November 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 showcases comparative data on the top-residential markets throughout Canada and the United States.
- This month’s report showcases the market statistics for North America month over month as well as the 13 month trend.
- It also provides more in-depth statistics about (XXXX – put your city/area report name here)
- The Institute for Luxury Home Marketing is recognized as the leading source for providing statistical data and analysis on the luxury real estate market and in September provided data driven insights for Coldwell Banker Global Luxury’s A Look at Wealth Report 2020.
- This report, by reviewing the data of Top 10% of the real estate market, established that there were some significant trends created as a result of the affluent’s reaction to the COVID-19 Pandemic.
- We review in the Institute’s Luxury Market Report the figures for October to analysis if these trends are still ongoing in the market, as typically the overall market tends to slow as we approach the winter season, or if it’s still too early to predict.
- These changes by the affluent are not already significant, as they are not only changing the distribution of real estate wealth, but have also created a new wealth demographic – one not based on net worth, age or gender, but instead safety and wellness.
- Coldwell Banker Global Luxury has coined a new term to define this new demographic: Trailblazers. These were then subdivided into three further groups based on their choice of destination: Explorers, New Suburbanites and Resorters.
- It is still important for buyers and sellers in the luxury real estate market to recognize which of these many lifestyle changes and migration trends will have lasting impacts and which will not last, once the pandemic is under control.
- For homeowners looking to sell or buy their luxury home in today’s market they 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 it is the time us to switch gears and discover how to leverage these themarket effectively to achieve your goals.
I’m almost always available to chat about real estate, so do NOT ever hesitate to call, text or email me!