Patrick Ryan Luxury Market Report DEC 19

PATRICK RYAN L U X U RY MARKET REPORT

CHICAGO

DECEMBER 2019

PATRICK RYAN

OWNER | MANAGING BROKER | CLHMS

Mobile 773.383.7689 Office 312.792.5135 patrick@genuinere.com

Patrick Ryan is the Senior Vice President and Managing Broker of Related Realty, the boutique brokerage division of Related Midwest, of The Related Companies, the most prominent privately held real estate firm in the United States. In this position he oversees the day-today operations, vision, recruiting, and development of the brokerage firm while serving as a liaison between the brokerage and Related Midwest Development portfolio including Chicago’s premiere luxury new construction luxury residential building, One Bennett Park.

A licensed Realtor since 2004, Paul had received and achieved numerous awards including: Guild Member of ILHM, ILHM Advisory Board Member, ILHM 2015 Outstanding Achievement award winner, Certified Residential Specialist, and Chicago Association of Realtors 10 time Top Producer winner.

Prior to real estate Patrick achieved sales success and awards in the following industries: transportation (CH Robinson), Pharmaceutical (Dura), and technology (HotJobs.com, Yahoo!, and iHispano). This diverse background has helped him provide excellent results for his residential clients in a rapidly changing industry.

Patrick graduated from Indiana University at Bloomington with a Bachelors degree in Economics. He currently lives in Bucktown with his wife and daughter (who has been doing real estate since she was 3). He has lived in Lincoln Park, Ukranian Village, Logan Square, and River North over the past 22 years. Patrick volunteers at Lurie’s Children’s Hospital, Century Rides, and travels extensively.

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 As the year draws to a close, November’s statistics reveal that the luxury market remains solid, prices stable, and the median length of time, as well as the selling price to list price ratios, remain consistent. Sales are decreasing, but this is reflective of both the time of year and ultra-high-priced luxury properties selling at a slower rate than in previous years.

The luxury segment of real estate is often described as being a minor part of the whole industry, but is readily recognized as being a major influencer in creating trends and providing a barometer to changes for the industry. This month we are taking the opportunity to report on some of the key trends in 2019 that are responsible for creating and maintaining today’s affluent influence.

While each market certainly has its own nuances, an overall trend has become very apparent in the luxury market – it’s all about the finding a more ‘holistic approach to living.’ Savvy homeowners, luxury real estate professionals, developers, architects, and designers are all reporting a significant importance being placed on the infusion of a healthier cadence into our everyday working and living environments.

Luxury is now about creating a comfortable experience that affords the feeling of luxurious well-being. These trends have certainly impacted real estate across North America, and it is anticipated that their influence will be far reaching into 2020s and beyond.

Migration to New Markets This year saw a continuation and escalation of real estate investment into 2nd and even 3rd tier markets.

Cities such as Dallas, Houston, Denver, Seattle, and Las Vegas may have been on the radar in 2018, but 2019 saw communities such as Jacksonville, Charlotte, Nashville, Cincinnati, Boise, and Kansas City added as markets of growth.

A combination of affordable property values, lower taxes, new job opportunities, and a more sustainable lifestyle has resulted in a migration away from the major metropolises to these secondary markets. As reported last month this trend is now global.

The broad picture indicates that the affluent are diversifying their portfolios. They are investing in both major cities and these new markets, but with clear differences being the smaller size of the properties they are purchasing and the amenities on their list of requirements.

It must be recognized that the affluent are an integral part of the movement to these new markets, after

all they are often the instigators looking to maximize the potential revenue for their corporations, personal businesses, or start-up entrepreneurial ventures.

Luxury properties now need to be more than stopping off locations for a week here and there, they have to offer the full home experience allowing executives to live, play and work – and bring their family and pets with them too!

New Groups of Influence This year there has been a growing acknowledgement of the power of the millennials. This group, which is anticipated to overtake baby boomers in numbers by the end of 2019, is also a generation set to inherit the greatest wealth by 2030. According to a recent report by Coldwell Banker Global Luxury, this figure is estimated at nearly $68 trillion.

Millennials may have initially been slower to accumulate wealth and partake in homeownership than previous generations, likely due to the 2008 recession. But research now shows over 92% of millennial millionaires are homeowners who recognize that real estate is a way to build wealth. Their influence will continue to be profound and is already being translated when we look at the significant changes in the types of properties, locations, and amenities in demand.

Terms such as ‘Hipsturbia’ have joined the landscape - as downtown cores have become too expensive, they have been replicated in many suburban communities. The concept of live/work/play in a vibrant, evolving neighborhood has proven to be a success – especially amongst the millennials.

At the opposite end of the spectrum, baby boomers are also wielding their influence as life expectancy has risen by 25 years during the past century. Scientific advances in medicine and healthier lifestyles have resulted in a generation who is still independent. Research shows that a return to downtowns, even hipsturbia communities and multi-family properties, saw a significant increase in demand from this demographic.

This group is selling their larger suburban properties and looking for city convenience, with walkability and amenities in easy reach.

Health & Wellness In the midst of a world where speed and instant gratification are at a touch of a button – there has been a growing recognition for a need to find time for relaxation in a home that embodies a sense of wellness.

Consumer demand for wellness in their homes and communities has grown exponentially as well as globally in 2019. The increased attention paid to tackling today’s uniquely modern problems such as poor air, water and lighting quality, sedentary lives, unhealthy diets, stress, social isolation and loneliness, pollution, and nature-deprivation, has created powerful opportunities.

Leading builders, developers, and affluent investors in real estate recognized that this was not just a hot new trend, but a growing necessity that needed to be incorporated into both our live and work environments.

As a result, there has been an increased emphasis to build real estate that is eco-sensitive, providing environments that offer well-being, natural elements, and healthy amenities.

From custom designed homes and new condominium buildings to planned residential communities, the inclusion of wellness structurally as well as in the design, features, and amenities has fast become synonymous with the "rule rather than the exception" especially for affluent in their real estate choices.

The Natural Way – Design Impacts In keeping with the importance of living holistically, 2019 integrated the ‘less is more attitude,’ with a shift to more multi-functional spaces. 10-car garages were transformed in shareable space for ‘toys’ for outdoor activities, gyms, and swimming pool areas were re-energized with the addition of calm spaces for meditation and yoga.

Plants became significant again with big, bold plants in homes, terraces and roof top gardens. So too did the use of big, bold colors as splashes of vibrancy on natural palates, but with a recognition to creating sense of balance. Bold was paired with neutral hues of white and grey as either statement pieces or accents.

One of the biggest nods to holistic wellness was the integration of natural woods, textures and terra cotta colors, which were added to walls and increasingly to ceilings – adding character or that ‘wow’ factor to the 2018’s mono-chromatic modern finishes.

Perhaps in appreciation to our society’s change towards gender bias, mixing masculine and feminine elements within a room to achieve a balance became a strong designer theme. Dark tones, bold designs and heavy leather were mixed with light colors, clean lines and delicate fixtures.

Trends for 2020 forecast a continuation of these trends with neutral colors moving from cooler shades to warmer tones, two-tone color palates that incorporate the yin and yang of life, and geometric patterns becoming featured on walls and ceilings, all the while maintaining a sense of balance.

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 long-term 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 lifestyle-specific niche your property offers and highlighting amenities in line with trends, a home 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

49

55

52

47

46

42

40

63

58

56

45

37

38

43

31

35

36

35

32

43

51

45 39

38

AUG

SEP

49

48 40

20

0 NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

OCT

NOV

$486 $353

$493 $366

$478 $354

$502 $334

$500 $338

$372

$357

$382

$359

$466

$498

$533 $468

$486 $350

$478 $369

$300

$337

$457

$400

$481

$500

$365

PRICE PER SQUARE FOOT

$600

$200

$100

$0

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

OCT

NOV

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

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

Discrepancies between statistics published between the November 2019 and December 2019 Luxury Market Reports are due to the addition of Colorado Springs, CO.

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

SINGLE-FAMILY HOMES October

November

Median List Price

$1,600,000

$1,671,900

Median Sale Price

$1,360,000 $1,425,000

October

November

Total Inventory

46,917

42,165

New Listings

11,230

7,550

6,888

6,237

51

49

3,797

3,807

Median SP/LP Ratio

96.76%

96.94%

Total Sold

Total Sales Ratio

14.68%

14.79%

Median Days on Market

$366

$353

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





3,680

651

New Listings

Total Sold





2

0.11%

Med. Sale Price

Days on Market

Sales Ratio

65,000

$



SINGLE-FAMILY HOMES MARKET SUMMARY | NOVEMBER 2019 •

Official Market Type: Buyer's Market with a 14.79% Sales Ratio.1

•

Homes are selling for an average of 96.94% of list price.

•

The median luxury threshold2 price is $945,000, and the median luxury home sales price is $1,425,000.

•

Markets with the Highest Median Sales Price: LA Beach Cities ($3,500,000), Vancouver ($3,330,000), San Francisco ($3,210,000), and Toronto ($3,080,000).

•

Markets with the Highest Sales Ratio: San Francisco (59%), Seattle (57%), Silicon Valley (47%), and Boulder (42%).

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 October 2019 | November 2019

ATTACHED HOMES October

November

Median List Price

$1,038,000

$994,500

Median Sale Price

$871,250

$874,500

Median SP/LP Ratio

98.22%

Total Sales Ratio Median Price per Sq. Ft.

October

November

Total Inventory

17,461

16,801

New Listings

4,808

3,599

98.17%

Total Sold

2,544

2,228

14.57%

13.26%

Median Days on Market

48

40

$493

$486

2,024

1,949

Average Home Size

Median prices represent properties priced above respective city benchmark prices.







 Days on Market

3,250

1,209

316

$

New Listings

Total Sold

Med. Sale Price

8



1.31% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | NOVEMBER 2019 •

Official Market Type: Buyer's Market with a 13.26% Sales Ratio.1

•

Attached homes are selling for an average of 98.17% of list price.

•

The median luxury threshold2 price is $685,000, and the median attached luxury sale price is $874,500.

•

Markets with the Highest Median Sales Price: Vail ($3,925,000), San Francisco ($2,374,500), Palm Beach Towns ($2,315,000), and Greater Boston ($2,249,500).

•

Markets with the Highest Sales Ratio: Silicon Valley (83%), GTA-Durham (57%), Douglas County (53%), and Marin County (50%).

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.

â&#x20AC;&#x201C; LUXURY MONTHLY MARKET REVIEW â&#x20AC;&#x201C; SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$1,199,000

$1,105,000

599

139

55

77

Buyer's

AZ

Paradise Valley

$2,995,000

$2,650,000

228

49

23

128

Buyer's

AZ

Phoenix

$749,900

$638,000

668

173

176

56

Seller's

AZ

Scottsdale

$1,700,000

$1,425,000

856

166

107

77

Buyer's

AZ

Tucson

$759,475

$615,000

680

154

75

29

Buyer's

BC

Okanagan Valley

$1,650,000

$1,535,000

620

100

29

111

Buyer's

BC

Vancouver

$3,998,400

$3,330,000

1,088

196

55

54

Buyer's

BC

Victoria

$1,887,500

$1,438,500

354

69

44

39

Buyer's

CA

Los Angeles Beach Cities

$5,295,000

$3,500,000

367

70

66

28

Balanced

CA

Los Angeles City

$4,324,500

$2,877,500

888

197

112

37

Buyer's

CA

Los Angeles The Valley

$2,127,000

$1,825,000

530

133

119

36

Seller's

CA

Marin County

$4,295,000

$2,600,000

93

7

25

52

Seller's

CA

Napa County

$3,200,000

$1,630,000

139

12

10

98

Buyer's

CA

Orange County

$2,589,000

$1,750,000

1,379

204

228

51

Balanced

CA

Palm Springs & Palm Desert

$1,849,000

$1,500,000

508

126

42

42

Buyer's

CA

Placer County

$997,000

$880,000

188

32

41

43

Seller's

CA

Sacramento

$788,500

$710,000

684

176

243

28

Seller's

CA

San Diego

$2,250,000

$1,608,000

1,116

232

248

35

Seller's

CA

San Francisco

$4,335,000

$3,210,000

70

8

41

25

Seller's

CA

Santa Barbara

$4,200,000

$2,350,000

283

30

19

12

Buyer's

CA

Silicon Valley

$3,991,500

$3,020,000

230

42

108

15

Seller's

CA

Ventura County

$1,800,000

$1,615,000

355

77

55

63

Balanced

CO

Boulder

$1,515,000

$1,512,500

100

25

42

65

Seller's

CO

Colorado Springs

$775,000

$699,900

358

62

82

37

Seller's

CO

Denver

$975,000

$855,000

993

201

329

22

Seller's

CO

Douglas County

$1,299,950

$970,000

270

47

49

32

Balanced

Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

$4,995,000

$3,067,000

120

5

2

263

Buyer's

CO

Vail

CT

Central Connecticut

$650,000

$587,500

476

69

45

40

Buyer's

CT

Coastal Connecticut

$1,690,000

$1,447,500

1,357

101

92

102

Buyer's

DC

Washington D.C.

$2,999,999

$2,525,000

73

15

17

24

Seller's

$2,249,000

$1,800,000

588

97

29

68

Buyer's

$1,699,200

$1,425,000

84

19

9

189

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$1,349,000

$950,000

1,537

221

109

93

Buyer's

FL

Jacksonville Beaches

$1,295,000

$1,225,000

297

31

21

74

Buyer's

FL

Miami

$1,350,000

$1,037,950

1,417

220

76

160

Buyer's

FL

Naples

$2,195,000

$1,522,500

730

114

48

65

Buyer's

FL

Orlando

$1,599,000

$1,360,000

463

71

50

140

Buyer's

FL

Palm Beach Towns

$3,250,000

$2,395,000

389

59

11

258

Buyer's

FL

Sarasota & Beaches

$1,671,900

$1,635,000

597

96

35

125

Buyer's

FL

Tampa

$789,000

$699,500

783

137

152

49

Balanced

GA

Atlanta

$1,175,000

$923,000

1,159

210

160

35

Buyer's

HI

Kauai

$2,500,000

$1,677,000

159

17

7

168

Buyer's

HI

Maui

$3,300,000

$2,337,500

198

35

12

134

Buyer's

HI

Oahu

$3,100,000

$2,940,000

270

51

21

81

Buyer's

IL

Chicago

$1,245,000

$1,025,000

1,557

207

186

81

Buyer's

IN

Hamilton County

$746,000

$700,000

268

48

51

25

Balanced

MA

Greater Boston

$3,547,500

$2,640,000

118

10

47

53

Seller's

MD

Montgomery County

$1,822,000

$1,390,000

296

42

62

28

Balanced

MD

Talbot County

$1,775,000

$1,667,500

105

2

8

138

Buyer's

MD

Worcester County

$892,000

$965,000

48

4

7

72

Buyer's

MI

Oakland County

$739,900

$615,000

1,033

195

134

33

Buyer's

MO

St. Louis

$775,000

$715,000

180

34

45

48

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

$899,500

$826,250

829

157

180

41

Seller's

NC

Raleigh-Durham

$716,540

$649,990

988

139

199

0

Balanced

NJ

Ocean County

$875,000

$810,000

665

112

88

71

Buyer's

NV

Las Vegas

$749,000

$645,500

1,685

327

284

44

Balanced

NV

Reno

$1,389,500

$1,156,900

114

7

20

122

Balanced

NY

Brooklyn

$1,588,000

$1,300,000

277

43

17

83

Buyer's

NY

Staten Island

$1,199,000

$995,000

203

25

11

149

Buyer's

ON

GTA - Durham

$1,599,900

$1,256,250

242

52

22

44

Buyer's

ON

GTA - York

$2,384,000

$1,846,000

714

184

68

42

Buyer's

ON

Toronto

$3,480,000

$3,080,000

517

167

60

28

Buyer's

TN

Knox County

$775,000

$632,450

228

44

42

20

Balanced

TN

Nashville

$1,096,000

$949,000

330

103

81

37

Seller's

TX

Austin

$1,100,000

$812,500

508

135

159

17

Seller's

TX

Collin County

$715,800

$643,850

823

142

94

49

Buyer's

TX

Dallas

$975,000

$869,750

827

153

117

33

Buyer's

TX

Fort Worth

$879,000

$750,000

741

130

103

51

Buyer's

TX

Houston

$819,995

$715,000

1,912

376

225

38

Buyer's

TX

The Woodlands & Spring

$855,000

$718,000

445

96

58

48

Buyer's

UT

Park City

$3,497,500

$2,535,000

238

17

27

121

Buyer's

VA

Arlington & Alexandria

$1,899,000

$1,870,000

96

20

17

58

Balanced

VA

Fairfax County

$1,700,000

$1,500,000

469

86

62

42

Buyer's

VA

McLean & Vienna

$1,932,500

$1,700,000

212

40

33

54

Balanced

VA

Richmond

$876,890

$771,075

184

32

56

26

Seller's

WA

Greater Seattle

$1,945,000

$1,650,000

697

97

248

27

Seller's

WA

Seattle

$1,850,000

$1,534,870

187

32

107

22

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

$845,000

$768,750

265

67

20

59

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$739,500

$620,000

234

65

39

57

Balanced

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,888,000

$1,599,500

737

153

60

48

Buyer's

BC

Victoria

$819,000

$749,950

289

57

62

24

Seller's

CA

Los Angeles Beach Cities

$1,795,000

$1,500,000

169

36

59

26

Seller's

CA

Los Angeles City

$1,499,950

$1,255,000

350

93

70

28

Balanced

CA

Los Angeles The Valley

$699,800

$651,000

111

44

52

32

Seller's

CA

Marin County

$1,449,000

$1,162,500

12

1

6

33

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,030,000

$935,000

413

92

101

43

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,096,450

$905,530

574

146

118

42

Balanced

CA

San Francisco

$2,772,500

$2,374,500

136

17

32

22

Seller's

CA

Santa Barbara

$1,699,000

$1,440,000

43

8

10

33

Seller's

CA

Silicon Valley

$1,398,500

$1,425,000

80

27

66

19

Seller's

CA

Ventura County

$699,000

$683,757

69

22

15

40

Seller's

CO

Boulder

$899,850

$865,000

51

10

6

74

Buyer's

CO

Colorado Springs

-

-

-

-

-

-

-

CO

Denver

$672,000

$590,000

545

128

155

30

Seller's

CO

Douglas County

$599,600

$565,000

21

7

11

25

Seller's

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

$3,995,000

$3,925,000

103

10

7

46

Buyer's

CO

Vail

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$789,000

$665,000

261

27

29

143

Buyer's

DC

Washington D.C.

$1,797,000

$1,562,500

194

51

46

11

Seller's

$901,000

$820,000

437

82

36

17

Buyer's

$994,500

$785,000

154

28

15

73

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$860,000

$754,000

1,260

191

54

109

Buyer's

FL

Jacksonville Beaches

$989,000

$980,000

64

5

3

82

Buyer's

FL

Miami

$1,040,000

$832,500

2,916

345

54

175

Buyer's

FL

Naples

$2,198,000

$2,200,000

284

55

9

29

Buyer's

FL

Orlando

$654,500

$590,672

62

9

13

90

Balanced

FL

Palm Beach Towns

$1,472,000

$2,315,000

392

79

18

57

Buyer's

FL

Sarasota & Beaches

$1,387,500

$1,075,000

268

52

26

17

Buyer's

FL

Tampa

$654,000

$560,000

109

25

19

119

Balanced

GA

Atlanta

$665,450

$587,042

612

164

73

54

Buyer's

HI

Kauai

$1,395,000

$1,050,000

66

11

4

7

Buyer's

HI

Maui

$1,795,000

$2,065,500

143

32

17

528

Buyer's

HI

Oahu

$1,299,500

$1,162,500

400

70

30

55

Buyer's

IL

Chicago

$1,165,000

$1,005,700

939

154

76

40

Buyer's

IN

Hamilton County

-

-

-

-

-

-

-

MA

Greater Boston

$2,300,000

$2,249,500

259

41

40

42

Balanced

MD

Montgomery County

$785,000

$646,000

167

47

54

19

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$599,900

$590,000

118

14

15

115

Buyer's

MI

Oakland County

$699,900

$601,500

53

10

6

37

Buyer's

MI

Oakland County

$699,900

$604,385

69

25

5

8

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. 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

$638,607

173

39

18

48

Buyer's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$597,000

$739,000

152

70

10

39

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,349,000

$1,100,000

623

108

62

65

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - Durham

$689,000

$642,000

51

35

29

14

Seller's

ON

GTA - York

$849,945

$825,000

260

161

114

16

Seller's

ON

Toronto

$1,299,000

$1,160,000

591

338

194

14

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$957,500

$730,000

104

59

21

48

Balanced

TX

Austin

$764,995

$606,250

184

43

35

57

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$774,950

$874,500

218

46

14

37

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$799,000

$650,000

367

68

28

60

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$2,095,000

$1,800,000

155

24

29

26

Balanced

VA

Arlington & Alexandria

$1,200,000

$1,075,000

57

18

27

12

Seller's

VA

Fairfax County

$719,894

$644,000

178

57

50

14

Seller's

VA

McLean & Vienna

$1,287,000

$1,550,000

36

10

2

82

Buyer's

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,096,940

$985,134

180

35

56

12

Seller's

WA

Seattle

$1,196,500

$1,000,000

112

13

13

13

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. Prices shown for Canadian cites are shown in Canadian Dollars.

Luxury is in each detail.

Hubert de Givenchy

C HI CA G O I LL I N O I S –December 2019–

CHICAGO

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | NOVEMBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $750,000 $4,500,000+ $3,900,000 - $4,499,999 $3,300,000 - $3,899,999 $2,800,000 - $3,299,999

$2,400,000 - $2,799,999 $2,000,000 - $2,399,999 $1,700,000 - $1,999,999 $1,500,000 - $1,699,999

43

0

42

0 1

2

$1,100,000 - $1,199,999

3

Total Sales: 186

36

Buyer's Market Total Sales Ratio2: 12% 80

4

120

5 108

11

159

21 121

12

104

19

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

100

24

$900,000 - $999,999

188

23

$800,000 - $899,999

202

32

$750,000 - $799,999

1

36

61

$1,300,000 - $1,499,999 $1,200,000 - $1,299,999

Total Inventory: 1,557

157

29

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$867,250

4

4

20

127

16%

3,000 - 3,999

$956,550

4

4

59

368

16%

4,000 - 4,999

$1,065,000

4

5

43

338

13%

5,000 - 5,999

$1,325,000

5

5

26

223

12%

6,000 - 6,999

$1,500,000

5

7

9

145

6%

7,000+

$1,390,000

6

7

3

188

2%

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.

CHICAGO

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,120,000 $1,010,000

1,642

Nov-18

144

121

Dec-18

$1,012,500

Jan-19

$1,075,000

120 Feb-19

$1,059,000

$1,030,000

2,305

2,034

1,808

1,733

1,436

1,276 175

$1,079,000

207 Mar-19

Inventory

319

267 Apr-19

May-19

Solds

$1,078,250

$1,072,500

$1,060,000

$1,075,000

2,457

2,352

2,188

2,072

368 Jun-19

368 Jul-19

305

$1,007,500

1,909

177

Aug-19

Sep-19

$1,025,000

1,557

200

Oct-19

186 Nov-19

MEDIAN DATA INVENTORY October

November

1,909

1,557 VARIANCE: -18 %

SALE PRICE PER SQFT. October

November

261

$

265 VARIANCE: 2 % $

SOLDS October

November

200

186 VARIANCE: -7 %

SALE TO LIST PRICE RATIO October

SALES PRICE

November

96.09% 95.68% VARIANCE: 0 %

October

1.01m

$

November

1.03m VARIANCE: 2 % $

DAYS ON MARKET October

November

106

81 VARIANCE: -24 %

CHICAGO MARKET SUMMARY | NOVEMBER 2019 • The Chicago single-family luxury market is a Buyer's Market with a 12% Sales Ratio.

• Homes sold for a median of 95.68% of list price in November 2019.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 24%.

• The median luxury sales price for single-family homes has increased to $1,025,000.

• The median days on market for November 2019 was 81 days, down from 106 in October 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

CHICAGO

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | NOVEMBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $750,000 $3,500,000+ $3,000,000 - $3,499,999 $2,500,000 - $2,999,999

$1,200,000 - $1,299,999

$950,000 - $999,999 $900,000 - $949,999

$850,000 - $899,999 $800,000 - $849,999 $750,000 - $799,999

1

Buyer's Market

42

Total Sales Ratio2: 8%

64

4

143

5 39

2

48

3

54

3

$1,100,000 - $1,199,999 $1,000,000 - $1,099,999

Total Sales: 76

3

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

$1,300,000 - $1,399,999

Total Inventory: 939

20

0

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

$1,400,000 - $1,499,999

43

3

46

9

46

6

71

6 42

6

89

7 65

8

127

11

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$770,000

2

2

1

34

3%

1,500 - 2,499

$950,000

3

3

31

377

8%

2,500 - 3,499

$982,500

3

4

24

276

9%

3,500 - 4,499

$1,922,500

3

3

5

92

5%

4,500 - 5,499

$2,800,000

3

3

3

30

10%

5,500+

NA

NA

NA

0

22

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.

CHICAGO

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$950,000

795

$975,000

$1,015,000

866

735

608

94

83

Nov-18

Dec-18

$977,500

53

Jan-19

Inventory

$892,000

$932,500

959

985

60

88

Feb-19

Mar-19

$919,000

1,050

157

152

Apr-19

May-19

Solds

$1,025,000

$1,050,000

$1,092,500

1,126

1,111

1,066

Jun-19

Jul-19

$975,000

Sep-19

939

117

110

Aug-19

$1,005,700

1,069

1,055

147

137

133

$1,016,255

Oct-19

76 Nov-19

MEDIAN DATA INVENTORY October

November

1,069

SOLDS October

November

939 VARIANCE: -12 %

76 VARIANCE: -35 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

October

November

463

$

456 VARIANCE: -2 % $

117

October

November

98.28% 97.66% VARIANCE: -1 %

SALES PRICE October

November

975k

$

$

1.01m VARIANCE: 3 %

DAYS ON MARKET October

November

82

40 VARIANCE: -51 %

CHICAGO MARKET SUMMARY | NOVEMBER 2019 • The Chicago attached luxury market is a Buyer's Market with an 8% Sales Ratio.

• Homes sold for a median of 97.66% of list price in November 2019.

• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 20%.

• The median luxury sales price for attached homes has increased to $1,005,700.

• The median days on market for November 2019 was 40 days, down from 82 in October 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 773.383.7689.

- Patrick Ryan

PATRICK RYAN

773.383.7689 | patrick@genuinere.com