October 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.
- Where is the luxury real estate market headed is the question, we review this month.
- Media hype, expert opinions and contradictions within the market itself have been causing confusion and creating a lot of uncertainty.
- We look at both the real estate market and influences outside the industry to better understand why there is also so much disparity between different markets, price points and property types.
- Is it still a seller’s market despite the analysis showing that at least 65% of single-family home markets and 80% attached property markets’ data prove that as of the end of September the overall luxury real estate is still favorable to sellers?
- Or does diving a little deeper into the data show a different story and there is a definite transition toward a balanced or even buyer’s market?
- We investigate some of the parameters indicating that there is a downward trajectory as well as those that might halt or reverse this trend.
- We evaluate how buyers and sellers themselves, as well as their purchases over the last two years, are having a significant influence on the current market.
- 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.