Patrick Ryan Luxury Market Report FEB 2020

PATRICK RYAN L U X U RY MARKET REPORT

CHICAGO

FEBRUARY 2020

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.

THIS IS YOUR

LUXURY MARKET REPORT 



  

 

    

    





 





      

     



  

  









 







 

 



     

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 © 2020 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 A Look at Wealth for 2020 “How Will the Wealthy Fare in 2020?” is an exclusive report recently published by Wealth-X1, a world leader in wealth information and insights. Understanding the impacts that affect the wealthy is obviously critical to luxury real estate as they shape the spending power and ultimately the decisions of the affluent.

The report may be surprising because, despite geopolitical uncertainty and inflamed economic growth, they predict that 2020 will be “a year of solid expansion for the world’s wealthiest individuals.”

GLOBAL OUTLOOK FOR 2020 HOW WILL THE WEALTHY FARE?

Wealth-X forecast that the global wealthy population will continue to grow with the Very-High Net Worth (VHNW), whose net worth is valued between $5-$30 million rising quickly, but even more sharply among the Ultra-High Net Worth (UHNW) with wealth over $30 million.

OPULATION WILL OW AT A MODEST

LAR PERFORMANCE IN 2019

ar of solid expansion in the global eir respective wealth. This follows hat unanticipated performance in of substantial gains in the equities the wealthy improved over the yet worries remain over febrile including ongoing trade tensions, d unpredictable policymaking.

NUMBER OF WEALTHY INDIVIDUALS BY WEALTH TIER (GLOBAL) $1m-$5m in net worth

VERY HIGH NET WORTH (VHNW) $5m-$30m in net worth

2018

2019

high net worth individuals to grow on in 2020, with such individuals wealth of over $110trn. Like the h is distributed unevenly among ity rising quickly above the $5m so among those with over $30m+ ing, growth in the number of such ected to be around 5-6% across all

2020F 306,990

265,490 2,420,740

291,470

2,815,210

2,668,240

22,242,000 1

ULTRA HIGH NET WORTH (UHNW) $30m+ in net worth

23,504,710

20,066,480

Note: F stands for forecast.

Source: Wealth-X Wealth and Investable Assets Model January 2020

1

Wealth-X is a preferred partner of The Institute for Luxury Home Marketing.

S AND KEY EVENTS IN 2020

WHAT DRIVES WEALTH GROWTH?

TOP 10 VHNW COUNTRIES

The number of VHNW individuals rose over 10% in 2019 as compared to only 1% in 2018 and reflects a strong bounce back in asset wealth, partially due to the stock market performances and despite a slowing global economy.

This growth was not evenly distributed throughout the world though, with North America seeing the biggest increases in both numbers and collective net worth by around 15% - equivalent to a 40% global share. Asia and Africa also hit double digits, but the rest of the world saw moderate to stagnate results.

Population

Wealth

Rank

Country

2019 population

Year-on-year 2019 Year-on-year change (%) wealth ($bn) change (%)

1

United States

969,075

15.9

9,497

15.8

2

China

259,830

11.8

2,588

11.8

3

Japan

186,250

11.4

1,849

11.3

4

Germany

129,875

2.8

1,319

2.8

5

France

103,380

10.2

1,032

10.2

6

United Kingdom

97,010

2.8

959

2.8

7

Canada

76,510

9.4

795

9.4

8

Hong Kong*

63,530

10.5

663

10.5

9

South Korea

51,980

4.6

516

4.6

10

Italy

51,295

1.1

520

1.1

Note: Population numbers are rounded to the nearest 5. Annual changes are measured based on model inputs updated retrospectively and not on previously published figures. For further information about our Wealth and Investable Assets Model, please see the Methodology section. *Hong Kong is a semi-autonomous, special administrative region of China.

Source: Wealth-X

Top 10 VHNW by density Both the US and Canada’s wealth countries creation were supported by stable economic conditions, good consumer (Number of VHNW individuals per million adults) spending and declining unemployment. However, as Wealth-X explains, the major increase in wealth portfolio truly came from booming equities, supported by a shift in the US Federal Reserve’s policy, which resulted in HongThis Kong* three interest-rate cuts. influx of liquidity propelled North American stock markets to9,679 record highs with the S&P 500 closing the year up by 29%; the tech-heavy NASDAQ Composite Index up by 36%; and Canada’s 6,912 Switzerland TSX Composite Index 19% higher (in local-currency terms).

5,831

Luxembourg

As we look ahead into 2020, Wealth-X predicts that the number of high net worth individuals (those with $1 4,157 Singapore million+ in net worth) by 5.7% to a total of 26.6 million, accounting for a combined wealth of over $110 trillion.

United States

3,649

While the $1-5 million cohorts are still the largest group, Wealth-X expects that the significance of a 10% 3,229 look as they now command over 25% of all Sweden growth in population in the VHNW category bears a closer millionaires’ wealth. Denmark 3,178 They have their own distinctive traits, origins of wealth, and how they allocate their assets and wealth. In Ireland 3,155 particular, this group was able to the leverage the stabilization of the monetary, industrial, and economic Qatar 3,000 markets during 2019 and now have a combined wealth of $26.6 trillion. In North America, this resulted in a Norway 2,996 in net worth to a combined amount of $10.3 trillion.

15.3% growth in the number of individuals and 15.2% While VHNW individuals have common character traits region across all wealth tiers, the biggest defining difference *Hong Kong is a semi-autonomous, special administrative of China.

Sources: Wealth-X 2020; World Bank is the dominance of self-created wealth, with eight in every ten being self-made.

11

WEALTH-X VERY HIGH NET WORTH HANDBOOK 2020

s term

As we have previously reported, changing working practices, especially in North America, have led to the rise in opportunity for entrepreneurship. This is especially true for those who are able to leverage technology, both to enhance their product offering, but also to reach a larger target audience.

Looking forward to the rest of 2020 and beyond, Wealth-X assessed the uncertainty in the US — ­­with global geopolitical and trade tensions, inflationary pressures and looming election, their prediction model shows What we found to constrain wealth growth in the longer term.” “that even a recession is unlikely

The good news is that even with a recession, our model predicts the total The model below predicts there is recession (similar to dot-com in the early 2000s), wealth and that the if number ofa wealthy individuals to the grow over abubble five-year 4 be impacted negatively during the recession and the following year. Thereafter, once only tinued ifthat wealth would period . In the recessionary scenario, wealth would be impacted negatively s largesteconomic recovery starts assets,and business and theyear. stockBut market push wealth and the number of during the that recession the following once will economic recovery gets underway, the stock marketgrowth and other asset prices recover, wealthy up again.

If there isn’t abusinesses, recession, then a continual in the total wealth and number of wealthy both wealth and the number of wealthy individuals up. is predicted overpushing the next 5 years. y to the remain, POPULATION OF US INDIVIDUALS WITH $5M+ IN NET WORTH market ($ REFERS TO TOTAL WEALTH) perform 1,600,000

on, or on pected?

ealth of eoretical ization’s d should

ms ide

r in 0s, ose ate

CS

1,535,190 $30.0trn 1,412,960 $27.6trn

1,400,000

1,000,000 800,000

1,220,920 $23.7trn

1,062,820

1,200,000 917,830

$20.9trn $18.0trn

600,000 Wealth-X Central forecast

400,000

Optimistic scenario

Pessimistic scenario

200,000 2018

2019

2020F

2021F

2022F

2023F

2024F

Note: F stands for forecast.

Source: Wealth-X Wealth and Investable Assets Model January 2020

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 sell their luxury home in today’s market, we recommend working with a Realtor who can capitalize on the preferences of current investors.

ents with both a top-down and on-the-ground understanding of the wealthy.

s combined wealth, Wealth-X Analytics leverages our Wealth and Investable Assets Model. This model al private wealth and estimates the size of the population by level of wealth and investable assets for or over 100 of the world’s major cities.

e our unique and proprietary Wealth-X Database, the world’s largest collection of records on wealthy Dossier provides insights into an individual’s financial profile, career history, known associates, hropic endeavors, passions, hobbies, interests and much more.

e financial services, luxury, not-for-profit, and higher-education sectors to fuel strategic decision-

s our full suite of data-driven prospecting solutions, visit wealthx.com/solutions/ at wealthx.com or

– 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.

80

DAYS ON MARKET

71 64

58

60

60 53

48

55 45

40

38

43

35 35

37 37

MAY

JUN

31

39 44

47

52

50 53

48 40

44

40

38

20

0

JAN

FEB

MAR

APR

JUL

AUG

SEP

OCT

NOV

DEC

JAN

$449 $363

$436 $369

$480 $346

$486 $358

$348

$330

$452

$492

$499 $313

$357

$348

$365

$456

$473

$519

$461

$345

$300

$354

$472

$400

$477

$500

$354

PRICE PER SQUARE FOOT

$600

$200

$100

$0

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

DEC

JAN

SALES PRICE VS. LIST PRICE

$1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

Discrepancies between statistics published between the December 2019 and January 2020 Luxury Market Reports are due to the addition of Durango, CO and Anne Arundel County, MD.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month December 2019 | January 2020

SINGLE-FAMILY HOMES December

January

December

January

35,379

36,427

Median List Price

$1,624,925 $1,597,450

Total Inventory

Median Sale Price

$1,275,000

$1,310,000

New Listings

4,924

10,738

Median SP/LP Ratio

96.87%

96.60%

Total Sold

6,864

5,086

Total Sales Ratio

19.40%

13.96%

60

71

$369

$363

3,741

3,685

Median Price per Sq. Ft.

Median Days on Market Average Home Size

Median prices represent properties priced above respective city benchmark prices.





5,814

1,778

New Listings

Total Sold





11

5.44%

Med. Sale Price

Days on Market

Sales Ratio

35,000

$



SINGLE-FAMILY HOMES MARKET SUMMARY | JANUARY 2020 •

Official Market Type: Buyer’s Market with a 13.96% Sales Ratio.1

•

Homes are selling for an average of 96.60% of list price.

•

The median luxury threshold2 price is $920,000, and the median luxury home sales price is $1,310,000.

•

Markets with the Highest Median Sales Price: LA Beach Cities ($4,500,000), San Francisco ($4,127,500), Vail ($3,637,500), and Sillicon Valley ($3,480,000).

•

Markets with the Highest Sales Ratio: Seattle (52%), Sacramento (35%), Greater Seattle (31%), and Colorado Springs (30%).

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 December 2019 | January 2020

ATTACHED HOMES December

January

Median List Price

$1,049,900

$999,900

Total Inventory

Median Sale Price

$877,000

$870,000

98.08%

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

December

January

14,986

15,159

New Listings

2,540

4,463

97.81%

Total Sold

2,505

1,992

16.72%

13.14%

Median Days on Market

44

53

$436

$449

1,999

2,055

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





1,923

513

New Listings

Total Sold





Med. Sale Price

Days on Market

7,000

$

9



3.58% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | JANUARY 2020 •

Official Market Type: Buyer’s Market with a 13.14% Sales Ratio.1

•

Attached homes are selling for an average of 97.81% of list price.

•

The median luxury threshold2 price is $650,000, and the median attached luxury sale price is $870.000.

•

Markets with the Highest Median Sales Price: Vail ($4,250,000), San Francisco ($2,265,000), Greater Boston ($2,150,000), and Naples ($1,975,000).

•

Markets with the Highest Sales Ratio: GTA-Durham (94%), LA - The Valley (79%), Silicon Valley (73%), and GTA-York (56%).

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

$1,162,450

$1,000,000

538

221

50

52

Buyer's

AZ

Paradise Valley

$2,999,990

$2,430,000

235

48

30

106

Buyer's

AZ

Phoenix

$769,000

$632,000

610

207

152

66

Seller's

AZ

Scottsdale

$1,695,000

$1,310,000

844

183

86

94

Buyer's

AZ

Tucson

$759,933

$652,000

688

246

91

40

Buyer's

BC

Okanagan Valley

$1,599,900

$1,175,000

167

18

1

164

Buyer's

BC

Vancouver

$4,198,000

$3,400,000

934

281

33

42

Buyer's

BC

Victoria

$1,900,000

$1,415,000

289

99

34

40

Buyer's

CA

Los Angeles Beach Cities

$5,500,000

$4,500,000

417

156

66

74

Balanced

CA

Los Angeles City

$4,498,000

$2,950,000

777

337

104

53

Buyer's

CA

Los Angeles The Valley

$2,299,000

$1,750,000

439

202

93

40

Seller's

CA

Marin County

$4,200,000

$3,187,500

69

14

14

107

Balanced

CA

Napa County

$2,900,000

$2,182,500

103

10

8

157

Buyer's

CA

Orange County

$2,650,000

$1,950,000

1,137

302

249

75

Seller's

CA

Palm Springs & Palm Desert

$1,895,000

$1,450,000

514

123

57

53

Buyer's

CA

Placer County

$999,000

$860,750

137

41

32

63

Seller's

CA

Sacramento

$795,925

$682,500

515

232

182

37

Seller's

CA

San Diego

$2,395,000

$1,559,500

858

340

230

53

Seller's

CA

San Francisco

$4,600,000

$4,127,500

55

23

16

58

Seller's

CA

Santa Barbara

$3,885,000

$3,253,707

246

60

18

90

Buyer's

CA

Silicon Valley

$3,995,000

$3,480,000

200

111

49

42

Seller's

CA

Ventura County

$1,981,500

$1,435,000

330

113

57

73

Balanced

CO

Boulder

$1,895,000

$1,400,000

155

53

29

110

Balanced

CO

Colorado Springs

$780,000

$660,000

225

72

68

32

Seller's

CO

Denver

$998,000

$815,000

795

305

239

50

Seller's

CO

Douglas County

$1,249,500

$1,077,500

226

66

46

95

Balanced

CO

Durango

$1,350,000

$900,000

97

9

4

170

Buyer's

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

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

$5,072,500

$3,637,500

114

8

6

191

Buyer's

$649,000

$652,000

369

70

37

97

Buyer's

CO

Vail

CT

Central

CT

Coastal Communities of

$1,695,000

$1,290,000

1,139

248

101

147

Buyer's

DC

Washington D.C.

$3,495,000

$3,150,000

53

14

11

56

Balanced

FL

Boca Raton & Delray Beach

$2,485,000

$1,700,000

555

119

35

104

Buyer's

FL

Coastal Pinellas Towns

$1,589,772

$1,540,000

83

19

9

95

Buyer's

FL

Greater Fort Lauderdale

$1,350,000

$1,022,000

1,442

340

118

77

Buyer's

FL

Jacksonville Beaches

$1,277,000

$1,080,000

332

64

31

109

Buyer's

FL

Miami

$1,350,000

$925,000

1,331

260

85

147

Buyer's

FL

Naples

$2,225,000

$2,050,000

771

159

67

156

Buyer's

FL

Orlando

$1,595,000

$1,387,000

458

74

24

89

Buyer's

FL

Palm Beach Towns

$3,300,000

$2,317,500

417

80

28

76

Buyer's

FL

Sarasota & Beaches

$1,747,000

$1,630,000

644

120

42

95

Buyer's

FL

Tampa

$785,000

$710,000

724

198

103

78

Buyer's

GA

Atlanta

$1,249,000

$1,000,000

1,000

316

105

47

Buyer's

HI

Kauai

$2,599,500

$1,365,000

138

17

7

81

Buyer's

HI

Maui

$3,298,000

$2,100,000

219

23

11

256

Buyer's

HI

Oahu

$3,253,500

$2,570,000

242

47

13

53

Buyer's

ID

Northern

$938,000

$795,000

212

39

24

175

Buyer's

IL

Chicago

$1,257,495

$1,030,000

1,280

510

148

135

Buyer's

IN

Hamilton County

$796,500

$710,974

208

31

39

44

Balanced

MA

Greater Boston

$3,850,000

$2,600,000

85

20

22

85

Seller's

MD

Anne Arundel County

$978,000

$844,000

233

63

32

58

Buyer's

MD

Montgomery County

$1,799,000

$1,507,500

229

62

54

36

Seller's

MD

Talbot County

$1,837,500

$1,430,000

76

7

2

90

Buyer's

MD

Worcester County

$949,900

-

41

3

0

-

Buyer's

MI

Oakland County

$749,000

$650,000

865

285

97

66

Buyer's

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

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

MO

St. Louis

$790,500

$687,450

127

34

26

64

Balanced

NC

Charlotte

$949,000

$809,000

719

175

128

55

Balanced

NC

Raleigh-Durham

$724,400

$650,000

834

206

155

0

Balanced

NJ

Ocean County

$897,000

$832,500

540

157

65

82

Buyer's

NV

Las Vegas

$775,000

$630,000

1,344

410

246

60

Balanced

NV

Reno

$1,388,498

$1,175,000

92

17

15

145

Balanced

NY

Brooklyn

$1,588,000

$1,275,000

244

53

10

110

Buyer's

NY

Staten Island

$1,199,999

$1,127,500

174

45

14

95

Buyer's

ON

GTA - Durham

$1,649,450

$1,350,000

186

90

23

71

Buyer's

ON

GTA - York

$2,388,000

$1,672,500

480

226

56

37

Buyer's

ON

Toronto

$3,580,000

$3,050,000

349

202

41

14

Buyer's

TN

Knox County

$789,900

$650,050

186

27

32

89

Balanced

TN

Nashville

$1,099,900

$1,085,000

247

98

67

40

Seller's

TX

Austin

$1,250,000

$773,000

433

170

115

46

Seller's

TX

Collin County

$725,000

$630,000

674

213

100

99

Buyer's

TX

Dallas

$995,000

$892,500

658

235

103

62

Balanced

TX

Fort Worth

$899,000

$742,500

615

197

68

72

Buyer's

TX

Houston

$850,000

$697,500

1,648

549

168

56

Buyer's

TX

The Woodlands & Spring

$884,000

$703,500

360

101

42

45

Buyer's

UT

Park City

$3,684,000

$2,612,500

248

37

16

142

Buyer's

VA

Arlington & Alexandria

$1,882,000

$1,650,000

92

36

13

48

Buyer's

VA

Fairfax County

$1,850,000

$1,471,075

394

112

50

50

Buyer's

VA

McLean & Vienna

$2,199,700

$1,600,000

196

52

23

68

Buyer's

VA

Richmond

$799,500

$760,000

207

51

37

34

Balanced

WA

Greater Seattle

$2,000,000

$1,600,000

406

135

125

45

Seller's

WA

Seattle

$1,865,000

$1,510,000

114

42

59

25

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

$849,500

$812,500

227

89

18

39

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$750,000

$619,000

263

87

48

85

Balanced

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,880,000

$1,605,000

682

255

44

49

Buyer's

BC

Victoria

$799,900

$749,950

242

110

30

30

Buyer's

CA

Los Angeles Beach Cities

$1,875,000

$1,330,000

148

72

33

30

Seller's

CA

Los Angeles City

$1,575,000

$1,250,000

285

116

75

47

Seller's

CA

Los Angeles The Valley

$769,000

$688,500

71

38

56

22

Seller's

CA

Marin County

$1,547,500

$1,115,000

12

5

2

6

Balanced

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,137,000

$902,500

344

137

106

41

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,159,000

$860,000

453

217

99

53

Seller's

CA

San Francisco

$2,649,500

$2,265,000

124

38

22

61

Balanced

CA

Santa Barbara

$1,799,500

$1,800,000

36

9

5

111

Buyer's

CA

Silicon Valley

$1,399,000

$1,350,000

51

37

37

18

Seller's

CA

Ventura County

$769,000

$740,000

51

22

18

59

Seller's

CO

Boulder

$999,900

$900,000

55

25

20

112

Seller's

CO

Colorado Springs

-

-

-

-

-

-

-

CO

Denver

$699,593

$609,000

424

164

133

39

Seller's

CO

Douglas County

$549,000

$659,000

19

10

3

142

Balanced

CO

Durango

$792,000

$725,000

40

4

3

78

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.

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

$3,799,000

$4,250,000

109

13

5

124

Buyer's

CO

Vail

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$795,000

$582,500

213

37

22

145

Buyer's

DC

Washington D.C.

$1,799,000

$1,472,000

138

59

46

17

Seller's

$975,000

$955,000

463

110

27

85

Buyer's

$977,000

$735,000

138

15

13

41

Buyer's

$875,000

$754,000

1,231

216

68

86

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

FL

Jacksonville Beaches

$1,150,000

$1,012,500

37

7

5

15

Buyer's

FL

Miami

$1,050,000

$860,000

2,854

375

52

237

Buyer's

FL

Naples

$2,112,500

$1,975,000

298

69

24

68

Buyer's

FL

Orlando

$689,000

$707,500

51

13

11

154

Seller's

FL

Palm Beach Towns

$1,537,500

$1,145,000

424

86

28

105

Buyer's

FL

Sarasota & Beaches

$1,350,000

$1,050,000

270

79

65

0

Seller's

FL

Tampa

$844,750

$654,000

110

35

15

41

Buyer's

GA

Atlanta

$662,458

$603,750

576

202

56

37

Buyer's

HI

Kauai

$1,395,000

$1,500,000

80

9

5

188

Buyer's

HI

Maui

$1,700,000

$1,425,000

146

23

17

148

Buyer's

HI

Oahu

$1,265,000

$1,043,000

381

76

32

57

Buyer's

ID

Northern Idaho

-

-

-

-

-

-

-

IL

Chicago

$1,172,500

$928,000

800

329

61

100

Buyer's

IN

Hamilton County

-

-

-

-

-

-

-

MA

Greater Boston

$2,325,000

$2,150,000

217

74

55

38

Seller's

MD

Anne Arundel County

$589,450

$537,495

36

14

10

81

Seller's

MD

Montgomery County

$799,000

$675,000

143

60

33

20

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$627,000

$582,500

116

21

4

36

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

MO

St. Louis

-

-

-

-

-

-

-

NC

Charlotte

$759,900

$840,000

171

23

13

65

Buyer's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$669,000

$567,000

95

22

10

117

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,299,000

$1,240,000

533

125

60

74

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - Durham

$677,450

$648,750

34

39

32

8

Seller's

ON

GTA - York

$879,390

$860,000

170

162

95

12

Seller's

ON

Toronto

$1,298,000

$1,150,000

427

312

139

18

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$995,000

$615,000

83

19

17

23

Balanced

TX

Austin

$892,000

$614,250

156

52

30

46

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$749,000

$1,120,000

184

54

12

55

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$799,000

$582,450

324

93

16

48

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,996,500

$1,700,000

172

14

15

69

Buyer's

VA

Arlington & Alexandria

$1,360,000

$990,000

48

34

25

9

Seller's

VA

Fairfax County

$731,795

$665,000

152

69

45

27

Seller's

VA

McLean & Vienna

$1,328,000

$870,000

29

12

5

187

Balanced

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,134,975

$963,250

108

44

44

60

Seller's

WA

Seattle

$1,283,940

$957,500

68

18

21

72

Seller's

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

Luxury is in each detail.

Hubert de Givenchy

C HI CA G O I LL I N O I S –February 2020–

CHICAGO

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JANUARY 2020 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

39

0 36

0

35

1

$1,500,000 - $1,699,999

$1,300,000 - $1,499,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999 $1,000,000 - $1,099,999

4

Total Sales Ratio2: 12% 70

7

105

5 96

9

125

12 85

10

101

14 95

14

142

24

$800,000 - $899,999

1

Buyer's Market 48

$900,000 - $999,999

$750,000 - $799,999

Total Sales: 148 40

4

$2,000,000 - $2,399,999 $1,700,000 - $1,999,999

Total Inventory: 1,280

153

24

110

20

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$800,000

4

4

11

90

12%

3,000 - 3,999

$925,000

4

4

25

303

8%

4,000 - 4,999

$1,092,500

4

5

46

281

16%

5,000 - 5,999

$1,135,000

5

6

16

184

9%

6,000 - 6,999

$1,135,787

5

6

15

123

12%

7,000+

$2,275,000

6

8

11

161

7%

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

$1,079,000

$1,075,000 $1,012,500

1,436 121

207

120

Jan-19

Feb-19

Mar-19

$1,030,000

267 Apr-19

$1,078,250

2,457

2,305

2,034

1,808

1,733

$1,059,000

319 May-19

Inventory

$1,072,500

2,352

368

368

Jun-19

Solds

$1,060,000

$1,075,000

2,188

2,072

305

Jul-19

$1,025,000

$1,007,500

Aug-19

1,909

177

Sep-19

1,557

200

$1,076,125

1,318

Nov-19

1,280 199

186

Oct-19

$1,030,000

Dec-19

148 Jan-20

MEDIAN DATA INVENTORY December

January

1,318

1,280 VARIANCE: -3 %

SALE PRICE PER SQFT. December

January

274

$

261 VARIANCE: -5 % $

SOLDS December

January

199

148 VARIANCE: -26 % SALE TO LIST PRICE RATIO December

January

95.68% 95.51% VARIANCE: 0 %

SALES PRICE December

1.08m

$

January

1.03m VARIANCE: -4 % $

DAYS ON MARKET December

January

117

135 VARIANCE: 15 %

CHICAGO MARKET SUMMARY | JANUARY 2020 • The Chicago single-family luxury market is a Buyer's Market with a 12% Sales Ratio.

• Homes sold for a median of 95.51% of list price in January 2020.

• The most active price band is $750,000-$799,999, where the sales ratio is 18%.

• The median luxury sales price for single-family homes has decreased to $1,030,000.

• The median days on market for January 2020 was 135 days, up from 117 in December 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 | JANUARY 2020 Inventory

Sales

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

$1,300,000 - $1,399,999 $1,200,000 - $1,299,999

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

0

Total Sales Ratio2: 8% 50

2

127

4 33

1

37

2

51

2

$750,000 - $799,999

1

40

6

45

4

64

5 35

6

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

Buyer's Market

37

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

Total Sales: 61

20

2

$1,500,000 - $1,999,999 $1,400,000 - $1,499,999

Total Inventory: 800

32

0

70

8 57

5

102

14

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$750,000

2

2

2

29

7%

1,500 - 2,499

$917,500

3

3

30

299

10%

2,500 - 3,499

$968,188

3

4

18

244

7%

3,500 - 4,499

$975,000

4

4

5

88

6%

4,500 - 5,499

$2,072,813

5

5

2

25

8%

5,500+

NA

NA

NA

0

20

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

$1,015,000

$977,500

866

735

53

Jan-19

$892,000

$932,500

959

985

60

88

Feb-19

Mar-19

$919,000

1,050

157 Apr-19

152 May-19

Inventory

$1,025,000

$1,050,000

$1,092,500

1,126

1,111

1,066

Jun-19

$1,016,255

Jul-19

Aug-19

$1,005,700

$975,000

1,069

1,055

147

137

133

Solds

110

Sep-19

939

117

Oct-19

$950,000

$928,000

810

800

76

87

Nov-19

Dec-19

61 Jan-20

MEDIAN DATA INVENTORY December

January

810

800 VARIANCE: -1 %

SALE PRICE PER SQFT. December

January

406

$

436 VARIANCE: 7 % $

SOLDS December

January

87

61 VARIANCE: -30 % SALE TO LIST PRICE RATIO December

January

96.50% 96.82% VARIANCE: 0 %

SALES PRICE December

950k

$

January

928k VARIANCE: -2 % $

DAYS ON MARKET December

January

80

100 VARIANCE: 25 %

CHICAGO MARKET SUMMARY | JANUARY 2020 • The Chicago attached luxury market is a Buyer's Market with an 8% Sales Ratio.

• Homes sold for a median of 96.82% of list price in January 2020.

• The most active price band is $900,000-$949,999, where the sales ratio is 17%.

• The median luxury sales price for attached homes has decreased to $928,000.

• The median days on market for January 2020 was 100 days, up from 80 in December 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