Concierge Auctions 2021 Luxury Homes Index

INDEX LUXURY HOMES

2021

|

VOL 5

DAYS ON M ARKE T P E RCE N T OF L I S T PRI CE P R I CE R E DUCTI ON S F I N AL SA LE S PRI CE

CONTENTS 04

08

12

32

The Big Question

The Cost of Days On Market

Final Sale Price

Percent of List Price

06

10

22

42

The Luxury Landscape

Luxury Markets

Total Days On Market

Top Sales/YOY: 2015-2020

PRESS INQUIRIES: Concierge Auctions inquiries@conciergeauctions.com 212.658.1404

01

THE BIG QUESTION How long will it take for my luxury property to sell? That is the question many property owners have, but the answer is often complicated.

THE INDEX Each year, Concierge Auctions researches and provides insights into the most expensive property sales in the most desirable markets in the United States. The fifth edition of the Concierge Auctions Luxury Homes Index analyzes the 10 highest property sales in 56 top luxury markets across the United States to determine the impact that the number of days a high-end property is on the market has on its final

04 | LU X U R Y H O M E S I N D E X

sale price.

05 | LU X U R Y H O M E S I N D E X

Data was compiled by the Concierge Auctions team from Multiple Listing Services (MLS) and public property records.

02

THE LUXURY LANDSCAPE In today’s real estate market, there is limited liquidity for luxury.

Luxury properties are difficult to value and sell. The buyer pool is small and often spread over a large geographic range. Moreover, price has little bearing on demand, and multiple buyers don’t always arrive at once. Price reductions undermine the value of a property and may cause buyers to sit back and wait, hoping that the price will drop again.

Individual luxury real estate markets are subject to variables that may be independent of the national real estate landscape.

The number of competitive properties listed, the absorption rate in the specific market, seasonality, and local economic

06 | LU X U R Y H O M E S I N D E X

factors can all help determine how quickly a property will sell.

07 | LU X U R Y H O M E S I N D E X

THE RESULT? It can take time for a luxury property seller to find the right buyer. There is a point of inflection where real estate turns from necessary to discretionary. Similar to other luxury consumption, once an item has been enjoyed and highly customized to its owner, it may be worth significantly less to the buyer. High-end real estate acts the same way—plus, it is static in location.

03

THE COST OF DAYS ON MARKET Days On Market are expensive and directly correlate with perceived value.

Our research continues to indicate that the largest factor in determining the final sale price of a luxury property is the number of days that it has been on the market.

Every day a luxury property is marketed for sale, it depreciates in value. When a property has been on the market for a prolonged period of time, not only does it suffer from negative perception, but there is an inherent cost associated with the accumulated days. This is especially

08 | LU X U R Y H O M E S I N D E X

true in markets with a high level of second homes.

09 | LU X U R Y H O M E S I N D E X

Information about your property’s history is more readily available than ever. Buyers can clearly see the full history of a property, including total Days On Market; any time it has been de-listed and re-listed; price reductions; and every listing agent hired. A home that has been on the market for a significant amount of time and has seen multiple price reductions will often sell for a fraction of the original list price.

04

10 | LU X U R Y H O M E S I N D E X

INDEX MARKETS Aspen Atlanta Beverly Hills Boca Raton Boston Brentwood Broward County Cape Cod Chicago Dallas Denver Duval/St Johns Fairfax Fairfield County

Greenwich Hamptons Holmby/Bel Air Houston Kauai Kona Lake Tahoe Las Vegas Malibu Martha’s Vineyard Maui Miami Nantucket Naples

Nashville New Hampshire New York Morristown/Essex Oahu Orange County Pacific Palisades Palm Beach Palo Alto Park City Philadelphia Phoenix Rancho Santa Fe Rhode Island

11 | LU X U R Y H O M E S I N D E X

San Diego San Francisco Santa Barbara Sarasota Seattle Sonoma Sun Valley Tampa Telluride Vail Vermont Vero Beach Westchester Westlake Village

05

2020 | FINAL SALE PRICE The average price of top sales in the 56 luxury markets evaluated in 2020 was $15,145,856.

This is a 13.3% increase from $13,364,312 in 2019.

HOT VS COLD The top sales in New York, NY achieved the highest average Sale Price of all 56 markets at $65,561,281, followed by Palm Beach, FL at $48,294,758. By contrast, the lowest average Sale Prices achieved were in Philadelphia, PA at $2,033,600, and Morristown/Essex, NJ at $2,530,000.

1 2 3 4 5 6 7 8 9 10

New York, NY Palm Beach, FL Hamptons, NY Beverly Hills, CA Santa Barbara, CA Aspen, CO Holmby/Bel Air, CA Miami, FL Orange County, CA Brentwood, CA

LOWEST

HIGHEST

12 | LU X U R Y H O M E S I N D E X

The Top 10 Philadelphia, PA Morristown + Essex, NJ Denver, CO Sun Valley, ID Chicago, IL Westlake Village, CA New Hampshire Nashville, TN Sonoma County, CA Duval & St Johns Counties, FL

13 | LU X U R Y H O M E S I N D E X

$16,000,000

$15,000,000

AV E R A G E S A L E P R I C E

$14,000,000

$13,000,000

$12,000,000

$11,000,000

$10,000,000

2015

2016

2017

2018

2019

2020

Created by Oliver Gomez from the Noun Project

SALE PRICE: HOT

NEW YORK, NY Average Sale Price is highest of all markets; Over 4x more than the average and a 58% market increase since 2018.

New York, NY continues to top the charts for the highest Sale Price achieved.

At $65,561,281, while the average price of the top 10 sales in the market remains on par with the $65,371,204 achieved in 2019, the market saw a 58.09% increase since 2018. Moreover, the average Sale Price for top sales in 2020 is 432.87% higher than all 56 U.S. markets analyzed.

AV E R A G E S A L E P R I C E

14 | LU X U R Y H O M E S I N D E X

$80,000,000

$60,000,000

$40,000,000

$20,000,000

$0

2018

2019

2020

15 | LU X U R Y H O M E S I N D E X

Created by Oliver Gomez from the Noun Project

SALE PRICE: HOT

PALM BEACH, FL Average Sale Price jumps $23 million in 2020, a nearly 93% increase from 2019 and the second highest achieved of all markets.

The average Sale Price in Palm Beach, FL jumped a whopping $23 millionplus from 2019 to 2020—a nearly 93% increase, from $25,031,345 in 2019 to $48,294,758 in 2020, and the market’s highest average achieved in five consecutive years.

AV E R A G E S A L E P R I C E

$60,000,000

$45,000,000

$30,000,000

$15,000,000

$0

2015

2016

2017

2018

2019

2020

Created by Oliver Gomez from the Noun Project

SALE PRICE: HOT

VERMONT Average Sale Price rises nearly 160%, the highest percentage increase of all other markets.

Vermont tops the list as the highest percentage jump in average Sale Price of all 56 U.S. luxury markets analyzed, from $2,792,100 in 2019 to $7,253,736—a staggering 159.8% increase.

AV E R A G E S A L E P R I C E

16 | LU X U R Y H O M E S I N D E X

$8,000,000

$6,000,000

$4,000,000

$2,000,000

$0

2018

2019

2020

17 | LU X U R Y H O M E S I N D E X

Created by Oliver Gomez from the Noun Project

SALE PRICE: HOT

WESTLAKE, CA Average Sale Price sees 108% increase from 2019, its highest in the last five consecutive years.

The average Sale Price of the top sales in Westlake Village, CA jumped 107.97% in 2020, from $2,397,170 in 2019, which was the lowest the market has seen in the last five consecutive years and the largest drop of all 56 markets analyzed—to its highest ever, at $6,108,300. The increase makes the market one of the highest % of gains in Sale Price in 2020.

AV E R A G E S A L E P R I C E

$8,000,000

$6,000,000

$4,000,000

$2,000,000

$0

2015

2016

2017

2018

2019

2020

Created by ProSymbols from the Noun Project

SALE PRICE: COLD

PHILADELPHIA, PA Average Sale Price is lowest of all markets; drops 55% in 2020.

Top sales in Philadelphia, PA saw the lowest average Sale Price achieved in 2020, at $2,033,600. The average is also the second largest YOY decrease, from $4,495,180 in 2019—a drop of 54.8%.

AV E R A G E S A L E P R I C E

18 | LU X U R Y H O M E S I N D E X

$6,000,000

$4,500,000

$3,000,000

$1,500,000

$0

2017

2018

2019

2020

19 | LU X U R Y H O M E S I N D E X

Created by ProSymbols from the Noun Project

SALE PRICE: COLD

MORRISTOWN/ESSEX, NJ Average Sale Price decreases 38% to the market’s lowest in three consecutive years.

The average Sale Price of the top sales in Northern New Jersey’s market of Morristown/Essex dropped 38.37% in 2020, from $4,105,000 in 2019 to $2,530,000 in 2020, the third highest YOY decrease for average Sale Price of all 56 luxury U.S. markets analyzed and the market’s lowest in three consecutive years.

AV E R A G E S A L E P R I C E

$6,000,000

$4,500,000

$3,000,000

$1,500,000

$0

2018

2019

2020

Created by ProSymbols from the Noun Project

SALE PRICE: COLD

HOLMBY/BEL AIR, CA Average Sale Price is the largest drop of all markets, plummeting nearly 60% in 2020 from a peak in 2019.

The average Sale Price for the top sales in Holmby/Bel Air, CA dropped 56.57% in 2020, from $63,250,000 in 2019 to $27,470,000. The decrease is the largest drop in average Sale Price of all 56 luxury U.S. markets analyzed.

AV E R A G E S A L E P R I C E

20 | LU X U R Y H O M E S I N D E X

$60,000,000

$45,000,000

$30,000,000

$15,000,000

$0

2015

2016

2017

2018

2019

2020

21 | LU X U R Y H O M E S I N D E X

Created by ProSymbols from the Noun Project

SALE PRICE: COLD

KONA, HI Average Sale Price is lowest average in four consecutive years, dropping nearly 36% in 2020.

Kona, HI saw its lowest average Sale Price in four consecutive years, dropping 35.71% in 2020, from $13,067,000 in 2019 to $8,400,191.

The average is the lowest achieved in four consecutive years. 2019 was its highest, followed by $11,650,000 in 2017 and $11,430,800 in 2018.

AV E R A G E S A L E P R I C E

$16,000,000

$12,000,000

$8,000,000

$4,000,000

$0

2017

2018

2019

2020

06

2020 | DAYS ON MARKET The average Days On Market for the 56 markets evaluated in 2020 was 497 days, an 11% increase from the 451 days in 2019.

Two-thirds of the top sales evaluated in 2020 were on the market more than 180 days. The average for the 33% properties listed for 180 days or less was only 80 days, on par with the last three consecutive years. By comparison, for the 67% listed more than 180 days, average Days On

22 | LU X U R Y H O M E S I N D E X

Market jumped over 40%, to an average of 702 days total.

HOT VS COLD The lowest average Days On Market were in Sonoma County, CA and Denver, CO at 86 days and 119 days, respectively.

By contrast, the highest were in Kauai, HI and the Hamptons, NY at 1,081 and 887 days.

23 | LU X U R Y H O M E S I N D E X

1 2 3 4 5 6 7 8 9 10

Kauai, HI Hamptons, NY Aspen, CO Martha’s Vineyard, MA Maui, HI Chicago, IL Rhode Island Phoenix, AZ Vero Beach, FL Vail, CO

LOWEST

HIGHEST

The Top 10 Sonoma, CA Denver, CO San Francisco, CA Palo Alto, CA Vermont Philadelphia, PA Telluride, CO Morristown/Essex, NJ Brentwood, CA Houston, TX

1,000

AV E R A G E D O M

800

600

400

200 180 DOM

0

2015

2016

Market with average DOM ≤180

2017

2018

Market with average DOM >180

2019

All markets

2020

Created by Oliver Gomez from the Noun Project

DAYS ON MARKET: HOT

SONOMA COUNTY, CA Average Days On Market is lowest of all other markets for second consecutive year, dropping 90% since 2016.

In 2020, the top sales in Sonoma, CA were on the market an average of only 86 days, making it the lowest of all 56 luxury U.S. markets analyzed for the second consecutive year. The market has continually seen a rapid decrease of Days On Market, dropping 89.40% over four years from its 811-day peak in 2016.

AV E R A G E D AYS O N M A R K E T

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1,200

900

600

300

0

2015

2016

2017

2018

2019

2020

25 | LU X U R Y H O M E S I N D E X

Created by Oliver Gomez from the Noun Project

DAYS ON MARKET: HOT

DENVER, CO At just under four months to sell, Average Days On Market drops 77% and ranks the second lowest of all markets.

Denver, CO saw a dramatic turn in 2020. The market ranks the second lowest for Days On Market, with top sales taking an average of just 119 days to sell. This is 77.2% less time than those in 2019 and is the market’s lowest average since 2017.

AV E R A G E D AYS O N M A R K E T

600

450

300

150

0

2017

2018

2019

2020

Created by Oliver Gomez from the Noun Project

DAYS ON MARKET: HOT

CAPE COD, MA Top Sales taking one and a half years less time to sell than in years prior; Average Days On Market drops 64% to lowest in past four years.

In 2020, the top sales in Cape Cod, MA were on the market less than one year, selling in average of 322 days, a 63.95% decrease from its 921 average Days On Market in 2019. The average is also the lowest the market has seen in four consecutive years and the second highest drop of all 56 luxury U.S. markets analyzed.

AV E R A G E D AYS O N M A R K E T

26 | LU X U R Y H O M E S I N D E X

1,200

900

600

300

0

2017

2018

2019

2020

27 | LU X U R Y H O M E S I N D E X

Created by Oliver Gomez from the Noun Project

DAYS ON MARKET: HOT

PARK CITY, UT Average Days On Market decreases 55%, it’s lowest in past four consecutive years.

Like Denver, Park City, UT also saw a dramatic turn in 2020. While properties are taking just over a year to sell, at 379 days, this is 55.41% less time than those in 2019 (850 days) and is the market’s lowest average in four years by 63.52%. By contrast, in 2017, top sales lingered on the market 1,039 days.

AV E R A G E D AYS O N M A R K E T

1,200

900

600

300

0

2017

2018

2019

2020

Created by ProSymbols from the Noun Project

DAYS ON MARKET: COLD

KAUAI, HI Properties taking nearly 3 years to sell; Average Days On Market is highest of all other markets, increasing more than 200% since 2017.

Kauai, HI tops the list for longest Days On Market of all 56 U.S. luxury markets analyzed in 2020, at 1,081 days—the highest the market has seen in the past four consecutive years and an increase of 202.80%, from just 357 days in 2017.

AV E R A G E D AYS O N M A R K E T

28 | LU X U R Y H O M E S I N D E X

1,200

900

600

300

0

2017

2018

2019

2020

29 | LU X U R Y H O M E S I N D E X

Created by ProSymbols from the Noun Project

DAYS ON MARKET: COLD

HAMPTONS, NY Second highest Days On Market of all markets; Properties taking nearly two and half years to sell.

The Hamptons, NY remains relatively on par with the last three years in average Days On Market, topping the charts in 2020 as the second highest of all markets, at 887 days, or nearly two a half years.

AV E R A G E D AYS O N M A R K E T

1,200

900

600

300

0

2018

2019

2020

Created by ProSymbols from the Noun Project

DAYS ON MARKET: COLD

WESTLAKE VILLAGE, CA Highest increase in average Days On Market of all markets, at 253%.

The average Days On Market for top sales in Westlake Village, CA was over one and a half years, or 593 days, an increase of 252.98% from 2019. This is the longest average Days On Market the market has seen in five consecutive years and the largest jump of all markets in 2020.

AV E R A G E D AYS O N M A R K E T

30 | LU X U R Y H O M E S I N D E X

1,200

900

600

300

0

2016

2017

2018

2019

2020

31 | LU X U R Y H O M E S I N D E X

Created by ProSymbols from the Noun Project

DAYS ON MARKET: COLD

VAIL, CO Average Days On Market rises 131%, the second highest increase of all markets.

The average Days On market for top sales in Vail, CO was 658 days in 2020, an increase of 130.88% from 285 days in 2019. The jump is the second highest of all markets analyzed in 2020.

AV E R A G E D AYS O N M A R K E T

1,200

900

600

300

0

2016

2017

2018

2019

2020

07

2020 | % OF LIST PRICE The average percent of Original List Price achieved for the 56 luxury U.S. markets evaluated in 2020 was 85.54%.

Of these, the properties that sold within 180 days achieved 94.06% of their Original List Price. By contrast, those that took longer than 180 days to sell achieved just 80.6%.

This over 13% difference can be substantial when dealing with multi-million dollar properties and does not include carry costs, property taxes, or other expenditures of both time and money.

HOT VS COLD

32 | LU X U R Y H O M E S I N D E X

The lowest average percent of Original List Price achieved for top sales in 2020 were in the Hamptons, NY, at 62.95%, followed by Beverly Hills, CA, at 69.06%. Conversely, properties in Nantucket, MA achieved over asking price and the highest percent of Original List Price, at 116.61%, followed by Vermont at 97.51%.

33 | LU X U R Y H O M E S I N D E X

1 2 3 4 5 6 7 8 9 10

Nantucket, MA Vermont Philadelphia, PA Park City, UT Denver, CO Lake Tahoe (CA/NV) Oahu, HI Boca Raton, FL Sun Valley, ID Sonoma County, CA

LOWEST

HIGHEST

The Top 10 Hamptons, NY Beverly Hills, CA Holmby/Bel Air, CA Broward County, FL Martha’s Vineyard, MA Vero Beach, FL San Diego County, CA Greenwich, CT Rhode Island Miami, FL

100%

AV E R A G E % O L P TO S P

90%

80%

70%

60%

50%

2015

2016

Market with average DOM ≤180

2017

2018

Market with average DOM >180

2019

All markets

2020

Created by Oliver Gomez from the Noun Project

% OLP: HOT

NANTUCKET, MA Top sales achieved highest percent of Original List Price of all other markets; rises 29%.

In 2020, the top sales in Nantucket, MA achieved over Original List Price, at an average of 116.61%. Comparative to 2019, Nantucket also saw a jump YOY with an increase of 29.10% in 2020 from 86.49% of Original List Price achieved in 2019.

AV E R A G E % O L P TO S P

34 | LU X U R Y H O M E S I N D E X

100%

75%

50%

25%

0%

2018

2019

2020

35 | LU X U R Y H O M E S I N D E X

Created by Oliver Gomez from the Noun Project

% OLP: HOT

VERMONT Top sales achieved 98% of Original List Price in 2020, a 21% increase from 2019.

The top sales in Vermont achieved 97.57% of their asking price in 2020, up 21.23% from the 80.48% garnered in 2019.

AV E R A G E % O L P TO S P

100%

75%

50%

25%

0%

2018

2019

2020

Created by Oliver Gomez from the Noun Project

% OLP: HOT

PALM BEACH, FL Percent of Original List Price achieved rises 28.39% in 2020.

In 2020, the top sales in Palm Beach, FL achieved 90.81% of Original List Price, an increase of 28.39% from 70.73% in 2019 and the highest percentage in the six consecutive years.

AV E R A G E % O L P TO S P

36 | LU X U R Y H O M E S I N D E X

100%

75%

50%

25%

0%

2015

2016

2017

2018

2019

2020

37 | LU X U R Y H O M E S I N D E X

Created by Oliver Gomez from the Noun Project

% OLP: HOT

FAIRFIELD COUNTY, CT Average % of Original List Price rises 38%, to 90% in 2020, a stark contrast to it’s prior lowest market rating in just a year’s time.

Fairfield County, CT saw a dramatic turn in 2020 in the percent of Original List Price achieved for top sales. In 2019, the market garnered just 65.30%, the lowest percentage of all analyzed in 2019. By contrast, in 2020, it achieved 89.98% of ask—it’s highest average in four consecutive years.

AV E R A G E % O L P TO S P

100%

75%

50%

25%

0%

2017

2018

2019

2020

Created by ProSymbols from the Noun Project

% OLP: COLD

HAMPTONS, NY Top sales achieved just 63% of Original List Price, the lowest percentage of all markets in 2020.

The top sales in the Hamptons, NY achieved just 62.95% of their Original List Price in 2020, the lowest percentage in the past three consecutive years and of all markets analyzed for 2020.

AV E R A G E % O L P TO S P

38 | LU X U R Y H O M E S I N D E X

100%

75%

50%

25%

0%

2018

2019

2020

39 | LU X U R Y H O M E S I N D E X

Created by ProSymbols from the Noun Project

% OLP: COLD

BEVERLY HILLS, CA Top Sales achieved just 69% of their original asking price in 2020, the lowest in the past six consecutive years.

It’s lowest average in the past six consecutive years, the top sales in Beverly Hills, CA achieved just 69.06% of Original List Price. This is a 13.92% drop from 2019 and 2018, at 80.23% and 80.95%, respectively.

AV E R A G E % O L P TO S P

100%

75%

50%

25%

0%

2015

2016

2017

2018

2019

2020

Created by ProSymbols from the Noun Project

% OLP: COLD

BROWARD COUNTY, FL Top sales achieved just 73% of Original List Price in 2020.

While Broward County, FL has remained relatively flat the last three consecutive years, in 2020, the top sales in the market achieved 72.78% of asking price—just slightly down from 75.62% in 2019 and 81.85% in 2018.

AV E R A G E % O L P TO S P

40 | LU X U R Y H O M E S I N D E X

100%

75%

50%

25%

0%

2018

2019

2020

41 | LU X U R Y H O M E S I N D E X

Created by ProSymbols from the Noun Project

% OLP: COLD

VERO BEACH, FL Market ranks one of lowest for % of Original List Price achieved, with top sales garnering just 75% in 2020.

The top sales in Vero Beach, FL continue to fall within the 60% to 80% range of Original List Price achieved, garnering just 75.15% in 2020.

AV E R A G E % O L P TO S P

100%

75%

50%

25%

0%

2015

2016

2017

2018

2019

2020

42 | LU X U R Y H O M E S I N D E X

08

TOP SALES

2015-2020

43 | LU X U R Y H O M E S I N D E X

2020 Top Sales: Highest Priced Sales in 56 U.S. Luxury Markets.

ST

MARKET

AVG SALE PRICE

AVG DOM

WEST

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

AZ

PHOENIX

$13,412,500

712

33%

37

96.57%

67%

937

85.28%

CA

BEVERLY HILLS

$33,685,000

415

10%

153

94.23%

90%

444

66.26%

CA

BRENTWOOD

$21,766,550

288

11%

153

94.23%

89%

383

69.47%

CA

HOLMBY HILLS + BEL AIR

$27,470,000

508

20%

107

91.87%

80%

608

67.44%

CA† LAKE TAHOE

$20,125,000

400

43%

28

97.08%

57%

678

92.28%

CA

MALIBU

$19,671,800

644

40%

78

88.02%

60%

1,022

74.81%

CA

ORANGE COUNTY

$25,126,800

433

44%

97

92.27%

56%

701

81.13%

CA

PACIFIC PALISADES

$12,037,031

374

33%

104

95.00%

67%

508

77.30%

CA

PALO ALTO

$12,338,000

207

67%

66

89.84%

33%

489

67.40%

CA

RANCHO SANTA FE

$11,743,750

533

40%

67

91.22%

60%

844

67.82%

CA

SAN DIEGO COUNTY

$20,100,000

589

30%

116

92.74%

70%

792

68.34%

CA

SAN FRANCISCO COUNTY

$17,458,000

173

71%

75

92.54%

29%

416

72.72%

CA

SANTA BARBARA

$29,728,325

627

67%

62

88.87%

33%

1,756

77.84%

CA

SONOMA COUNTY

$6,747,900

86

86%

52

93.36%

14%

294

88.30%

CA

WESTLAKE VILLAGE

$6,108,300

593

50%

42

99.45%

50%

1,143

59.53%

CO

ASPEN

$27,892,964

787

33%

115

92.46%

67%

1,124

80.18%

CO

DENVER

$4,721,900

119

86%

94

93.17%

14%

268

94.05%

CO

TELLURIDE

$8,343,875

270

67%

84

93.76%

33%

643

86.38%

CO

VAIL

$19,495,000

658

11%

47

91.67%

89%

735

84.83%

ID

SUN VALLEY

$5,448,300

525

50%

82

95.76%

50%

968

90.81%

NV

LAS VEGAS

$9,029,500

542

12%

23

94.87%

88%

616

77.28%

UT

PARK CITY

$12,800,000

379

25%

84

89.59%

75%

478

98.69%

$19,686,300

329

50%

47

94.84%

50%

612

77.39%

$16,736,382

470

41.18%

78

95.24%

58.82%

744

78.02%

WA SEATTLE WEST MARKET AVERAGE

2020: Top Sales (Cont.)

ST

MARKET

AVG SALE PRICE

AVG DOM

HAWAII

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

HI

KAUAI

$14,480,700

1,081

0%

N/A

N/A

100%

1,081

72.26%

HI

KONA

$8,400,191

638

12%

111

97.78%

88%

713

81.86%

HI

MAUI

$12,722,554

773

0%

N/A

N/A

100%

773

87.75%

HI

OAHU

$8,078,500

438

14%

49

93.47%

86%

502

93.75%

$10,920,486

710

6.67%

80

95.63%

93.33%

755

84.80%

HAWAII MARKET AVERAGE NORTH

UNDER 180 DAYS

OVER 180 DAYS

CT

FAIRFIELD COUNTY

$10,267,500

377

56%

85

93.78%

44%

741

85.24%

CT

GREENWICH

$18,761,000

611

17%

169

87.51%

83%

699

73.35%

IL

CHICAGO

$5,811,786

768

12%

67

98.91%

88%

868

75.34%

MA BOSTON

$10,263,000

379

25%

29

85.46%

75%

496

83.48%

MA CAPE COD

$10,447,778

332

50%

103

94.32%

50%

560

86.17%

MA MARTHA'S VINEYARD

$10,639,500

784

0%

N/A

N/A

100%

784

74.38%

MA NANTUCKET

$18,032,500

420

20%

69

86.71%

80%

508 124.08%

NH

NEW HAMPSHIRE

$6,147,083

301

40%

56

95.99%

60%

464

77.40%

NJ

MORRISTOWN + ESSEX

$2,530,000

283

50%

92

81.69%

50%

475

82.45%

NY

HAMPTONS

$41,635,573

887

0%

N/A

N/A

100%

887

60.03%

NY

NEW YORK

$65,561,281

N/A

0%

N/A

N/A

N/A

N/A

N/A

NY

WESTCHESTER COUNTY

$7,108,500

618

30%

87

97.19%

70%

845

75.99%

PA

PHILADELPHIA

$2,033,600

267

44%

72 100.53%

56%

424

94.08%

RI

RHODE ISLAND

$9,797,700

762

12%

31

98.74%

88%

866

73.20%

VT

VERMONT

$7,253,736

249

50%

121

98.99%

57%

377

96.02%

$15,086,036

505

25%

83

93.90%

70.87%

678

83.34%

NORTH MARKET AVERAGE

45 | LU X U R Y H O M E S I N D E X

Includes Sales Price (SP), Days On Market (DOM), and Percent of Original List Price (OLP) achieved.

ST

MARKET

AVG SALE PRICE

AVG DOM

SOUTH

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

FL

BOCA RATON + DELRAY BEACH + HIGHLAND BEACH

$15,828,600

534

14%

7

92.94%

86%

622

92.60%

FL

BROWARD COUNTY

$15,250,685

382

30%

63

68.20%

70%

519

74.75%

FL

DUVAL + ST. JOHNS COUNTIES

$6,964,200

378

30%

98

95.97%

70%

498

79.06%

FL

MIAMI

$27,265,000

493

20%

72

85.72%

80%

598

74.69%

FL

NAPLES

$14,845,000

639

20%

116

96.76%

80%

770

80.59%

FL

PALM BEACH (PROPER)

$48,294,758

546

67%

172

85.86%

33%

1,293

95.76%

FL

SARASOTA + MANATEE COUNTIES

$10,522,500

522

20%

109

90.33%

80%

625

79.65%

FL

TAMPA

$7,765,980

425

50%

54

90.83%

50%

796

72.82%

FL

VERO BEACH

$7,630,000

698

12%

19

93.75%

88%

795

72.49%

GA

ATLANTA

$9,664,000

639

40%

116

98.68%

60%

987

81.55%

TN

NASHVILLE

$7,021,900

399

50%

68

96.36%

50%

731

83.12%

TX

DALLAS

$8,192,380

546

10%

118

93.35%

90%

593

81.68%

TX

HOUSTON

$7,080,250

289

50%

85

92.88%

50%

493

85.53%

VA

FAIRFAX

$7,582,813

430

25%

63

99.80%

75%

552

84.74%

SOUTH MARKET AVERAGE

$13,804,190

491

29.51%

85

91.59%

70.49%

661

80.22%

OVERALL MARKET AVERAGE

$15,145,856

497

32.81%

80

94.06%

67.19%

702

80.60%

Fewer than 10 sales were used for some markets because public data was incomplete. † Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

2019 Top Sales: Highest Priced Sales in 56 U.S. Luxury Markets.

ST

MARKET

AVG SALE PRICE

AVG DOM

WEST

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

AZ

PHOENIX

$11,333,000

340

50%

111

87.44%

50%

569

84.67%

CA

BEVERLY HILLS

$31,689,958

372

30%

121

87.59%

70%

479

77.08%

CA

BRENTWOOD

$20,359,089

173

78%

84

90.69%

22%

485

76.36%

CA

HOLMBY HILLS + BEL AIR

$63,225,000

269

33%

61

87.84%

67%

373

73.62%

CA† LAKE TAHOE

$10,354,500

390

33%

48

97.77%

67%

562

89.57%

CA

MALIBU

$26,252,000

315

40%

74

93.08%

60%

475

80.73%

CA

ORANGE COUNTY

$25,246,500

333

44%

104

80,76%

56%

516

70.41%

CA

PACIFIC PALISADES

$11,937,367

247

30%

90

96.60%

70%

315

79.83%

CA

PALO ALTO

$9,537,500

184

75%

75

88.21%

25%

511

80.22%

CA

RANCHO SANTA FE

$7,543,967

335

30%

112

95.19%

70%

430

77.66%

CA

SAN DIEGO COUNTY

$15,010,000

366

33%

64

88.68%

67%

518

76.73%

CA

SAN FRANCISCO COUNTY

$15,370,000

164

70%

52

96.09%

30%

425

79.77%

CA

SANTA BARBARA

$17,335,000

281

50%

58

95.02%

50%

505

72.94%

CA

SONOMA COUNTY

$9,309,500

162

60%

103

98.75%

40%

250

88.46%

CA

WESTLAKE VILLAGE

$2,397,170

168

70%

67

96.56%

30%

401

81.70%

CO

ASPEN

$18,829,500

535

25%

137

91.69%

75%

668

82.27%

CO

DENVER

$6,322,349

522

14%

100

87.60%

86%

593

83.01%

CO

TELLURIDE

$6,647,450

584

0%

N/A

N/A

100%

584

87.34%

CO

VAIL

$14,697,400

285

44%

39

90.42%

56%

482

86.61%

ID

SUN VALLEY

$5,536,300

488

40%

84

97.18%

60%

757

86.18%

NV

LAS VEGAS

$6,940,075

463

10%

89

78.13%

90%

505

68.61%

UT

PARK CITY

$11,906,208

850

20%

74

92.24%

80%

1,043

96.43%

$10,720,500

205

60%

40

95.66%

40%

454

79.63%

$15,586,971

350

41%

76

92.38%

59%

540

80.84%

WA SEATTLE WEST MARKET AVERAGE

47 | LU X U R Y H O M E S I N D E X

Includes Sales Price (SP), Days On Market (DOM), and Percent of Original List Price (OLP) achieved.

ST

MARKET

AVG SALE PRICE

AVG DOM

HAWAII

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

HI

KAUAI

$6,694,542

603

0%

N/A

N/A

100%

603

81.46%

HI

KONA

$13,067,000

324

57%

36

82.98%

43%

709

86.93%

HI

MAUI

$10,776,214

922

0%

N/A

N/A

100%

922

85.85%

HI

OAHU

$10,956,681

560

33%

60

90.74%

67%

811

91.77%

$10,373,609

628

21%

46

86.31%

79%

779

85.98%

HAWAII MARKET AVERAGE NORTH

UNDER 180 DAYS

CT

FAIRFIELD COUNTY

CT

GREENWICH

IL

CHICAGO

OVER 180 DAYS

$5,077.443

538

11%

45 120.54%

89%

600

58.40%

$18,179,000

615

17%

61

94.18%

83%

726

73.78%

$4,978,367

468

30%

81

96.29%

70%

633

79.30%

MA BOSTON

$11,944,692

259

33%

89 100.87%

67%

344

88.14%

MA CAPE COD

$10,250,000

921

20%

127

95.01%

80%

1,119

76.71%

MA MARTHA'S VINEYARD

$13,803,350

553

12%

135

89.66%

88%

612

69.51%

MA NANTUCKET

$13,380,335

406

17%

104

97.00%

83%

466

84.39%

NH

NEW HAMPSHIRE

$4,407,525

545

40%

103

95.39%

60%

840

76.00%

NJ

MORRISTOWN + ESSEX

$4,105,000

445

20%

120

95.32%

80%

526

78.44%

NY

HAMPTONS

$25,804,398

847

0%

N/A

N/A

100%

847

72.61%

NY

NEW YORK

$65,371,204

1,218

0%

N/A

N/A

100%

1,218

44.17%

NY

WESTCHESTER COUNTY

$6,218,540

358

30%

88

88.65%

70%

474

77.43%

PA

PHILADELPHIA

$4,495,180

244

44%

84

87.95%

56%

372

89.05%

RI

RHODE ISLAND

$6,951,000

474

44%

136

89.31%

56%

744 110.10%

VT

VERMONT

$2,792,100

455

43%

134

95.92%

57%

696

68.90%

$13,183,876

506

27%

103

94.31%

73%

654

77.54%

NORTH MARKET AVERAGE

Fewer than 10 sales were used for some markets because public data was incomplete. † Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

2019: Top Sales (Cont.)

ST

MARKET

AVG SALE PRICE

AVG DOM

SOUTH

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

FL

BOCA RATON + DELRAY BEACH + HIGHLAND BEACH

$12,813,300

542

30%

94

92.96%

70%

734

96.00%

FL

BROWARD COUNTY

$10,896,503

490

20%

114

84.93%

80%

584

73.29%

FL

DUVAL + ST. JOHNS COUNTIES

$5,630,200

408

44%

33

96.85%

56%

708

78.13%

FL

MIAMI

$23,938,500

429

22%

109

66.85%

78%

521

76.75%

FL

NAPLES

$19,715,000

477

33%

80

94.03%

67%

676

82.07%

FL

PALM BEACH (PROPER)

$25,031,345

703

0%

N/A

N/A

100%

703

70.73%

FL

SARASOTA + MANATEE COUNTIES

$8,517,500

724

25%

69

95.44%

75%

942

65.94%

FL

TAMPA

$4,868,500

227

63%

96

93.88%

38%

445

73.84%

FL

VERO BEACH

$5,922,000

1,190

10%

167

84.62%

90%

1,304

64.57%

GA

ATLANTA

$6,971,526

394

30%

74

95.50%

70%

531

82.78%

TN

NASHVILLE

$7,185,000

464

33%

37

92.35%

67%

677

81.32%

TX

DALLAS

$7,251,000

317

40%

73

92.02%

60%

480

81.45%

TX

HOUSTON

$5,835,400

367

50%

71

87.88%

50%

663

88.79%

VA

FAIRFAX COUNTY

$6,072,771

405

40%

43 101.66%

60%

646

84.11%

SOUTH MARKET AVERAGE

$10,760,610

517

31%

76

91.57%

69%

713

77.69%

OVERALL MARKET AVERAGE

$13,364,312

451

33%

80

92.30%

67%

637

79.53%

Fewer than 10 sales were used for some markets because public data was incomplete. † Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

49 | LU X U R Y H O M E S I N D E X

2018 Top Sales: Highest Priced Sales in 56 U.S. Luxury Markets.

ST

MARKET

AVG SALE PRICE

AVG DOM

WEST AZ

PHOENIX

CA

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

$9,177,500

720.0

22%

84

98.28%

78%

902

63.65%

BEVERLY HILLS

$22,852,600

324.6

50%

63

88.54%

50%

586

73.37%

CA

BRENTWOOD

$18,585,175

163.4

60%

94

93.00%

40%

268

77.60%

CA

HOLMBY HILLS + BEL AIR

$27,227,250

226.3

60%

72

88.95%

40%

458

74.12%

CA† LAKE TAHOE

$21,021,054

480.6

44%

92

92.15%

56%

791

78.15%

CA

MALIBU

$21,042,500

490.2

30%

137

80.73%

70%

642

75.96%

CA

ORANGE COUNTY

$26,294,500

528.0

30%

112

94.87%

70%

706

76.84%

CA

PACIFIC PALISADES

$15,398,567

394.6

50%

77

96.65%

50%

712

81.62%

CA

PALO ALTO

$12,313,000

85.5

90%

71

95.06%

10%

217

94.14%

CA

RANCHO SANTA FE

$8,866,296

660.3

50%

70

86.33%

50%

1,250

70.80%

CA

SAN DIEGO COUNTY

$16,684,500

787.1

20%

55

95.86%

80%

970

78.18%

CA

SAN FRANCISCO COUNTY

$15,880,000

102.8

89%

81

90.90%

11%

281

65.17%

CA

SANTA BARBARA

$12,403,745

589.3

10%

92

88.02%

90%

645

78.74%

CA

SONOMA COUNTY

$6,301,250

243.7

60%

91

95.69%

40%

473

81.29%

CA

WESTLAKE VILLAGE

$5,317,500

281.7

60%

72

94.37%

40%

597

81.80%

CO

ASPEN

$16,596,574

400.0

50%

83

93.42%

50%

717

77.64%

CO

DENVER

$6,190,883

200.9

70%

57

80.01%

30%

537

81.85%

CO

TELLURIDE

$6,027,550

804.0

30%

91

84.47%

70%

1,110

76.27%

CO

VAIL

$14,934,000

559.1

33%

69

90.53%

67%

804

85.03%

ID

SUN VALLEY

$6,161,790

705.3

0%

N/A

N/A

100%

705

91.35%

NV

LAS VEGAS

$8,050,000

1,019.6

20%

46 111.90%

80%

1,263

59.62%

UT

PARK CITY

$8,011,750

449.3

30%

84

91.39%

70%

606

86.27%

$13,353,450

466.4

50%

66

96.32%

50%

866

81.33%

$13,856,149

464.5

44%

80

91.75%

56%

700

77.86%

WA SEATTLE WEST MARKET AVERAGE

2018: Top Sales (Cont.)

ST

MARKET

AVG SALE PRICE

AVG DOM

HAWAII

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

HI

KAUAI

$14,232,940

639.7

10%

1

96.00%

90%

711

78.00%

HI

KONA

$11,430,800

203.0

60%

20

92.68%

40%

478

87.20%

HI

MAUI

$11,957,500

673.8

20%

122

96.97%

80%

812

79.18%

HI

OAHU

$16,434,675

980.6

22%

52

97.22%

78%

1,246

79.05%

$13,513,979

624.3

28%

49

95.72%

72%

812

80.86%

HAWAII MARKET AVERAGE NORTH CT

FAIRFIELD COUNTY

CT

GREENWICH

IL

CHICAGO

UNDER 180 DAYS

OVER 180 DAYS

$3,556,000

701.5

20%

123

96.07%

80%

846

67.78%

$12,842,500

542.8

40%

64

92.07%

60%

862

79.17%

$8,066,363

220.2

60%

62

89.81%

40%

457

83.15%

$4,572,914

212.0

50%

24 100.00%

50%

400

85.87%

$10,070,000

663.1

20%

138

89.89%

80%

795

83.60%

MA MARTHA'S VINEYARD

$9,407,185

490.1

57%

42

88.29%

43%

1,088

69.00%

MA NANTUCKET

$9,441,000

389.0

22%

68 100.00%

78%

481

88.13%

NH

NEW HAMPSHIRE

$3,942,873

948.2

20%

85

97.76%

80%

1,164

72.68%

NJ

MORRISTOWN + ESSEX

$4,343,100

691.6

22%

74

84.05%

78%

868

69.34%

NY

HAMPTONS

$24,556,612

706.7

14%

167

87.44%

86%

797

60.65%

NY

NEW YORK

$41,470,830

425.9

30%

135

97.78%

70%

551

85.24%

NY

WESTCHESTER COUNTY

$13,340,000

342.6

50%

138 105.47%

50%

547

84.32%

PA

PHILADELPHIA

$4,692,500

411.4

30%

110

98.19%

70%

540

80.18%

RI

RHODE ISLAND

$5,554,400

638.5

25%

153

66.58%

75%

801

75.03%

VT

VERMONT

$3,593,500

559.9

40%

87

95.49%

60%

876

66.36%

$10,629,985

529.6

33%

98

92.59%

67%

738

76.70%

MA BOSTON MA CAPE COD

NORTH MARKET AVERAGE

51 | LU X U R Y H O M E S I N D E X

Includes Sales Price (SP), Days On Market (DOM), and Percent of Original List Price (OLP) achieved.

ST

MARKET

AVG SALE PRICE

AVG DOM

SOUTH

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

FL

BOCA RATON + DELRAY BEACH + HIGHLAND BEACH

FL

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

$13,094,116

657.4

22%

139

81.76%

78%

806

82.59%

BROWARD COUNTY

$8,971,462

605.1

20%

41

79.77%

80%

746

82.37%

FL

DUVAL + ST. JOHNS COUNTIES

$5,087,500

309.8

80%

91

93.67%

20%

1,186

81.32%

FL

MIAMI

$20,540,000

502.3

22%

67

77.04%

78%

627

67.74%

FL

NAPLES

$18,026,362

534.4

33%

99

94.85%

67%

752

83.48%

FL

PALM BEACH (PROPER)

$25,673,308

574.6

10%

155

80.79%

90%

621

72.72%

FL

SARASOTA + MANATEE COUNTIES

$6,141,500

1,108.5

40%

78

89.50%

60%

1,796

76.14%

FL

TAMPA

$6,199,900

400.8

40%

46

93.50%

60%

638

78.45%

FL

VERO BEACH

$6,009,750

336.7

44%

55

78.77%

56%

562

88.07%

GA

ATLANTA

$5,745,500

473.0

20%

80

97.21%

80%

571

80.01%

TN

NASHVILLE

$4,642,399

424.8

60%

75

93.77%

40%

950

82.60%

TX

DALLAS

$13,842,712

640.6

30%

79

91.70%

70%

881

63.18%

TX

HOUSTON

$6,423,156

274.6

70%

124

90.38%

30%

626

85.06%

VA

FAIRFAX COUNTY

$11,670,000

368.8

0%

N/A

N/A

100%

369

79.32%

SOUTH MARKET AVERAGE

$10,861,976

515.1

35%

87

87.90%

65%

795

78.79%

OVERALL MARKET AVERAGE

$12,219,014

506.0

38%

84

91.35%

62%

742

78.00%

Fewer than 10 sales were used for some markets because public data was incomplete. † Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

2017 Top Sales: Highest Priced Sales in 40 U.S. Luxury Markets.

ST

MARKET

AVG SALE PRICE

AVG DOM

WEST AZ

PHOENIX

CA

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

$6,212,650

701

10%

6

97.01%

90%

701

80.40%

BEVERLY HILLS

$24,352,500

347

30%

139

79.81%

70%

436

74.80%

CA

BRENTWOOD

$15,200,000

154

80%

114

85.50%

20%

317

72.83%

CA

HOLMBY HILLS + BEL AIR

$24,418,500

251

20%

73

79.84%

80%

296

70.47%

CA

MALIBU

$19,120,095

480

30%

89

96.20%

70%

647

75.36%

CA

ORANGE COUNTY

$20,981,200

589

20%

102

93.99%

80%

711

71.93%

CA

PACIFIC PALISADES

$15,199,500

398

30%

77

99.59%

70%

536

79.32%

CA

PALO ALTO

$9,796,900

180

60%

63

95.63%

40%

355

92.17%

CA

RANCHO SANTA FE

$6,585,000

481

10%

151

85.62%

90%

518

73.66%

CA

SAN DIEGO COUNTY

$4,499,700

614

10%

137

92.87%

90%

667

68.09%

CA

SAN FRANCISCO COUNTY

$12,892,500

55

100%

55 100.13%

0%

N/A

N/A

CA

SONOMA COUNTY

$5,923,150

368

40%

48

95.28%

60%

581

72.38%

CA

WESTLAKE VILLAGE

$5,347,400

537

30%

84

86.49%

70%

732

66.20%

CO

ASPEN

$21,991,100

630

10%

77

98.18%

90%

692

85.42%

CO

DENVER

$5,152,500

371

40%

67

93.16%

60%

573

86.83%

CO

TELLURIDE

$4,802,182

563

33%

64

93.82%

67%

812

87.08%

CO

VAIL

$12,466,000

472

20%

79 100.00%

80%

570

80.09%

NV

LAS VEGAS

$4,938,900

489

30%

52

94.35%

70%

676

77.98%

UT

PARK CITY

$9,630,300

1,039

0%

N/A

N/A

100%

1,039

84.51%

$11,516,850

358

40%

45

97.26%

60%

567

79.42%

$12,051,346

454

32%

80

92.88%

68%

601

77.84%

WA SEATTLE WEST MARKET AVERAGE

Fewer than 10 sales were used for some markets because public data was incomplete. † Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

53 | LU X U R Y H O M E S I N D E X

Includes Sales Price (SP), Days On Market (DOM), and Percent of Original List Price (OLP) achieved.

AVG SALE AVG % OF AVG ST MARKET PRICE DOM SALES DOM HAWAII

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

HI

KAUAI

$7,887,000

357

50%

102

83.99%

50%

612

74.95%

HI

KONA

$11,650,000

315

30%

66

94.91%

70%

422

76.56%

HI

MAUI

$10,985,000

698

10%

30 100.00%

90%

773

74.92%

HI

OAHU

$8,082,800

737

20%

60

95.00%

80%

906

71.39%

HAWAII MARKET AVERAGE

$9,651,200

527

28%

65

93.48%

73%

678

74.46%

NORTH CT

FAIRFIELD COUNTY

CT

GREENWICH

IL

CHICAGO

UNDER 180 DAYS

OVER 180 DAYS

$7,573,500

757

40%

48

95.97%

60%

1,229

72.08%

$16,629,200

478

30%

91

88.14%

70%

644

68.58%

$6,555,800

322

30%

44

96.78%

70%

441

90.33%

MA BOSTON

$5,861,000

241

50%

90

95.35%

50%

392

84.12%

MA CAPE COD

$9,840,900

982

20%

87 103.13%

80%

1,206

75.26%

NY

WESTCHESTER COUNTY

$8,701,335

798

30%

80 100.89%

70%

1,106

62.30%

PA

PHILADELPHIA

$4,958,977

771

0%

N/A

N/A

100%

771

77.48%

NORTH MARKET AVERAGE

$8,588,673

621

29%

73

96.71%

71%

827

75.74%

SOUTH

UNDER 180 DAYS

OVER 180 DAYS

FL

MIAMI

$22,871,100

608

0%

N/A

N/A

100%

608

68.10%

FL

NAPLES

$14,045,000

409

20%

79

79.63%

80%

493

73.08%

FL

PALM BEACH (PROPER)

$28,362,528

476

20%

128

82.54%

80%

563

69.78%

FL

TAMPA

$5,698,925

457

40%

64

94.30%

60%

719

76.55%

FL

VERO BEACH

$6,222,600

926

20%

169

86.14%

80%

1,115

65.40%

GA

ATLANTA

$5,557,582

953

10%

133

91.00%

90%

1,044

64.53%

TN

NASHVILLE

$5,312,364

1,062

40%

97

94.11%

60%

1,704

72.40%

TX

DALLAS

$8,459,500

416

20%

121

81.54%

80%

490

79.96%

TX

HOUSTON

$8,503,500

394

40%

77

95.90%

60%

606

66.03%

SOUTH MARKET AVERAGE

$11,670,344

633

23%

108

88.15%

77%

816

70.65%

OVERALL MARKET AVERAGE

$11,119,638

531

29%

83

92.54%

71%

699

75.45%

2016 Top Sales: Highest Priced Sales in 27 U.S. Luxury Markets.

ST

MARKET

AVG SALE PRICE

AVG DOM

WEST AZ

PHOENIX

CA

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

$7,393,000

690

20%

97

85.26%

80%

838

83.51%

BEVERLY HILLS

$19,730,000

375

60%

88

93.96%

40%

805

67.08%

CA

BRENTWOOD

$12,349,600

345

50%

87

95.34%

50%

603

79.24%

CA

HOLMBY HILLS + BEL AIR

$32,741,600

860

10%

1 100.00%

90%

955

76.02%

CA

MALIBU

$17,205,400

489

30%

81

94.51%

70%

664

85.28%

CA

ORANGE COUNTY

$19,182,258

525

20%

132

82.52%

80%

623

72.15%

CA

PACIFIC PALISADES

$12,779,406

256

50%

85

89.49%

50%

427

78.59%

CA

RANCHO SANTA FE

$6,215,000

434

40%

95

91.99%

60%

661

72.88%

CA

SAN DIEGO COUNTY

$13,910,000

288

50%

11

89.65%

50%

705

84.94%

CA

SAN FRANCISCO COUNTY

$14,544,250

372

60%

49 110.66%

40%

856

79.33%

CA

SONOMA COUNTY

$10,320,700

811

20%

85

87.42%

80%

992

70.20%

CA

WESTLAKE VILLAGE

$4,543,650

572

30%

77

95.56%

70%

784

81.25%

CO

ASPEN

$13,774,000

307

60%

81

94.72%

40%

645

83.51%

CO

TELLURIDE

$5,963,750

1,057

20%

76

97.98%

80%

1,303

77.59%

CO

VAIL

$7,867,388

702

30%

85

84.64%

70%

967

80.16%

NV

LAS VEGAS

$5,262,000

398

40%

150

91.82%

60%

564

73.40%

$7,744,743

569

50%

78

94.31%

50%

1,060

90.15%

$12,442,750

532

38%

80

92.93%

62%

791

78.55%

WA SEATTLE WEST MARKET AVERAGE HAWAII

UNDER 180 DAYS

OVER 180 DAYS

HI

MAUI

$10,472,000

438

20%

41 100.00%

80%

537

71.95%

HI

OAHU

$8,076,969

428

20%

64

89.59%

80%

520

78.79%

HAWAII MARKET AVERAGE

$9,274,485

433

20%

53

94.80%

80%

529

75.37%

55 | LU X U R Y H O M E S I N D E X

Includes Sales Price (SP), Days On Market (DOM), and Percent of Original List Price (OLP) achieved.

ST

MARKET

AVG SALE PRICE

AVG DOM

NORTH CT

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

GREENWICH

MA BOSTON NORTH MARKET AVERAGE

% OF SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

$11,447,888

665

22%

131

96.67%

78%

818

66.11%

$5,108,000

287

40%

99

95.75%

60%

413

85.57%

$8,277,944

476

31%

115

96.21%

69%

616

75.84%

SOUTH

UNDER 180 DAYS

OVER 180 DAYS

FL

MIAMI

$14,998,960

497

40%

66

85.22%

60%

794

64.64%

FL

PALM BEACH (PROPER)

$24,894,801

451

50%

76

91.17%

50%

827

84.24%

FL

VERO BEACH

$6,412,000

807

20%

97

95.34%

80%

984

72.75%

GA

ATLANTA

$5,832,800

532

40%

115

90.71%

60%

811

69.64%

TN

NASHVILLE

$3,388,400

585

40%

47

97.82%

60%

944

87.15%

TX

DALLAS

$8,090,200

724

10%

63

98.16%

90%

797

74.62%

SOUTH MARKET AVERAGE

$10,602,860

599

33%

77

93.07%

67%

860

75.51%

OVERALL MARKET AVERAGE

$11,490,695

536

35%

80

93.34%

65%

774

77.43%

Fewer than 10 sales were used for some markets because public data was incomplete. † Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

2015 Top Sales: Highest Priced Sales in 27 U.S. Luxury Markets.

ST

MARKET

AVG SALE PRICE

AVG DOM

WEST AZ

PHOENIX

CA

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

$7,344,769

604

20%

69

88.45%

80%

738

82.69%

BEVERLY HILLS

$25,117,000

188

80%

86

87.85%

20%

598

63.97%

CA

BRENTWOOD

$13,381,166

173

60%

82

94.67%

40%

310

84.53%

CA

HOLMBY HILLS + BEL AIR

$24,536,155

683

30%

123

83.40%

70%

922

76.23%

CA

MALIBU

$14,413,750

471

33%

57

95.32%

67%

719

80.49%

CA

ORANGE COUNTY

$16,730,489

348

30%

43

86.04%

70%

478

78.32%

CA

PACIFIC PALISADES

$12,383,946

494

40%

86

94.69%

60%

767

76.75%

CA

RANCHO SANTA FE

$7,525,500

1,040

40%

86

91.69%

60%

1,675

62.89%

CA

SAN DIEGO COUNTY

$12,032,000

795

20%

114

91.37%

80%

965

71.93%

CA

SAN FRANCISCO COUNTY

$16,082,500

579

60%

62

92.12%

40%

1,353

71.63%

CA

SONOMA COUNTY

$10,814,800

432

60%

106

93.71%

40%

922

71.91%

CA

WESTLAKE VILLAGE

$5,685,944

875

30%

124

93.37%

70%

1,197

70.98%

CO

ASPEN

$22,450,981

667

33%

57

95.47%

67%

972

76.06%

CO

TELLURIDE

$6,137,195

977

30%

59

93.27%

70%

1,370

80.91%

CO

VAIL

$11,609,250

735

30%

86

87.91%

70%

909

87.02%

NV

LAS VEGAS

$6,081,000

606

70%

103

87.40%

30%

1,778

53.43%

$8,552,500

739

50%

84

95.07%

50%

1,395

73.27%

$12,992,879

612

42%

84

91.28%

58%

1,004

74.29%

WA SEATTLE WEST MARKET AVERAGE HAWAII

UNDER 180 DAYS

OVER 180 DAYS

HI

MAUI

$10,899,500

522

40%

113

91.38%

60%

795

81.99%

HI

OAHU

$12,037,600

293

50%

88

88.92%

50%

499

69.05%

HAWAII MARKET AVERAGE

$11,468,550

408

45%

101

90.15%

55%

647

75.52%

57 | LU X U R Y H O M E S I N D E X

Includes Sales Price (SP), Days On Market (DOM), and Percent of Original List Price (OLP) achieved.

ST

MARKET

AVG SALE PRICE

AVG DOM

NORTH CT

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

GREENWICH

MA BOSTON NORTH MARKET AVERAGE

% SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

$9,976,667

940

0%

N/A

N/A

100%

940

80.96%

$8,244,500

412

60%

76

92.81%

40%

917

85.53%

$9,110,584

676

30%

38

92.81%

70%

929

83.25%

SOUTH

UNDER 180 DAYS

OVER 180 DAYS

FL

MIAMI

$20,820,011

497

33%

40

92.17%

67%

725

77.63%

FL

PALM BEACH (PROPER)

$20,235,410

428

30%

122

88.91%

70%

559

80.42%

FL

VERO BEACH

$7,241,375

571

30%

112

85.75%

70%

767

76.85%

GA

ATLANTA

$4,248,160

467

50%

106

90.58%

50%

828

78.39%

TN

NASHVILLE

$3,662,400

852

30%

53

98.33%

70%

1,194

71.63%

TX

DALLAS

$9,122,222

479

44%

150

80.67%

56%

742

82.78%

SOUTH MARKET AVERAGE

$10,888,263

549

36%

97

89.40%

64%

803

77.95%

OVERALL MARKET AVERAGE

$12,124,696

588

40%

85

90.82%

60%

927

75.86%

Fewer than 10 sales were used for some markets because public data was incomplete. † Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

58 | LU X U R Y H O M E S I N D E X

09

ANNUAL CHANGE 2015-2020

59 | LU X U R Y H O M E S I N D E X

2015-2020 Annual Change: Highest Priced Sales in 27 U.S. Luxury Markets

ST

MARKET

2015– 2016

WEST

2016– 2017

2017– 2018

2018– 2019

20192020

2015– 2020

2015– 2016

% CHANGE AVERAGE SALE PRICE

AZ

PHOENIX

0.66% -15.97%

CA

BEVERLY HILLS

-21.45%

CA

BRENTWOOD

-7.71%

CA

HOLMBY HILLS + BEL AIR

33.44% -25.42%

2016– 2017

2017– 2018

20192020

2015– 2020

% CHANGE AVERAGE DOM

47.72%

23.49%

18.3%

92.9%

14.24%

1.59%

23.43%

-6.16%

38.67%

6.3%

34.1%

99.47%

-7.47%

-6.46%

23.08%

22.27%

9.54%

6.9%

62.7%

99.42% -55.36%

11.50% 132.21%

-56.6%

12.0%

25.92% -70.81%

-50.74%

94.4%

CA† LAKE TAHOE

2018– 2019

109.4%

14.7%

14.48%

11.6%

120.5%

6.10%

5.81%

66.5%

66.7%

-9.84%

18.77%

88.8%

-25.6%

-18.77%

2.6%

2.13% -35.84%

104.4%

11.7%

12.19% -10.36% -36.99%

30.0%

24.4%

55.47%

-0.85% -37.33%

51.4%

-24.4%

-52.50% 115.20%

12.5%

CA

MALIBU

19.37%

11.13%

10.05%

24.76%

-25.1%

32.4%

3.82%

CA

ORANGE COUNTY

14.65%

9.38%

25.32%

-3.99%

-0.5%

50.2%

50.86%

CA

PACIFIC PALISADES

3.19%

18.94%

1.31% -22.48%

0.8%

CA

PALO ALTO

25.68% -22.54%

29.4%

CA

RANCHO SANTA FE

34.64% -14.91%

55.7%

56.1% -58.27%

10.83%

37.28% -49.33%

59.1%

-48.7%

CA

SAN DIEGO COUNTY

15.61% -67.65% 270.79% -10.04%

33.9%

67.1% -63.77% 113.19%

28.19% -53.46%

60.9%

-25.9%

CA

SAN FRANCISCO COUNTY

-9.56% -11.36%

-3.21%

13.6%

8.6% -35.75% -85.22%

59.76%

5.5%

-70.1%

CA

SANTA BARBARA

39.76%

71.5%

-52.27%

123.1%

CA

SONOMA COUNTY

47.74%

-27.5%

87.73% -54.62% -33.78% -33.52%

-46.9%

-80.0%

CA

WESTLAKE VILLAGE

-20.09%

17.69%

-0.56% -54.92%

154.8%

253.0%

-32.3%

CO

ASPEN

-38.65%

59.66% -24.53%

13.45%

48.1%

33.69%

47.1%

18.1%

CO

DENVER

20.15%

2.12%

-25.3%

-45.85% 159.97%

-77.2%

CO

TELLURIDE

25.52%

10.28%

25.5%

36.0%

8.19% -46.74%

42.81% -27.35%

-53.8%

-72.4%

CO

VAIL

19.80%

-1.58%

32.6%

67.9%

-4.49% -32.76%

18.46% -49.05%

130.9%

-10.4%

ID

SUN VALLEY

-10.15%

-1.6%

-30.83%

7.6%

NV

LAS VEGAS

62.99% -13.79%

30.1%

22.86% 108.51% -54.55%

17.1%

UT

PARK CITY

-56.76%

89.07%

-55.4%

WA SEATTLE WEST MARKET AVERAGE

-17.41%

5.95%

-4.57% -42.61%

-2.83% -19.48% -32.23%

-13.47%

58.45%

-6.14%

23.17%

6.38%

-16.81%

48.61%

7.5%

-2.8% -48.18%

-37.5%

7.4% -34.63%

-1.84%

2.71% -52.83%

86.87%

-6.12% -47.54% -40.54%

24.2% -53.97% 105.21% -36.51%

48.5% -34.32%

-10.4%

-9.44%

48.71%

15.95% -19.72%

83.6%

130.2% -23.00% -37.08%

30.28% -55.96%

60.5%

-55.5%

-3.76%

-2.85%

14.63%

25.1%

40.6% -14.05% -16.54%

4.28% -24.41%

43.9%

-11.8%

12.49%

2015-2020: Annual Change (Cont.)

ST

MARKET

2015– 2016

HAWAII

2016– 2017

2017– 2018

2018– 2019

20192020

2015– 2020

2015– 2016

% CHANGE AVERAGE SALE PRICE

2016– 2017

2017– 2018

2018– 2019

20192020

2015– 2020

% CHANGE AVERAGE DOM

HI

KAUAI

80.46% -52.96%

116.3%

79.19%

-5.80%

79.3%

HI

KONA

-1.88%

14.31%

-35.7%

-35.56%

59.82%

96.9%

HI

MAUI

-3.92%

8.85%

-9.88%

18.1%

59.36%

-3.47%

36.87%

-16.2%

48.1%

HI

OAHU

-32.90%

0.07% 103.33% -33.33%

-26.3%

-32.9%

46.08%

72.20%

33.05% -42.86%

-21.8%

49.3%

HAWAII MARKET AVERAGE

-19.13%

4.06%

18.1%

-8.1%

6.13%

21.71%

16.70%

2.11%

34.6%

48.7%

-7.33% -23.28%

-29.9%

4.90%

40.02% -23.24%

16.7% -16.09%

NORTH CT

FAIRFIELD COUNTY

-53.05%

42.79%

102.2%

CT

GREENWICH

45.26% -22.77%

41.55%

3.2%

IL

CHICAGO

23.04% -38.28%

16.7%

14.74% -21.98% 161.21%

-14.1%

24.5% -30.34% -16.03% -12.03%

21.96%

46.3%

1.79%

1.9%

-32.47%

38.83%

-64.0%

MA MARTHA'S VINEYARD

46.73%

-22.9%

12.77%

41.8%

MA NANTUCKET

41.73%

34.8%

4.37%

3.4%

NH

NEW HAMPSHIRE

11.78%

39.5%

-42.53%

-44.8%

NJ

MORRISTOWN + ESSEX

-5.48%

-38.4%

-35.71%

-36.4%

NY

HAMPTONS

5.08%

61.4%

19.82%

4.7%

NY

NEW YORK

57.63%

0.3%

185.98%

NY

WESTCHESTER COUNTY

53.31% -53.38%

14.3%

PA

PHILADELPHIA

-5.37%

RI

RHODE ISLAND

VT

VERMONT

MA BOSTON

14.75%

-38.04%

MA CAPE COD

NORTH MARKET AVERAGE

2.33%

-10.52%

5.89%

23.77%

88.0% -29.26% -28.12%

13.56%

13.27%

-0.7%

-31.61% 112.40%

64.1%

-57.06%

4.55%

72.6%

-4.21%

-54.8%

-46.69% -40.72%

9.4%

25.14%

41.0%

-25.80%

60.8%

-22.30%

159.8%

-18.79%

-45.3%

24.03%

23.0%

-4.17%

15.2%

56.3% -29.61%

33.26% -14.98%

-35.0%

-8.0%

-21.5%

61 | LU X U R Y H O M E S I N D E X

Includes Sales Price (SP), Days On Market (DOM), and Percent of Original List Price (OLP) achieved.

ST

2015– 2016

MARKET

SOUTH

2016– 2017

2017– 2018

2018– 2019

20192020

2015– 2020

2015– 2016

% CHANGE AVERAGE SALE PRICE

2016– 2017

2017– 2018

2018– 2019

20192020

% CHANGE AVERAGE DOM

FL

BOCA RATON + DELRAY BEACH + HIGHLAND BEACH

-2.14%

23.5%

-17.51%

-1.5%

FL

BROWARD COUNTY

21.46%

40.0%

-19.05%

-22.0%

FL

DUVAL + ST. JOHNS COUNTIES

10.67%

23.7%

31.63%

-7.4%

FL

MIAMI

52.48% -10.19%

16.55%

13.9%

22.33% -17.38% -14.53%

14.9%

FL

NAPLES

28.35%

9.37%

-24.7%

30.67% -10.71%

34.0%

FL

PALM BEACH (PROPER)

-9.48%

-2.50%

92.9%

FL

SARASOTA + MANATEE COUNTIES

38.69%

FL

TAMPA

8.79% -21.47%

FL

VERO BEACH

GA

-27.96%

23.03%

13.93%

2015– 2020

31.0%

132.6%

0.00%

5.37%

5.54%

20.71%

22.33%

-22.3%

23.5%

-34.71%

-27.9%

59.5%

-12.30% -43.46%

87.2%

-0.9%

84.2%

-11.45%

-2.95%

-3.42%

-1.46%

28.8%

5.4%

41.33%

14.75% -63.64% 253.50%

-41.3%

22.4%

ATLANTA

37.30%

-4.72%

3.38%

21.34%

38.6%

127.5%

13.92%

79.14% -50.37% -16.72%

62.2%

36.8%

TN

NASHVILLE

-7.48%

56.78% -12.61%

54.77%

-11.3%

9.15%

-14.0%

-53.1%

TX

DALLAS

63.64% -47.62%

13.0%

53.99% -50.55%

72.2%

13.9%

TX

HOUSTON

VA

FAIRFAX COUNTY

-11.31%

4.56%

-24.46%

-9.15%

21.3%

-47.96%

24.9%

74.0% -31.34% -10.2%

51.15% -42.54%

-30.30%

SOUTH MARKET AVERAGE

-1.35%

10.48%

-7.27%

-0.93%

26.3%

60.0%

8.71%

OVERALL MARKET AVERAGE

-4.75%

-3.01%

9.63%

9.37%

24.3%

42.5%

-9.48%

Fewer than 10 sales were used for some markets because public data was incomplete. † Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

81.54% -60.00%

33.61%

-21.3%

9.71%

6.2%

-0.77%

8.5%

17.2%

-3.99% -10.69%

24.5%

-1.6%

5.68% -17.69% -1.68%

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