Vancouver $4,500,000 $3,259,000 1144 272 66 25 Buyer's
BC Victoria $2,499,000 $1,950,000 139 55 23 17 Balanced
AZ Scottsdale $1,850,000 $1,755,000 630 185 153 48 Seller's
AB Calgary
CA Lake Tahoe
CA Ventura County $1,992,500 $1,775,000 262 82 103 28 Seller's
AZ Phoenix $849,900 $787,000 873 286 272 41 Seller's
BC Whistler $4,500,000 $5,550,000 55 10 4 41 Buyer's
AZ Flagstaff $1,462,250 $1,272,500 84 24 24 50 Seller's
CA East Bay $2,198,775 $1,869,500 534 272 412 16 Seller's
CA Los Angeles City $4,999,000 $3,500,000 646 187 119 18 Balanced
BC Mid Vancouver Island $1,650,000 $1,465,000 231 86 24 22 Buyer's BC Okanagan Valley $1,790,000 $1,530,000 917 276 65 47 Buyer's
CA Orange County $2,689,000 $2,274,000 1012 335 383 15 Seller's
CA Los Angeles Beach Cities $5,899,000 $3,915,000 297 88 71 12 Seller's
AZ Mesa $847,000 $835,000 216 87 69 33 Seller's
CA Sacramento $949,000 $915,000 668 253 339 19 Seller's
State Market Name
CA Santa Barbara $5,750,000 $3,500,000 123 48 57 11 Seller's
CO Aspen $14,900,000 $11,500,000 105 13 7 76 Buyer's
– LUXURY MONTHLY MARKET REVIEW –
CA Placer County $1,195,000 $1,149,000 256 95 101 21 Seller's
AZ Chandler and Gilbert $1,075,000 $1,000,000 265 89 72 41 Seller's
CA Sonoma County $2,274,500 $1,750,000 214 35 65 36 Seller's
CA Greater Palm Springs $1,849,000 $1,599,000 213 67 78 33 Seller's
$1,099,999 $930,000 537 238 147 23 Seller's
CA Los Angeles The Valley $2,495,000 $2,025,500 468 187 190 20 Seller's
CO Boulder $2,295,000 $1,600,000 201 74 81 49 Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
CA San Francisco $4,495,000 $3,425,000 119 42 55 17 Seller's
AZ Paradise Valley $4,995,000 $3,025,000 110 27 21 74 Balanced
CA Marin County $4,122,500 $2,900,000 118 25 47 17 Seller's CA Napa County $4,309,000 $2,300,000 52 7 22 26 Seller's
CA Central Coast $2,850,000 $2,150,000 240 82 71 20 Seller's
CA San Diego $2,215,000 $1,868,500 933 366 354 15 Seller's
SINGLE-FAMILY HOMES
AZ Tucson $718,000 $655,000 723 237 261 15 Seller's
CO Colorado Springs $935,000 $844,500 471 146 146 13 Seller's
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
FL Coastal Pinellas County $2,387,500 $2,275,000 90 18 17 35 Balanced
DC Washington D.C. $4,495,000 $2,650,000 46 7 17 8 Seller's
HI Island of Hawaii $1,972,500 112 19 17 26 Balanced
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
$1,545,000 $1,328,000 535 199 276 13
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's
CO Telluride
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
$6,500,000 $3,797,500 83 10 6 55 Buyer's
FL Greater Fort Lauderdale $1,055,000 21 Balanced
GA Atlanta $1,475,000 $1,167,500 639 234 250 8
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
HI Oahu $3,000,000 $2,200,000 196 51 55 17
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
FL Sarasota & Beaches $2,950,000 $2,200,000 251 49 49 35 Balanced
FL Space Coast $850,000 $770,000 339 138 153 12
$1,749,000 $1,555,000 211 136 46 14 Seller's ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
TX Dallas
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
CO Durango $1,250,000 119 22 25 56 Seller's
$1,300,000 $1,004,001 450 209 186 11 Seller's
TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
FL Miami $1,950,000 $1,350,000 890 223 118 Buyer's
FL Jacksonville Beaches $1,472,125 $1,150,000 298 91 93 30
ID Northern Idaho $1,600,000 $1,325,000 515 137 58 64 Buyer's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
IL Chicago $1,498,888 $1,349,000 637 225 379
IL DuPage County $1,189,000 $955,000 313 99 161 11 Seller's
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DE Sussex County Coastal $1,399,950 $1,189,677 163 46 44 5
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
ID Ada County $779,900 $759,450 985 338 316 14
CT Central Connecticut $699,900 $619,725 375 79 276 7
FL Palm Beach Towns $3,087,500 $2,487,500 228 46 26 17 Buyer's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
FL Weston $1,275,000 $1,026,100 113 35 37 18
HI Kauai $2,850,000 45 9 6 11 Buyer's
FL South Pinellas County $1,595,000 $1,497,500 244 71 56 17
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
State Market Name
FL Boca Raton/Delray Beach $2,699,500 $2,000,000 442 109 67 23 Balanced
FL Lee County $1,399,900 $1,375,000 546 141 113 24 Balanced
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
LUXURY MONTHLY MARKET REVIEW –
CO Douglas County $1,349,950 $1,167,500 264 84 140 16
CT Coastal Connecticut $2,275,000 527 119 254 26
CO Vail $4,590,000 $4,550,000 83 15 11 31
FL Naples $4,985,000 $4,200,000 232 35 39 29 Balanced
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
ON GTA - Durham
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
CO Denver
CO Summit County 87 20 15 13
FL Marco Island $2,560,000 $2,162,500 91 15 16 54 Balanced
GA Duluth $1,575,000 21 7 8 24
FL Orlando $1,250,000 $1,135,000 678 176 185 13
HI Maui $3,188,000 $1,947,500 137 32 26 81 Balanced
FL Tampa $750,000 $675,000 1251 463 431 8 Seller's
SINGLE-FAMILY HOMES
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
FL South Walton $2,340,000 $2,100,000 400 85 59 33 Buyer's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
ON GTA - Durham
MD Montgomery County $1,899,228 $1,510,000 166 45 129 7
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
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NC Asheville $1,000,000 $872,092 247 84 115 11
NC Charlotte $1,125,000 $907,500 606 207 378 6
MN Olmsted County $824,900 $670,000 75 14 27 11
IL Will County $687,450 $625,000 230 101 9
$1,150,000 $919,500 279 96 158 9
$717,000 $621,250 224 92 98 9
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
NV Lake Tahoe $3,450,000 $2,565,000 159 23 19 105 Buyer's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
MO St. Louis 100 44 91 6
NY Finger Lakes $2,200,000 $1,290,000 31 12 8
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
MD Talbot County $2,422,500 $2,457,500 40 8 2 36 Buyer's
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
$1,749,000 $1,555,000 211 136 46 14 Seller's ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
NY Nassau County $1,877,500 $1,410,000 736 155 221 21
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
MD Frederick County $889,000 $860,000 61 22 27 10 Seller's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
MD Howard County $1,149,990 $1,061,000 107 49 85 6
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
MD Worcester County $995,000 $902,500 53 13 18 38
LUXURY MONTHLY MARKET REVIEW –
IL Lake County
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
MD Anne Arundel County
NM Taos $992,500 79 18 8 54 Buyer's
NV Reno $1,900,000 $1,575,000 36 15 52 Buyer's
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
MN Twin Cities $1,200,000 $973,390 691 211 276 14
NJ Ocean County $909,900 $830,000 470 163 153 13
SINGLE-FAMILY HOMES
Oakland County $725,000 $650,000 908 342 412 13 Washtenaw County $892,500 162 48 6 Seller's Wayne County
State Market Name
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
Livingston County $707,500 121 38 40 16
MA Cape Cod $2,350,000 $1,837,500 30 38 21
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
OH Cincinnati $874,950 $750,000 190 40 112 2 Seller's
TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
NV Las Vegas $1,650,000 790 223 108 26 Buyer's
MO Kansas City $662,843 1368 296 560 4
NC Lake Norman $1,185,000 $948,550 212 70 86 11 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
Monroe County $599,999 $615,000 17 5 6 19
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
MA Greater Boston $3,224,500 $2,700,000 82 18 26 Seller's
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
KS Johnson County $817,160 $804,000 362 186 3 Seller's
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
NY Staten Island $1,250,000 $1,098,000 182 39 27 40 Buyer's
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
$1,000,000 $935,419 160 60 112 8
MA South Shore 64 19 50 22
IN Hamilton County $849,950 $750,000 140 48 133 5 Seller's
NY Suffolk County $1,950,000 $1,247,500 911 206 202 24
NC Raleigh-Durham $1,067,000 $925,000 512 173 255 4
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
State Market Name
SC Hilton Head $2,095,000 $1,432,500 231 38 48 11 Balanced
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
Arlington & Alexandria $2,299,000 $1,885,000 71 24 26 9
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
$650,000 $679,393 29 6 38 25 Durham $1,810,000 $1,551,750 189 118 56 18
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
Denton County 1023 324 410 14 Seller's
Collin County $750,000 $710,000 1355 620 17
SINGLE-FAMILY HOMES
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
LUXURY MONTHLY MARKET REVIEW –
Fairfax County $2,098,950 $1,449,900 316 90 141 11
Fort Worth $849,995 $799,000 890 290 435 13
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
Dallas $1,333,698 $1,095,000 398 136 183 13
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
Houston $949,989 $837,000 1071 339 285 10
Cleveland Suburbs
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
$1,749,000 $1,555,000 211 136 46 14 Seller's ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
UT Salt Lake City $1,195,000 $992,500 460 186 178 22
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
–
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's
GTA - York $2,499,000 $1,809,000 470 257 182 17 Seller's Hamilton $1,849,000 245 101 31 32 Buyer's Mississauga $2,337,500 108 53 30 22
Charlottesville $1,300,000 $1,021,500 134 24 44
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
QC Montreal $1,898,000 $1,530,000 97 91 18 61 Balanced
Greater Tyler $800,000 189 109 57 16
San Angelo $649,500 $565,000 54 20 17 49
VA Smith Mountain Lake $1,637,475 24 6 13
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
ON GTA - Durham
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
Oakville $2,460,000 113 58 26 24 Seller's Toronto $3,798,888 341 147 67 20 Balanced
El Paso $615,000 147 42 45 20
OR Portland $1,317,995 $1,140,500 595 200 244 9 Seller's
WA Spokane $1,162,500 $1,100,000 130 51 33 33 Seller's
TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's
Lubbock $619,000 95 50 40 56
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
Richmond $799,000 $775,000 304 94 179 6
The Woodlands & Spring $849,450 $765,000 206 104 151 9 Seller's Park City $4,650,000 $2,625,000 198 40 18 22 Buyer's
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
McLean & Vienna $2,824,950 $1,701,849 136 35 44 13
TN Nashville $1,650,000 $1,246,500 626 205 210 8
Seattle $1,850,000 $1,718,000 235 125 132 7
King County - Greater Seattle $1,850,000 $1,650,000 1105 480 559 11
Greater Chattanooga $998,950 $852,500 202 71 58
Austin $1,075,713 $1,021,000 1126 347 307 18
San Antonio $798,412 677 210 187 22
ON Waterloo Region $1,299,000 128 74 51 19
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
AZ Flagstaff
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.
AZ Mesa
AB Calgary $750,000 $695,000 153 41 25 39 Balanced
BC Mid Vancouver Island $848,950 $802,500 62 21 10 39 Balanced
AZ Scottsdale $875,000 $790,000 193 63 47 34 Seller's
BC Victoria $999,000 $892,500 124 72 42 16 Seller's BC Whistler $2,635,250 $2,342,500 36 9 2 62 Buyer's
CA Marin County $1,297,500 $1,150,000 34 9 19 24 Seller's CA Napa County
BC Okanagan Valley
BC Vancouver $1,988,500 $1,769,000 906 265 80 27 Buyer's
CA Ventura County $750,000 $785,000 113 53 50 16 Seller's
AZ Tucson
$1,625,000 $880,000 25 6 3 48 Buyer's
CO Boulder $871,470 $1,127,500 63 28 40 67 Seller's CO Colorado Springs
AZ Chandler and Gilbert
CA Los Angeles Beach Cities $1,897,000 $1,775,000 156 52 71 18 Seller's CA Los Angeles City $1,699,500 $1,434,000 338 122 86 24 Seller's CA Los Angeles The Valley $789,000 $825,000 153 76 83 17 Seller's
CA Central Coast $1,275,000 $1,025,000 25 10 21 14 Seller's CA East Bay $999,970 $1,072,500 166 90 134 14 Seller's CA Greater Palm Springs
LUXURY MONTHLY MARKET REVIEW –
CA Sacramento
CA Lake Tahoe
$1,100,000 $1,043,500 345 163 212 12 Seller's
CA Orange County $1,200,000 $1,160,000 368 158 220 15 Seller's CA Placer County
–
AZ Phoenix
CA San Francisco $2,750,000 $2,275,000 75 16 9 35 Buyer's CA San Luis Obispo County
CO Aspen $3,674,000 $4,125,000 42 11 5 67 Buyer's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
CA San Diego
AZ Paradise Valley
ATTACHED HOMES
State Market Name
CA Santa Barbara $1,399,000 $1,625,000 11 6 14 26 Seller's CA Silicon Valley $1,699,999 $1,590,000 113 64 71 14 Seller's CA Sonoma County $834,000 $751,785 18 6 7 40 Seller's
FL Palm Beach Towns $1,975,000 $1,525,500 181 32 32 25 Balanced
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
FL Space Coast $824,900 $685,000 24 41 13
ATTACHED HOMES
FL Weston
FL Miami $1,450,000 $1,150,000 1225 218 121 43 Buyer's
HI Oahu $1,175,000 $905,000 383 87 85 18
State Market Name
CO Denver $917,500 $720,313 140 43 44 11
CO Durango $793,905 $910,000 18 2 15 51 Seller's
HI Island of Hawaii
FL Greater Fort Lauderdale $849,450 $735,000 860 220 167 27 Balanced
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's
FL Coastal Pinellas County $1,396,550 $1,050,000 94 22 25
FL Marco Island $1,749,000 $1,350,000 37 5 9 25
FL Lee County $849,900 $825,000 215 48 68
$1,300,000 $1,004,001 450 209 186 11 Seller's TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
TX Dallas
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
$1,530,000 $1,483,750 47 7 16 8
CT Central Connecticut
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
ON GTA - Durham
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
CO Vail $3,250,000 51 4 3 9
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
GA Duluth
IL Chicago $1,275,000 739 219 144 30 Balanced
IL DuPage County $990,000 $675,000 21 7 11 5 Seller's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
FL Sarasota & Beaches $1,692,500 $1,375,000 126 24 17 Balanced
ID Northern Idaho
CT Coastal Connecticut $1,495,000 $853,000 154 18 52 24
$749,900 $601,410 425 158 178 18
FL Naples $2,345,000 $1,800,000 129 30 35 26
$1,749,000 $1,555,000 211 136 46 14 Seller's
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
LUXURY MONTHLY MARKET REVIEW –
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
DE Sussex County Coastal $975,000 $779,316 19 9 16 7
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
FL Orlando $565,000 $560,500 204 61 69
HI Maui $2,125,000 $1,672,500 76 19 28 97
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
ID Ada County $673,500 $607,500 59 27 14 18
DC Washington D.C. $1,457,500 159 43 62 11 Seller's
–
FL Jacksonville Beaches $995,000 $930,000 38 14 14 22
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
GA Atlanta
FL Tampa $774,500 $667,000 187 68 51 9 Seller's
FL Boca Raton/Delray Beach $865,125 280 100 57 18 Balanced
HI Kauai $1,592,000 42 9 15 14
FL South Pinellas County $1,122,800 $900,000 175 47 48 12
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
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.
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
CO Douglas County $549,990 $587,450 25 7 13 14
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's
CO Summit County $1,524,000 $1,378,500 30 10 8 9 Seller's CO Telluride
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
FL South Walton $1,550,000 $1,150,000 225 43 27 24 Buyer's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
NC Asheville $577,500 25 6 15 24
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's TX Houston $979,000 $880,000 1149 439 333 9 Seller's
MA Cape Cod $797,500 $910,000 22 1 9 22
ON GTA - Durham
ATTACHED HOMES
$600,000 $599,990 27 20 33 7
OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's
NY Staten Island $615,000 $630,000 96 35 37 26
IN Hamilton County
MO Kansas City
MD Anne Arundel County $577,000 $576,000 55 30 50
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
NY Finger Lakes
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's
NV Las Vegas
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.
MN Twin Cities
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
MA South Shore $837,450 $825,000 16 7 13 20
NC Raleigh-Durham
OH Cincinnati $674,900 $720,000 17 1 10 61 Seller's
ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
State Market Name
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
MA Greater Boston $2,482,500 $1,997,500 256 50 78 21 Seller's
NC Lake Norman $598,711 $625,000 23 7 13 18 Seller's
NJ Ocean County $882,500 $820,000 48 19 17 17
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
IL Lake County
NV Reno
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
MD Worcester County $681,750 44 14 23 24 Livingston County Monroe County
KS Johnson County $611,663 $595,509 110 29 25 3 Seller's
$1,749,000 $1,555,000 211 136 46 14 Seller's
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
–
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
NV Lake Tahoe $1,294,500 $1,225,500 32 4 8 70
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
IL Will County
MD Howard County
LUXURY MONTHLY MARKET REVIEW –
MD Talbot County
MO St. Louis
NY Suffolk County $769,000 165 47 56 28
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
MD Frederick County
NM Taos
NC Charlotte $650,000 $618,898 170 35 96 15
NY Nassau County $1,561,944 $1,202,500 80 15 32 29
Oakland County $692,000 $615,000 72 22 17 16 Washtenaw County $627,450 $599,000 54 15 18 27 Seller's Wayne County $649,900 $550,510 92 21 9 7 Buyer's MN Olmsted County
MD Montgomery County $788,700 $766,000 100 12
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
TN Nashville $739,000 117 39 60 6
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
VA Smith Mountain Lake
ATTACHED HOMES
TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
ON GTA - Durham
ON Waterloo Region $847,400 $750,000 23 20 11 25
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's TX Houston $979,000 $880,000 1149 439 333 9 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
Durham $829,450 $825,000 28 15 11 11
LUXURY MONTHLY MARKET REVIEW –
–
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
OR Portland $742,450 $589,000 204 69 76 18 Seller's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's
Dallas $744,950 $630,000 114 41 50 11 Denton County El HoustonGreaterFortPasoWorthTyler
$624,000 $586,570 135 19 Balanced
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
$745,000 $623,250 33 7 4 199 Buyer's The Woodlands & Spring Park City $1,895,000 $2,077,500 99 28 26 13
UT Salt Lake City $596,950 $555,000 170 68 73 25
Charlottesville $759,900 $666,013 31 13 10 29
King County - Greater Seattle $1,124,000 $1,000,000 253 91 100 8
WA Spokane
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.
QC Montreal $1,501,291 90 83 11 55 Buyer's
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
Austin $750,000 243 83 53 15 Collin County
Fairfax County $775,000 $690,000 213 101 139 15 McLean & Vienna $1,112,475 $1,025,000 32 8 16 22 Richmond
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
SanSanLubbockAngeloAntonio
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's
$1,749,000 $1,555,000 211 136 46 14 Seller's
Cleveland Suburbs
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
State Market Name
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
GTA - York $789,000 $760,444 261 164 88 18 Seller's Hamilton $929,450 $872,500 18 16 8 19 Seller's Mississauga $969,000 $917,500 129 77 32 21 Oakville $1,239,000 27 15 6 22 Seller's Toronto $1,150,000 674 374 170
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's
Arlington & Alexandria $955,000 $992,500 88 40 68 12
Seattle $1,495,000 $1,235,000 121 31 22 7 Balanced
SC Hilton Head $1,045,000 $1,000,000 40 7 11 5 Greater Chattanooga
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
MOUNTAINSMITH LAKE VIRGINIA
2022 SEPTEMBER
$3,700,000 - $3,999,999
$3,400,000 - $3,699,999
$1,400,000 - $1,599,999
$3,100,000 - $3,399,999
$1,600,000 - $1,899,999
$2,500,000 - $2,799,999
$1,300,000 - $1,399,999
$870,000$1,099,999-$999,999
$1,000,000 -
$1,100,000 - $1,199,999
1 3 1 0 0 1 3 0 3 2 1 2 1 0 6 0 0 0 0 0 1 1 0 0 1 1 1 1 1 6
$2,800,000 - $3,099,999
Square-Range-Feet3 -MedianPriceSold- -MedianBedsSold- -MedianBathsSold- -Total-Sold Inventory-Total- Sales -Sold/Inventory-Ratio 0 - 2,999 $905,000 3 3 7 5 140% 3,000 - 3,499 $1,275,000 5 4 3 3 100% 3,500 - 3,999 $1,415,000 3 4 1 2 50% 4,000 - 4,499 $2,750,000 3 4 1 2 50% 4,500 - 4,999 $2,356,000 5 3 1 3 33% 5,000+ NA NA NA 0 9 0% SMITH MOUNTAIN LAKE SINGLE FAMILY HOMES LUXURY INVENTORY VS. SALES | AUGUST 2022 Luxury Benchmark Price 1: $870,000 Seller's Market24Total Inventory: 13Total Sales: 54%Total Sales Ratio2: 1 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.
$4,000,000+
$2,200,000 - $2,499,999
Inventory Sales
$1,900,000 - $2,199,999
$1,200,000 - $1,299,999
MEDIAN DATA REVIEW | AUGUST 13 - MONTH LUXURY MARKET TREND 4 SoldsMedian Sales Price Inventory 38 36 32 25 14 17 10 12 15 27 36 33 24 12 17 20 13 14 6 8 2 15 16 13 8 13 $1,225,000 $1,300,000 $1,137,500 $1,100,000 $1,100,000 $1,375,000 $1,137,500 $1,152,468 $1,280,000 $1,480,000 $1,255,000 $1,325,000 $1,000,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties. • The Smith Mountain Lake single-family luxury market is a Seller's Market with a 54% Sales Ratio. • Homes sold for a median of 100.00% of list price in August 2022. • The most active price band is $870,000-$999,999, where the sales ratio is 100% • The median luxury sales price for single-family homes is $1,000,000. • The median days on market for August 2022 was 6 days, down from 12 in August 2021. SMITH MOUNTAIN LAKE SINGLE FAMILY HOMES SMITH MOUNTAIN LAKE MARKET SUMMARY | AUGUST 2022 VARIANCE: 37 % 38 24 Aug. 2021 Aug. 2022 TOTAL INVENTORY VARIANCE: 8 % 12 13 TOTAL SOLDS VARIANCE: 18 % $1.23m $1.00m SALES PRICE VARIANCE: 50 % 12 6 DAYS ON MARKET VARIANCE: 1 % 98.87% 100.00% SALE TO LIST PRICE RATIO VARIANCE: 39 % $271 $377 SALE PRICE PER SQFT. Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022
JADA TURNER 540.263.0202 | JadaATurner@gmail.com | www.JadaTurnerRealtor.com
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 540.263.0202. Jada Turner
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