December 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.
- In this month’s report we look at why the affluent are taking the long view with respect to luxury real estate ownership.
- As the market continues to cool compared to 2021, we look at current real estate trends and the mindset of the affluent.
- We investigate why the current market is probably experiencing more of a lull and, unless there is a significant change in the economy or a huge increase in inventory, that a crash is unlikely.
- We explain why buyers and sellers must now re-evaluate their expectations and take the time to understand how the market effects them directly, as it is certainly not a one size fits all anymore.
- What should homeowners expect in terms of returns on their investment in the next couple of years and why does uncertainty continue to fuel hesitancy are also trends analysed.
- Finally, we look at why moving to affordable markets and locations less effected by climate change are set to impact decisions in 2023, especially for the younger affluent demographic.
- 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.