July’s Highlights for Luxury Market Report
- The report is a guide to the luxury real estate market in North American. It provides an overall analysis with trends and highlights comparative data on the top-residential markets throughout Canada and the United States.
- This month’s report displays the market statistics for North America month over month as well as the 13-month trend.
- This month we review the last six months to understand how the luxury real estate market has changed and reveal any new trends expected to impact buyer decisions as we move forward.
- Historically, the start of 2022 was one of the strongest markets on record for the luxury market and even though experts predicted that we would see a slowing down, we analyse when and what were contributors of change at the end of March 2022.
- Discover why homeowners, who previously had been wary of putting their home on the market, felt that the spring market would be more favorable.
- We analyse the data from April, May and June comparing month-over-month as well as against March 2022 and then year-over-year to discover the changes in inventory, sales and price levels to help us understand the significance of this changing market.
- Find out why the majority of the markets analysed remain seller’s markets despite rising inventory levels and why you shouldn’t expect to see prices plummet any time soon.
- We take a broad look at which markets are seeing increased demand and which markets are experiencing softening – the results may surprise you.
- Investors in real estate over the next few months should expect a bumpier ride, but long-term expectations are the homeownership still offers the most consistency as an investment – not just financially but as a secure haven for your family.
- It is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities, rather than just listening to the market rhetoric.
- For homeowners looking to sell or buy their luxury home in today’s market we recommend working with a realtor who can provide you with critical knowledge about your local market, maintain a high level of security during the transaction and knows how to leverage technology to provide maximum exposure and assistance.
It is my responsibility as your REALTOR to ensure that when others around you are lowering their expectations, that this becomes the time for us to switch gears and discover how to leverage the market effectively to achieve your goals.