Patrick Ryan Luxury Market Report OCT 19

PATRICK RYAN L U X U RY MARKET REPORT

CHICAGO

OCTOBER 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 priceper-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 indepth reports on the luxury communities in your market are available as well.

Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.

By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher.

A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.

REPORT GLOSSARY REMAINING INVENTORY: The total number of homes available at the close of a month.

DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.

LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes.

NEW LISTINGS: The number of homes that entered the market during the current month.

PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.

SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory.

SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.

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MAP OF LUXURY RESIDENTIAL MARKETS

W

elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report

provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.

Copyright © 2019 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.

NORTH AMERICAN LUXURY REVIEW Static Market Leads to Focs on Future Trends In last month’s Luxury Market Report, we reviewed how the changing face of the real estate industry now fully recognizes the importance of including amenities that address the physical, social, and mental/emotional wellness of its residents. Today’s demand shows that for many buyers, larger properties are viewed as too labor-intensive and expensive to manage and maintain. Instead, home purchase decisions are trending towards smaller properties with the experiences and amenities a property affords to its owner.

Interestingly a first glance at the statistics shows that in last 18 months, the luxury market has been pretty static. But rather than this illustrating that the market is ‘status quo’ in terms of demand, these figures really show that there is still a strong confidence in the luxury market in terms of financial investment. Digging a little deeper into the data reveals that the money has been shifting gradually into the new demand pockets mentioned above.

This is why it’s so important to analyze the statistics. When there is little movement, the real changes can be going on behind the scenes in emerging trends; making it even more critical to pay attention.

The dramatic increases in the levels of property ownership over the last 50 years was greatly influenced by a changing economy from blue-collar to white-collar as well as women entering the workforce. However, while some predict that real estate will remain a long-term investment, others foresee a downward shift as the millennial population seek co-living and rental opportunities.

In the high-end market, the growing number of affluent will certainly mitigate a downward shift and its unlikely the millennial millionaire population will be seeking co-living or rentals, but they are shifting their preferences. Their attention is directed to finding opportunities in new markets, diversifying their portfolio, choosing locations that offer experiences, and discreetly spending on intangibles such as health and wellness.

But let’s not to be too hasty in dismissing the co-habitation amongst the wealthy, quite the opposite there is an increasing interest experiencing “community”, mutual activities and even sharing concepts. Overcoming isolation has become increasingly important, look only to luxury condominium and townhome complexes are integrating an array of amenities into large spaces designated for common use including stunning roof

top gardens, dog areas, demonstration kitchens, wine bars and coffee lounges, pool decks and quiet restorative areas for gardening, yoga, reading, and relaxing.

New emerging markets have been a topic long discussed with cities such as Austin, Raleigh/Durham, Nashville, Charlotte, Boston, Dallas/Fort Worth, Orlando, Atlanta, and Seattle taking the limelight. Success can be partly attributed to these cities and their suburbs evolving by integrating the concept of live, work, and play. Growing out of this concept is a new trend, that appeared this year, termed "hispturbia", which credits it as being a cool suburb. Where previously downtown and a few central districts were the places to “live,” this lifestyle has appealed to the desire of other more affordable suburbs to create their own versions.

When we look to the future, it is easy to only consider the demand and desires of the next generation. However, with such a large generation of baby boomers, it must be recognized that they are also going to affect future trends.

Through incredible advances in life expectancy and an increasing number of 65+ individuals remaining in the workforce (previously considered retirement age), this generation is reshaping a whole sector of real estate development as well as influencing wealth distribution.

It is predicted that their influence on downtown and even hipsturbia districts could be significant as they are not moving to senior housing, but into vibrant, safe, walkable and social communities.

Another trend that has emerged and truly being embraced by the wealthy, as we will see in some recent landmark sales, is the desire to choose homes that offer a lifestyle experience with the integration of energy efficiency and environmental designs.

These homeowners still want homes that offer plenty of space, privacy, and protection, but with today’s clever technology. Instead of palatial mansions, it is features such as smart home automation, unique designs, and custom spaces that are commanding the extraordinary price tags.

Trends such as expansive windows, indoor-outdoor living spaces, magnificent garages to house all the toys, resort-style pools, saunas and hot tubs, statement cellars and attention to eco-friendly features.

California still draws the ultra-wealthy and three landmark properties that sold this year range in price from $27 million for 8,000 sq. ft. home to just under $120 million for a 56,000 sq. ft. home.

Homes in Bel Air will always come with exceptional price tag and although one such property that sold for $119 million was sold for well below market value, it also broke a record as the most expensive in LA County’s history. The home certainly affords its new owner a new experience in each of its 123 rooms, but the price tag includes the status of being home to Hollywood’s elite.

Malibu has become a firm favorite for the wealthy over the last year and

one particular modern home epitomizes the feeling of bringing the outside in with its expansive views of the Pacific Ocean. Likewise, the smallest of our California landmark sales located in Santa Barbara embraces the outdoor lifestyle of California, it will be the exceptional Balinese/Asian influenced design that offers a unique experience to the new owner.

Moving to the opposite coast of Naples, Florida, a 4,200 sq ft property sold for just under $15,700,000 approximately 94% of its original list price. It includes 240 feet of beach frontage and a 2-acre lot that is located close to the heat of old Naples…location, location, location!

In Houston, Texas the iconic 10,000 sq. ft. property designed by Howard Barnstone and frequent host US presidential visits and grand parties sold for 95% of its nearly $16.5 million price tag. Considered a masterpiece, it boasts glass-walled living and dining room, large verandas, and wide decks with sweeping views of lush landscaping, fountains and even a bayou complete with terraced paths and trails.

Hunts Point, WA a waterfront mansion, designed by a local prominent architect Jim Olson, smashed recorded sales for West Washington with a sales tag of $37.5 million. Located in a tiny, exclusive enclave that juts into Lake Washington, this home comes complete with its own boat dock and previously served as an art collector’s paradise.

Park City claimed a significant sale in September. The 20,000 sq. ft. home offers ski-in/out combining mountain luxury with artistic design. Aptly described as being a resort within a resort - no expense was spared in its concept, design and construction.

A stunning penthouse in the downtown core of Denver, CO offers residents towering vistas from its 44th and 45th floors. It was marketed as the physical embodiment of grace and elegance while remaining at its core a modern architectural gem. It is hardly surprising this 6,295 sq. ft. home sold for 100% of its asking price at $10,750,000.

Sold for $21 million, an 8,000 sq. ft. penthouse in one of Miami’s luxurious oceanfront boutique buildings is a stunning example of feeling a world above and apart. It includes a floating staircase connecting two floors, glass elevator, rooftop terrace, infinity pool, summer kitchen and 22 ft. ceilings with 360 degree views!

In a nod to our frequent mentions about brand new developments that are remodeling to embrace the need for wellness and quality amenities, our last featured landmark sale is in Boston, MA. This 5,000 sq. ft. Greek Revival style townhome located in the heart of Boston’s elite neighborhood, sold 116% over asking at $15,750,000. The remodel preserves the grand details and proportions while offering top of the line fixtures and every modern residential amenity.

The most lucrative real estate niches largely depend on market trends and shifting buying interests, but some are long-time 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, in line with trends, it can be marketed effectively to connect with the right potential buyers.

– 13 - MONTH MARKET TRENDS – FOR THE LUXURY NORTH AMERICAN MARKET

Single-Family Homes

Attached Homes

Single-Family List Price

Attached List Price

All data is based off median values. Median prices represent properties priced above respective city benchmark prices.

DAYS ON MARKET

80

60

54

53

40

49

42

38

63

58

56

53

55

47

46

41

45

38

42

35 35

31

37

45

40 43

39

37

32

20

0

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

$503 $365

$502 $344

$501 $351

$498

$474 $365

$382

$541 $390

$383

$470

$490 $379

$373

$483

$488 $348

$486

$458 $376

$300

$344

$400

$495

$500

$322

PRICE PER SQUARE FOOT

$600

$200

$100

$0

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

AUG

SEP

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

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

Discrepancies between statistics published between the September 2019 and October 2019 Luxury Market Reports are due to the addition of Hamilton County, IN and changes recognized in Ontario cities - Durham, Toronto, and York.

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

SINGLE-FAMILY HOMES August

September

August

September

Median List Price

$1,675,000 $1,669,950

Total Inventory

46,293

45,347

Median Sale Price

$1,383,500

$1,317,969

New Listings

10,654

11,747

Median SP/LP Ratio

96.98%

97.15%

Total Sold

7,439

6,183

Total Sales Ratio

16.07%

13.63%

Median Days on Market

53

45

$344

$365

3,685

3,703

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





1,093

1,256

New Listings

Total Sold





8

2.44%

Med. Sale Price

Days on Market

Sales Ratio

65,531

$



SINGLE-FAMILY HOMES MARKET SUMMARY | SEPTEMBER 2019 •

Official Market Type: Buyer's Market with a 13.63% Sales Ratio.1

•

Homes are selling for an average of 97.15% of list price.

•

The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,317,969.

•

Markets with the Highest Median Sales Price: Santa Barbara ($4,513,854), San Francisco ($3,800,000), LA Beach Cities ($3,450,000), and LA City ($3,310,000).

•

Markets with the Highest Sales Ratio: Seattle (32%), Sacramento (29%), Silicon Valley (29%), and Denver (29%).

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 August 2019 | September 2019

ATTACHED HOMES August

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

September

$999,400 $1,039,500

August

September

16,609

16,861

New Listings

4,156

4,926

2,593

2,408

39

37

2,038

2,062

Total Inventory

$877,401

$909,375

98.07%

98.17%

Total Sold

15.61%

14.28%

Median Days on Market

$502

$503

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





770

185

New Listings

Total Sold





Med. Sale Price

Days on Market

31,974

$

2



1.33% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | SEPTEMBER 2019 •

Official Market Type: Buyer's Market with a 14.28% Sales Ratio.1

•

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

•

The median luxury threshold2 price is $702,450, and the median attached luxury sale price is $909,375.

•

Markets with the Highest Median Sales Price: San Francisco ($2,577,500), Vail ($2,497,500), Naples ($2,400,000), and Greater Boston ($2,072,500).

•

Markets with the Highest Sales Ratio: GTA-Durham (79%), LA The Valley (65%), Silicon Valley (45%), and Marin County (44%).

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

$1,188,888

$1,048,750

711

232

84

43

Buyer's

AZ

Paradise Valley

$2,975,000

$2,700,000

199

52

15

96

Buyer's

AZ

Phoenix

$749,999

$607,500

699

222

178

66

Seller's

AZ

Scottsdale

$1,695,000

$1,200,000

748

162

68

103

Buyer's

AZ

Tucson

$750,000

$627,000

645

149

100

34

Balanced

BC

Okanagan Valley

$1,600,000

$1,270,000

793

100

33

79

Buyer's

BC

Vancouver

$3,998,400

$3,290,000

1,172

328

40

26

Buyer's

BC

Victoria

$1,875,000

$1,400,000

435

123

45

43

Buyer's

CA

Los Angeles Beach Cities

$4,995,000

$3,450,000

456

136

44

29

Buyer's

CA

Los Angeles City

$3,999,000

$3,310,000

940

292

122

45

Buyer's

CA

Los Angeles The Valley

$2,049,000

$1,805,000

633

212

122

31

Balanced

CA

Marin County

$3,875,000

$2,950,000

175

40

31

65

Balanced

CA

Napa County

$3,150,000

$2,000,000

172

18

23

108

Buyer's

CA

Orange County

$2,495,000

$2,000,000

1,747

369

271

61

Balanced

CA

Palm Springs & Palm Desert

$1,749,000

$1,525,000

365

73

41

112

Buyer's

CA

Placer County

$1,059,000

$957,500

259

62

52

36

Balanced

CA

Sacramento

$795,000

$715,000

913

303

268

26

Seller's

CA

San Diego

$2,149,000

$1,595,000

1,286

336

243

35

Balanced

CA

San Francisco

$4,215,000

$3,800,000

104

51

28

14

Seller's

CA

Santa Barbara

$3,875,000

$4,513,854

335

52

32

48

Buyer's

CA

Silicon Valley

$3,991,944

$3,150,000

328

156

95

15

Seller's

CA

Ventura County

$1,799,450

$1,400,000

386

101

58

68

Balanced

CO

Boulder

$1,669,950

$1,524,000

272

83

36

81

Buyer's

CO

Denver

$950,000

$815,000

1,306

417

377

26

Seller's

CO

Douglas County

$1,250,000

$1,007,500

329

67

50

50

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

CO

Vail

$4,345,000

$3,050,000

140

7

5

194

Buyer's

DC

Washington D.C.

$2,995,900

$2,520,000

79

47

4

23

Buyer's

$2,250,000

$1,875,000

530

78

38

106

Buyer's

$1,600,000

$1,317,969

80

16

10

103

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$1,297,500

$970,000

1,552

253

101

70

Buyer's

FL

Jacksonville Beaches

$1,249,050

$1,175,000

334

49

17

135

Buyer's

FL

Miami

$1,299,000

$988,400

1,373

215

96

129

Buyer's

FL

Naples

$1,999,000

$1,587,500

656

84

36

161

Buyer's

FL

Orlando

$1,599,900

$1,246,500

495

66

37

111

Buyer's

FL

Palm Beach Towns

$3,400,000

$2,675,000

339

48

19

84

Buyer's

FL

Sarasota & Beaches

$1,695,000

$1,500,000

503

63

30

82

Buyer's

FL

Tampa

$798,850

$702,500

870

186

130

39

Buyer's

GA

Atlanta

$1,177,000

$920,000

1,356

357

149

51

Buyer's

HI

Kauai

$2,597,000

$1,475,000

116

12

5

6

Buyer's

HI

Maui

$3,147,500

$2,175,000

200

22

13

241

Buyer's

HI

Oahu

$3,248,500

$2,637,500

268

59

20

37

Buyer's

IL

Chicago

$1,217,950

$1,075,000

2,072

674

177

83

Buyer's

IN

Hamilton County

$754,500

$685,000

334

63

55

43

Balanced

MA

Greater Boston

$3,250,000

$2,470,000

170

69

20

65

Buyer's

MD

Montgomery County

$1,699,900

$1,450,000

387

145

49

39

Buyer's

MD

Talbot County

$1,797,000

$1,775,000

124

21

6

159

Buyer's

MD

Worcester County

$949,950

$795,000

58

4

9

46

Balanced

MI

Oakland County

$725,000

$603,625

1,314

396

172

33

Buyer's

MO

St. Louis

$769,000

$664,000

225

79

50

47

Seller's

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

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

NC

Charlotte

$899,900

$775,000

958

193

194

31

Balanced

NC

Raleigh-Durham

$715,000

$692,500

1,112

227

168

4

Balanced

NJ

Ocean County

$889,000

$780,000

792

189

65

52

Buyer's

NV

Las Vegas

$725,000

$615,000

1,798

455

322

37

Balanced

NV

Reno

$1,325,000

$1,200,000

163

21

17

119

Buyer's

NY

Brooklyn

$1,599,500

$1,299,000

294

59

15

146

Buyer's

NY

Staten Island

$1,200,000

$1,100,000

214

39

7

91

Buyer's

ON

GTA - Durham

$1,599,000

$1,225,000

296

130

26

28

Buyer's

ON

GTA - York

$2,295,000

$1,710,000

871

425

79

24

Buyer's

ON

Toronto

$3,449,950

$3,250,000

574

377

79

10

Buyer's

TN

Knox County

$784,950

$599,900

260

43

45

25

Balanced

TN

Nashville

$1,099,000

$892,100

317

110

76

15

Seller's

TX

Austin

$1,010,000

$835,000

687

185

185

28

Seller's

TX

Collin County

$699,000

$680,000

948

201

137

52

Buyer's

TX

Dallas

$999,500

$894,000

1,005

282

137

50

Buyer's

TX

Fort Worth

$850,000

$743,000

909

204

141

34

Balanced

TX

Houston

$824,900

$687,500

2,125

552

263

41

Buyer's

TX

The Woodlands & Spring

$817,450

$696,000

516

103

56

43

Buyer's

UT

Park City

$3,300,000

$2,725,000

263

17

20

57

Buyer's

VA

Arlington & Alexandria

$1,975,000

$1,625,000

114

44

17

16

Buyer's

VA

Fairfax County

$1,675,000

$1,550,000

584

177

67

38

Buyer's

VA

McLean & Vienna

$1,899,450

$1,765,000

254

89

29

28

Buyer's

WA

Greater Seattle

$1,888,000

$1,570,000

995

340

232

18

Seller's

WA

Seattle

$1,789,000

$1,496,500

315

136

102

14

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

$809,900

$820,000

293

105

25

65

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$747,450

$605,000

204

48

31

69

Balanced

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,866,000

$1,725,000

827

306

45

51

Buyer's

BC

Victoria

$824,950

$800,000

296

117

65

38

Seller's

CA

Los Angeles Beach Cities

$1,849,000

$1,490,000

229

81

59

14

Seller's

CA

Los Angeles City

$1,499,000

$1,290,000

384

130

81

21

Seller's

CA

Los Angeles The Valley

$710,000

$668,500

107

55

70

27

Seller's

CA

Marin County

$1,317,550

$1,150,000

16

7

7

34

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,049,000

$930,000

515

166

133

32

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,082,750

$850,000

607

204

117

31

Balanced

CA

San Francisco

$2,795,000

$2,577,500

152

60

36

12

Seller's

CA

Santa Barbara

$1,790,000

$1,435,000

57

15

3

34

Buyer's

CA

Silicon Valley

$1,463,170

$1,400,000

128

67

57

13

Seller's

CA

Ventura County

$764,000

$660,000

63

23

21

53

Seller's

CO

Boulder

$849,000

$799,000

77

24

21

76

Seller's

CO

Denver

$675,000

$603,500

599

185

185

28

Seller's

CO

Douglas County

$615,000

$590,000

31

7

7

36

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

CO

Vail

$3,947,500

$2,497,500

100

11

6

432

Buyer's

DC

Washington D.C.

$1,750,000

$1,682,500

208

105

30

15

Buyer's

$975,000

$800,000

384

78

23

67

Buyer's

$1,375,000

$888,750

137

50

10

100

Buyer's

$875,000

$715,000

1,190

165

59

93

Buyer's

$1,030,000

$1,200,000

46

9

6

82

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

FL

Jacksonville Beaches

FL

Miami

$999,000

$1,025,000

2,715

282

61

268

Buyer's

FL

Naples

$2,125,000

$2,400,000

213

26

6

146

Buyer's

FL

Orlando

$699,000

$580,000

77

17

7

12

Buyer's

FL

Palm Beach Towns

$1,454,500

$1,987,500

332

56

18

202

Buyer's

FL

Sarasota & Beaches

$1,399,500

$1,050,000

212

31

14

147

Buyer's

FL

Tampa

$725,000

$660,500

121

26

14

28

Buyer's

GA

Atlanta

$675,000

$594,500

585

174

94

32

Balanced

HI

Kauai

$1,422,500

$1,000,000

82

8

6

30

Buyer's

HI

Maui

$1,812,500

$1,712,500

132

24

14

239

Buyer's

HI

Oahu

$1,300,000

$1,150,000

442

86

51

81

Buyer's

IL

Chicago

$1,150,000

$1,016,255

1,055

397

110

79

Buyer's

IN

Hamilton County

-

-

-

-

-

-

-

MA

Greater Boston

$2,299,500

$2,072,500

314

124

42

67

Buyer's

MD

Montgomery County

$774,989

$667,500

161

68

44

28

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$599,000

$572,000

113

16

5

39

Buyer's

MI

Oakland County

$669,900

$638,000

61

25

4

10

Buyer's

MO

St. Louis

-

-

-

-

-

-

-

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

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

NC

Charlotte

$705,000

$675,000

143

43

23

10

Balanced

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$699,000

$619,500

135

29

12

119

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,325,000

$1,080,000

721

166

70

79

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - Durham

$616,500

$575,000

122

127

96

11

Seller's

ON

GTA - York

$849,950

$796,000

352

252

107

17

Seller's

ON

Toronto

$1,318,000

$1,200,000

637

514

251

10

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$885,000

$569,450

84

21

24

14

Seller's

TX

Austin

$774,495

$650,000

198

47

37

49

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$784,900

$630,000

211

55

24

46

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$649,450

$558,450

196

59

14

73

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,950,000

$1,690,000

163

10

20

281

Buyer's

VA

Arlington & Alexandria

$1,265,000

$1,100,000

55

37

23

9

Seller's

VA

Fairfax County

$714,900

$685,495

181

67

51

15

Seller's

VA

McLean & Vienna

$1,324,000

$1,180,000

34

5

5

23

Buyer's

WA

Greater Seattle

$1,175,000

$995,103

219

73

50

34

Seller's

WA

Seattle

$1,198,000

$1,179,500

145

43

14

38

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 –October 2019–

CHICAGO

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | SEPTEMBER 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

53

1

51

1 36

0

6

Total Sales Ratio2: 9% 95

5

155

9 147

10

232

21 157

14

149

18

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

144

19

$900,000 - $999,999

237

29

$800,000 - $899,999

1

Buyer's Market 66

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

$750,000 - $799,999

Total Sales: 177 61

1

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

Total Inventory: 2,072

282

31 207

12

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$815,000

4

4

14

153

9%

3,000 - 3,999

$950,000

4

4

42

499

8%

4,000 - 4,999

$1,145,000

5

5

47

453

10%

5,000 - 5,999

$1,375,000

5

5

23

301

8%

6,000 - 6,999

$2,106,250

5

6

6

190

3%

7,000+

$2,037,500

6

8

11

240

5%

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 $1,021,250

$1,010,000

$1,008,531

2,003

1,600

124 Sep-18

1,642

198 Oct-18

Nov-18

144 Dec-18

$1,012,500

121 Jan-19

$1,075,000

120 Feb-19

$1,059,000

207 Mar-19

Solds

$1,030,000

2,305

2,034

1,808

1,733

1,436

1,276 175

$1,079,000

Inventory

$1,072,500

$1,060,000

$1,075,000

2,457

2,352

2,188

2,072

368

319

267 Apr-19

$1,078,250

May-19

368

Jun-19

Jul-19

305 Aug-19

177 Sep-19

MEDIAN DATA INVENTORY August

September

August

2,072 VARIANCE: -5 %

305

2,188

SALE PRICE PER SQFT. August

September

280

$

SOLDS

271 VARIANCE: -3 % $

September

177 VARIANCE: -42 % SALE TO LIST PRICE RATIO August

SALES PRICE

September

96.37% 95.16% VARIANCE: -1 %

August

1.06m

$

September

1.08m VARIANCE: 1 % $

DAYS ON MARKET August

September

56

83 VARIANCE: 48 %

CHICAGO MARKET SUMMARY | SEPTEMBER 2019 • The Chicago single-family luxury market is a Buyer's Market with a 9% Sales Ratio.

• Homes sold for a median of 95.16% of list price in September 2019.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 13%.

• The median luxury sales price for single-family homes has increased to $1,075,000.

• The median days on market for September 2019 was 83 days, up from 56 in August 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 | SEPTEMBER 2019 Inventory

Sales

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

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

56

3

2

44

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

135

10

40

2

56

4

66

3

48

13

$950,000 - $999,999

88

6 46

4

$850,000 - $899,999

107

13 68

9

$750,000 - $799,999

1

70

12

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

$800,000 - $849,999

Total Sales Ratio2: 10%

80

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

$900,000 - $949,999

Buyer's Market

8

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

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

Total Sales: 110

2

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

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

Total Inventory: 1,055

19

132

19

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$892,500

2

2

2

33

6%

1,500 - 2,499

$999,999

3

3

47

412

11%

2,500 - 3,499

$1,050,000

3

4

29

317

9%

3,500 - 4,499

$1,400,000

4

4

7

106

7%

4,500 - 5,499

$2,899,950

4

5

6

32

19%

5,500+

$3,400,000

4

5

1

27

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.

CHICAGO

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

Inventory

Solds

$1,162,500 $950,000

$950,000

937

925

121 Sep-18

795

110 Oct-18

$975,000

$1,015,000

866

735

608

94

83

Nov-18

Dec-18

$977,500

53 Jan-19

$892,000

$932,500

959

985

60

88

Feb-19

Mar-19

$919,000

1,050

157 Apr-19

$1,025,000

$1,050,000

$1,092,500

1,126

1,111

1,066

152 May-19

Jun-19

Jul-19

1,055

147

137

133

$1,016,255

Aug-19

110 Sep-19

MEDIAN DATA INVENTORY August

September

1,066

1,055 VARIANCE: -1 %

SALE PRICE PER SQFT. August

September

502

452 VARIANCE: -10 %

$

$

SOLDS August

September

147

110 VARIANCE: -25 % SALE TO LIST PRICE RATIO August

SALES PRICE

September

98.89% 97.15% VARIANCE: -2 %

August

1.09m

$

September

1.02m VARIANCE: -7 % $

DAYS ON MARKET August

September

42

79 VARIANCE: 88 %

CHICAGO MARKET SUMMARY | SEPTEMBER 2019 • The Chicago attached luxury market is a Buyer's Market with a 10% Sales Ratio.

• Homes sold for a median of 97.15% of list price in September 2019.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 27%.

• The median luxury sales price for attached homes has decreased to $1,016,255.

• The median days on market for September 2019 was 79 days, up from 42 in August 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