SEPTEMBERPATRICKRYANLUXURYMARKETREPORTCHICAGO2022
PR has served as a development sales representative, Broker for Buyers and Sellers, Managing Broker, and now President and Designated Broker of www.genuinere.com. Clients work personally with Patrick to achieve residential success. He has a solid support group so you won’t be passed off to someone else less accomplished.
• Top Development Salesperson 2012, @properties
“My clients value that I genuinely care, I have a track record of sustained success, and have been recognized and certified for these efforts. Residential real estate they can respect.”
• Negotiation Certification from Harvard Law School
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• Forbes Real Estate Council 2018-2020
Genuine Real Estate is led by Patrick Ryan, an award-winning residential real estate consultant serving his clientele in Chicago since being licensed in 2004, in addition to assisting on their second home and investment needs in Southern Florida and the Caribbean. He excels in his field having a passion for residential real estate combined with his strong background in sales, marketing and management in prior positions in the pharmaceutical, transportation, and technology industries.
Prior to opening his own brokerage in 2018, he served as the Senior Vice President of Sales for Related Midwest the Chicago affiliate of Related Companies headquartered in New York.
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1720 W. Division, Ste. 47, Chicago, IL 60622 www.genuinere.com RYAN “PR” BROKER CLHMS 773.383.7689 patrick@genuinere.com
PATRICK
• President of the Chicago Chapter of FIABCI (The International Real Estate Federation 2016 and 2017
• Invited Member of Realm Global
• Certified Residential Specialist (a certification only achieved by 3% of Realtors)
• Chicago Association of Realtors Top Producer Award Winner 2008 – 2016, 2019
• Exclusive Chicago Affiliate of Luxury Global Partners
• Managing Broker of the Year Runner Up, Chicago Downtown, 2017
• 2017 Outstanding Achievement Award by the Institute for Luxury Home Marketing
Recognition and Certification:
• Advisory Board Member of The Institute for Luxury Home Marketing
OWNER | MANAGING
Office 312.792.5135
17-20 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 21 LOCAL LUXURY MARKET REVIEW
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22-23 SINGLE-FAMILY HOMES - Monthly Statistics
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11 SINGLE-FAMILY HOMES MONTHLY OVERVIEW
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13-16 MONTHLY STATISTICS BY CITY - Single-Family Homes
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6-9 NORTH AMERICAN LUXURY MARKET REVIEW
4 LUXURY REPORT EXPLAINED PAGE 5 WELCOME MESSAGE
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10 13-MONTH MARKET TRENDS
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12 ATTACHED HOMES MONTHLY OVERVIEW
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TABLE OF CONTENTS
24-25 ATTACHED HOMES - Monthly Statistics PAGE 26 THANK YOU
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.
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REPORT GLOSSARY
It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well.
LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes.
PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.
NEW LISTINGS: The number of homes that entered the market during the current month.
SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
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.
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A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report. Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes.
LUXURY REPORT EXPLAINED
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.
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.
THIS IS YOUR
LUXURY MARKET REPORT
MAP OF LUXURY RESIDENTIAL MARKETS
Copyright © 2022 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been provided by REAL Marketing, who has compiled the data through various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.
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Whether the overall luxury real estate market moves towards a balanced or buyer’s market will likely depend on changes in inventory levels and whether the available homes match buyers' demand. Even at the height of the buyer frenzy in spring 2021, homes that were considerably over-priced or needed extensive renovations or repairs often remained unsold.
Demand for move-in-ready properties remains a top priority for affluent buyers who have little time or desire to embark on any more than simple updating projects. As we highlighted last month, properties that are fully furnished, down to kitchen utensils, dishware, and all the soft furnishings, are highly prized, often seeing some of the shortest days on the market.
While it is contended that we are moving towards a buyer’s market, the current data for August 2022 shows that conditions in most luxury markets are still favorable to sellers – of the 140 single-family markets showcased in our report, 106 remain seller markets. However, the sales ratio percentage, which measures the rate of sales against available inventory each month, is trending downwards in most markets month over month, in comparison to 2021 levels.
The level of inventory may have risen since May 2022, and now approximately 50% higher for single family homes and 18% for attached properties compared to August 2021, but of greater significance is that the number of new listings entering the market has continued to drop since June 2022. Expectations are that these numbers will rise as we enter the fall season, but it seems that some luxury sellers are hesitant to enter the current market.
NORTH AMERICAN LUXURY REVIEW
Market Changes to Consider
Over the last few months, the luxury real estate market has experienced the return of a more normal pace for those looking to buy and sell their homes. Recent trends also continue to show a considerable moderation in the number of sales and the rate of price increases, which has certainly taken the pressure off the market.
Equally, after two long years of unrest and upheaval, many affluent are content with their purchases and now looking for more stability and continuity. So, expectations are that they might not be ready to sell any time soon. If these affluent purchased using a ‘fixed-term’ low-interest rate mortgage, it is also unlikely that they would trade in these favorable terms if they do not have to sell or move unless a life-changing event occurs.
Sellers are facing several problems, including appraisals not matching the value of their asking price and the return of contract contingencies such as requests for repairs or compensation. In the last year especially, these were not included in buyer contracts because multiple offers and cash buyers mitigated these sorts of requests.
It seems that some sellers are not quite ready to contend with the return of negotiating terms or, depending on their level of wealth, simply do not need to sell, so they are ready to wait until the market becomes more favorable.
If we are returning to a more traditional real estate cycle, then over the next couple of months, inventory levels should start to increase again, and we may see more luxury markets become balanced or buyer’s markets.
The drop in new listings might be explained as, traditionally, summer months do see fewer homes enter the market as families take time to vacation. However, according to Danielle Halle, Chief Economist at Realtor.com, “even though home prices are near record highs and home equity has soared, homeowners appear to be less eager to list homes for sale compared to last year. Recent survey data shows that while home sellers are in a good position, typically getting their list price and still generally satisfied with the price and other aspects of their home sale, some of their (seller) markers have shifted over the last year.”
As we move into the fall season, we review both new opportunities and trends that homeowners and investors should consider during their property search.
Emerging City Neighborhoods
Cities from Vancouver and Toronto in Canada to Atlanta, Austin, Chicago, and San Francisco in the US saw their emerging neighborhoods stall in 2020 as people chose to purchase away from the more crowded metropolitan communities.
Return to Urban Living
An increasing number of buyers are starting to return to the larger metropolitan cities for multiple reasons, including simply missing the lifestyle or looking for a potential investment opportunity. This door may close soon, as also in the mix are foreign investors (now that travel restrictions are easing) and first-time buyers heading to urban markets looking for the opportunity to purchase a property. Experts predict that city markets may see stronger returns on investment than their suburban counterparts.
While cities are starting to experience an influx of new and returning buyers, some of the best deals may be found in emerging neighborhoods. Before the pandemic, many of these inner, mid-city communities and industrial areas had been on trend for gentrification.
Today, emerging neighborhoods not only afford buyers better values but have the potential to create greater equity returns. These are ideal for buyers ready to invest in a property for the longer term, understanding that they are buying early and will need to wait for the neighborhood to evolve and mature.
As we enter the latter part of 2022, mainly due to the historic rise in property values over the last 24 months, many affluent are now starting to reprioritize with a keen eye on market stability and potential returns.
New Priorities
The art of selling and buying in this market needs a critical and analytical approach; understanding the realities and setting expectations accordingly will ensure that goals are achieved. For homeowners looking to buy or sell in today’s market, we recommend working with a Realtor who can capitalize on the preferences, trends, and demands in this dynamic and evolving environment.
Vacation and second home properties are expected to continue to increase in popularity, especially for those who need escape options from their primary property. The affluent are continuing to seek diversity in their lifestyle, and owning multiple properties, whether in the city, mountains, or beach locations, is an important facet in meeting that requirement.
The answer may lie in reviewing the sales data for the last six months, which reveals that luxury mid-sized homes ranging from 3,000 to 3,500 sq ft are proving to be in the greatest demand for single family homes and 1,500 to 2,000 sq ft for attached properties.
Which trends will see better investment return; larger estate-sized homes, properties with views, those located on expansive land, or smaller homes closer to amenities, are questions being asked of our luxury real estate professionals.
Now that remote working is mainstream, there is still an increased focus on investing in real estate that aligns with people’s lifestyle choices.
Time to Diversify
While people want extra space, they do not want to be overwhelmed with larger debt, especially as interest rates continue to rise. Equally, land and privacy are still important, but as things return to normal, the shift back to living closer to amenities and locations closer to work are becoming the main priority once more.
– 13 - MONTH MARKET TRENDS –Single-Family Homes Attached Homes Single-Family List Price Attached List Price PRICELISTVS.PRICESALESMARKETONDAYS All data is based off median values. Median prices represent properties priced above respective city benchmark prices. FOR THE LUXURY NORTH AMERICAN MARKET 11 13 14 15 15 17 18 13 9 7 7 9 12 16 16 15 12 15 16 18 11 8 8 9 9 13 0 2 4 6 8 10 12 14 16 18 20 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL FOOTSQUAREPERPRICE $492 $486 $504 $501 $498 $535 $516 $526 $543 $526 $540 $550 $538 $376 $392 $397 $400 $396 $415 $410 $420 $421 $443 $438 $431 $430 $0 $100 $200 $300 $400 $500 $600 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL $500,000 $700,000 $900,000 $1,100,000 $1,300,000 $1,500,000 $1,700,000 $1,900,000 $2,100,000 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL Discrepancies in previous month statistics between the August 2022 and September 2022 reports are due to the addition of Whistler, BC.
Median SP/LP Ratio 100.00% 99.17%
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• Markets with the Highest Sales Ratio: Cleveland Suburbs (131%), Hamilton County (95%), St. Louis (91%) and Howard County (79%).
SINGLE-FAMILY HOMES
SINGLE-FAMILY HOMES MARKET SUMMARY | AUGUST 2022
Median List Price $1,680,750 $1,595,000
Median Price per Sq. Ft. $392 $418
Total Inventory 33,805 51,674
Total Sold 18,947 18,001
• Homes are selling for an average of 99.17% of list price
• Markets with the Highest Median Sales Price: Aspen ($11,500,000), Whistler ($5,550,000), Vail ($4,550,000), and Naples ($4,200,000).
Median Sale Price $1,360,697 $1,299,000
Median Days on Market 13 18
August 2022August 2021 August 2022August 2021 New Listings Total Sold Days on Market Sales RatioMed. Sale Price 4,913 946 $61,697 5 21.21%
Average Home Size 3,528 3,185 city benchmark prices.
• The median luxury threshold2 price is $925,000, and the median luxury home sales price is $1,299,000.
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Total Sales Ratio 56.05% 34.84%
1Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
A Review of Key Market Differences Year over Year August 2021 | August 2022 Median prices represent properties priced above respective
• Official Market Type: Seller's Market with a 34.84% Sales Ratio.
New Listings 11,760 16,673
– LUXURY MONTHLY MARKET REVIEW –
Median SP/LP Ratio 100.00% 98.92%
Total Sales Ratio 41.52% 30.34%
Average Home Size 1,960 1,843
– LUXURY MONTHLY MARKET REVIEW –
Days on Market 2 $46,250 A Review of Key Market Differences Year over Year August 2021 | August 2022 August 2022August 2021 August 2022August 2021
Median Sale Price $830,000 $876,250
Median prices represent properties priced above respective city benchmark prices.
ATTACHED HOMES New Listings Total Sold Sales RatioMed. Sale Price 704 675 11.18% ATTACHED HOMES MARKET SUMMARY | AUGUST 20 22 • Official Market Type: Seller's Market with a 30.34% Sales Ratio.1 • Attached homes are selling for an average of 98.92% of list price. • The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $876,250 • Markets with the Highest Median Sales Price: Aspen ($4,125,000), Vail ($3,250,000), Whistler ($2,342,500), and San Francisco ($2,275,000). • Markets with the Highest Sales Ratio: Santa Barbara (127%), Howard County (122%), Anne Arundel County (91%) and Sussex County Coastal (84%). 1Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
Median List Price $998,585 $942,225
Median Price per Sq. Ft. $489 $527
New Listings 4,137 4,841
Total Sold 5,124 4,449
Total Inventory 12,341 14,665
Median Days on Market 16 18
CA Los Angeles City $4,999,000 $3,500,000 646 187 119 18 Balanced
BC Whistler $4,500,000 $5,550,000 55 10 4 41 Buyer's
CA Silicon Valley $3,798,000 $3,287,500 486 224 268 15 Seller's
State Market Name
CO Boulder $2,295,000 $1,600,000 201 74 81 49 Seller's
BC Mid Vancouver Island $1,650,000 $1,465,000 231 86 24 22 Buyer's BC Okanagan Valley $1,790,000 $1,530,000 917 276 65 47 Buyer's
CA Placer County $1,195,000 $1,149,000 256 95 101 21 Seller's
AZ Chandler and Gilbert $1,075,000 $1,000,000 265 89 72 41 Seller's
AZ Flagstaff $1,462,250 $1,272,500 84 24 24 50 Seller's
CA Marin County $4,122,500 $2,900,000 118 25 47 17 Seller's CA Napa County $4,309,000 $2,300,000 52 7 22 26 Seller's
CA Los Angeles The Valley $2,495,000 $2,025,500 468 187 190 20 Seller's
CA Orange County $2,689,000 $2,274,000 1012 335 383 15 Seller's
CA Sonoma County $2,274,500 $1,750,000 214 35 65 36 Seller's
AZ Phoenix $849,900 $787,000 873 286 272 41 Seller's
CO Aspen $14,900,000 $11,500,000 105 13 7 76 Buyer's
AZ Tucson $718,000 $655,000 723 237 261 15 Seller's
CO Colorado Springs $935,000 $844,500 471 146 146 13 Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
CA Ventura County $1,992,500 $1,775,000 262 82 103 28 Seller's
SINGLE-FAMILY HOMES
CA San Diego $2,215,000 $1,868,500 933 366 354 15 Seller's
AB Calgary
CA Greater Palm Springs $1,849,000 $1,599,000 213 67 78 33 Seller's
AZ Mesa $847,000 $835,000 216 87 69 33 Seller's
CA Central Coast $2,850,000 $2,150,000 240 82 71 20 Seller's
AZ Scottsdale $1,850,000 $1,755,000 630 185 153 48 Seller's
BC Victoria $2,499,000 $1,950,000 139 55 23 17 Balanced
CA Lake Tahoe
$2,250,000 $1,885,000 218 51 40 20 Balanced
CA San Luis Obispo County $1,875,000 $1,447,500 183 61 74 40 Seller's
– LUXURY MONTHLY MARKET REVIEW –
AZ Paradise Valley $4,995,000 $3,025,000 110 27 21 74 Balanced
$1,099,999 $930,000 537 238 147 23 Seller's
CA Santa Barbara $5,750,000 $3,500,000 123 48 57 11 Seller's
BC Vancouver $4,500,000 $3,259,000 1144 272 66 25 Buyer's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
CA San Francisco $4,495,000 $3,425,000 119 42 55 17 Seller's
CA Los Angeles Beach Cities $5,899,000 $3,915,000 297 88 71 12 Seller's
CA Sacramento $949,000 $915,000 668 253 339 19 Seller's
CA East Bay $2,198,775 $1,869,500 534 272 412 16 Seller's
TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
TX Dallas
DC Washington D.C. $4,495,000 $2,650,000 46 7 17 8 Seller's
$1,749,000 $1,555,000 211 136 46 14 Seller's ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
SINGLE-FAMILY HOMES
FL Orlando $1,250,000 $1,135,000 678 176 185 13
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
FL Coastal Pinellas County $2,387,500 $2,275,000 90 18 17 35 Balanced
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
$1,545,000 $1,328,000 535 199 276 13
HI Island of Hawaii $1,972,500 112 19 17 26 Balanced
FL Boca Raton/Delray Beach $2,699,500 $2,000,000 442 109 67 23 Balanced
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
CO Summit County 87 20 15 13
HI Kauai $2,850,000 45 9 6 11 Buyer's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
FL Marco Island $2,560,000 $2,162,500 91 15 16 54 Balanced
GA Atlanta $1,475,000 $1,167,500 639 234 250 8
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's
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ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
FL South Pinellas County $1,595,000 $1,497,500 244 71 56 17
CO Douglas County $1,349,950 $1,167,500 264 84 140 16
CO Telluride
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
CT Central Connecticut $699,900 $619,725 375 79 276 7
FL Jacksonville Beaches $1,472,125 $1,150,000 298 91 93 30
IL Chicago $1,498,888 $1,349,000 637 225 379
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
CO Durango $1,250,000 119 22 25 56 Seller's
FL Naples $4,985,000 $4,200,000 232 35 39 29 Balanced
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
ID Northern Idaho $1,600,000 $1,325,000 515 137 58 64 Buyer's
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
FL South Walton $2,340,000 $2,100,000 400 85 59 33 Buyer's
ON GTA - Durham
DE Sussex County Coastal $1,399,950 $1,189,677 163 46 44 5
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
FL Palm Beach Towns $3,087,500 $2,487,500 228 46 26 17 Buyer's
FL Greater Fort Lauderdale $1,055,000 21 Balanced
HI Oahu $3,000,000 $2,200,000 196 51 55 17
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
ID Ada County $779,900 $759,450 985 338 316 14
FL Tampa $750,000 $675,000 1251 463 431 8 Seller's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
LUXURY MONTHLY MARKET REVIEW –
FL Miami $1,950,000 $1,350,000 890 223 118 Buyer's
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
FL Space Coast $850,000 $770,000 339 138 153 12
State Market Name
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
CO Denver
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
$6,500,000 $3,797,500 83 10 6 55 Buyer's
GA Duluth $1,575,000 21 7 8 24
FL Sarasota & Beaches $2,950,000 $2,200,000 251 49 49 35 Balanced
$1,300,000 $1,004,001 450 209 186 11 Seller's
FL Lee County $1,399,900 $1,375,000 546 141 113 24 Balanced
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
IL DuPage County $1,189,000 $955,000 313 99 161 11 Seller's
CO Vail $4,590,000 $4,550,000 83 15 11 31
CT Coastal Connecticut $2,275,000 527 119 254 26
FL Weston $1,275,000 $1,026,100 113 35 37 18
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
HI Maui $3,188,000 $1,947,500 137 32 26 81 Balanced
NJ Ocean County $909,900 $830,000 470 163 153 13
NC Raleigh-Durham $1,067,000 $925,000 512 173 255 4
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
IL Will County $687,450 $625,000 230 101 9
MA Greater Boston $3,224,500 $2,700,000 82 18 26 Seller's
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
MD Anne Arundel County
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
$1,150,000 $919,500 279 96 158 9
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
MN Olmsted County $824,900 $670,000 75 14 27 11
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
$1,749,000 $1,555,000 211 136 46 14 Seller's ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
Livingston County $707,500 121 38 40 16
ON GTA - Durham
KS Johnson County $817,160 $804,000 362 186 3 Seller's
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
NY Nassau County $1,877,500 $1,410,000 736 155 221 21
MD Montgomery County $1,899,228 $1,510,000 166 45 129 7
NC Lake Norman $1,185,000 $948,550 212 70 86 11 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
MD Talbot County $2,422,500 $2,457,500 40 8 2 36 Buyer's
NC Asheville $1,000,000 $872,092 247 84 115 11
NV Las Vegas $1,650,000 790 223 108 26 Buyer's
NY Staten Island $1,250,000 $1,098,000 182 39 27 40 Buyer's
OH Cincinnati $874,950 $750,000 190 40 112 2 Seller's
NY Finger Lakes $2,200,000 $1,290,000 31 12 8
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
SINGLE-FAMILY HOMES
Monroe County $599,999 $615,000 17 5 6 19
State Market Name
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$1,000,000 $935,419 160 60 112 8
MO Kansas City $662,843 1368 296 560 4
IN Hamilton County $849,950 $750,000 140 48 133 5 Seller's
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
MD Frederick County $889,000 $860,000 61 22 27 10 Seller's
$717,000 $621,250 224 92 98 9
MN Twin Cities $1,200,000 $973,390 691 211 276 14
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
NM Taos $992,500 79 18 8 54 Buyer's
Oakland County $725,000 $650,000 908 342 412 13 Washtenaw County $892,500 162 48 6 Seller's Wayne County
MA Cape Cod $2,350,000 $1,837,500 30 38 21
IL Lake County
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
NV Lake Tahoe $3,450,000 $2,565,000 159 23 19 105 Buyer's
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
LUXURY MONTHLY MARKET REVIEW –
NC Charlotte $1,125,000 $907,500 606 207 378 6
MD Howard County $1,149,990 $1,061,000 107 49 85 6
TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's
MA South Shore 64 19 50 22
MO St. Louis 100 44 91 6
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
MD Worcester County $995,000 $902,500 53 13 18 38
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
NV Reno $1,900,000 $1,575,000 36 15 52 Buyer's
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
NY Suffolk County $1,950,000 $1,247,500 911 206 202 24
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
QC Montreal $1,898,000 $1,530,000 97 91 18 61 Balanced
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
$1,749,000 $1,555,000 211 136 46 14 Seller's ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
El Paso $615,000 147 42 45 20
Fort Worth $849,995 $799,000 890 290 435 13
SC Hilton Head $2,095,000 $1,432,500 231 38 48 11 Balanced
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
Austin $1,075,713 $1,021,000 1126 347 307 18
Houston $949,989 $837,000 1071 339 285 10
McLean & Vienna $2,824,950 $1,701,849 136 35 44 13
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
Collin County $750,000 $710,000 1355 620 17
UT Salt Lake City $1,195,000 $992,500 460 186 178 22
State Market Name
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
–
TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's
San Angelo $649,500 $565,000 54 20 17 49
Seattle $1,850,000 $1,718,000 235 125 132 7
Lubbock $619,000 95 50 40 56
LUXURY MONTHLY MARKET REVIEW –
Dallas $1,333,698 $1,095,000 398 136 183 13
TN Nashville $1,650,000 $1,246,500 626 205 210 8
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
Oakville $2,460,000 113 58 26 24 Seller's Toronto $3,798,888 341 147 67 20 Balanced
The Woodlands & Spring $849,450 $765,000 206 104 151 9 Seller's Park City $4,650,000 $2,625,000 198 40 18 22 Buyer's
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
GTA - York $2,499,000 $1,809,000 470 257 182 17 Seller's Hamilton $1,849,000 245 101 31 32 Buyer's Mississauga $2,337,500 108 53 30 22
Greater Tyler $800,000 189 109 57 16
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's
Richmond $799,000 $775,000 304 94 179 6
SINGLE-FAMILY HOMES
ON Waterloo Region $1,299,000 128 74 51 19
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
Cleveland Suburbs
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
VA Smith Mountain Lake $1,637,475 24 6 13
Greater Chattanooga $998,950 $852,500 202 71 58
Fairfax County $2,098,950 $1,449,900 316 90 141 11
TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
Charlottesville $1,300,000 $1,021,500 134 24 44
OR Portland $1,317,995 $1,140,500 595 200 244 9 Seller's
San Antonio $798,412 677 210 187 22
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
King County - Greater Seattle $1,850,000 $1,650,000 1105 480 559 11
$650,000 $679,393 29 6 38 25 Durham $1,810,000 $1,551,750 189 118 56 18
Denton County 1023 324 410 14 Seller's
Arlington & Alexandria $2,299,000 $1,885,000 71 24 26 9
WA Spokane $1,162,500 $1,100,000 130 51 33 33 Seller's
ON GTA - Durham
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
AB Calgary $750,000 $695,000 153 41 25 39 Balanced
ATTACHED HOMES
LUXURY MONTHLY MARKET REVIEW –
AZ Flagstaff
CA Central Coast $1,275,000 $1,025,000 25 10 21 14 Seller's CA East Bay $999,970 $1,072,500 166 90 134 14 Seller's CA Greater Palm Springs
BC Victoria $999,000 $892,500 124 72 42 16 Seller's BC Whistler $2,635,250 $2,342,500 36 9 2 62 Buyer's
CO Aspen $3,674,000 $4,125,000 42 11 5 67 Buyer's
AZ Phoenix
CA Santa Barbara $1,399,000 $1,625,000 11 6 14 26 Seller's CA Silicon Valley $1,699,999 $1,590,000 113 64 71 14 Seller's CA Sonoma County $834,000 $751,785 18 6 7 40 Seller's
–
BC Mid Vancouver Island $848,950 $802,500 62 21 10 39 Balanced
AZ Paradise Valley
BC Okanagan Valley
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
$1,625,000 $880,000 25 6 3 48 Buyer's
AZ Mesa
$1,100,000 $1,043,500 345 163 212 12 Seller's
CA Sacramento
CA Ventura County $750,000 $785,000 113 53 50 16 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.
BC Vancouver $1,988,500 $1,769,000 906 265 80 27 Buyer's
State Market Name
CA Orange County $1,200,000 $1,160,000 368 158 220 15 Seller's CA Placer County
AZ Scottsdale $875,000 $790,000 193 63 47 34 Seller's
CA Lake Tahoe
CA Marin County $1,297,500 $1,150,000 34 9 19 24 Seller's CA Napa County
AZ Chandler and Gilbert
AZ Tucson
CA San Diego
CA San Francisco $2,750,000 $2,275,000 75 16 9 35 Buyer's CA San Luis Obispo County
CA Los Angeles Beach Cities $1,897,000 $1,775,000 156 52 71 18 Seller's CA Los Angeles City $1,699,500 $1,434,000 338 122 86 24 Seller's CA Los Angeles The Valley $789,000 $825,000 153 76 83 17 Seller's
CO Boulder $871,470 $1,127,500 63 28 40 67 Seller's CO Colorado Springs
$1,300,000 $1,004,001 450 209 186 11 Seller's TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
CO Denver $917,500 $720,313 140 43 44 11
ON GTA - Durham
$749,900 $601,410 425 158 178 18
ID Ada County $673,500 $607,500 59 27 14 18
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
FL Coastal Pinellas County $1,396,550 $1,050,000 94 22 25
GA Duluth
IL Chicago $1,275,000 739 219 144 30 Balanced
FL Miami $1,450,000 $1,150,000 1225 218 121 43 Buyer's
IL DuPage County $990,000 $675,000 21 7 11 5 Seller's
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's
HI Kauai $1,592,000 42 9 15 14
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
FL Lee County $849,900 $825,000 215 48 68
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
FL Orlando $565,000 $560,500 204 61 69
FL Space Coast $824,900 $685,000 24 41 13
State Market Name
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
LUXURY MONTHLY MARKET REVIEW –
ID Northern Idaho
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
ATTACHED HOMES
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.
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
FL Marco Island $1,749,000 $1,350,000 37 5 9 25
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
–
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
CT Central Connecticut
CO Vail $3,250,000 51 4 3 9
CO Durango $793,905 $910,000 18 2 15 51 Seller's
DE Sussex County Coastal $975,000 $779,316 19 9 16 7
FL South Walton $1,550,000 $1,150,000 225 43 27 24 Buyer's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
FL Boca Raton/Delray Beach $865,125 280 100 57 18 Balanced
CO Douglas County $549,990 $587,450 25 7 13 14
FL South Pinellas County $1,122,800 $900,000 175 47 48 12
FL Naples $2,345,000 $1,800,000 129 30 35 26
FL Weston
GA Atlanta
$1,749,000 $1,555,000 211 136 46 14 Seller's
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
HI Maui $2,125,000 $1,672,500 76 19 28 97
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
CO Summit County $1,524,000 $1,378,500 30 10 8 9 Seller's CO Telluride
FL Palm Beach Towns $1,975,000 $1,525,500 181 32 32 25 Balanced
$1,530,000 $1,483,750 47 7 16 8
FL Greater Fort Lauderdale $849,450 $735,000 860 220 167 27 Balanced
HI Oahu $1,175,000 $905,000 383 87 85 18
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
FL Sarasota & Beaches $1,692,500 $1,375,000 126 24 17 Balanced
OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
HI Island of Hawaii
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
FL Jacksonville Beaches $995,000 $930,000 38 14 14 22
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
CT Coastal Connecticut $1,495,000 $853,000 154 18 52 24
FL Tampa $774,500 $667,000 187 68 51 9 Seller's
TX Dallas
DC Washington D.C. $1,457,500 159 43 62 11 Seller's
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
MO Kansas City
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
$600,000 $599,990 27 20 33 7
MA South Shore $837,450 $825,000 16 7 13 20
–
MN Twin Cities
NC Charlotte $650,000 $618,898 170 35 96 15
NV Reno
IL Lake County
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
IN Hamilton County
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
NC Lake Norman $598,711 $625,000 23 7 13 18 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
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.
NV Lake Tahoe $1,294,500 $1,225,500 32 4 8 70
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
MO St. Louis
OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's
IL Will County
NM Taos
MD Worcester County $681,750 44 14 23 24 Livingston County Monroe County
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
State Market Name
MD Howard County
NY Finger Lakes
NJ Ocean County $882,500 $820,000 48 19 17 17
KS Johnson County $611,663 $595,509 110 29 25 3 Seller's
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's TX Houston $979,000 $880,000 1149 439 333 9 Seller's
NY Nassau County $1,561,944 $1,202,500 80 15 32 29
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
OH Cincinnati $674,900 $720,000 17 1 10 61 Seller's
$1,749,000 $1,555,000 211 136 46 14 Seller's
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
NV Las Vegas
MD Montgomery County $788,700 $766,000 100 12
NY Suffolk County $769,000 165 47 56 28
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
MD Anne Arundel County $577,000 $576,000 55 30 50
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's
MA Greater Boston $2,482,500 $1,997,500 256 50 78 21 Seller's
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
Oakland County $692,000 $615,000 72 22 17 16 Washtenaw County $627,450 $599,000 54 15 18 27 Seller's Wayne County $649,900 $550,510 92 21 9 7 Buyer's MN Olmsted County
NC Asheville $577,500 25 6 15 24
LUXURY MONTHLY MARKET REVIEW –
MD Talbot County
ATTACHED HOMES
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
NY Staten Island $615,000 $630,000 96 35 37 26
ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
NC Raleigh-Durham
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
MD Frederick County
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
MA Cape Cod $797,500 $910,000 22 1 9 22
ON GTA - Durham
LUXURY MONTHLY MARKET REVIEW –
Austin $750,000 243 83 53 15 Collin County
TN Greater Chattanooga $965,000 $824,000 180 49 43 4 Seller's TN Nashville $1,699,900 $1,355,500 653 246 220 4 Seller's TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
$624,000 $586,570 135 19 Balanced
UT Salt Lake City $596,950 $555,000 170 68 73 25
Charlottesville $759,900 $666,013 31 13 10 29
Fairfax County $775,000 $690,000 213 101 139 15 McLean & Vienna $1,112,475 $1,025,000 32 8 16 22 Richmond
ON GTA - Durham
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
Arlington & Alexandria $955,000 $992,500 88 40 68 12
VA Smith Mountain Lake
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
Durham $829,450 $825,000 28 15 11 11
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
GTA - York $789,000 $760,444 261 164 88 18 Seller's Hamilton $929,450 $872,500 18 16 8 19 Seller's Mississauga $969,000 $917,500 129 77 32 21 Oakville $1,239,000 27 15 6 22 Seller's Toronto $1,150,000 674 374 170
OR Portland $1,350,000 $1,075,000 615 248 283 6 Seller's QC Montreal $1,999,000 $1,600,000 363 87 16 39 Buyer's SC Hilton Head $2,095,000 $1,349,000 243 58 55 12 Seller's
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
OR Portland $742,450 $589,000 204 69 76 18 Seller's
SanSanLubbockAngeloAntonio
King County - Greater Seattle $1,124,000 $1,000,000 253 91 100 8
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.
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
$745,000 $623,250 33 7 4 199 Buyer's The Woodlands & Spring Park City $1,895,000 $2,077,500 99 28 26 13
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
QC Montreal $1,501,291 90 83 11 55 Buyer's
ATTACHED HOMES
–
$1,749,000 $1,555,000 211 136 46 14 Seller's
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
WA Spokane
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's TX Houston $979,000 $880,000 1149 439 333 9 Seller's
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's
ON Waterloo Region $847,400 $750,000 23 20 11 25
Dallas $744,950 $630,000 114 41 50 11 Denton County El HoustonGreaterFortPasoWorthTyler
TN Nashville $739,000 117 39 60 6
Seattle $1,495,000 $1,235,000 121 31 22 7 Balanced
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
State Market Name
ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
Cleveland Suburbs
ON Oakville $2,514,900 $2,400,000 132 82 33 17 Seller's ON Toronto $3,799,444 $3,100,000 420 178 54 20 Buyer's
SC Hilton Head $1,045,000 $1,000,000 40 7 11 5 Greater Chattanooga
CHICAGOILLINOIS
2022 SEPTEMBER
$4,300,000 - $5,299,999
$2,300,000 - $2,899,999
$1,900,000 - $2,299,999
$1,700,000 - $1,899,999
$900,000$1,099,999-$999,999$850,000-$899,999 Inventory
13 11 20 25 24 60 53 41 61 79 58 57 30 51 54 4 2 5 6 8 22 21 36 37 65 33 41 23 41 35
$1,500,000 - $1,699,999
$3,500,000 - $4,299,999
$6,500,000+
$1,000,000Sales
$2,900,000 - $3,499,999
$1,100,000 - $1,199,999
Square-Range-Feet3 -MedianPriceSold- -MedianBedsSold- -MedianBathsSold- -Total-Sold Inventory-Total- Sales -Sold/Inventory-Ratio 0 - 2,999 $998,000 3 4 47 49 96% 3,000 - 3,999 $1,147,500 4 4 94 158 59% 4,000 - 4,999 $1,399,500 4 5 86 134 64% 5,000 - 5,999 $1,812,500 5 6 34 89 38% 6,000 - 6,999 $2,218,500 5 6 22 48 46% 7,000+ $3,522,500 6 7 22 103 21% CHICAGO SINGLE FAMILY HOMES LUXURY INVENTORY VS. SALES | AUGUST 2022 Luxury Benchmark Price 1: $850,000 Seller's Market637Total Inventory: 379Total Sales: 59%Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
$5,300,000 - $6,499,999
$1,300,000 - $1,499,999
$1,200,000 - $1,299,999
MEDIAN DATA REVIEW | AUGUST 13 - MONTH LUXURY MARKET TREND 4 SoldsMedian Sales Price Inventory 781 729 622 501 372 341 358 397 524 587 739 716 637 422 278 265 253 295 189 178 305 400 421 522 346 379 $1,245,000 $1,254,000 $1,200,000 $1,250,000 $1,300,000 $1,310,000 $1,235,764 $1,280,000 $1,265,000 $1,260,000 $1,278,500 $1,210,423 $1,349,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties. • The Chicago single-family luxury market is a Seller's Market with a 59% Sales Ratio. • Homes sold for a median of 100.00% of list price in August 2022. • The most active price band is $1,700,000-$1,899,999, where the sales ratio is 88% • The median luxury sales price for single-family homes is $1,349,000. • The median days on market for August 2022 was 9 days, down from 18 in August 2021. CHICAGO SINGLE FAMILY HOMES CHICAGO MARKET SUMMARY | AUGUST 2022 VARIANCE: 18 % 781 637 Aug. 2021 Aug. 2022 TOTAL INVENTORY VARIANCE: 10 % 422 379 TOTAL SOLDS VARIANCE: 8 % $1.25m $1.35m SALES PRICE VARIANCE: 50 % 18 9 DAYS ON MARKET VARIANCE: 2 % 98.42% 100.00% SALE TO LIST PRICE RATIO VARIANCE: 6 % $323 $343 SALE PRICE PER SQFT. Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022
$1,100,000 - $1,199,999
$3,500,000+
$3,000,000 - $3,499,999
$2,000,000 - $2,499,999
$1,300,000 - $1,399,999
69 21 48 53 106 25 33 41 44 54 45 33 61 35 71 3 0 2 5 8 2 10 7 6 13 11 12 19 16 30
$1,500,000 - $1,999,999
$1,200,000 - $1,299,999
$1,400,000 - $1,499,999
$2,500,000 - $2,999,999
$1,000,000 -
$750,000$800,000$850,000$900,000$950,000$1,099,999-$999,999-$949,999-$899,999-$849,999-$799,999 Inventory Sales CHICAGO ATTACHED HOMES Square-Range-Feet3 -MedianPriceSold- -MedianBedsSold- -MedianBathsSold- -Total-Sold Inventory-Total- Sales -Sold/Inventory-Ratio 0 - 1,999 $874,375 3 2 29 136 21% 2,000 - 2,499 $925,000 3 3 39 157 25% 2,500 - 2,999 $895,000 3 3 16 107 15% 3,000 - 3,499 $1,150,000 3 4 11 97 11% 3,500 - 3,999 $1,400,000 3 4 7 58 12% 4,000+ $1,475,000 3 4 4 97 4% LUXURY INVENTORY VS. SALES | AUGUST 2022 Luxury Benchmark Price 1: $750,000 Balanced Market739Total Inventory: 144Total Sales: 19%Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
739 843 748 674 490 546 583 640 506 629 843 803 739 187 176 179 164 162 120 147 212 270 228 292 177 144 $915,000 $950,000 $1,000,866 $971,250 $945,000 $971,250 $950,000 $932,500 $933,500 $927,500 $950,000 $930,000 $925,000 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 SoldsSale Price Inventory 3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties. 13 - MONTH LUXURY MARKET TREND 4 VARIANCE: 0 % 739 739 VARIANCE: 23 % 187 144 VARIANCE: 1 % $915k $925k SALES PRICE VARIANCE: 32 % 44 30 DAYS ON MARKET VARIANCE: 0 % 98.14% 98.62% SALE TO LIST PRICE RATIO VARIANCE: 0 % $435 $433 SALE PRICE PER CHICAGOSQFT. MARKET SUMMARY | AUGUST 2022 CHICAGO ATTACHED HOMES • The Chicago attached luxury market is a Balanced Market with a 19% Sales Ratio. • Homes sold for a median of 98.62% of list price in August 2022. • The most active price band is $800,000-$849,999, where the sales ratio is 46% • The median luxury sales price for attached homes is $925,000. • The median days on market for August 2022 was 30 days, down from 44 in August 2021. Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 MEDIAN DATA REVIEW | AUGUST TOTAL INVENTORY TOTAL SOLDS
- Patrick Ryan
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 773.383.7689 | patrick@genuinere.com
