The Group - Houston Luxury Market Report AUG 2020

THE GROUP

LUXURY MARKET REPORT HOUSTON | AUGUST 2020

TYSON H. CLINE

Global Luxury Property Specialist MBA, ALHS, CHMS, CLHMS, TRLP

936.689.4913

Tyson@ClineLuxury.com www.ClineLuxury.com As Founder of The Group, Tyson leads a real estate team responsible for representing affluent buyers and sellers of distinguished properties throughout San Antonio and Houston. With 11 years industry experience, Tyson believes the home selling experience should be personal, memorable, and flawless.

He is committed to providing world-class service to his clients and guiding them through the complexities of real estate.

Tyson has a genuine passion for real estate and is consistently ranked as a top agent in San Antonio and Houston. His unwillingness to give up is proven with overcoming difficult transactions by thinking creatively. With every transaction, Tyson takes a fully comprehensive approach so he can add value in all areas of real estate. Guiding his clients and helping them achieve their real estate goals is what drives him to be successful after every transaction. Tyson is a knowledgeable expert of the Texas housing market, specializing in San Antonio and Houston.

The Louisiana native resides in San Antonio and has called Texas home since 2004. He is committed to reaching the highest caliber of service using the latest technologies, market research, and efficient business strategies. Growing up with a family who owns a residential and commercial construction company granted Tyson the ability to build his foundation in the real estate industry.

Tyson received his Bachelor of Science in Finance from Southeastern Louisiana University and a Master of Business Administration from LeTourneau University. After attaining his degrees, Tyson started his career as a residential mortgage lender in Houston and was consistently recognized as a top producer.

Following a successful career in lending, Tyson decided to follow two generations of family real estate tradition that began in 1980.

He initially joined Heritage Texas Properties and quickly established himself as one of the agencies leading realtors. After six years in the industry, Tyson founded The Group. A premier luxury real estate team with Coldwell Banker D’Ann Harper Realtor’s Global Luxury in San Antonio. He and his team represent affluent clientele from across the globe with residential real estate transactions in San Antonio and Houston.

He holds impressive designations, such as Accredited Luxury Home Specialist (ALHS), Certified Home Marketing Specialist (CHMS), Certified Luxury Home Marketing Specialist (CLHMS), Certified New Home Specialist (CNHS), Leading RE Relocation Specialist, Residential Construction Certified (RCC), Texas Realtors Leadership Program (TRLP), and VA Certified Agent.

TABLE OF CONTENTS PAGE 4

LUXURY REPORT EXPLAINED

PAGE 5

WELCOME MESSAGE

PAGE 6-10

NORTH AMERICAN LUXURY MARKET REVIEW

PAGE 11

13 MONTH MARKET TRENDS

PAGE 12

SINGLE FAMILY HOMES MONTHLY OVERVIEW

PAGE 13

ATTACHED HOMES MONTHLY OVERVIEW

PAGE 14-17 MONTHLY STATISTICS BY CITY - Single Family Homes PAGE 18-21 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 23

LOCAL LUXURY MARKET REVIEW

PAGE 24-25 SINGLE FAMILY HOMES - Monthly Statistics PAGE 26-27 ATTACHED HOMES - Monthly Statistics PAGE 28

THANK YOU

– LUXURY REPORT EXPLAINED – The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report.

Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes.

It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well.

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

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

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

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

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

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

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

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

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

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

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MAP OF LUXURY RESIDENTIAL MARKETS

W

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

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

Copyright © 2020 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.

“In review, one trend is clear. There is a significant number of homeowners within affluent demographic who are more than ready to change their lifestyles; move away from the metropolis and urban living to embrace what has been traditionally designated as second home communities to enjoy a more ‘country-style’ of living.”

NORTH AMERICAN LUXURY REVIEW The Changing Trends of Second Home Markets This month we are taking a deep dive into 5 second home markets to review the implications of what is being described as a significant change of demand by luxury homeowners.

Moving from the Northeast to Hawaii, we explore how luxury buyers are seeking havens and whether these locations will become more than just their second home locations.

THE HAMPTONS, NY The Hamptons were probably one of the first second home markets to see an immediate market impact from the COVID-19 pandemic. This world-renowned destination has always been a firm favorite of the affluent that traditionally sees an influx from New York during its summer months. However, with New York becoming an epicenter in early April, many of its affluent made an early escape to this recreational paradise.

“The Hamptons had already seen a healthy uptick in real estate sales towards the end of 2019, early 2020, but when COVID-19 hit, all our businesses shut down,” explained Michael Daly of Douglas Elliman Real Estate.

“However, the demand for rental properties became extraordinary as people fled the City.”

Rentals remained in high demand throughout April and May, while pre-COVID-19 deals stalled until realtors, appraisers, banks, and attorneys sorted out their processes. As Daly reveals, even though the sales numbers for the 2nd quarter are distorted due to these postponed closures, the increase in sales has continued to grow exponentially over the last few months.

“Between May and July, the number of sales has been up over 50% compared to last year, currently we have over 800 pending sales, with the majority of these buyers coming from the New York Metro area,” shared Daly. “The average list price to sales price has risen from 90/91% to 95/95%, so I expect 3rd quarter figures to show an even greater impact.”

Not only has luxury real estate been in high demand but service companies, such as pool, propane, boating, gardening and even upholstery, whose seasons usually start in June, have had to begin as early as April 2020.

“The Hamptons has slowly become a 6 month destination – May – November, but I foresee that changing to at least a 9 month season now, as we have seen an increase in demand for placement in our schools and even NY schools moving their campuses out here,” stated Daly.

THE PALM BEACHES, FL “Compared to 2019, we have seen a record number of sales in The Palm Beaches since the start of COVID-19,” says Liz Armstrong, Director of Luxury Sales for The Keyes Family of Companies. “The inventory for luxury properties between $1-3 million is at an all-time low and across all luxury sectors inventory is at least 50% below normal levels.”

Armstrong explains that buyers have been content to take less expensive properties sight-unseen; happy to secure a refuge that offers plenty of space both inside and more importantly outside, and then figure out the changes required at a later date.

“Despite news articles warning of the rising numbers of COVID-19 cases in Florida, we are still seeing high demand for real estate, but interestingly it’s the questions that have really changed,” shared Armstrong.

“Now, how much outdoor space, whether there is a pool, easy access to the beach, and accessibility to exercise outside, have become more important than features of the home itself!”

Armstrong clarifies that their buyers, who are mainly from the Northeast, are anticipating that if they are going to be locked down, that moving to The Palm Beaches will still enable them to get out and enjoy the Florida weather and lifestyle.

The pre-COVID-19 high inventory levels have afforded these buyers to easily move into this second home destination, even into the high-end Palm Beach Island market where $50+ million homes are the norm, but what has significantly changed is the method to provide all real estate services virtually.

“The Keyes Family of Companies is now fully invested in helping our agents go completely virtual in their methods for selling homes,” said Armstrong. “From taking a new listing all the way through to closing, including the implementation of a unique marketing strategy to connect with potential high net worth buyers looking to move to The Palm Beaches.”

COEUR D’ALENE, ID Probably the least recognized of our 5 chosen second home markets, but one that showcases communities that offer space and lifestyle, yet are within an easy drive to major metropolises, are seeing an upsurge in demand.

“Until recently, Coeur d’Alene saw a gradual growth in recognition and popularity, but since COVID-19 started we have seen an exponential rise in the demand for properties in and around the town and the numerous surrounding lakes,” stated Mark Montgomery of John L Scott Real Estate.

This community has two resort destination golf courses that cater to the affluent, as well as an abundance of waterfront and estate properties, which are still comparably affordable against similar luxury home properties

in Seattle, Portland, and throughout California.

However, things have changed considerably in the last few months.

“Coeur d’Alene has become incredibly popular as buyers from Washington, Oregon, and California are moving here to get away from the restrictions of COVID-19, not to mention the traffic and increasing taxes,” stated Montgomery. “I think COVID-19 was just the catalyst that pushed them into making the decision faster.”

Inventory levels have dropped to an all-time low and there is very little development to meet this increased demand, so homes are being sold virtually as waiting to come up and visit prior to making an offering is more often than not, not an option.

“We have been in a seller’s market since 2016, but now the majority of the inventory remaining tends to be properties that need some level of renovation,” explained Montgomery. “Prices have increased, especially for homes that are move-in ready, with great finishes yet offer a blank canvass.”

From retirees to young professionals, especially those earning over six figures, are now more than prepared to move here as health care services are now available locally (previously they had to drive to Spokane) and there are two of the best Charter schools in all of Idaho located here.

LAKE TAHOE, CA “These are unprecedent times,” stated Trinkie Watson of Chase International. “I’ve been working in real estate for over 40 years and never seen such a large surge of demand for property in Lake Tahoe.”

This popular ski resort destination will fast transition into a year-round community suspects Watson, especially while the COVID-19 pandemic remains a prominent influence in decision processes. Due to the accessibility of a local airport for private planes and relative driveability to the major cities of Northern California, the affluent still have the flexibility to travel easily.

“Although homes are selling almost as soon as they are listed, it is actually more important than ever that we provide a comprehensive online showcase of the home; including a plethora of photos, 3D visuals and video walk-throughs, in order to ensure that the home is marketed to its full extent,” explained Watson. “This allows buyers to still make an informed decision before making an offer and coming here to view the property prior to final purchase.”

Watson clarified that although buyers are purchasing online, it is still rare for anyone buying a luxury property not to visit it prior to

finalizing the transaction. Likewise, it’s equally important for her to ensure that purchasers have proof of funds before accepting any offers on a property.

“Properties that have proved to be the most popular are located on at least ¼ acre lots, offering plenty of space and although move-in ready is obviously more desirable, new homeowners are now ready to do renovations,” stated Watson. “An older home on large lot or a smaller property that requires a quick update, or condos as long as they have their own front door, are also proving popular especially if they are close to services.”

HAWAII, HI In contrast to our other 4 second home destinations, Hawaii has seen both longer and tighter restrictions and the islands currently remain under trans-Pacific travel lockdown.

“After the initial COVID-19 pause, the Hawaiian market is, as of mid-August, rebounding surprisingly well, which was unexpected as our 2nd quarter saw a significant pause in real estate transactions,” shared Anton Steenman, President & CEO of Elite Pacific Properties. “Luxury consumer confidence in our market is as strong as ever and when compared to 2019's statistics are on-par for the same period.”

The lockdown has been a blessing and a curse, insomuch that it has kept the number of cases in Hawaii down significantly, which makes it an attractive safe haven but, of course, has also made it harder for potential buyers to view properties. However, due to their remote location, Hawaii is no stranger to using technology and digital techniques to showcase homes for sale and working with buyers from all over the world.

“The most common new consideration for affluent buyers looking to move to Hawaii is whether their family will have what they need to shelter and work from home,” explained Steenman. “Once they realize what the Hawaiian lifestyle and its array of amenities affords them, they are definitely ready to leave their urban settings behind.”

Steenman also clarifies that they are seeing a broad spectrum of requirements from affluent buyers, but concurs that homes that are move-in ready, with space both inside and outside for enjoying personal preferences such as yoga studios, family entertainment areas, swimming pools and large yards, as well as dedicated home offices, are some of the top requirements.

Hawaii’s relaxing of travel restrictions is currently set for September 1st 2020, but increased COVID counts, specifically on O'ahu could stall those plans. Nonetheless, buyer activity remains strong, if the number of enquiries and pent-up demand are any indicators.

In review, one trend is clear. There is a significant number of homeowners within affluent demographic who are more than ready to change their lifestyles; move away from the metropolis and urban living to embrace what has been traditionally designated as second home communities to enjoy a more “countrystyle” of living.

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

Single-Family Homes

Attached Homes

Single-Family List Price

Attached List Price

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

DAYS ON MARKET

80

74

60

56

45

40

53

51

44 42

55

53

49

47

62

63

59

43

45

41

43

38 32

39

40

35

35

30

33

20

0

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

SALES PRICE VS. LIST PRICE

$507 $381

$478 $347

$462 $355

$481 $343

$486 $354

$478 $368

$372

$455

$466 $375

$486

$483 $356

$337

$300

$369

$452

$400

$357

$500

$502

$500

$347

PRICE PER SQUARE FOOT

$600

$200

$100

$0

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

JUN

JUL

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

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

Discrepancies in previous month statistics between the July 2020 and August 2020 reports are due to the addition of Lake Tahoe, CA, Lee County, FL, DuPage County, IL, Lake County, IL, San Antonio, TX, and a reconfiguration of Summit County, CO.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month June 2020 | July 2020

SINGLE-FAMILY HOMES June

Median List Price

July

$1,600,000 $1,662,500

Median Sale Price

June

July

Total Inventory

47,191

45,543

New Listings

14,626

14,178

10,566

14,230

39

35

3,661

3,559

$1,312,000

$1,334,500

Median SP/LP Ratio

96.93%

97.52%

Total Sold

Total Sales Ratio

22.39%

31.25%

Median Days on Market

$347

$381

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





448

3,664

New Listings

Total Sold





5

8.86%

Med. Sale Price

Days on Market

Sales Ratio

22,500

$



SINGLE-FAMILY HOMES MARKET SUMMARY | JULY 2020 •

Official Market Type: Seller's Market with a 31.25% Sales Ratio.1

•

Homes are selling for an average of 97.52% of list price.

•

The median luxury threshold2 price is $940,000, and the median luxury home sales price is $1,334,500.

•

Markets with the Highest Median Sales Price: LA Beach Cities ($3,714,219), San Francisco ($3,382,500), Vail ($3,347,500), and Vancouver ($3,225,000).

•

Markets with the Highest Sales Ratio: East Bay (121%), Sacramento (105%), Seattle (89%) and Placer County (86%).

1

Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month June 2020 | July 2020

ATTACHED HOMES June

Median List Price Median Sale Price

July

$1,050,000 $1,075,000

June

July

18,377

19,271

New Listings

5,831

6,135

2,625

3,562

35

33

2,115

1,980

Total Inventory

$875,000

$843,513

Median SP/LP Ratio

98.50%

98.18%

Total Sold

Total Sales Ratio

14.28%

18.48%

Median Days on Market

$478

$507

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





304

937

New Listings

Total Sold





Med. Sale Price

Days on Market

31,488

$

2



4.2% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | JULY 2020 •

Official Market Type: Balanced Market with an 18.48% Sales Ratio.1

•

Attached homes are selling for an average of 98.18% of list price.

•

The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $843,513.

•

Markets with the Highest Median Sales Price: Vail ($2,765,000), San Francisco ($2,246,500), Maui ($2,120,000), and Island of Hawaii ($2,099,500).

•

Markets with the Highest Sales Ratio: GTA-Durham (137%), Ventura County (91%), East Bay (83%), and Fairfax County (80%).

1

Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES

State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$1,120,000

$965,000

753

54

13

31

Buyer's

AZ

Paradise Valley

$3,300,000

$2,443,000

180

34

33

92

Balanced

AZ

Phoenix

$795,000

$624,900

457

201

379

47

Seller's

AZ

Scottsdale

$1,899,000

$1,359,000

584

121

177

82

Seller's

AZ

Tucson

$775,000

$650,000

505

116

184

38

Seller's

BC

Okanagan Valley

$1,679,000

$1,388,000

535

151

83

73

Balanced

BC

Vancouver

$4,196,500

$3,225,000

926

293

84

19

Buyer's

BC

Victoria

$1,796,000

$1,475,000

450

157

25

23

Buyer's

CA

Central Coast

$3,150,000

$2,350,000

246

71

83

26

Seller's

CA

East Bay

$2,477,000

$1,865,000

268

127

325

11

Seller's

CA

Lake Tahoe

$2,977,500

$2,277,500

194

76

126

62

Seller's

CA

Los Angeles Beach Cities

$4,995,000

$3,714,219

469

153

94

43

Balanced

CA

Los Angeles City

$4,337,500

$2,915,000

1,028

338

161

38

Balanced

CA

Los Angeles The Valley

$2,200,000

$1,806,000

538

238

212

19

Seller's

CA

Marin County

$3,950,000

$3,150,000

121

29

73

23

Seller's

CA

Napa County

$3,250,000

$1,812,500

164

32

30

92

Balanced

CA

Orange County

$2,689,500

$1,956,250

1,212

384

360

36

Seller's

CA

Palm Springs/Palm Desert

$1,795,000

$1,470,000

337

64

83

78

Seller's

CA

Placer County

$999,000

$937,500

166

62

142

29

Seller's

CA

Sacramento

$822,200

$715,440

546

241

574

16

Seller's

CA

San Diego

$2,399,000

$1,599,450

899

348

416

24

Seller's

CA

San Francisco

$3,987,500

$3,382,500

142

33

48

12

Seller's

CA

San Luis Obispo County

$1,650,000

$1,195,000

167

46

5

N/A

Buyer's

CA

Santa Barbara

$3,950,000

$3,100,000

251

67

57

49

Seller's

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

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

State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

CA

Silicon Valley

$3,996,000

$3,190,000

280

135

196

11

Seller's

CA

Ventura County

$2,160,000

$1,502,000

289

104

107

52

Seller's

CO

Boulder

$1,972,500

$1,425,000

232

82

89

53

Seller's

CO

Colorado Springs

$799,000

$689,250

381

126

218

15

Seller's

CO

Denver

$1,014,500

$846,500

1,152

468

824

14

Seller's

CO

Douglas County

$1,292,500

$1,025,000

272

72

122

28

Seller's

CO

Durango

$1,350,000

$1,166,250

115

19

8

143

Buyer's

CO

Summit County

$2,147,500

$1,592,000

46

16

7

53

Balanced

CO

Vail

$5,945,000

$3,347,500

94

17

9

234

Buyer's

CT

Central Connecticut

$649,950

$615,000

432

110

115

30

Seller's

CT

Coastal Connecticut

$1,900,000

$1,450,000

1,248

323

300

58

Seller's

DC

Washington D.C.

$3,200,000

$2,900,000

69

23

21

13

Seller's

FL

Boca Raton/Delray Beach

$2,462,500

$1,850,000

472

93

76

85

Balanced

FL

Coastal Pinellas

$1,850,000

$1,287,500

51

12

22

55

Seller's

FL

Greater Fort Lauderdale

$1,395,000

$875,000

1,300

290

202

67

Balanced

FL

Jacksonville Beaches

$1,299,000

$1,150,000

263

60

75

72

Seller's

FL

Lee County

$1,662,500

$1,400,000

474

65

41

138

Buyer's

FL

Miami

$1,490,000

$950,000

1,137

224

127

133

Buyer's

FL

Naples

$2,399,000

$1,867,500

565

73

96

94

Balanced

FL

Orlando

$1,600,000

$1,376,500

436

77

64

73

Buyer's

FL

Palm Beach Towns

$3,547,500

$2,533,750

294

55

66

123

Seller's

FL

Sarasota & Beaches

$1,770,000

$1,302,000

311

53

78

86

Seller's

FL

Tampa

$839,900

$680,000

609

158

269

33

Seller's

GA

Atlanta

$1,200,000

$996,250

1,128

349

300

31

Seller's

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

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES

State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

HI

Island of Hawaii

$2,629,500

$1,650,000

138

26

21

90

Balanced

HI

Kauai

$2,595,000

$1,367,500

97

18

10

30

Buyer's

HI

Maui

$3,095,000

$1,825,000

173

24

9

140

Buyer's

HI

Oahu

$3,200,000

$3,000,000

234

44

21

66

Buyer's

ID

Northern Idaho

$899,900

$690,000

292

110

140

62

Seller's

IL

Chicago

$1,295,000

$1,051,250

1,625

638

394

65

Seller's

IL

DuPage County

$1,079,000

$872,500

595

184

120

92

Balanced

IL

Lake County

$999,900

$850,000

564

160

103

87

Balanced

IL

Will County

$692,450

$577,000

304

109

94

32

Seller's

IN

Hamilton County

$827,450

$700,000

182

61

138

14

Seller's

MA

Greater Boston

$3,425,000

$2,550,000

158

54

33

31

Balanced

MD

Anne Arundel County

$1,095,000

$932,500

270

71

115

19

Seller's

MD

Montgomery County

$1,850,000

$1,430,000

259

78

109

14

Seller's

MD

Talbot County

$1,995,000

$1,492,500

69

9

24

62

Seller's

MD

Worcester County

$1,137,500

$692,500

48

14

11

109

Seller's

MI

Oakland County

$772,450

$635,000

944

354

298

22

Seller's

MO

St. Louis

$729,900

$640,000

174

51

99

40

Seller's

NC

Charlotte

$994,900

$800,000

757

247

363

20

Seller's

NC

Raleigh-Durham

$739,945

$654,000

844

240

371

4

Seller's

NJ

Ocean County

$889,000

$800,000

401

135

123

77

Seller's

NV

Las Vegas

$759,000

$629,744

1,505

496

465

29

Seller's

NV

Reno

$1,370,000

$1,257,000

101

23

39

73

Seller's

NY

Brooklyn

$1,600,000

$1,334,500

315

86

10

94

Buyer's

NY

Nassau County

$1,699,000

$1,407,500

1,046

307

104

80

Buyer's

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

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES

State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

NY

Staten Island

$1,199,000

$1,100,000

201

62

9

89

Buyer's

NY

Suffolk County

$1,590,000

$999,000

1,283

340

129

109

Buyer's

ON

GTA - Durham

$1,499,999

$1,265,000

245

158

97

20

Seller's

ON

GTA - York

$2,318,000

$1,820,500

715

415

187

20

Seller's

ON

Oakville

$2,499,000

$2,525,000

283

144

21

21

Buyer's

ON

Toronto

$3,498,000

$3,218,000

455

276

127

20

Seller's

TN

Knox County

$797,000

$723,000

156

39

83

18

Seller's

TN

Nashville

$1,399,000

$925,000

252

100

113

11

Seller's

TX

Austin

$1,200,000

$867,500

604

249

378

12

Seller's

TX

Collin County

$742,100

$660,250

584

205

330

29

Seller's

TX

Dallas

$1,039,000

$875,000

735

230

246

25

Seller's

TX

Fort Worth

$890,000

$771,150

697

211

297

30

Seller's

TX

Houston

$837,000

$712,000

2,264

732

471

28

Balanced

TX

San Antonio

$819,000

$710,000

465

112

94

57

Balanced

TX

The Woodlands & Spring

$875,000

$640,000

435

137

141

22

Seller's

UT

Park City

$3,600,000

$2,626,250

206

43

58

58

Seller's

UT

Salt Lake City

$1,249,500

$993,525

236

76

100

50

Seller's

VA

Arlington & Alexandria

$1,842,500

$1,784,000

110

37

39

12

Seller's

VA

Fairfax County

$1,799,800

$1,372,500

475

149

156

20

Seller's

VA

McLean & Vienna

$2,225,000

$1,605,000

222

53

49

32

Seller's

VA

Richmond

$863,000

$750,000

239

63

84

26

Seller's

WA

Greater Seattle

$1,989,000

$1,550,000

588

259

422

8

Seller's

WA

Seattle

$1,748,000

$1,420,000

210

109

186

7

Seller's

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

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

State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$832,450

$725,000

268

25

3

17

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$702,250

$630,000

238

60

54

73

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,849,000

$1,814,000

889

332

71

20

Buyer's

BC

Victoria

$809,000

$760,000

329

101

29

35

Buyer's

CA

Central Coast

$1,175,000

$972,000

31

8

14

14

Seller's

CA

East Bay

$998,475

$949,000

94

52

78

11

Seller's

CA

Lake Tahoe

$1,484,000

$1,464,650

50

15

26

101

Seller's

CA

Los Angeles Beach Cities

$1,749,000

$1,449,500

281

115

68

15

Seller's

CA

Los Angeles City

$1,495,000

$1,223,000

478

183

58

25

Buyer's

CA

Los Angeles The Valley

$740,000

$685,000

133

70

106

21

Seller's

CA

Marin County

$1,475,000

$1,015,000

13

3

10

22

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,098,000

$886,500

413

187

140

24

Seller's

CA

Palm Springs/Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,144,000

$829,574

548

262

226

32

Seller's

CA

San Francisco

$2,799,000

$2,246,500

202

54

40

28

Balanced

CA

San Luis Obispo County

-

-

-

-

-

-

-

CA

Santa Barbara

$1,874,500

$1,500,000

42

11

9

34

Seller's

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

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

State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

$1,487,900

$1,405,000

145

92

94

11

Seller's

CA

Silicon Valley

CA

Ventura County

$764,000

$729,000

47

24

43

46

Seller's

CO

Boulder

$862,450

$798,000

90

32

16

48

Balanced

CO

Colorado Springs

-

-

-

-

-

-

-

CO

Denver

$725,000

$616,250

672

278

314

16

Seller's

CO

Douglas County

$524,499

$550,000

26

10

17

23

Seller's

CO

Durango

$775,000

$698,500

26

5

6

148

Seller's

CO

Summit County

$1,075,000

$980,000

10

2

3

4

Seller's

CO

Vail

$3,425,000

$2,765,000

100

22

6

174

Buyer's

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$775,000

$677,000

251

83

48

79

Balanced

DC

Washington D.C.

$1,895,000

$1,495,000

225

97

65

8

Seller's

FL

Boca Raton/Delray Beach

$1,125,000

$695,000

449

94

41

103

Buyer's

FL

Coastal Pinellas

$1,200,000

$770,000

121

25

36

94

Seller's

FL

Greater Fort Lauderdale

$875,000

$839,000

1,251

198

73

120

Buyer's

FL

Jacksonville Beaches

$1,175,000

$845,000

29

13

12

127

Seller's

FL

Lee County

$829,500

$772,500

322

48

32

66

Buyer's

FL

Miami

$1,049,000

$842,025

2,797

330

66

212

Buyer's

FL

Naples

$2,050,000

$1,875,000

243

39

27

106

Buyer's

FL

Orlando

$649,500

$605,613

70

21

10

18

Buyer's

FL

Palm Beach Towns

$1,562,500

$1,345,000

394

59

33

73

Buyer's

FL

Sarasota & Beaches

$1,349,000

$1,328,750

231

41

26

63

Buyer's

FL

Tampa

$770,000

$707,500

137

43

34

4

Seller's

GA

Atlanta

$684,900

$566,250

621

204

96

31

Balanced

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

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES

State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

HI

Island of Hawaii

$1,775,000

$2,099,500

87

14

8

143

Buyer's

HI

Kauai

$1,395,000

$992,500

80

15

6

57

Buyer's

HI

Maui

$1,747,000

$2,120,000

136

33

15

205

Buyer's

HI

Oahu

$1,296,000

$1,045,000

420

70

22

48

Buyer's

ID

Northern Idaho

-

-

-

-

-

-

-

IL

Chicago

$1,139,000

$908,000

1,192

445

127

73

Buyer's

IL

DuPage County

$755,000

$670,000

49

14

17

206

Seller's

IL

Lake County

-

-

-

-

-

-

-

IL

Will County

-

-

-

-

-

-

-

IN

Hamilton County

-

-

-

-

-

-

-

MA

Greater Boston

$2,359,000

$1,888,750

359

122

56

35

Balanced

MD

Anne Arundel County

$748,888

$566,000

45

12

24

11

Seller's

MD

Montgomery County

$810,000

$662,500

177

74

60

10

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$683,700

$647,500

64

10

26

80

Seller's

MI

Oakland County

$798,000

$630,000

65

22

13

13

Balanced

MO

St. Louis

-

-

-

-

-

-

-

NC

Charlotte

$747,400

$637,000

198

58

39

21

Balanced

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$709,000

$800,000

44

13

5

122

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,270,000

$1,010,500

655

189

42

83

Buyer's

NY

Nassau County

$1,450,000

$1,584,500

146

42

10

129

Buyer's

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

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES

State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

-

-

-

-

-

-

-

NY

Staten Island

NY

Suffolk County

$735,000

$650,000

189

58

21

109

Buyer's

ON

GTA - Durham

$815,990

$725,000

27

25

37

7

Seller's

ON

GTA - York

$859,900

$850,000

373

346

212

12

Seller's

ON

Oakville

$1,524,000

$1,128,000

36

16

6

9

Balanced

ON

Toronto

$1,255,900

$1,145,000

859

675

298

10

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$907,500

$657,500

112

42

22

19

Balanced

TX

Austin

$865,000

$670,000

283

102

50

30

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$775,000

$635,900

263

83

29

55

Buyer's

TX

Fort Worth

-

-

-

-

-

-

-

TX

Houston

$649,900

$595,000

201

64

33

49

Balanced

TX

San Antonio

$650,000

$590,000

61

11

5

67

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$2,250,000

$1,529,000

117

22

17

138

Buyer's

UT

Salt Lake City

$729,000

N/A

89

26

0

N/A

Buyer's

VA

Arlington & Alexandria

$1,199,000

$1,070,000

103

55

63

10

Seller's

VA

Fairfax County

$764,950

$671,000

170

84

136

6

Seller's

VA

McLean & Vienna

$1,255,000

$884,500

35

13

7

12

Balanced

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,199,975

$1,029,000

244

98

89

12

Seller's

WA

Seattle

$1,489,998

$1,170,000

126

44

37

12

Seller's

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

Luxury is in each detail.

Hubert de Givenchy

H O US TO N TEXAS –August 2020–

HOUSTON

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JULY 2020 Inventory

Sales

Luxury Benchmark Price 1: $500,000 $4,000,000+ $3,500,000 - $3,999,999 $3,000,000 - $3,499,999 $2,500,000 - $2,999,999

72

5 23

3 2

$1,500,000 - $1,749,999 $1,250,000 - $1,499,999

Total Sales: 471 59

4

$2,000,000 - $2,499,999 $1,750,000 - $1,999,999

Total Inventory: 2,264 34

Seller's Market

100

9

102

15

177

23

$1,000,000 - $1,249,999

200

43

$750,000 - $999,999 $700,000 - $749,999 $650,000 - $699,999

$600,000 - $649,999 $550,000 - $599,999

438

96

124

34

179

45

183

42

256

66

$500,000 - $549,999

1

Total Sales Ratio2: 21%

96

14

221

70

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,499

$610,000

3

3

115

416

28%

2,500 - 3,499

$695,000

4

4

171

706

24%

3,500 - 4,499

$941,046

4

4

110

524

21%

4,500 - 5,499

$970,000

5

5

48

308

16%

5,500 - 6,499

$2,065,000

5

6

13

138

9%

6,500+

$3,043,000

5

7

14

160

9%

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.

HOUSTON

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$747,450

2,270

$727,500

2,219

346 Jul-19

$687,500

2,125

320

2,072

263

Aug-19

$750,000

Sep-19

$715,000

1,912

259 Oct-19

$777,638

1,752

225 Nov-19

Inventory

$697,500

168

Dec-19

Jan-20

$726,250

2,016

1,805

1,648

332

$730,100

Solds

Feb-20

Mar-20

$652,500

235

2,264

May-20

471

352

207

Apr-20

$712,000

$697,500

2,083

2,068

2,015

322

214

$735,000

Jun-20

Jul-20

MEDIAN DATA INVENTORY June

July

2,083

2,264 VARIANCE: 9 %

SALE PRICE PER SQFT. June

$

July

254

253 VARIANCE: 0 % $

SOLDS June

SALES PRICE July

352

471 VARIANCE: 34 %

SALE TO LIST PRICE RATIO June

July

97.14%

97.22% VARIANCE: 0 %

June

698k

$

July

712k VARIANCE: 2 % $

DAYS ON MARKET June

31

28 VARIANCE: -10 %

HOUSTON MARKET SUMMARY | JULY 2020 • The Houston single-family luxury market is a Seller's Market with a 21% Sales Ratio.

• Homes sold for a median of 97.22% of list price in July 2020.

• The most active price band is $500,000-$549,999, where the sales ratio is 32%.

• The median luxury sales price for single-family homes has increased to $712,000.

• The median days on market for July 2020 was 28 days, down from 31 in June 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

July

HOUSTON

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | JULY 2020 Inventory

Sales

Luxury Benchmark Price 1: $500,000 $1,400,000+ $1,300,000 - $1,399,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999

$1,000,000 - $1,099,999 $950,000 - $999,999 $900,000 - $949,999 $850,000 - $899,999

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

10

0 0 0

Total Inventory: 201 6

0 3

0

Balanced Market Total Sales Ratio2: 16%

7

0

8

0

5

0

11

0 0

2 15

0

$700,000 - $749,999 $650,000 - $699,999

Total Sales: 33

11

4

22

3

$600,000 - $649,999

9

$550,000 - $599,999

34

8

$500,000 - $549,999

1

16

51

9

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,499

$577,500

3

3

7

28

25%

2,500 - 2,999

$585,000

3

4

12

61

20%

3,000 - 3,499

$582,500

3

4

9

54

17%

3,500 - 3,999

$655,000

3

4

4

32

13%

4,000 - 4,499

NA

NA

NA

0

15

0%

4,500+

$680,000

5

5

1

11

9%

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.

HOUSTON

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$661,250

$558,450

215

196

24 Jul-19

Solds

$732,500 $650,000

$590,000

$540,000

367 209

Inventory

$617,500

353

$582,450

14

Aug-19

Sep-19

Oct-19

28

33

Nov-19

Dec-19

16 Jan-20

$595,000

22

35

Feb-20

Mar-20

201

178

157 13

$640,000

356

194

17

$558,250

371

340

324

$668,200 $575,000

16

14 Apr-20

May-20

33

15 Jun-20

Jul-20

MEDIAN DATA INVENTORY June

July

178

SOLDS June

SALES PRICE July

201 VARIANCE: 13 %

33 VARIANCE: 120 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

June

$

July

208

203 VARIANCE: -2 % $

15

June

July

96.80% 97.32% VARIANCE: 1 %

June

640k

$

595k VARIANCE: -7 % $

DAYS ON MARKET June

48

July

49 VARIANCE: 2 %

HOUSTON MARKET SUMMARY | JULY 2020 • The Houston attached luxury market is a Balanced Market with a 16% Sales Ratio.

• Homes sold for a median of 97.32% of list price in July 2020.

• The most active price band is $600,000-$649,999, where the sales ratio is 56%.

• The median luxury sales price for attached homes has decreased to $595,000.

• The median days on market for July 2020 was 49 days, up from 48 in June 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

July

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- Tyson H. Cline The Group

TYSON H. CLINE

936.689.4913 | Tyson@ClineLuxury.com | www.ClineLuxury.com / CLINE LUXURY