PEARRELLRICHARDLUXURYMARKETREPORTWASHINGTON,DCSEPTEMBER2022
Richard spent much of his career in Relationship Banking, retirement counseling, investments, and insurance advising to high net worth clients. He is committed to applying his holistic approach and high level of consultation, attention to detail, and investment strategy to his clients in the real estate market.
Richard, a native of Virginia and lifelong resident of the DMV, joins eXp with an inherent passion for real estate. After many years of buying, selling, renting, and investing in the real estate arena for himself, Richard is excited to share his passion for real estate with others by helping them achieve their home buying dreams.
Richard resides in the District of Columbia with his husband, Charles, and their Labradoodle, Lucy. He enjoys traveling, spending time with friends and family, real estate investing, and tinkering with home automation in his spare time.
RICHARD PEARRELL
GRI, REALTOR® in DC, MD, VA & FL 301.991.7061
www.HOMESbyRP.comRichard@HOMESbyRP.com
Richard prioritizes getting to know his clients and building solid relationships in order to understand their needs, wants, and emotions when it comes to the love of a home. He strives to motivate and pay attention to others’ point of view and never push or pressure a prospective client. To be there every step of the way to answer questions and provide detailed information so that his clients are comfortable and knowledgeable throughout the entire process!
24-25 ATTACHED HOMES - Monthly Statistics PAGE 26 THANK YOU
11 SINGLE-FAMILY HOMES MONTHLY OVERVIEW
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4 LUXURY REPORT EXPLAINED PAGE 5 WELCOME MESSAGE
12 ATTACHED HOMES MONTHLY OVERVIEW
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TABLE OF CONTENTS
13-16 MONTHLY STATISTICS BY CITY - Single-Family Homes
22-23 SINGLE-FAMILY HOMES - Monthly Statistics
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10 13-MONTH MARKET TRENDS
6-9 NORTH AMERICAN LUXURY MARKET REVIEW
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17-20 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 21 LOCAL LUXURY MARKET REVIEW
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.
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.
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.
LUXURY REPORT EXPLAINED
SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
NEW LISTINGS: The number of homes that entered the market during the current month.
REMAINING INVENTORY: The total number of homes available at the close of a month.
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REPORT GLOSSARY
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.
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.
DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.
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.
LUXURY MARKET REPORT
MAP OF LUXURY RESIDENTIAL MARKETS
THIS IS YOUR
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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.
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 © 2022 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000
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.
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.
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
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.
Market Changes to Consider
As we move into the fall season, we review both new opportunities and trends that homeowners and investors should consider during their property search.
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.
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.”
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.
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.
Emerging City Neighborhoods
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.
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.
Return to Urban Living
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.
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.
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.
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.
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 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.
New Priorities
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.
Time to Diversify
– 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.
• 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 List Price $1,680,750 $1,595,000
– LUXURY MONTHLY MARKET REVIEW –
Total Inventory 33,805 51,674
SINGLE-FAMILY HOMES MARKET SUMMARY | AUGUST 2022
• Official Market Type: Seller's Market with a 34.84% Sales Ratio.
Total Sold 18,947 18,001
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Median SP/LP Ratio 100.00% 99.17%
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%
• Homes are selling for an average of 99.17% of list price
• Markets with the Highest Sales Ratio: Cleveland Suburbs (131%), Hamilton County (95%), St. Louis (91%) and Howard County (79%).
Average Home Size 3,528 3,185 city benchmark prices.
Median Days on Market 13 18
A Review of Key Market Differences Year over Year August 2021 | August 2022 Median prices represent properties priced above respective
• The median luxury threshold2 price is $925,000, and the median luxury home sales price is $1,299,000.
Median Sale Price $1,360,697 $1,299,000
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 Price per Sq. Ft. $392 $418
New Listings 11,760 16,673
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SINGLE-FAMILY HOMES
Total Sales Ratio 56.05% 34.84%
Median Price per Sq. Ft. $489 $527
Median Days on Market 16 18
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
Total Sold 5,124 4,449
Average Home Size 1,960 1,843
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.
Total Inventory 12,341 14,665
– LUXURY MONTHLY MARKET REVIEW –
Total Sales Ratio 41.52% 30.34%
Median List Price $998,585 $942,225
Median prices represent properties priced above respective city benchmark prices.
Median Sale Price $830,000 $876,250
Median SP/LP Ratio 100.00% 98.92%
New Listings 4,137 4,841
CO Colorado Springs $935,000 $844,500 471 146 146 13 Seller's
State Market Name
AB Calgary
AZ Phoenix $849,900 $787,000 873 286 272 41 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
AZ Paradise Valley $4,995,000 $3,025,000 110 27 21 74 Balanced
CA Placer County $1,195,000 $1,149,000 256 95 101 21 Seller's
BC Vancouver $4,500,000 $3,259,000 1144 272 66 25 Buyer's
CA Los Angeles City $4,999,000 $3,500,000 646 187 119 18 Balanced
$2,250,000 $1,885,000 218 51 40 20 Balanced
CA San Diego $2,215,000 $1,868,500 933 366 354 15 Seller's
$1,099,999 $930,000 537 238 147 23 Seller's
AZ Chandler and Gilbert $1,075,000 $1,000,000 265 89 72 41 Seller's
SINGLE-FAMILY HOMES
CA Central Coast $2,850,000 $2,150,000 240 82 71 20 Seller's
CA Silicon Valley $3,798,000 $3,287,500 486 224 268 15 Seller's
CO Boulder $2,295,000 $1,600,000 201 74 81 49 Seller's
CA Santa Barbara $5,750,000 $3,500,000 123 48 57 11 Seller's
BC Whistler $4,500,000 $5,550,000 55 10 4 41 Buyer's
AZ Tucson $718,000 $655,000 723 237 261 15 Seller's
CA Greater Palm Springs $1,849,000 $1,599,000 213 67 78 33 Seller's
CA Los Angeles Beach Cities $5,899,000 $3,915,000 297 88 71 12 Seller's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
CA San Luis Obispo County $1,875,000 $1,447,500 183 61 74 40 Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
CA Lake Tahoe
BC Victoria $2,499,000 $1,950,000 139 55 23 17 Balanced
AZ Scottsdale $1,850,000 $1,755,000 630 185 153 48 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
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 Sonoma County $2,274,500 $1,750,000 214 35 65 36 Seller's
CA San Francisco $4,495,000 $3,425,000 119 42 55 17 Seller's
CA Ventura County $1,992,500 $1,775,000 262 82 103 28 Seller's
CO Aspen $14,900,000 $11,500,000 105 13 7 76 Buyer's
AZ Mesa $847,000 $835,000 216 87 69 33 Seller's
– LUXURY MONTHLY MARKET REVIEW –
CA Orange County $2,689,000 $2,274,000 1012 335 383 15 Seller's
CA Los Angeles The Valley $2,495,000 $2,025,500 468 187 190 20 Seller's
AZ Flagstaff $1,462,250 $1,272,500 84 24 24 50 Seller's
GA Atlanta $1,475,000 $1,167,500 639 234 250 8
$6,500,000 $3,797,500 83 10 6 55 Buyer's
FL Naples $4,985,000 $4,200,000 232 35 39 29 Balanced
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
CT Coastal Connecticut $2,275,000 527 119 254 26
FL Miami $1,950,000 $1,350,000 890 223 118 Buyer's
CO Douglas County $1,349,950 $1,167,500 264 84 140 16
HI Maui $3,188,000 $1,947,500 137 32 26 81 Balanced
FL South Pinellas County $1,595,000 $1,497,500 244 71 56 17
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
ON GTA - Durham
$1,545,000 $1,328,000 535 199 276 13
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
FL Coastal Pinellas County $2,387,500 $2,275,000 90 18 17 35 Balanced
IL DuPage County $1,189,000 $955,000 313 99 161 11 Seller's
FL Weston $1,275,000 $1,026,100 113 35 37 18
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
IL Chicago $1,498,888 $1,349,000 637 225 379
HI Oahu $3,000,000 $2,200,000 196 51 55 17
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
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.
HI Island of Hawaii $1,972,500 112 19 17 26 Balanced
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
CO Durango $1,250,000 119 22 25 56 Seller's
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
FL Sarasota & Beaches $2,950,000 $2,200,000 251 49 49 35 Balanced
ID Northern Idaho $1,600,000 $1,325,000 515 137 58 64 Buyer's
FL Lee County $1,399,900 $1,375,000 546 141 113 24 Balanced
FL Jacksonville Beaches $1,472,125 $1,150,000 298 91 93 30
FL Boca Raton/Delray Beach $2,699,500 $2,000,000 442 109 67 23 Balanced
FL Palm Beach Towns $3,087,500 $2,487,500 228 46 26 17 Buyer's
$1,300,000 $1,004,001 450 209 186 11 Seller's
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
FL Greater Fort Lauderdale $1,055,000 21 Balanced
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
LUXURY MONTHLY MARKET REVIEW –
DC Washington D.C. $4,495,000 $2,650,000 46 7 17 8 Seller's
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
GA Duluth $1,575,000 21 7 8 24
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
FL South Walton $2,340,000 $2,100,000 400 85 59 33 Buyer's
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 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
State Market Name
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
HI Kauai $2,850,000 45 9 6 11 Buyer's
CO Denver
ID Ada County $779,900 $759,450 985 338 316 14
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FL Tampa $750,000 $675,000 1251 463 431 8 Seller's
FL Marco Island $2,560,000 $2,162,500 91 15 16 54 Balanced
TX Dallas
SINGLE-FAMILY HOMES
CT Central Connecticut $699,900 $619,725 375 79 276 7
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
FL Space Coast $850,000 $770,000 339 138 153 12
CO Telluride
CO Vail $4,590,000 $4,550,000 83 15 11 31
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
DE Sussex County Coastal $1,399,950 $1,189,677 163 46 44 5
FL Orlando $1,250,000 $1,135,000 678 176 185 13
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
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
CO Summit County 87 20 15 13
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
NV Lake Tahoe $3,450,000 $2,565,000 159 23 19 105 Buyer's
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
NC Lake Norman $1,185,000 $948,550 212 70 86 11 Seller's
MO Kansas City $662,843 1368 296 560 4
SINGLE-FAMILY HOMES
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
ON GTA - Durham
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
MN Twin Cities $1,200,000 $973,390 691 211 276 14
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
IL Will County $687,450 $625,000 230 101 9
NV Reno $1,900,000 $1,575,000 36 15 52 Buyer's
MN Olmsted County $824,900 $670,000 75 14 27 11
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
IL Lake County
MD Anne Arundel County
$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
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller's
MA Greater Boston $3,224,500 $2,700,000 82 18 26 Seller's
KS Johnson County $817,160 $804,000 362 186 3 Seller's
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
MA Cape Cod $2,350,000 $1,837,500 30 38 21
Livingston County $707,500 121 38 40 16
LUXURY MONTHLY MARKET REVIEW –
MD Talbot County $2,422,500 $2,457,500 40 8 2 36 Buyer's
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
NJ Ocean County $909,900 $830,000 470 163 153 13
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
NV Las Vegas $1,650,000 790 223 108 26 Buyer's
MD Howard County $1,149,990 $1,061,000 107 49 85 6
MD Worcester County $995,000 $902,500 53 13 18 38
NC Raleigh-Durham $1,067,000 $925,000 512 173 255 4
IN Hamilton County $849,950 $750,000 140 48 133 5 Seller's
NY Suffolk County $1,950,000 $1,247,500 911 206 202 24
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
NC Asheville $1,000,000 $872,092 247 84 115 11
MD Montgomery County $1,899,228 $1,510,000 166 45 129 7
NY Finger Lakes $2,200,000 $1,290,000 31 12 8
$1,000,000 $935,419 160 60 112 8
NY Nassau County $1,877,500 $1,410,000 736 155 221 21
MO St. Louis 100 44 91 6
OH Cincinnati $874,950 $750,000 190 40 112 2 Seller's
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
NC Charlotte $1,125,000 $907,500 606 207 378 6
NY Staten Island $1,250,000 $1,098,000 182 39 27 40 Buyer's
MA South Shore 64 19 50 22
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
MD Frederick County $889,000 $860,000 61 22 27 10 Seller's
Monroe County $599,999 $615,000 17 5 6 19
TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
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$717,000 $621,250 224 92 98 9
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
State Market Name
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
TX Dallas $1,300,000 $1,004,001 450 209 186 11 Seller's
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
$1,150,000 $919,500 279 96 158 9
ON Waterloo Region $1,299,000 128 74 51 19
Greater Tyler $800,000 189 109 57 16
TX Denton County $775,786 $750,000 1101 508 425 9 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
Charlottesville $1,300,000 $1,021,500 134 24 44
Dallas $1,333,698 $1,095,000 398 136 183 13
WA Spokane $1,162,500 $1,100,000 130 51 33 33 Seller's
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
$650,000 $679,393 29 6 38 25 Durham $1,810,000 $1,551,750 189 118 56 18
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
Collin County $750,000 $710,000 1355 620 17
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
Lubbock $619,000 95 50 40 56
Oakville $2,460,000 113 58 26 24 Seller's Toronto $3,798,888 341 147 67 20 Balanced
VA Smith Mountain Lake $1,637,475 24 6 13
King County - Greater Seattle $1,850,000 $1,650,000 1105 480 559 11
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
San Antonio $798,412 677 210 187 22
TN Nashville $1,650,000 $1,246,500 626 205 210 8
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer'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
SINGLE-FAMILY HOMES
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
Greater Chattanooga $998,950 $852,500 202 71 58
UT Salt Lake City $1,195,000 $992,500 460 186 178 22
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
LUXURY MONTHLY MARKET REVIEW –
ON GTA - Durham
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
McLean & Vienna $2,824,950 $1,701,849 136 35 44 13
Richmond $799,000 $775,000 304 94 179 6
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
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
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 Seller's
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
QC Montreal $1,898,000 $1,530,000 97 91 18 61 Balanced
$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
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
Cleveland Suburbs
TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
Seattle $1,850,000 $1,718,000 235 125 132 7
Austin $1,075,713 $1,021,000 1126 347 307 18
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
OR Portland $1,317,995 $1,140,500 595 200 244 9 Seller's
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
TX Dallas $1,300,000 $1,004,001 450 209 186 11 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
El Paso $615,000 147 42 45 20
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
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
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
San Angelo $649,500 $565,000 54 20 17 49
Arlington & Alexandria $2,299,000 $1,885,000 71 24 26 9
Fort Worth $849,995 $799,000 890 290 435 13
Fairfax County $2,098,950 $1,449,900 316 90 141 11
Denton County 1023 324 410 14 Seller's
Houston $949,989 $837,000 1071 339 285 10
State Market Name
–
CA Orange County $1,200,000 $1,160,000 368 158 220 15 Seller's CA Placer County
BC Okanagan Valley
AZ Phoenix
State Market Name
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
AZ Flagstaff
CA Marin County $1,297,500 $1,150,000 34 9 19 24 Seller's CA Napa County
CA San Francisco $2,750,000 $2,275,000 75 16 9 35 Buyer's CA San Luis Obispo County
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.
AZ Mesa
–
$1,625,000 $880,000 25 6 3 48 Buyer's
CA Lake Tahoe
BC Vancouver $1,988,500 $1,769,000 906 265 80 27 Buyer's
CO Boulder $871,470 $1,127,500 63 28 40 67 Seller's CO Colorado Springs
AB Calgary $750,000 $695,000 153 41 25 39 Balanced
BC Mid Vancouver Island $848,950 $802,500 62 21 10 39 Balanced
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
CO Aspen $3,674,000 $4,125,000 42 11 5 67 Buyer's
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
CA San Diego
AZ Paradise Valley
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
CA Sacramento
AZ Tucson
CA Ventura County $750,000 $785,000 113 53 50 16 Seller's
$1,100,000 $1,043,500 345 163 212 12 Seller's
AZ Chandler and Gilbert
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
ATTACHED HOMES
AZ Scottsdale $875,000 $790,000 193 63 47 34 Seller's
LUXURY MONTHLY MARKET REVIEW –
HI Island of Hawaii
$1,530,000 $1,483,750 47 7 16 8
FL Coastal Pinellas County $1,396,550 $1,050,000 94 22 25
TX San Angelo $650,000 $594,950 51 27 16 68 Seller's
TX Fort Worth $825,000 $800,000 970 393 465 8 Seller's
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
FL Miami $1,450,000 $1,150,000 1225 218 121 43 Buyer's
$749,900 $601,410 425 158 178 18
HI Oahu $1,175,000 $905,000 383 87 85 18
CO Douglas County $549,990 $587,450 25 7 13 14
FL Marco Island $1,749,000 $1,350,000 37 5 9 25
FL Tampa $774,500 $667,000 187 68 51 9 Seller's
VA Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
FL Weston
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
ATTACHED HOMES
FL South Pinellas County $1,122,800 $900,000 175 47 48 12
FL Lee County $849,900 $825,000 215 48 68
FL Orlando $565,000 $560,500 204 61 69
CT Coastal Connecticut $1,495,000 $853,000 154 18 52 24
GA Atlanta
CO Summit County $1,524,000 $1,378,500 30 10 8 9 Seller's CO Telluride
TX Greater Tyler $737,500 $611,500 148 77 48 9 Seller'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
State Market Name
FL Sarasota & Beaches $1,692,500 $1,375,000 126 24 17 Balanced
DC Washington D.C. $1,457,500 159 43 62 11 Seller's
TX Houston $979,000 $880,000 1149 439 333 9 Seller's
CT Central Connecticut
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
TX Collin County $749,000 $717,786 1445 681 627 11 Seller's
IL DuPage County $990,000 $675,000 21 7 11 5 Seller's
–
TX The Woodlands & Spring $809,000 $741,000 213 119 162 7 Seller's
$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
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.
FL Jacksonville Beaches $995,000 $930,000 38 14 14 22
ID Ada County $673,500 $607,500 59 27 14 18
FL Naples $2,345,000 $1,800,000 129 30 35 26
LUXURY MONTHLY MARKET REVIEW –
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
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
FL Palm Beach Towns $1,975,000 $1,525,500 181 32 32 25 Balanced
CO Denver $917,500 $720,313 140 43 44 11
TX Dallas
IL Chicago $1,275,000 739 219 144 30 Balanced
UT Park City $4,250,000 $3,075,000 202 57 16 7 Buyer's
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
FL South Walton $1,550,000 $1,150,000 225 43 27 24 Buyer's
ON GTA - Durham
GA Duluth
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's
CO Vail $3,250,000 51 4 3 9
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
CO Durango $793,905 $910,000 18 2 15 51 Seller's
ID Northern Idaho
HI Maui $2,125,000 $1,672,500 76 19 28 97
$1,749,000 $1,555,000 211 136 46 14 Seller's
FL Greater Fort Lauderdale $849,450 $735,000 860 220 167 27 Balanced
DE Sussex County Coastal $975,000 $779,316 19 9 16 7
UT Salt Lake City $1,132,096 $979,000 469 210 157 21 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 TX Austin $1,098,222 $995,000 1242 586 354 9 Seller's
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
TX Lubbock $652,500 $599,950 88 34 28 50 Seller's
FL Boca Raton/Delray Beach $865,125 280 100 57 18 Balanced
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
FL Space Coast $824,900 $685,000 24 41 13
HI Kauai $1,592,000 42 9 15 14
NY Staten Island $615,000 $630,000 96 35 37 26
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
ON GTA - Durham
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
NV Reno
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
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
MO Kansas City
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
State Market Name
MA South Shore $837,450 $825,000 16 7 13 20
MD Montgomery County $788,700 $766,000 100 12
MA Cape Cod $797,500 $910,000 22 1 9 22
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
MD Talbot County
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
MD Frederick County
MD Howard County
MO St. Louis
NM Taos
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 Seller's
IL Lake County
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 Seller's
NC Lake Norman $598,711 $625,000 23 7 13 18 Seller's
NY Finger Lakes
$1,749,000 $1,555,000 211 136 46 14 Seller's
NC Asheville $577,500 25 6 15 24
NJ Ocean County $882,500 $820,000 48 19 17 17
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
ATTACHED HOMES
IL Will County
–
ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 Seller's
KS Johnson County $611,663 $595,509 110 29 25 3 Seller's
MD Anne Arundel County $577,000 $576,000 55 30 50
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
NC Raleigh-Durham
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
LUXURY MONTHLY MARKET REVIEW –
IN Hamilton County
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 Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
MD Worcester County $681,750 44 14 23 24 Livingston County Monroe County
NV Lake Tahoe $1,294,500 $1,225,500 32 4 8 70
NY Nassau County $1,561,944 $1,202,500 80 15 32 29
NC Charlotte $650,000 $618,898 170 35 96 15
MN Twin Cities
OH Cincinnati $674,900 $720,000 17 1 10 61 Seller's
WA King County - Greater Seattle $1,970,000 $1,695,000 1014 543 538 6 Seller's
NV Las Vegas
NY Suffolk County $769,000 165 47 56 28
VA McLean & Vienna $2,750,000 $1,850,000 147 31 61 6 Seller's
VA Richmond $799,900 $790,153 291 110 197 6 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
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
TX San Antonio $799,070 $717,515 636 262 191 16 Seller's
MA Greater Boston $2,482,500 $1,997,500 256 50 78 21 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
$600,000 $599,990 27 20 33 7
–
ON GTA - York $2,375,000 $1,880,000 563 327 137 13 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
ListMedianPrice SoldMedianPrice Inventory ListingsNew Sold Days Marketon MarketStatus
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
TN Nashville $739,000 117 39 60 6
SanSanLubbockAngeloAntonio
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
$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
Charlottesville $759,900 $666,013 31 13 10 29
Seattle $1,495,000 $1,235,000 121 31 22 7 Balanced
State Market Name
ON Mississauga $2,950,000 $2,310,000 137 64 26 18 Balanced
WA Spokane
Dallas $744,950 $630,000 114 41 50 11 Denton County El HoustonGreaterFortPasoWorthTyler
VA Fairfax County $1,999,900 $1,500,000 346 113 152 7 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
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
VA Arlington & Alexandria $2,250,000 $1,850,000 77 32 49 6 Seller's
OR Portland $742,450 $589,000 204 69 76 18 Seller's
QC Montreal $1,501,291 90 83 11 55 Buyer's
Fairfax County $775,000 $690,000 213 101 139 15 McLean & Vienna $1,112,475 $1,025,000 32 8 16 22 Richmond
WA Seattle $1,893,217 $1,715,000 254 140 167 6 Seller's
ON Hamilton $1,839,500 $1,510,000 254 121 27 23 Buyer's
VA Richmond $799,900 $790,153 291 110 197 6 Seller's
ON Waterloo Region $1,474,000 $1,300,000 166 103 49 12 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
VA Charlottesville $1,300,000 $1,019,000 144 22 44 6 Seller's
Durham $829,450 $825,000 28 15 11 11
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
ON GTA - Durham
VA Smith Mountain Lake
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
SC Hilton Head $1,045,000 $1,000,000 40 7 11 5 Greater Chattanooga
WA Spokane $1,150,000 $987,500 135 62 46 9 Seller's
ATTACHED HOMES
$624,000 $586,570 135 19 Balanced
UT Salt Lake City $596,950 $555,000 170 68 73 25
Arlington & Alexandria $955,000 $992,500 88 40 68 12
King County - Greater Seattle $1,124,000 $1,000,000 253 91 100 8
TX El Paso $610,800 $583,000 154 53 29 15 Balanced
Austin $750,000 243 83 53 15 Collin County
LUXURY MONTHLY MARKET REVIEW –
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
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 Smith Mountain Lake $1,750,000 $1,325,000 33 9 8 4 Seller's
Cleveland Suburbs
ON Waterloo Region $847,400 $750,000 23 20 11 25
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
$1,749,000 $1,555,000 211 136 46 14 Seller's
WASHINGTOND.C.
2022 SEPTEMBER
$4,400,000 - $5,399,999
$5,400,000 - $6,399,999
$2,900,000 - $3,399,999
$10,400,000+
Square-Range-Feet3 -MedianPriceSold- -MedianBedsSold- -MedianBathsSold- -Total-Sold Inventory-Total- Sales -Sold/Inventory-Ratio 0 - 2,999 $2,035,000 2 4 1 5 20% 3,000 - 4,499 $2,400,000 5 5 9 14 64% 4,500 - 5,999 $2,650,000 5 7 4 7 57% 6,000 - 7,499 $4,500,000 6 8 3 10 30% 7,500 - 8,999 NA NA NA 0 7 0% 9,000+ NA NA NA 0 2 0% WASHINGTON D.C. SINGLE FAMILY HOMES LUXURY INVENTORY VS. SALES | AUGUST 2022 Luxury Benchmark Price 1: $2,000,000 Seller's Market46Total Inventory: 17Total Sales: 37%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.
Inventory Sales
$2,400,000 - $2,899,999
$9,400,000 - $10,399,999
$3,900,000 - $4,399,999
$2,100,000 - $2,199,999
$3,400,000 - $3,899,999
$2,200,000 - $2,299,999
$2,000,000 - $2,099,999
5 1 2 1 2 3 10 1 7 3 3 1 2 2 3 0 0 0 0 1 1 1 1 1 3 4 2 1 1 1
$7,400,000 - $8,399,999
$8,400,000 - $9,399,999
$6,400,000 - $7,399,999
$2,300,000 - $2,399,999
MEDIAN DATA REVIEW | AUGUST 13 - MONTH LUXURY MARKET TREND 4 SoldsMedian Sales Price Inventory 55 56 49 51 34 39 40 47 47 47 55 56 46 16 9 15 29 12 8 13 26 27 27 30 18 17 $2,853,250 $2,176,000 $2,450,000 $2,875,000 $2,487,500 $2,394,000 $2,750,000 $3,047,500 $2,700,000 $2,825,000 $3,435,000 $2,743,750 $2,650,000 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 Washington D.C. single-family luxury market is a Seller's Market with a 37% Sales Ratio. • Homes sold for a median of 100.00% of list price in August 2022. • The most active price band is $2,300,000-$2,399,999, where the sales ratio is 200% • The median luxury sales price for single-family homes is $2,650,000. • The median days on market for August 2022 was 8 days, up from 5 in August 2021. WASHINGTON D.C. SINGLE FAMILY HOMES WASHINGTON D.C. MARKET SUMMARY | AUGUST 2022 VARIANCE: 16 % 55 46 Aug. 2021 Aug. 2022 TOTAL INVENTORY VARIANCE: 6 % 16 17 TOTAL SOLDS VARIANCE: 7 % $2.85m $2.65m SALES PRICE VARIANCE: 60 % 5 8 DAYS ON MARKET VARIANCE: 0 % 100.00% 100.00% SALE TO LIST PRICE RATIO VARIANCE: 9 % $789 $719 SALE PRICE PER SQFT. Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022 Aug. 2021 Aug. 2022
$3,500,000 - $3,999,999
$2,000,000 - $2,249,999
$1,251,000 - $1,399,999
WASHINGTON D.C. ATTACHED HOMES Square-Range-Feet3 -MedianPriceSold- -MedianBedsSold- -MedianBathsSold- -Total-Sold Inventory-Total- Sales -Sold/Inventory-Ratio 0 - 1,999 $1,400,000 3 3 31 67 46% 2,000 - 2,499 $1,507,000 4 4 12 32 38% 2,500 - 2,999 $2,150,000 5 4 7 20 35% 3,000 - 3,499 $2,012,500 5 5 10 13 77% 3,500 - 3,999 NA NA NA 0 12 0% 4,000+ $2,100,000 6 6 2 15 13% LUXURY INVENTORY VS. SALES | AUGUST 2022 Luxury Benchmark Price 1: $1,251,000 Seller's Market159Total Inventory: 62Total Sales: 39%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.
12 4 7 4 9 9 13 15 10 4 6 9 14 9 34 0 0 1 2 3 1 2 2 2 4 2 3 5 14 21
$2,750,000 - $2,999,999
$1,400,000 - $1,499,999
$4,500,000+
$4,000,000 - $4,499,999
$1,700,000 - $1,799,999
$1,900,000 - $1,999,999
$3,000,000 - $3,499,999
$2,500,000 - $2,749,999
$1,800,000 - $1,899,999
$2,250,000 - $2,499,999
$1,600,000 - $1,699,999
Inventory Sales
$1,500,000 - $1,599,999
167 218 216 184 138 126 119 147 139 155 183 166 159 71 55 93 87 80 56 63 102 115 100 99 59 62 $1,513,000 $1,575,000 $1,530,000 $1,649,000 $1,649,000 $1,612,602 $1,512,500 $1,662,500 $1,661,250 $1,652,750 $1,546,100 $1,625,000 $1,457,500 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: 5 % 167 159 VARIANCE: 13 % 71 62 VARIANCE: 4 % $1.51m $1.46m SALES PRICE VARIANCE: 22 % 9 11 DAYS ON MARKET VARIANCE: 0 % 100.00% 100.00% SALE TO LIST PRICE RATIO VARIANCE: 8 % $775 $837 SALE PRICE PER WASHINGTONSQFT. D.C. MARKET SUMMARY | AUGUST 2022 WASHINGTON D.C. ATTACHED HOMES • The Washington D.C. attached luxury market is a Seller's Market with a 39% Sales Ratio. • Homes sold for a median of 100.00% of list price in August 2022. • The most active price band is $1,400,000-$1,499,999, where the sales ratio is 156% • The median luxury sales price for attached homes is $1,457,500. • The median days on market for August 2022 was 11 days, up from 9 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
RICHARD PEARRELL 301.991.7061 | Richard@HOMESbyRP.com | www.HOMESbyRP.com
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- Richard Pearrell
