Home of the CLHMS TM www.LuxuryHomeMarketing.com LUXURY MARKET REPORT JULY 2023
LUXURY MARKET REPORT
MAP OF LUXURY RESIDENTIAL MARKETS
Welcome 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 © 2023 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 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.
THIS IS YOUR
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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"Until the volume of properties available for sale increases substantially, back to traditional norms recorded pre-Covid, it is unlikely that the luxury market will transition into a true buyer’s market anytime soon."
AMERICAN LUXURY REVIEW
Six M0nth Review of 2023
This month we take stock of the luxury real estate market at the six-month mark and end of the second quarter for 2023. The most significant trend, and one that seems contrary despite the continuous reports of lower sale volumes compared to 2022, is that, for the most part, the North American luxury real estate remains a seller’s market.
June’s statistics show that out of the 150 single-family home markets researched by The Institute, 110 are seller markets, 20 are balanced (neither favorable to sellers nor buyers), and only 20 are favorable to buyers. It is important to note that 13 of the buyer markets are either winter resorts or destinations, i.e., their real estate sales are typically not as strong during the summer months.
The attached market shows an even stronger bias towards sellers; out of the 103 reviewed, 84 are seller markets, 8 are balanced, and 11 are buyer markets.
While the number of sales in June 2023 compared to June 2022 fell approximately 11.5% for singlefamily homes and 14.0% for attached properties, sales have increased by 170% and 119% since January 2023 and by 8% and 1% compared to May 2023 respectively. Interestingly, in 2022 we saw the number of sales in June decline compared to May.
While we do not expect to see a continued increase in the volume of monthly sales during July and August – as these are typically slower months in the real estate calendar – these sales figures do show that the overall luxury market across North America is holding its own, especially when it comes to demand.
Inventory levels continued to climb, albeit slowly; single-family homes increased by 2.22% compared to June 2022, and attached properties rose by 8.56%, which has helped increase the opportunity for sales. However, the continued lack of new inventory each month, falling 19.18% compared to last June for single-family homes and 13.09% for attached properties, is probably the major contributor to luxury markets remaining favorable to sellers.
NORTH
Until the volume of properties available for sale increases substantially, back to traditional norms recorded pre-Covid, it is unlikely that the luxury market will transition into a true buyer’s market anytime soon.
While some luxury properties may have felt some downward pressure on their price – and buyers are able to find more opportunities, especially when negotiating terms such as requesting repairs or closing costs – overall low inventory is the challenge for every luxury market, mainly because fewer sellers are willing to list their homes in this current climate.
Price consistency is also a strong indicator that the luxury market is still favorable to sellers; even though there is much talk about lack of sales, the sold price-to-list price ratio remains close to 100%. In June, single-family homes sold at an average of 99.67%, and attached properties sold at an average of 99.69%.
Looking at demand, sales, and prices during the first half of 2023, the North American market has continued to show a resilience that many would not have predicted at the start of the year. Looking to the immediate future, we can now say, with some confidence, that we are entering a period of more stability and sustainability.
A Global Perspective
A great deal of wealth was created globally over the last three years. Despite the downturn of the global equity markets in early 2022, according to Wealth-X, an Altrata Company, there has been a return to the steady increase of wealth creation since last June.
Although the cost of borrowing has increased globally, one long-term effect of the pandemic is that it has refocused the affluent’s desire to own property, the significant increase of cash sales by the affluent reaffirms their desire to buy luxury real estate.
The consistency of demand also shows a resilience that despite interest rate increases for the affluent who chose to borrow money, they recognize it is a temporary situation that can be actively managed.
A recent report from Mordor Intelligence predicts that the global luxury real estate market will register a CAGR (compound annual growth rate) of more than 2% each year over the next five years. Opportunities abound both in local markets and globally, and the affluent are bullish when deciding on their luxury choices in the long-term. There is a greater expectation for emerging markets to see the benefit as the global market returns.
In a recent report on the Global House Price Index from Knight Frank (tracking 56 countries), while there was a slowdown in the annual price growth during 2022, the first quarter of 2023 saw a 1.5% rise, compared to only a 0.6% increase in last quarter of 2022.
Liam Bailey, global head of research at Knight Frank, stated, “on its own, this reversal doesn’t confirm that global markets are set to improve – rather, it does highlight that tight supply, limited new housing constructions, and strong household formation are acting to underpin prices in many markets.”
The report also showed that 39 out of 56 markets had an annual gain in the first quarter, with eastern and southeastern Europe – Turkey, North Macedonia, and Croatia showing the top gains in their price indexes.
Not only are the wealthy diversifying their portfolio in the U.S. and Canada, as per Wealth-X, where 79% of those with a net wealth of over $5 million own at least two properties, but this trend is on the rise globally too.
A combination of the lockdown, a growing appetite to travel or relocate on a semi-permanent basis is seeing an uptick in the affluent obtaining a second passport or citizenship in 20231, a figure that rises to 16% amongst Asian ultra-high-net-worth individuals.
This is a complex landscape to navigate, as changes can be rapid and very dependent on whether a country has fulfilled its goals. For instance, while Canada has a large incentive to drive new immigrants to its shores, on the other hand, they have introduced a foreign buyer ban for two years (starting January 2023) in the major metropolitan areas. Golden Visa programs were highly attractive for potential buyers in Portugal and Ireland, but recently they were terminated.
However, against all the economic and stock market uncertainty, the affluent are often the first to recognize the opportunity this presents and look to diversify, whether to hedge against inflation or simply spread the risk, so expectations are that the affluent will expand their portfolios across multiple countries in the future.
The Long View
The affluent see real estate as a safe long-term asset, as the equity and crypto markets have become unsteady investments over the last year. Interestingly, the emphasis on purchases has changed in the North America considerably. Before the pandemic, one of the most significant reasons for purchasing was the return on investment; today, the emphasis has moved towards an improved lifestyle and security as being equally important.
Luxury may no longer solely be defined by size or price, but individuals are certainly looking to purchase a premium property that meets their current requirements and will pay the ticket price if it checks the boxes. Requirements of the wealthy are driven by exclusivity and a distinctive set of qualities in their new properties, not to mention a need to diversify their real estate portfolio.
For homeowners looking for their next home, it is still important to recognize that although costs to purchase will be much higher currently, over the long-term real estate offers one of the most consistent ways to see a good return. More importantly, ownership provides security and a haven for their family.
1. https://www.knightfrank.com/wealthreport
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.
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MONTH MARKET TRENDS
DAYS ON MARKET SALES PRICE VS. LIST PRICE
9 12 18 22 22 25 32 35 41 25 17 14 15 10 13 18 21 24 28 29 32 28 23 19 18 17 0 5 10 15 20 25 30 35 40 45 JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN PRICE PER SQUARE FOOT $550 $538 $521 $525 $513 $513 $513 $494 $499 $500 $482 $491 $498 $436 $430 $417 $423 $421 $421 $413 $394 $422 $411 $411 $425 $412 $0 $100 $200 $300 $400 $500 $600 JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN $500,000 $700,000 $900,000 $1,100,000 $1,300,000 $1,500,000 $1,700,000 $1,900,000 JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN
LUXURY MONTHLY MARKET REVIEW –
A Review of Key Market Differences Year over Year
SINGLE-FAMILY HOMES MARKET SUMMARY | JUNE 2023
• Official Market Type: Seller's with a 38.91% Sales Ratio.1
• Homes are selling for an average of 99.67% of list price.
• The median luxury threshold2 price is $925,000, and the median luxury home sales price is $1,347,500.
• Markets with the Highest Median Sales Price: Aspen ($9,500,000), Telluride ($6,532,500), Vail ($5,877,500), and Paradise Valley ($4,275,000).
• Markets with the Highest Sales Ratio: East Bay, CA (146%),
County, IN (116%), St. Louis (102%), and Howard County, MD (93%).
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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. SINGLE-FAMILY HOMES Median List Price $1,597,750 $1,637,500 Median Sale Price $1,360,038 $1,347,500 Median SP/LP Ratio 100.00% 99.67% Total Sales Ratio 44.96% 38.91% Median Price per Sq. Ft. $436 $412 Total Inventory 53,472 54,658 New Listings 25,896 20,947 Total Sold 24,041 21,268 Median Days on Market 9 15 Average Home Size 3,211 3,184
Hamilton
June 2022 | June 2023 Median prices represent properties priced above respective city benchmark prices. June 2023 June 2022 June 2023 June 2022
New Listings 4,949 Total Sold 2,773 Med. Sale Price $12,538 Days on Market 6 Sales Ratio 6.05%
LUXURY MONTHLY MARKET REVIEW –
A Review of Key Market Differences Year over Year
ATTACHED HOMES
937
$42,500
7
8.52%
ATTACHED HOMES MARKET SUMMARY | JUNE 2023
• Official Market Type: Seller's Market with a 33.42% Sales Ratio 1
• Attached homes are selling for an average of 99.69% of list price.
• The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $850,000
• Markets with the Highest Median Sales Price: Vail ($4,208,000), Aspen ($3,850,000), Park City ($2,848,500), and San Francisco ($2,450,000).
• Markets with the Highest Sales Ratio: Howard County, MD (204%), Montgomery County, MD (165%), Fairfax County, VA (129%), and DuPage County, IL (126%).
1Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing. Median List Price $949,900 $998,000 Median Sale Price $892,500 $850,000 Median SP/LP Ratio 100.00% 99.69% Total Sales Ratio 41.94% 33.42% Median Price per Sq. Ft. $550 $498 Total Inventory 15,895 17,141 New Listings 7,479 6,418 Total Sold 6,666 5,729 Median Days on Market 10 17 Average Home Size 1,810 1,859 –
Median prices represent properties priced above respective city benchmark prices.
June 2022 | June 2023 June 2023 June 2022 June 2023 June 2022
New Listings 1,061 Total Sold
Med. Sale Price
Days on Market
Sales Ratio
LUXURY MONTHLY MARKET REVIEW –
SINGLE-FAMILY HOMES
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars. –
State Market Name Median List Price Median Sold Price Inventory New Listings Sold Days on Market Market Status AB Calgary $1,189,500 $965,875 568 461 378 15 Seller's AZ Chandler and Gilbert $1,099,500 $930,000 112 48 85 43 Seller's AZ Flagstaff $1,599,990 $1,595,000 91 28 25 51 Seller's AZ Mesa $870,000 $840,000 154 65 75 31 Seller's AZ Paradise Valley $5,850,000 $4,275,000 117 18 40 66 Seller's AZ Phoenix $899,500 $767,500 647 247 303 39 Seller's AZ Scottsdale $2,330,369 $1,750,000 575 148 236 55 Seller's AZ Tucson $700,000 $660,000 729 237 328 16 Seller's BC Mid Vancouver Island $1,687,500 $1,527,500 220 104 40 33 Balanced BC Okanagan Valley $1,750,000 $1,495,999 1018 400 101 36 Buyer's BC Vancouver $4,298,000 $3,150,000 1143 407 83 11 Buyer's BC Victoria $2,450,000 $1,854,450 178 84 36 20 Balanced BC Whistler $5,695,000 $4,212,000 41 17 4 41 Buyer's CA Central Coast $2,899,200 $2,420,000 245 94 65 11 Seller's CA East Bay $2,450,000 $1,950,000 307 186 447 9 Seller's CA Greater Palm Springs $1,850,000 $1,684,225 367 122 114 38 Seller's CA Lake Tahoe $2,444,000 $2,075,000 202 79 37 14 Balanced CA Los Angeles Beach Cities $6,495,000 $3,635,000 365 114 79 16 Seller's CA Los Angeles City $4,999,000 $3,645,000 660 213 119 21 Balanced CA Los Angeles The Valley $2,795,000 $2,200,000 585 251 209 32 Seller's CA Marin County $3,850,000 $2,970,000 83 16 69 18 Seller's CA Napa County $3,895,000 $1,995,000 149 15 12 43 Buyer's CA Orange County $2,999,999 $2,199,500 885 372 412 16 Seller's CA Placer County $1,193,050 $1,052,500 260 108 120 16 Seller's CA Sacramento $1,025,000 $960,000 598 275 345 12 Seller's CA San Diego $2,600,000 $1,850,000 850 394 377 9 Seller's CA San Francisco $4,947,000 $3,450,000 114 29 54 19 Seller's CA San Luis Obispo County $1,795,000 $1,500,000 168 51 63 23 Seller's CA Santa Barbara - - - - - -CA Silicon Valley $4,500,000 $3,400,000 469 246 340 9 Seller's CA Sonoma County $2,372,500 $1,700,000 276 47 62 27 Seller's CA Ventura County $2,436,500 $1,642,000 240 98 96 45 Seller's CO Aspen $16,725,000 $9,500,000 82 28 5 196 Buyer's CO Boulder $2,250,000 $1,550,000 283 97 87 41 Seller's CO Colorado Springs $939,900 $853,564 459 173 182 7 Seller's CO Denver $1,682,500 $1,375,000 782 342 329 8 Seller's CO Douglas County $1,300,000 $1,228,750 345 154 136 13 Seller's CO Durango $1,555,000 $1,231,250 119 43 34 52 Seller's
LUXURY MONTHLY MARKET REVIEW –SINGLE-FAMILY HOMES
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Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars. State Market Name Median List Price Median Sold Price Inventory New Listings Sold Days on Market Market Status CO Summit County $3,330,000 $2,457,500 75 26 10 6 Buyer's CO Telluride $6,900,000 $6,532,500 97 30 8 331 Buyer's CO Vail $5,249,500 $5,877,500 98 38 8 126 Buyer's CT Central Connecticut $700,000 $600,000 336 112 270 5 Seller's CT Coastal Connecticut $2,395,000 $1,850,000 532 162 247 21 Seller's DC Washington D.C. $3,975,000 $2,400,000 58 17 21 16 Seller's DE Sussex County Coastal $1,425,000 $1,212,500 145 40 53 5 Seller's FL Boca Raton/Delray Beach $2,850,000 $2,025,000 465 120 107 38 Seller's FL Brevard County $850,000 $760,000 325 121 143 9 Seller's FL Broward County $1,790,000 $1,400,000 678 199 130 42 Balanced FL Coastal Pinellas County $2,262,500 $1,762,500 104 34 30 21 Seller's FL Ft. Lauderdale $4,995,000 $3,829,304 173 28 21 151 Buyer's FL Jacksonville Beaches $1,399,900 $1,250,000 359 119 129 27 Seller's FL Lee County $1,399,000 $1,200,000 761 170 127 31 Balanced FL Marco Island $2,500,000 $2,462,000 138 26 20 57 Buyer's FL Miami $2,190,000 $1,425,000 899 222 131 62 Buyer's FL Naples $5,500,000 $3,935,000 393 60 47 47 Buyer's FL Orlando $1,250,000 $1,125,000 782 252 249 13 Seller's FL Palm Beach Towns $3,900,000 $2,250,000 273 43 31 47 Buyer's FL Sarasota & Beaches $2,850,000 $1,757,500 459 107 82 40 Balanced FL South Pinellas County $1,524,500 $1,240,000 288 104 115 18 Seller's FL South Walton $2,462,500 $1,800,000 486 96 59 48 Buyer's FL Tampa $769,000 $715,000 1125 389 532 11 Seller's GA Atlanta $1,650,000 $1,210,000 689 272 295 6 Seller's GA Duluth $1,599,999 $1,385,000 21 11 9 5 Seller's HI Island of Hawaii $2,100,000 $1,550,000 145 27 37 27 Seller's HI Kauai $2,850,000 $2,200,000 67 8 14 99 Balanced HI Maui $3,924,500 $2,162,500 150 28 22 166 Buyer's HI Oahu $3,475,000 $2,080,000 187 43 43 21 Seller's IA Greater Des Moines $658,111 $615,000 482 130 149 15 Seller's ID Ada County $799,900 $755,823 705 319 316 12 Seller's ID Northern Idaho $1,699,000 $1,290,000 529 167 71 60 Buyer's IL Chicago $1,600,000 $1,320,000 667 304 439 9 Seller's IL DuPage County $1,259,450 $935,000 248 103 199 8 Seller's IL Lake County $1,199,900 $887,450 280 121 148 9 Seller's IL Will County $675,000 $620,000 235 131 183 7 Seller's IN Hamilton County $877,300 $780,000 140 68 163 4 Seller's KS Johnson County $849,547 $850,000 465 81 201 3 Seller's
LUXURY MONTHLY MARKET REVIEW –SINGLE-FAMILY HOMES
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Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars. State Market Name Median List Price Median Sold Price Inventory New Listings Sold Days on Market Market Status MA Cape Cod $2,495,000 $1,800,000 165 39 29 19 Balanced MA Greater Boston $3,349,500 $2,505,000 156 42 74 19 Seller's MA South Shore $1,950,000 $1,550,000 91 30 39 20 Seller's MD Anne Arundel County $995,000 $937,500 169 77 144 5 Seller's MD Frederick County $846,950 $880,000 42 19 39 8 Seller's MD Howard County $1,155,376 $1,025,000 71 28 66 5 Seller's MD Montgomery County $1,993,950 $1,609,500 164 73 152 7 Seller's MD Talbot County $3,795,000 $1,925,000 43 10 10 33 Seller's MD Worcester County $992,945 $787,000 56 14 13 5 Seller's MI Grand Traverse $1,250,000 $1,237,500 99 50 19 36 Balanced MI Livingston County $749,950 $727,000 104 43 40 10 Seller's MI Monroe County $712,450 $585,000 20 10 9 16 Seller's MI Oakland County $779,000 $655,000 737 312 393 8 Seller's MI Washtenaw County $996,250 $775,000 158 57 93 6 Seller's MI Wayne County $750,000 $647,600 167 73 116 8 Seller's MN Olmsted County $897,450 $795,000 76 15 31 17 Seller's MN Twin Cities $1,200,000 $1,030,000 837 303 299 11 Seller's MO Kansas City $714,475 $669,000 1110 225 485 3 Seller's MO St. Louis $885,000 $651,500 117 58 119 6 Seller's NC Asheville $1,199,000 $869,500 259 81 90 8 Seller's NC Charlotte $1,275,000 $956,000 545 211 449 3 Seller's NC Lake Norman $1,249,700 $995,000 201 70 99 6 Seller's NC Raleigh-Durham $1,150,000 $977,540 478 159 303 3 Seller's NJ Bergen County $2,200,000 $1,790,000 252 81 95 25 Seller's NJ Hudson County $1,599,500 $1,962,000 24 13 7 8 Seller's NJ Morris County $1,799,000 $1,400,000 145 66 75 14 Seller's NJ Ocean County $979,900 $880,500 483 191 160 15 Seller's NM Taos $1,259,000 $867,500 73 19 8 102 Buyer's NV Lake Tahoe $3,600,000 $2,595,000 107 31 15 103 Buyer's NV Las Vegas $1,650,000 $1,495,000 611 206 110 32 Balanced NV Reno $1,849,000 $1,870,000 127 45 29 56 Seller's NY Finger Lakes $1,625,000 $1,505,000 31 10 5 8 Balanced NY Nassau County $1,950,000 $1,450,000 679 210 145 30 Seller's NY Staten Island $1,289,444 $1,037,500 148 39 28 84 Balanced NY Suffolk County $1,900,000 $1,175,000 840 251 171 32 Balanced OH Cincinnati $874,900 $797,500 242 78 142 2 Seller's OH Cleveland Suburbs $849,000 $690,000 45 23 41 5 Seller's OH Columbus $862,500 $750,000 492 247 323 5 Seller's
LUXURY MONTHLY MARKET REVIEW –SINGLE-FAMILY HOMES
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Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars. State Market Name Median List Price Median Sold Price Inventory New Listings Sold Days on Market Market Status ON GTA - Durham $1,799,000 $1,580,000 277 207 121 8 Seller's ON GTA - York $2,499,894 $1,990,000 600 464 229 8 Seller's ON Hamilton $1,949,000 $1,529,900 220 139 45 14 Balanced ON Mississauga $3,250,000 $2,421,900 150 114 50 9 Seller's ON Oakville $3,024,500 $2,337,500 136 117 62 14 Seller's ON Toronto $3,749,000 $3,200,000 493 299 137 9 Seller's ON Waterloo Region $1,449,000 $1,265,000 155 133 126 10 Seller's OR Portland $1,325,000 $1,127,000 $735 $304 $235 $9 Seller's SC Charleston $1,881,000 $1,441,250 453 155 174 12 Seller's SC Hilton Head $1,995,000 $1,633,000 225 51 78 30 Seller's SC The Grand Strand $875,000 $835,000 381 98 116 73 Seller's TN Greater Chattanooga $950,000 $870,000 197 53 66 4 Seller's TN Knoxville $943,500 $855,000 135 58 84 5 Seller's TN Nashville $1,750,000 $1,399,555 879 298 275 8 Seller's TX Austin $1,200,000 $990,000 1434 539 357 15 Seller's TX Collin County $755,000 $725,000 1223 597 695 14 Seller's TX Dallas $1,393,094 $1,090,000 476 223 219 13 Seller's TX Denton County $775,000 $750,000 1127 548 459 12 Seller's TX El Paso $640,000 $618,000 207 61 42 31 Balanced TX Fort Worth $899,700 $803,400 1040 466 461 12 Seller's TX Greater Tyler $650,000 $689,950 232 102 40 16 Balanced TX Houston $1,075,000 $915,000 1047 463 396 10 Seller's TX Lubbock $649,975 $562,500 160 68 32 71 Balanced TX San Angelo $599,900 $592,738 71 18 12 58 Balanced TX San Antonio $790,000 $779,000 634 252 189 29 Seller's TX The Woodlands & Spring $884,900 $795,000 209 128 150 7 Seller's UT Park City $4,600,000 $3,640,786 216 77 24 18 Buyer's UT Salt Lake City $1,179,900 $1,040,000 485 199 163 14 Seller's VA Arlington & Alexandria $2,219,000 $1,875,000 101 38 40 7 Seller's VA Charlottesville $1,263,729 $965,000 133 30 64 5 Seller's VA Fairfax County $2,000,000 $1,500,000 330 145 190 6 Seller's VA McLean & Vienna $2,699,000 $1,770,000 138 52 73 7 Seller's VA Richmond $829,500 $849,950 313 88 224 7 Seller's VA Smith Mountain Lake $1,750,000 $1,170,000 35 4 5 5 Buyer's WA King County $2,062,500 $1,720,000 862 474 591 6 Seller's WA Seattle $1,999,999 $1,750,000 250 139 155 6 Seller's WA Spokane $1,149,500 $935,500 190 98 38 7 Balanced
LUXURY MONTHLY MARKET REVIEW –ATTACHED HOMES
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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. State Market Name Median List Price Median Sold Price Inventory New Listings Sold Days on Market Market Status AB Calgary $769,995 $705,000 152 90 50 15 Seller's AZ Chandler and Gilbert - - - - - -AZ Flagstaff - - - - - -AZ Mesa - - - - - -AZ Paradise Valley - - - - - -AZ Phoenix - - - - - -AZ Scottsdale $899,000 $749,950 186 50 104 45 Seller's AZ Tucson - - - - - -BC Mid Vancouver Island $872,000 $838,250 83 44 12 19 Buyer's BC Okanagan Valley - - - - - -BC Vancouver $1,929,900 $1,789,000 973 422 112 11 Buyer's BC Victoria $950,000 $914,230 143 108 78 17 Seller's BC Whistler $2,450,000 $2,400,000 45 20 5 43 Buyer's CA Central Coast $1,200,000 $1,110,500 38 15 22 14 Seller's CA East Bay $1,189,000 $1,050,000 115 66 106 10 Seller's CA Greater Palm Springs - - - - - -CA Lake Tahoe $1,699,000 $912,500 45 13 8 12 Balanced CA Los Angeles Beach Cities $1,889,000 $1,700,000 136 72 59 10 Seller's CA Los Angeles City $1,799,000 $1,416,500 339 115 80 17 Seller's CA Los Angeles The Valley $799,999 $790,500 82 38 92 16 Seller's CA Marin County $1,313,000 $1,075,000 18 6 17 14 Seller's CA Napa County - - - - - -CA Orange County $1,298,000 $1,174,500 259 140 239 19 Seller's CA Placer County - - - - - -CA Sacramento - - - - - -CA San Diego $1,325,000 $1,005,000 277 146 206 9 Seller's CA San Francisco $2,667,500 $2,450,000 128 28 19 22 Buyer's CA San Luis Obispo County - - - - - -CA Santa Barbara - - - - - -CA Silicon Valley $1,688,000 $1,612,500 93 66 80 7 Seller's CA Sonoma County $876,072 $770,000 12 5 14 32 Seller's CA Ventura County $817,500 $770,000 90 39 59 39 Seller's CO Aspen $3,495,000 $3,850,000 46 12 1 49 Buyer's CO Boulder $949,000 $850,000 96 36 23 35 Seller's CO Colorado Springs $574,950 $580,000 38 12 28 19 Seller's CO Denver $895,000 $818,000 166 59 39 18 Seller's CO Douglas County $560,000 $577,500 19 11 6 16 Seller's CO Durango $849,000 $688,000 35 12 8 69 Seller's
LUXURY MONTHLY MARKET REVIEW –ATTACHED HOMES
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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. State Market Name Median List Price Median Sold Price Inventory New Listings Sold Days on Market Market Status CO Summit County $1,199,000 $1,200,000 29 9 10 23 Seller's CO Telluride $2,475,000 $1,175,000 40 11 7 57 Balanced CO Vail $3,752,500 $4,208,000 78 18 9 10 Buyer's CT Central Connecticut - - - - - -CT Coastal Connecticut $1,129,500 $675,000 132 54 74 21 Seller's DC Washington D.C. $1,850,000 $1,595,000 228 85 75 8 Seller's DE Sussex County Coastal $1,200,000 $908,750 22 3 10 28 Seller's FL Boca Raton/Delray Beach $1,049,500 $790,000 306 92 93 29 Seller's FL Brevard County $744,900 $696,750 167 37 38 41 Seller's FL Broward County $707,500 $600,000 692 161 141 48 Balanced FL Coastal Pinellas County $1,200,000 $1,195,000 166 39 67 18 Seller's FL Ft. Lauderdale $2,600,000 $1,945,000 129 29 18 22 Buyer's FL Jacksonville Beaches $1,150,000 $980,000 35 12 17 21 Seller's FL Lee County $849,000 $732,500 422 76 54 31 Buyer's FL Marco Island $1,699,500 $1,750,000 58 14 6 63 Buyer's FL Miami $1,499,000 $1,250,000 1279 238 141 98 Buyer's FL Naples $2,368,040 $2,150,000 255 43 50 42 Balanced FL Orlando $572,450 $572,150 266 77 61 12 Seller's FL Palm Beach Towns $1,695,000 $2,171,906 234 75 76 15 Seller's FL Sarasota & Beaches $1,692,500 $1,311,000 244 42 55 29 Seller's FL South Pinellas County $1,099,500 $900,600 246 61 73 27 Seller's FL South Walton $1,578,800 $1,200,000 196 28 40 30 Balanced FL Tampa $1,103,204 $680,000 220 82 79 8 Seller's GA Atlanta $749,000 $625,000 507 192 173 11 Seller's GA Duluth - - - - - -HI Island of Hawaii $1,935,000 $1,300,000 28 6 19 38 Seller's HI Kauai $1,699,000 $1,150,000 27 6 11 14 Seller's HI Maui $2,100,000 $1,550,000 84 20 37 116 Seller's HI Oahu $1,200,000 $938,000 431 91 91 29 Seller's IA Greater Des Moines - - - - - -ID Ada County $597,400 $595,000 54 25 22 21 Seller's ID Northern Idaho - - - - - -IL Chicago $1,199,900 $970,000 875 283 209 14 Seller's IL DuPage County $699,000 $680,000 23 12 29 7 Seller's IL Lake County - - - - - -IL Will County - - - - - -IN Hamilton County - - - - - -KS Johnson County $628,179 $670,214 146 14 34 24 Seller's
LUXURY MONTHLY MARKET REVIEW –ATTACHED HOMES
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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. State Market Name Median List Price Median Sold Price Inventory New Listings Sold Days on Market Market Status MA Cape Cod $947,000 $966,000 28 8 7 19 Seller's MA Greater Boston $2,495,000 $1,893,500 430 116 110 22 Seller's MA South Shore $867,000 $850,000 12 7 9 47 Seller's MD Anne Arundel County $567,999 $572,098 59 35 64 5 Seller's MD Frederick County - - - - - -MD Howard County $659,990 $641,050 23 15 47 5 Seller's MD Montgomery County $835,000 $750,000 51 40 84 7 Seller's MD Talbot County - - - - - -MD Worcester County $639,500 $621,200 53 22 26 18 Seller's MI Grand Traverse - - - - - -MI Livingston County - - - - - -MI Monroe County - - - - - -MI Oakland County $700,000 $588,750 60 29 28 11 Seller's MI Washtenaw County $698,500 $739,000 62 20 21 13 Seller's MI Wayne County $667,600 $645,000 80 23 13 10 Balanced MN Olmsted County - - - - - -MN Twin Cities - - - - - -MO Kansas City - - - - - -MO St. Louis - - - - - -NC Asheville $768,650 $600,000 44 13 17 16 Seller's NC Charlotte $675,800 $625,000 198 79 109 7 Seller's NC Lake Norman $621,900 $575,000 25 12 13 9 Seller's NC Raleigh-Durham - - - - - -NJ Bergen County $1,199,000 $1,100,000 149 38 31 32 Balanced NJ Hudson County $1,360,000 $1,300,000 121 48 42 12 Seller's NJ Morris County $659,900 $640,000 55 26 65 14 Seller's NJ Ocean County $1,029,900 $775,000 77 26 29 19 Seller's NM Taos - - - - - -NV Lake Tahoe $1,498,000 $1,145,000 19 9 6 51 Seller's NV Las Vegas - - - - - -NV Reno - - - - - -NY Finger Lakes - - - - - -NY Nassau County $1,550,000 $1,139,490 79 18 20 42 Seller's NY Staten Island $609,999 $620,000 89 27 30 51 Seller's NY Suffolk County $775,000 $635,000 120 53 73 40 Seller's OH Cincinnati - - - - - -OH Cleveland Suburbs - - - - - -OH Columbus $699,450 $610,348 98 27 40 8 Seller's
LUXURY MONTHLY MARKET REVIEW –ATTACHED HOMES
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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. State Market Name Median List Price Median Sold Price Inventory New Listings Sold Days on Market Market Status ON GTA - Durham $799,999 $830,000 47 36 19 10 Seller's ON GTA - York $829,500 $775,000 286 268 143 13 Seller's ON Hamilton $909,900 $860,000 32 27 9 13 Seller's ON Mississauga $998,000 $947,750 145 125 74 9 Seller's ON Oakville $1,259,000 $1,302,000 29 24 13 13 Seller's ON Toronto $1,250,000 $1,110,000 966 663 285 11 Seller's ON Waterloo Region $799,900 $756,400 37 26 29 13 Seller's OR Portland $698,000 $649,900 241 98 61 9 Seller's SC Charleston $1,200,000 $900,000 79 25 39 11 Seller's SC Hilton Head $1,149,500 $1,199,900 26 8 29 31 Seller's SC The Grand Strand $549,900 $520,000 192 63 77 60 Seller's TN Greater Chattanooga - - - - - -TN Knoxville - - - - - -TN Nashville $755,000 $662,500 216 78 73 3 Seller's TX Austin $835,000 $812,750 389 128 56 59 Buyer's TX Collin County - - - - - -TX Dallas $795,999 $660,000 165 62 55 15 Seller's TX Denton County - - - - - -TX El Paso - - - - - -TX Fort Worth - - - - - -TX Greater Tyler - - - - - -TX Houston $649,000 $579,900 95 43 39 10 Seller's TX Lubbock - - - - - -TX San Angelo - - - - - -TX San Antonio $701,750 $640,000 30 12 5 50 Balanced TX The Woodlands & Spring - - - - - -UT Park City $1,937,500 $2,848,500 86 32 26 17 Seller's UT Salt Lake City $634,500 $589,400 142 61 44 31 Seller's VA Arlington & Alexandria $1,134,450 $985,000 68 47 85 6 Seller's VA Charlottesville $617,694 $579,257 56 23 21 1 Seller's VA Fairfax County $805,270 $715,500 143 111 184 5 Seller's VA McLean & Vienna $1,199,500 $1,100,000 30 20 19 6 Seller's VA Richmond $571,368 $565,000 84 23 36 6 Seller's VA Smith Mountain Lake - - - - - -WA King County $1,300,000 $1,015,000 254 113 105 10 Seller's WA Seattle $1,487,450 $1,350,000 138 51 33 29 Seller's WA Spokane - - - - - - -
