Karla Dorsey Luxury Market Report June 2019

KARLA DORSEY L U X U RY MARKET REPORT

TAMPA

JUNE 2019

KARLA DORSEY REALTORÂŽ, CLHMS Keller Williams South Tampa

3502 Henderson Blvd, #300 Tampa, FL 33609

813.394.7049

Karla@KarlaDorsey.com www.KarlaDorsey.com Karla Dorsey is a Tampa native, bringing many years of real estate experience to home buyers, sellers, and investors alike. Karla is an award-winning Florida Realtor who has earned the esteemed designation as a Certified Luxury Home Marketing Specialist, The Institute for Luxury Home Marketing MILLION DOLLAR GUILD, as well as receiving the Professional Real Estate Stager Certification. This combined skill-set elevates the experience working with the Karla Dorsey Team.

As a client, you will experience one-on-one personal attention to detail, a genuine team approach that always strives to achieve excellence, expert contract negotiations, concise communication throughout the process, and the Keller Williams advantage of a national and global network of luxury agents worldwide.

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 Overall the Luxury Real Estate Market in North America has seen a greater number of listings entering into the market as well as the number of sales. This is no great surprise as the spring months still tend to be the largest selling months in the real estate calendar.

It’s fairly safe to say that we all recognize that the real estate market as a whole has shifted, but overall the market has now found its new norm, slowing from the fast-paced seller’s market of previous years.

So, the key to selling and achieving the maximum return on your property lies in leveraging what the market is currently demanding.

While each market certainly has its own nuances, one trend has become very apparent in the luxury market – it’s all about the ‘experience.’ No matter who we talk to, savvy homeowners, luxury real estate professionals, developers, architects and designers, they are all putting their emphasis on defining the experience as part of their luxury marketing message.

“It’s part of a larger trend in which the affluent are increasingly investing in intangible goods like privacy, lifestyle, and education,” says New York Designer Andrew Kotchen.

And these sentiments are echoed as far afield as Paris where designer Dorothee Boissier of Gilles & Boissier shared her views on luxury “It’s linked to freedom, and feeling protected too. It’s also something that brings you wellness. It can be simple, but it makes you feel well.”

The general message is that luxury is not about throwing money around by adding more fancy materials, but rather about creating a comfortable experience that affords the feeling of luxurious wellness.

In an era where mass consumption means both the upper class and the middle class can own the same luxury brand, the rich are forgoing material goods to invest in the immaterial as a way to signify status.

It also explains why luxury buyers are downsizing, quality over space has become their priority.

It is a sentiment that holds true no matter the demographic or property being sold or purchased.

Members of The Institute are noticing that affluent customers are putting greater expectations on the service levels of their realtors. They are looking for innovation in the marketing of their properties and expertise in finding amenity-rich properties in preferred locations.

The city of San Francisco truly emphasises this transition with 7 billion-dollar mega projects scheduled to transform the city by 2023, not just with new housing and commercial buildings, but with outdoor public space as a major priority.

Driven by incentives that have attracted high tech companies to establish businesses in this city, it has created a flood of new tech savvy millennials as well as drawing homeowners from the Silicon Valley.

The incentives might be financial for the company, but it’s the city’s depth of amenities that have proven irresistible to this newer generation and the demand for new and renovated properties has sent property values to unprecedented levels.

Previously considered undesirable areas are being redeveloped with new condominium style properties offering luxurious quality designs that address all of today’s requirements. Both the historic and iconic residences of San Francisco are even more in demand, so long as the internal renovations are completed.

These all come with a heavy purchase price; but to this generation of buyers, a turnkey, luxury property is worth the cost.

Communities from Miami to Boca Raton on Florida's east coast, an area that is traditionally known for its second homeowners, snowbirds, and retirees, are juxtaposed to San Francisco in every way.

Since 2015, this market has seen a steady but significant shift in favor of buyers and luxury properties in particular have seen a marked decline in activity, especially in the last 18 months.

Roman Pavlik of Laurie Finkelstein Reader Real Estate puts this decline down to two main factors; a strengthening of the US dollar which has deterred international buyers and a glut of new development resulting in the pressure of an excess of inventory.

“Buyers are coming from New York and Los Angeles due to the substantial increases of their taxes, but with the lack of foreign investors, this means the majority of buyers are actually tending to be local or have been renters over the last few years - and are now taking advantage of the prices decreases.

Until recently, sellers of properties in the higher market have struggled to reduce their prices or renovate to the level demanded by current buyers and so the reality is if you are not prepared to compete in this new market, then you will be unlikely to sell.”

Barbara Pond of Keller Williams Coastal Partners, whose focus is hyper-local on Downtown West Palm Beach, concurs that buyers have changed with more focus on quality over size, preferring to pay for luxury amenities and convenience.

“A new luxury condominium with an impressive list of amenities and average prices around $7.5 million has seen extraordinary success, whereas the luxury resale market is firmly a buyer’s market.

Condos and historic homes have become favorites but, again, they need to be turnkey as buyers simply do not have the time nor the inclination to renovate.”

Barbara feels that with the integration of the new high-speed train service, together with investment into the local commercial and green space infrastructure, heralds a change in the future - with an influx of new homeowners from Miami looking for more “bang for their buck”.

In the last of our communities profiled, we look at a completely different market – Toronto, Canada’s largest city, which saw historic price increases over a period of 8 years, only to be hit with the implementation of a slew of taxes and regulations in 2017, mainly against foreign and non-residents.

However, population growth and revitalized consumer confidence has shown that this luxury market has stabilized from the previous 2 years of unpredictability.

The luxury condo market continued to be strong in Toronto throughout these uncertain months. Chris Butryn of Royal LePage Connect Realty Brokerage puts this down to high demand from two demographics – affluent couples with high paying careers and a new trend of empty nesters, seniors, and retirees.

“I am not surprised by this trend, these luxury homeowners have always downsized, but what is different now is that many want to be in condominiums that are more manageable, offer lavish amenities, and the convenience of desirable locations in downtown Toronto, rather than moving to the suburbs.”

However, Chris is quick to qualify that although they are moving downtown, they are very selective in their choices – no small apartment with views of other buildings is acceptable, but rather a fullyequipped palace in the sky, so their lives remain as private as when they lived in large properties.

Luxury apartment buildings are catering to these demands, going to great lengths to attract these homeowners with access to private facilities both on and off-site, some even offering rooftop gardens, dog parks, resident bars/restaurants, as well as wellness facilities such as gyms, spas, and yoga studios.

These individual markets, although very different, once again show that luxury markets are driven by the market force of desire, wants, and trends.

Never has it been more important than to work with a resourceful realtor in the selling of your property, as their expertise will recognize these global and local influencers and leverage them to effectively in the marketing of your home. So don’t be surprised if they come up with some rather unusual techniques from recommending modernization, or redevelopment to using accelerated marketing programs such as an Auction.

– 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

48 40

41

40

34

34

JUN

JUL

38

38

AUG

SEP

58

49

47

34

34

59

56

62

57 46

41

47 43

41

42

35

35 35

20

0 MAY

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

$375

$474

$541 $396

$470 $388

$493 $382

$375

$483

$488 $365

$386

$347

$458

$486

$495 $326

$318

$465

$472 $339

$300

$348

$477

$400

$504

$500

$357

PRICE PER SQUARE FOOT

$600

$200

$100

$0

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

APR

MAY

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

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

Discrepancies between statistics published between the January 2019 and February 2019 Luxury Market Reports are due to the addition of Durham, ON.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month April 2019 | May 2019

SINGLE-FAMILY HOMES April

May

April

May

42,364

46,097

Median List Price

$1,695,000 $1,675,000

Total Inventory

Median Sale Price

$1,469,500 $1,400,000

New Listings

13,014

13,969

6,780

8,217

41

35

3,639

3,627

Median SP/LP Ratio

96.94%

97.24%

Total Sold

Total Sales Ratio

16.00%

17.83%

Median Days on Market

$396

$375

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





955

1,437

New Listings

Total Sold





6

1.83%

Med. Sale Price

Days on Market

Sales Ratio

69,500

$



SINGLE-FAMILY HOMES MARKET SUMMARY | MAY 2019 •

Official Market Type: Balanced Market with a 17.83% Sales Ratio.1

•

Homes are selling for an average of 97.24% of list price.

•

The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,400,000.

•

Markets with the Highest Median Sales Price: Vail ($3,686,000), LA - Beach Cities ($3,287,500), Silicon Valley ($3,255,000), and Toronto ($3,222,000).

•

Markets with the Highest Sales Ratio: San Francisco (94%), Silicon Valley (57%), Austin (44%), and Denver (42%).

1

Sales Ratio defines market speed and market type: Buyer's < 14.5%; 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 April 2019 | May 2019

ATTACHED HOMES April

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

May

$1,054,000 $1,024,500

April

May

16,161

16,741

New Listings

4,511

4,653

2,616

2,884

35

35

2,062

1,976

Total Inventory

$922,174

$887,000

98.24%

98.21%

Total Sold

16.19%

17.23%

Median Days on Market

$541

$474

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





142

268

New Listings

Total Sold



 

Med. Sale Price

Days on Market

35,174

$

0



1.04% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | MAY 2019 •

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

•

Attached homes are selling for an average of 98.21% of list price.

•

The median luxury threshold2 price is $693,725, and the median attached luxury sale price is $887,000.

•

Markets with the Highest Median Sales Price: Vail ($2,587,500), San Francisco ($2,250,000), Maui ($2,175,000), and Naples ($2,175,000).

•

Markets with the Highest Sales Ratio: Silicon Valley (182%), Arlington & Alexandria (82%), Marin County (65%), and GTA - Durham (58%).

1

Sales Ratio defines market speed and market type: Buyer's < 14.5%; 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

$1,150,000

$1,055,000

794

300

131

38

Balanced

AZ

Paradise Valley

$2,995,000

$2,840,000

238

38

24

104

Buyer's

AZ

Phoenix

$734,900

$635,000

933

276

233

61

Seller's

AZ

Scottsdale

$1,699,000

$1,400,000

942

132

133

96

Buyer's

AZ

Tucson

$750,000

$635,000

748

151

119

30

Balanced

BC

Okanagan Valley

$1,649,000

$1,248,813

677

190

27

56

Buyer's

BC

Vancouver

$3,998,000

$3,160,000

1,248

339

59

26

Buyer's

BC

Victoria

$1,820,000

$1,619,439

486

201

34

33

Buyer's

CA

Los Angeles Beach Cities

$5,195,000

$3,287,500

427

130

52

26

Buyer's

CA

Los Angeles City

$3,995,000

$3,050,000

964

311

165

38

Balanced

CA

Los Angeles The Valley

$2,195,000

$1,825,000

662

287

177

28

Seller's

CA

Marin County

$3,495,000

$2,740,000

185

30

45

19

Seller's

CA

Napa County

$2,900,000

$1,950,000

185

32

15

31

Buyer's

CA

Orange County

$2,395,000

$1,950,000

1,886

528

334

39

Balanced

CA

Palm Springs & Palm Desert

$1,849,500

$1,525,000

528

73

75

99

Buyer's

CA

Placer County

$1,000,000

$850,000

307

114

83

11

Seller's

CA

Sacramento

$799,000

$733,750

1,005

502

364

11

Seller's

CA

San Diego

$2,100,000

$1,675,000

1,447

489

308

33

Seller's

CA

San Francisco

$4,200,000

$3,150,000

70

36

66

13

Seller's

CA

Santa Barbara

$3,762,500

$2,780,000

322

78

31

33

Buyer's

CA

Silicon Valley

$3,600,000

$3,255,000

311

167

176

10

Seller's

CA

Ventura County

$1,799,000

$1,525,000

405

144

67

43

Balanced

CO

Boulder

$1,699,000

$1,300,000

278

106

66

48

Seller's

Median prices represent properties priced above respective city benchmark prices.

– 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

Denver

$950,000

$825,000

1,334

593

557

12

Seller's

CO

Douglas County

$1,225,000

$1,135,000

360

111

79

15

Seller's

CO

Vail

$4,145,000

$3,686,000

120

14

7

316

Buyer's

DC

Washington D.C.

$3,200,000

$2,277,600

65

18

12

76

Balanced

$2,190,000

$1,895,000

606

77

52

90

Buyer's

$1,600,000

$1,462,500

94

20

15

47

Balanced

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$1,275,000

$950,000

1,708

337

159

72

Buyer's

FL

Jacksonville Beaches

$1,208,000

$1,064,650

370

94

45

54

Buyer's

FL

Miami

$1,334,999

$885,000

1,521

247

118

125

Buyer's

FL

Naples

$2,199,000

$1,600,000

766

76

91

108

Buyer's

FL

Orlando

$1,579,500

$1,362,500

580

96

72

125

Buyer's

FL

Palm Beach Towns

$3,350,000

$2,476,000

407

48

44

86

Buyer's

FL

Sarasota & Beaches

$1,675,000

$1,525,000

639

83

62

90

Buyer's

FL

Tampa

$779,000

$687,000

901

232

174

35

Balanced

GA

Atlanta

$1,150,000

$965,000

1,480

442

244

26

Balanced

HI

Kauai

$2,492,000

$1,537,500

156

20

10

88

Buyer's

HI

Maui

$3,195,000

$1,862,500

209

19

12

113

Buyer's

HI

Oahu

$3,300,000

$2,525,000

233

58

13

102

Buyer's

IL

Chicago

$1,229,000

$1,030,000

2,305

769

319

48

Buyer's

MA

Greater Boston

$3,250,000

$2,756,250

168

57

38

18

Seller's

MD

Montgomery County

$1,695,000

$1,430,000

450

160

104

37

Seller's

MD

Talbot County

$1,860,000

$1,369,250

114

17

4

204

Buyer's

MD

Worcester County

$949,900

$800,500

83

19

8

9

Buyer's

Median prices represent properties priced above respective city benchmark prices.

– 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

MI

Oakland County

$724,900

$622,000

1,322

569

214

18

Balanced

MO

St. Louis

$749,950

$645,000

233

93

59

35

Seller's

NC

Raleigh-Durham

$700,000

$678,450

1,104

290

316

2

Seller's

NJ

Ocean County

$860,000

$775,000

829

180

99

59

Buyer's

NV

Las Vegas

$719,995

$652,500

1,775

566

324

33

Balanced

NV

Reno

$1,398,000

$1,191,188

122

43

42

84

Seller's

NY

Brooklyn

$1,549,000

$1,400,000

313

64

12

95

Buyer's

NY

Staten Island

$1,199,000

$1,139,000

216

52

10

82

Buyer's

ON

GTA - Durham

$1,499,900

$1,242,000

288

144

34

18

Buyer's

ON

GTA - York

$2,202,000

$1,759,000

926

443

84

24

Buyer's

ON

Toronto

$3,477,500

$3,222,000

574

366

125

10

Seller's

TN

Nashville

$1,150,000

$949,900

354

105

111

18

Seller's

TX

Austin

$1,050,000

$825,000

739

305

323

12

Seller's

TX

Collin County

$714,996

$664,900

1,026

308

207

33

Balanced

TX

Dallas

$999,000

$855,000

1,043

308

191

35

Balanced

TX

Fort Worth

$850,000

$772,500

992

334

196

26

Balanced

TX

Houston

$833,500

$766,650

2,298

723

419

28

Balanced

TX

The Woodlands & Spring

$795,000

$687,500

569

215

104

26

Balanced

UT

Park City

$3,295,000

$2,500,000

246

44

25

108

Buyer's

VA

Arlington & Alexandria

$1,974,850

$1,692,500

102

31

24

10

Seller's

VA

Fairfax County

$1,599,000

$1,360,000

661

221

97

27

Buyer's

VA

McLean & Vienna

$1,850,000

$1,500,000

284

86

37

27

Buyer's

WA

Seattle

$1,698,440

$1,475,000

364

218

141

8

Seller's

Median prices represent properties priced above respective city benchmark prices.

â&#x20AC;&#x201C; LUXURY MONTHLY MARKET REVIEW â&#x20AC;&#x201C; ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$814,800

$800,000

323

109

45

46

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$735,000

$625,000

222

53

48

83

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,880,000

$1,642,857

911

294

52

19

Buyer's

BC

Victoria

$799,900

$749,950

316

141

62

19

Balanced

CA

Los Angeles Beach Cities

$1,699,500

$1,454,500

192

81

62

21

Seller's

CA

Los Angeles City

$1,525,000

$1,240,000

370

143

69

19

Balanced

CA

Los Angeles The Valley

$707,450

$690,000

142

77

77

22

Seller's

CA

Marin County

$1,499,000

$1,125,000

17

7

11

14

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,050,000

$944,000

561

195

160

18

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,099,000

$855,000

589

238

177

28

Seller's

CA

San Francisco

$2,950,000

$2,250,000

127

38

43

15

Seller's

CA

Santa Barbara

$1,744,000

$1,397,500

42

8

8

36

Balanced

CA

Silicon Valley

$1,449,809

$1,465,500

56

39

102

11

Seller's

CA

Ventura County

$699,450

$693,750

88

34

30

31

Seller's

CO

Boulder

$927,000

$768,004

68

26

17

47

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.

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

CO

Denver

$698,000

$659,450

627

252

258

18

Seller's

CO

Douglas County

$734,500

$601,000

28

7

6

32

Seller's

CO

Vail

$3,995,000

$2,587,500

104

5

8

118

Buyer's

DC

Washington D.C.

$1,797,000

$1,455,000

204

87

78

17

Seller's

$899,000

$732,500

382

53

44

89

Buyer's

$932,000

$840,000

130

33

15

71

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$860,000

$760,000

1,295

156

85

102

Buyer's

FL

Jacksonville Beaches

$1,199,167

$985,000

72

12

8

80

Buyer's

FL

Miami

$999,000

$957,500

2,959

362

106

196

Buyer's

FL

Naples

$2,112,500

$2,175,000

262

29

32

85

Buyer's

FL

Orlando

$669,350

$667,500

82

22

10

38

Buyer's

FL

Palm Beach Towns

$1,450,000

$1,075,000

353

41

34

77

Buyer's

FL

Sarasota & Beaches

$1,395,000

$1,150,000

268

31

33

66

Buyer's

FL

Tampa

$654,950

$659,000

152

33

33

16

Seller's

GA

Atlanta

$659,000

$622,500

599

185

92

46

Balanced

HI

Oahu

$1,375,000

$1,255,000

57

10

12

78

Seller's

HI

Kauai

$2,087,500

$2,175,000

146

22

13

163

Buyer's

HI

Maui

$1,299,000

$1,250,000

419

80

52

57

Buyer's

IL

Chicago

$1,150,000

$919,000

1,050

386

152

76

Buyer's

MA

Greater Boston

$2,395,000

$2,100,000

307

127

94

14

Seller's

MD

Montgomery County

$750,000

$675,000

187

81

62

31

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$604,500

$755,000

108

17

13

225

Buyer's

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

MI

Oakland County

$899,139

$620,388

64

17

10

21

Balanced

MO

St. Louis

-

-

-

-

-

-

-

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$629,900

$697,000

131

20

36

35

Seller's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,349,000

$1,100,000

675

169

46

87

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - Durham

$585,500

$600,000

26

26

15

11

Seller's

ON

GTA - York

$749,900

$722,500

163

101

32

16

Balanced

ON

Toronto

$1,199,945

$1,115,000

528

414

231

11

Seller's

TN

Nashville

$750,000

$582,000

97

20

17

30

Balanced

TX

Austin

$808,000

$680,000

195

53

47

49

Seller's

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$699,000

$642,500

241

58

30

45

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$649,450

$600,000

218

71

29

52

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,895,000

$1,775,000

177

21

11

102

Buyer's

VA

Arlington & Alexandria

$1,099,999

$1,027,500

61

31

50

21

Seller's

VA

Fairfax County

$718,000

$675,000

174

81

79

12

Seller's

VA

McLean & Vienna

$1,428,000

$981,880

29

8

11

34

Seller's

WA

Seattle

$1,100,000

$1,100,000

147

49

37

26

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.

Luxury is in each detail.

Hubert de Givenchy

TA M P A F LO R I D A –June 2019–

www.LuxuryHomeMarketing.com

TAMPA

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | MAY 2019 Inventory

Sales

Luxury Benchmark Price 1: $525,000 $4,000,000+ $3,500,000 - $3,999,999 $3,000,000 - $3,499,999 $2,600,000 - $2,999,999

$2,300,000 - $2,599,999 $2,000,000 - $2,299,999 $1,700,000 - $1,999,999 $1,400,000 - $1,699,999

$1,200,000 - $1,399,999

17

0 11

0

9

1

$800,000 - $899,999

Total Sales: 174 Balanced Market

18

1

Total Sales Ratio2: 19%

15

1

15

1

35

2

46

7

62

8

$1,000,000 - $1,199,999 $900,000 - $999,999

Total Inventory: 901

65

10

50

8

86

21

$700,000 - $799,999 $600,000 - $699,999

175

39

$525,000 - $599,999

1

95

25

202

50

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$609,000

4

3

49

213

23%

3,000 - 3,999

$727,500

4

4

75

314

24%

4,000 - 4,999

$755,000

4

4

35

208

17%

5,000 - 5,999

$1,000,000

5

6

11

83

13%

6,000 - 6,999

$2,183,500

6

7

2

32

6%

7,000+

$2,137,500

6

8

2

51

4%

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.

TAMPA

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$697,950

774

$700,000

$698,511

718

164 May-18

684

226

167

Jun-18

Jul-18

$686,200

$690,000

703

742

142

Aug-18

$642,500

Sep-18

$689,000

784

783

108

Inventory

114

Oct-18

131 Nov-18

Solds

$669,990

$677,500

699

743

115

Dec-18

78 Jan-19

$707,500

$715,000

$709,500

798

821

841

128

94

Feb-19

Mar-19

$687,000

901

174

126 Apr-19

May-19

MEDIAN DATA INVENTORY April

May

841

901 VARIANCE: 7 %

SALE PRICE PER SQFT. April

May

239

$

219 VARIANCE: -8 % $

SOLDS April

SALES PRICE May

126

174 VARIANCE: 38 %

SALE TO LIST PRICE RATIO April

May

97.80% 98.15% VARIANCE: 0 %

April

710k

$

May

687k VARIANCE: -3 % $

DAYS ON MARKET April

49

35 VARIANCE: -29 %

TAMPA MARKET SUMMARY | MAY 2019 • The Tampa single-family luxury market is a Balanced Market with a 19% Sales Ratio.

• Homes sold for a median of 98.15% of list price in May 2019.

• The most active price band is $700,000-$799,999, where the sales ratio is 26%.

• The median luxury sales price for single-family homes has decreased to $687,000.

• The median days on market for May 2019 was 35 days, down from 49 in April 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

May

TAMPA

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | MAY 2019 Inventory

Sales

Luxury Benchmark Price 1: $500,000 $2,000,000+ $1,750,000 - $1,999,999 $1,500,000 - $1,749,999

$1,050,000 - $1,199,999

7

0

Seller's Market Total Sales Ratio2: 22%

3

0

11

0

9

2

$800,000 - $899,999

7

3

$750,000 - $799,999

10

2

$700,000 - $749,999

3

4

$650,000 - $699,999

6

$600,000 - $649,999

7 13

3

$550,000 - $599,999

35

6 16

0

$500,000 - $524,999

1

Total Sales: 33 6

1

$900,000 - $1,049,999

$525,000 - $549,999

Total Inventory: 152

5

0

$1,350,000 - $1,499,999

$1,200,000 - $1,349,999

7

0

12

7

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$654,000

3

4

32

130

25%

3,000 - 3,999

$942,500

3

4

1

11

9%

4,000 - 4,999

NA

NA

NA

0

7

0%

5,000 - 5,999

NA

NA

NA

0

2

0%

6,000 - 6,999

NA

NA

NA

0

0

NA

7,000+

NA

NA

NA

0

2

0%

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.

TAMPA

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

Inventory

Solds

$720,000 $580,000

82

$577,000

$569,000

81

23 May-18

85

74 25

19

Jun-18

$600,000

Jul-18

$600,000

85

$625,000

85

17

19

Aug-18

Sep-18

21

Oct-18

$585,000

$606,000

105

108

$615,000

137

13

20

Nov-18

Dec-18

$600,000

129

17 Jan-19

$634,000

152

136

124

16

15

Feb-19

Mar-19

$659,000

33

19

Apr-19

May-19

MEDIAN DATA INVENTORY April

May

136

SOLDS April

SALES PRICE May

152 VARIANCE: 12 %

33 VARIANCE: 74 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

April

May

276

$

272 VARIANCE: -1 % $

19

April

May

97.54% 97.99% VARIANCE: 0 %

April

634k

$

659k VARIANCE: 4 % $

DAYS ON MARKET April

56

May

16 VARIANCE: -71 %

TAMPA MARKET SUMMARY | MAY 2019 • The Tampa attached luxury market is a Seller's Market with a 22% Sales Ratio.

• Homes sold for a median of 97.99% of list price in May 2019.

• The most active price band is $650,000-$699,999, where the sales ratio is 86%.

• The median luxury sales price for attached homes has increased to $659,000.

• The median days on market for May 2019 was 16 days, down from 56 in April 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

May

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 813.394.7049.

- Karla Dorsey

KARLA DORSEY

813.394.7049 | Karla@KarlaDorsey.com

This brochure is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. Each office independently owned and operated. E&OE.