Concierge Auctions 2020 Luxury Homes Index by Concierge Auctions

INDEX 2020 LUXURY HOMES | VOL 04

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 Marthaâ&#x20AC;&#x2122;s Vineyard Maui Miami Nantucket Naples Nashville New Hampshire New York Northern NJ Oahu Orange County Pacific Palisades Palm Beach Palo Alto Park City Philadelphia Phoenix Rancho Santa Fe Rhode Island San Diego San Francisco Santa Barbara Sarasota Seattle Sonoma Sun Valley Tampa Telluride Vail Vermont Vero Beach Westchester Westlake Village

F I N A L S A L E P R I C E | D AYS O N M A R K E T | P E R C E N T O F L I S T P R I C E

PRESS INQUIRIES: Concierge Auctions inquiries@conciergeauctions.com 212.658.1404

CONTENTS

THE BIG QUESTION

THE LUXURY LANDSCAPE

THE COST OF DAYS ON MARKET

LUXURY MARKETS, DEFINED

FINAL SALE PRICE

DAYS ON MARKET

PERCENT OF LIST PRICE

2019 TOP SALES

2018 TOP SALES

2017 TOP SALES

2016 TOP SALES

2015 TOP SALES

ANNUAL CHANGE

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

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. Each year, Concierge Auctions researches and provides insights into the most expensive property sales in the most desirable markets in the United States. DATA AND METHODOLOGY The fourth 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 sale price. Data was compiled by the Concierge Auctions team from multiple listing services (MLS) and public property records.

LU X U RY H O M E S I N D E X | 2

FINAL SALE PRICE D AYS O N MARKET PERCENT OF LIST PRICE

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

In todayâ&#x20AC;&#x2122;s real estate market, there is limited liquidity for luxury.

LU X U RY H O M E S I N D E X | 4

THE LUXURY LANDSCAPE IN THE ULTRA-LUXURY REALM, THE BUYER POOL IS LIMITED.

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

Luxury properties are difficult to value and

help determine how quickly a property will sell.

sell. The buyer pool is small and often spread over a large geographic range. Moreover, price

THE RESULT?

has little bearing on demand, multiple buyers

It can take time for a luxury property seller

donâ&#x20AC;&#x2122;t always arrive at once. Price reductions

to find the right buyer. There is a point of

undermine the value of a property and may

inflection where real estate turns from

cause buyers to sit back and wait, hoping that

necessary to discretionary. Similar to other

the price will drop again.

luxury consumption, once a home has been enjoyed and highly customized to its owner, it

Individual luxury real estate markets are

may be worth significantly less to the buyer.

subject to variables that may be independent

High-end real estate acts the same wayâ&#x20AC;&#x201D;plus,

it is static in location.

the

national

real

estate

landscape.

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

THE COST OF DAYS ON MARKET DAYS ON MARKET ARE EXPENSIVE AND DIRECTLY CORRELATE WITH PERCEIVED VALUE.

This is especially true in markets with a high

Our research continues to indicate that the

history is more readily available than ever.

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

level of second homes. Today, information about your propertyâ&#x20AC;&#x2122;s Buyers can clearly see the full history of a property, including total Days On Market; any time it has been de-listed

Every day a luxury property is marketed for

and re-listed; price reductions; and every

sale, it depreciates in value. When a property

listing agent hired. A home that has been

has been on the market for a prolonged

on the market for a significant amount of

period of time, not only does it suffer from

time and has seen multiple price reductions

negative perception, but there is an inherent

will often sell for a fraction of the original

cost associated with the accumulated days.

list price.

LU X U RY H O M E S I N D E X | 6

INDEX MARKETS WEST Aspen, CO Beverly Hills, CA Brentwood, CA Denver, CO Holmby Hills + Bel Air, CA Lake Tahoe, CA/NV Las Vegas, NV Malibu, CA Orange County, CA Pacific Palisades, CA Palo Alto, CA Park City, UT

Phoenix (Greater Area), AZ Rancho Santa Fe, CA San Diego County, CA San Francisco County, CA Santa Barbara, CA Seattle, WA Sonoma County, CA Sun Valley, ID Telluride, CO Vail, CO Westlake Village, CA

HAWAII Kauai, HI Kona, HI

Maui, HI Oahu, HI

NORTH

Aspen

Boston, MA Cape Cod, MA Chicago, IL Fairfield County, CT Greenwich, CT Hamptons, NY Martha’s Vineyard, MA Kona Nantucket, MA

Atlanta

Lake Tahoe

Phoenix

Beverly Hills

Las Vegas

Rancho Santa Fe

Boca Raton

Malibu

Rhode Island

Boston

Martha’s Vineyard

San Diego

Brentwood

Maui

San Francisco

Broward County

Miami

Santa Barbara

Cape Cod

Nantucket

Sarasota

Chicago

Naples

Seattle

SOUTH Nashville

Sonoma

INDEX MARKETS

Dallas

New Hampshire New York, NY Morristown + Essex, NJ Philadelphia, PA Rhode Island Vermont Westchester County, NY Philadelphia

Greenwich

Atlanta, GA Boca Raton + Delray Beach + Highland New York Beach, FL BrowardNJ County, FL Northern Dallas, TX Oahu Duval + St. Johns Counties, FL Orange FairfaxCounty County, VA

Hamptons

Pacific Palisades

Vero Beach

Holmby/Bel Air

Palm Beach

Westchester

Houston

Palo Alto

Westlake Village

Kauai

Park City

Denver Duval/St Johns Fairfax Fairfield County

New Hampshire

Houston, TX Sun Valley/Ketchum Miami, FL Naples, FL Tampa Nashville, TN PalmTelluride Beach (Proper), FL Sarasota + Manatee Vail Counties, FL Tampa, FL VeroVermont Beach, FL

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

FINAL SALE PRICE 2019 Findings

The average price of the top sales in the 56 luxury markets evaluated in 2019 was $13,364,312, relatively on par with 2018, at $12,219,014. Westlake Village, California was the lowest, at $2,397,170. New York, New York was the highest, at $65,371,204, followed closely by Holmby/Bel Air, California at $63,225,000. By contrast, according to the National Association of Realtors®, the median home price for all housing types in December 2019 was $274,500—up 8.24 percent from $253,600 in 2018. This was higher than the 2.9 percent increase from 2017–2018, as the overall rate of price increases climbed nationwide.

LU X U RY H O M E S I N D E X | 1 0

LO W E S T AV E R A G E We s t l a ke V i l l a g e , C A : $2,397,170 H I G H E S T AV E R A G E N e w Yo r k , N Y: $65,371,204

$14,000,000

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

$13,000,000

$12,000,000

$11,000,000

$10,000,000

2015

2016

2017

2018

2019

1 1 | LU X U R Y H O M E S I N D E X

SALE PRICE: HOT

HOLMBY HILLS /BEL AIR Average sale price jumps $36 million in 2019, a 132% increase from 2018

Created by Oliver Gomez from the Noun Project

Holmby Hills/Bel Air, California not only ranks second in highest average sale price, but the market also saw the second-highest increase in 2019 from 2018, jumping a whopping $36 millionâ&#x20AC;&#x201D;from $27,227,250 to $63,225,000, respectivelyâ&#x20AC;&#x201D;a 132% difference.

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

$80,000,000

$60,000,000

$40,000,000

$20,000,000

2015

2016

2017

2018

2019

LU X U RY H O M E S I N D E X | 1 2

BOSTON Average sale price rises 161%, the most of all other markets

Created by Oliver Gomez from the Noun Project

In 2019, Boston, Massachusetts experienced the biggest increase in average sale price for the top sales, with an increase of over 161%â&#x20AC;&#x201D;from $4,572,914 in 2018 to $11,944,692 in 2019, the highest in the last four years.

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

$12,000,000

$9,000,000

$6,000,000

$3,000,000

2015

2016

2017

2018

2019

1 3 | LU X U R Y H O M E S I N D E X

SALE PRICE: COLD

WESTLAKE VILLAGE Average sale price is lowest and the largest drop of all 56 luxury U.S. markets analyzed

Created by ProSymbols from the Noun Project

The average sale price of the top sales in Westlake Village, California saw a sharp decline in 2019, from $5,317,500 in 2018 to $2,397,170â&#x20AC;&#x201D;the lowest the market has seen in the last four consecutive years. The 55% decrease is also the largest drop in 2019 of all 56 luxury U.S. markets analyzed.

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

2015

2016

2017

2018

2019

LU X U RY H O M E S I N D E X | 1 4

KAUAI Average sale price decreases 53%, the lowest in the last two years

Created by ProSymbols from the Noun Project

The average sale price for the top 10 sales in Kauai, Hawaii rose 80% in 2018 to $14,232,940 from $7,887,000 in 2017, but declined again in 2019 to just $6,694,542â&#x20AC;&#x201D;a decrease of 53%â&#x20AC;&#x201D;and the lowest in the last two years.

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

2017

2018

2019

-54% $2M !%#

!&#

-48% $4M

-42% $6M-36%

-30% $8M

FL SEATTLE, WA CAPE COD, MA =1@/3=O;<3#B1Q/391IO/3`=-3X3UD3P7;/Pa LAKE TAHOE (CA & NV)

-24% $10M -18% !++#

FE, CA AREA), AZ

-12% $12M !+$#

!+%#

-6% $14M 0% !+&#

[=JR5/F49-:. HAMPTONS,

SAN FRANCISCO COUNTY, CA 41C3A01C87P8O3=O:CHE<3=-

MA 41C3K7/2O3=O:CHE<3=DENVER, SAN DIEGO COCOUNTY, CA

!+"#

B=R3-B/P9-UM CAPE COD, L3Fa389-BC

AVERAGE: $13,364,312

$12M

D175<3=> VAIL, CO

[/E45/F9-]^

ID SAN DIEGO COUNTY, CA HOUSTON, TX [O813N1HOC3c3K/501E3[/18I<3T72I51C;3[/18I<3AB BOCA RATON/DELRAY/HIGHLAND, FL GOC1<3TJ KONA, HI :/85738F-:T-0U/88@45/VF-W-X443Y1 NORTHERN NJ (MORRISTOWN + ESSEX)-D\g3!+$<$'%<$+" ORANGE COUNTY, C8=FN3-B/EF5G9-BM U1CH:8Q/H<3#NANTUCKET, MA CA Q7@A=P3AR7@=9-QM PHILADELPHIA, PA PALM BEACH (PROPER), FL Q=AJ-<3=67-0Q8/R3819->? #10HI1eP3D7C/E10;<3#MARTHA’S VINEYARD, MA CA D=F->8=F6@46/-B/EF5G9-BM SAN FRANCISCO COUNTY, ;=@A9-BC VAIL, CO </6=-O=5/F-W-L3A8=G-<3=679-[@N7A=FP-<3=679->? BOCA RATON/DELRAY/HIGHLAND, FL ;38/-<3=679->? VERO BEACH, FL

% YoY Change Avg Sale Price (2018-2019) FINAL

DEF-;=AA3GHI3567EJ9-KL SUN VALLEY/KETCHUM, D=F-L@3N/-B/EF5G9-BM

$10M

PARK CITY, UT 610Q3=7HE<3R9 PACIFIC PALISADES, CA 6187S836157P1;/P<3=BOSTON, U=E@9-[K MAUI, HI MA [OPHOC<3#-

LAS VEGAS, NV 6IO/C7_3`\0/1H/03-0/1a<3-b PHOENIX (GREATER ?=4-;3N=49-:;

O=F67/-D=F5=->39-BM OAHU, RANCHO HI SANTE

!+,#

SEATTLE, WA 4/1L5/<3M#1:7<3TJ MAUI, HI [0OV10;3=O:CHE<3AB BROWARD COUNTY, FL >1I:<3TJ

!*#

D3=bA39-2M

$8M

TAMPA, ]=JR=9->?

PACIFIC PALISADES, CA

!)#

Q=A/-MA5/9-BM PALO ALTO, CA SONOMA COUNTY, CA 4OCO?13=O:CHE<3=-

!(#

Q=6@S6-Q=A@4=P349-BM 615O3-5HO<3=PALO ALTO, CA VERMONT ;38J/F5

$6M

4101POH1<3AB SARASOTA, FL

!'#

DALLAS, TX RANCHO SANTA FE

4:C3D155/EFG/H8I:?<3JK SUN VALLEY/KETCHUM, ID K:.153X34H3YOICP3=O:CZ/P<3AB DUVAL & ST JOHNS COUNTIES, FL TO:PHOC<39W HOUSTON, TX D/0O3[/18I<3AB VERO BEACH, FL A170f1_<3DCHICAGO,VA IL B7@6=N/9-K? FAIRFAX, M/PH8I/PH/0<3U] WESTCHESTER, NY K/C./0<3=> DENVER, CO 9/55:07;/<3=> G1:17<3TJ TELLURIDE, CO B1P3D/21P<3UD KAUAI, HI NIO;/3JP51C; LAS VEGAS, NV U1PI.755/<39U RHODE ISLAND C=7E9-[K OAHU, HI -H51CH1<3\NASHVILLE, TN K1551P<39W ATLANTA, GA N1C8IO341CH13A/<3=-

NEW HAMPSHIRE U/V3T1?@PI70/ 6I751;/5@I71<36PHILADELPHIA, PA 91?@1<3AB TAMPA, FL =I7812O<3JB CHICAGO, IL A170S/5;3=O:CHE<3=9 FAIRFIELD COUNTY, CT

$4M

AVERAGE: $13,364,312

!$#

L=AA=49-]^ DALLAS, TX >=@8`=Y9-;M FAIRFAX, VA

& NV)

$2M

NORTHERN NJ (MORRISTOWN + ESSEX) UO0HI/0C3UY3`#O007PHOVC3c3dPP/_a

?=Z3-]=7/3-0BM-f-:;-4@P341 LAKE TAHOE (CA

VILLAGE, CA

!"#

I=E=@9-[K KAUAI, HI D/0?OCH VERMONT 234567345389-:. WESTCHESTER,

2345A=Z3-;@AA=N39-BM WESTLAKE VILLAGE, M/PH51Q/3D75512/<3=-

SAN FRANCISCO COUNTY, CA 41C3A01C87P8O3=O:CHE<3=-

41C3K7/2O3=O:CHE<3=SAN DIEGO COUNTY, CA

D175<3=> VAIL, CO

#10HI1eP3D7C/E10;<3#MARTHA’S VINEYARD, MA

U1CH:8Q/H<3#NANTUCKET, MA

GOC1<3TJ KONA, HI

[O813N1HOC3c3K/501E3[/18I<3T72I51C;3[/18I<3AB BOCA RATON/DELRAY/HIGHLAND, FL

PARK CITY, UT 610Q3=7HE<3R9 PACIFIC PALISADES, CA 6187S836157P1;/P<3=BOSTON, [OPHOC<3#- MA

6IO/C7_3`\0/1H/03-0/1a<3-b PHOENIX (GREATER AREA), AZ

OAHU, HI

SEATTLE, WA 4/1L5/<3M#1:7<3TJ MAUI, HI [0OV10;3=O:CHE<3AB BROWARD COUNTY, FL >1I:<3TJ

CAPE COD, MA =1@/3=O;<3#B1Q/391IO/3`=-3X3UD3P7;/Pa LAKE TAHOE (CA & NV)

615O3-5HO<3=PALO ALTO, CA

SONOMA COUNTY, CA 4OCO?13=O:CHE<3=-

4101POH1<3AB SARASOTA, FL

DALLAS, TX RANCHO SANTA FE

4:C3D155/EFG/H8I:?<3JK SUN VALLEY/KETCHUM, ID K:.153X34H3YOICP3=O:CZ/P<3AB DUVAL & ST JOHNS COUNTIES, FL TO:PHOC<39W HOUSTON, TX D/0O3[/18I<3AB VERO BEACH, FL A170f1_<3DFAIRFAX, VA M/PH8I/PH/0<3U] WESTCHESTER, NY K/C./0<3=> DENVER, CO 9/55:07;/<3=> G1:17<3TJ TELLURIDE, CO B1P3D/21P<3UD KAUAI, HI NIO;/3JP51C; LAS VEGAS, NV U1PI.755/<39U RHODE ISLAND -H51CH1<3\NASHVILLE, TN K1551P<39W ATLANTA, GA N1C8IO341CH13A/<3=-

NEW HAMPSHIRE U/V3T1?@PI70/ 6I751;/5@I71<36PHILADELPHIA, PA 91?@1<3AB TAMPA, FL =I7812O<3JB CHICAGO, IL A170S/5;3=O:CHE<3=9 FAIRFIELD COUNTY, CT

-D\g3!+$<$'%<$+"

NORTHERN NJ (MORRISTOWN + ESSEX) UO0HI/0C3UY3`#O007PHOVC3c3dPP/_a

D/0?OCH VERMONT

M/PH51Q/3D75512/<3=WESTLAKE VILLAGE, CA

1 5 | LU X U R Y H O M E S I N D E X

2019 TRENDS:

Average Final Sale Price and % Change (2018-2019)

2019 Avg Sale Price FINAL

$14M

2019 Avg Sale Price FINAL

6% $16M

12%

18% $18M

ASPEN, CO -P@/C<3=>

24% $20M

30%

36% $22M

42% $24M MA CA

48%

MALIBU, CA #157^:<3=-

!")#

NEW YORK, NY BOSTON, MA

HOLMBY/BEL AIR, CA

!"(#

HOLMBY HILLS/BEL AIR, CA

:3V-./8Z9-:. NEW YORK,

!"'#

BEVERLY HILLS, CA

!"&#

:=47a@AA39-]: NASHVLLLE,

$24M

T1?@HOCP<3U] HAMPTONS, NY

615?3[/18I3`60O@/0a<3AB PALM BEACH PARK CITY, UT(PROPER), FL Q=8Z-B@5G9-d] ORANGE COUNTY, CA >01C2/3=O:CHE<3=-

!"%#

SONOMA COUNTY, D/F/J=-B/EF5G9-BM

!"$#

U=857=e4-;@F3G=8P9-UM MARTHAâ&#x20AC;&#x2122;S VINEYARD,

!""#

CT NANTUCKET, MA

!"+#

>=@8S3AP-B/EF5G9-B] FAIRFIELD #71?7<3AB MIAMI, FL COUNTY, CT

$22M

_833FV@679-B] GREENWICH, :=F5E6Z359-UM

$20M

D=F5=-<=8\=8=9-BM SANTA BARBARA,

HILLS, CA SARASOTA, FL CA

AREA), AZ !",#

<3a38AG-[@AA49-BM BEVERLY D=8=4/5=9->?

BRENTWOOD, CA [0/CHVOO;<3=-

RHODE ISLAND O7/P3-K4A=FP U=A@\E9-BM MALIBU, CA

NAPLES, FL U1@5/P<3AB

!+*#

Q7/3F@Y-0_83=538-M83=19-Mc PHOENIX (GREATER

BROWARD COUNTY, FL

!+)#

M5A=F5=9-_M ATLANTA, GA <8/V=8P-B/EF5G9->?

!+(#

MIAMI, FL U@=J@9->? \0//CV78I<3=9 GREENWICH,

CO SANTA BARBARA, CA 41CH13[10^101<3=-

M4R3F9-BC ASPEN,

I/F=9-[K KONA,

M;_h-+i+,$

$18M

54% $32M 60% $62M $66M $26M

161.21%

!+'#

FL BRENTWOOD, CA <83F5V//P9-BM ]3AAE8@P39-BC TELLURIDE, CO LEa=A-f-D5-T/7F4-B/EFg349->? DUVAL + ST JOHNS COUNTIES, FL NEW HAMPSHIRE :3V-[=JR47@83

:=RA349->? NAPLES,

$16M

132.21%

AVERAGE: $7.79%

NEW YORK, NY

HOLMBY HILLS/BEL AIR, CA

BEVERLY HILLS, CA

MALIBU, CA #157^:<3=-

T1?@HOCP<3U] HAMPTONS, NY

615?3[/18I3`60O@/0a<3AB PALM BEACH (PROPER), FL ORANGE COUNTY, CA >01C2/3=O:CHE<3=-

#71?7<3AB MIAMI, FL

BRENTWOOD, CA [0/CHVOO;<3=-

NAPLES, FL U1@5/P<3AB

ASPEN, CO -P@/C<3=>

\0//CV78I<3=9 GREENWICH, CT

SANTA BARBARA, CA 41CH13[10^101<3=-

LU X U RY H O M E S I N D E X | 1 6

$26M $32M $62M $66M

!"*# !$,#

1 7 | LU X U R Y H O M E S I N D E X

DAYS ON MARKET 2019 Findings

The average Days On Market for the 56 markets evaluated in 2019 was 451, a slight decrease from 2018 and 2017, at 506 and 531, respectively. The average for properties that were on the market for 180 days or less was 80 days, on par with 2018 and 2017. For those listed for more than 180 days, average Days On Market was 637, just slightly less than in 2018 at 742 days.

1,000

AV E R A G E D O M

800

600

400

200

180 DOM

2015

2016

Market with average DOM â&#x2030;¤180

2017

2018

Market with average DOM >180

2019

All markets

LU X U RY H O M E S I N D E X | 1 8

66.6 percent of properties took more than 6 months to sell; 19 percent took more than 2 years.

< 180 DAYS 180-364 DAYS 365-730 DAYS > 730 DAYS

LO W E S T AV E R A G E S o n o m a C o u n t y, C A : 162 Days H I G H E S T AV E R A G E Ve ro B e a c h , F L : 1,190 Days

1 9 | LU X U R Y H O M E S I N D E X

DAYS ON MARKET: HOT

SONOMA Average Days On Market is lowest of all other markets, dropping 80% since 2016

Created by Oliver Gomez from the Noun Project

In 2019, the top sales in Sonoma, California were on the market an average of 162 total days, making it the lowest of all 56 luxury U.S. markets analyzed. Since 2016, the market has continually seen a rapid decrease of Days On Market, dropping 80% over three years from its 811-day average in 2016.

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

1,200

900

600

300

2015

2016

2017

2018

2019

LU X U RY H O M E S I N D E X | 2 0

SEATTLE Seattle has greatest drop in average Days On Market at 56%

Created by Oliver Gomez from the Noun Project

In 2019, the top 10 sales in Seattle, Washington were listed for an average of 205 total days, making it sixth in lowest Days On Market, behind only Sonoma, San Francisco, Westlake Village, Brentwood, and Palo Alto, California. Compared to 466 days in 2018, the 56% difference is the highest drop in total average Days On Market in 2019 from the year prior of all 56 luxury U.S. market analyzed.

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

800

600

400

200

2015

2016

2017

2018

2019

2 1 | LU X U R Y H O M E S I N D E X

DAYS ON MARKET: COLD

VERO BEACH Properties took more than 3 years to sell; Days On Market see biggest increase at 253%

Created by ProSymbols from the Noun Project

In 2019, Vero Beach, Florida saw the largest increase in Days On Market of all 56 luxury U.S. markets analyzed, at 253%, from an average of 337 total days in 2018 to 1,190 days in 2019. It is the highest in 2019.

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

1,200

900

600

300

2015

2016

2017

2018

2019

LU X U RY H O M E S I N D E X | 2 2

DENVER Average Days On Market nearly triples in 2019 from 2018

Created by ProSymbols from the Noun Project

Properties in Denver, Colorado took nearly three times as long to sell in 2019 than in 2018. Of the top sales in the market, average Days On Market was 522 days in 2019, a 160% increase from only 201 days in 2018.

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

1,200

900

600

300

2017

2018

2019

$4M

-35% (&#

$6M ('# )## )!# )(# ))# )*#

$8M -15% )"# )$# )%# )&# )'# *##

$10M 5% *!# *(# *)# **# *"# *$#

AVERAGE: $13,364,312

AVERAGE: 463 DAYS

440 -12% -6% $14M 520 0% $12M 480

*%# *&#

$12M25% *'# "## "!# "(# ")#

$14M

"*#

SAN FRANCISCO COUNTY, CA

(%#

VAIL, CO

($#

SAN DIEGO COUNTY, CA

("#

HOUSTON, TX MARTHA’S ASPEN, CO VINEYARD, MA MAUI, HI CAP COD, MA

(*#

NANTUCKET, MA COUNTIES, FL DUVAL & ST JOHNS

()#

AVERAGE: $13,364,312

((#

BOCA RATON/DELRAY/HIGHLAND, FL KONA, HI

(!#

360 -24% $10M 400 -18%

PARK CITY, UTAIR, CA HOLMBY/BEL PACIFIC PALISADES, CA HAMPTONS, NY BOSTON, MA BOSTON, MA PALM BEACH (PROPER), FL

(##

NANTUCKET, MA WESTCHESTER, NY CAPE COD, MACA BRENTWOOD, LAKE TAHOE (CA & NV) NASHVILLE, TN SEATTLE, WA FAIRFAX, VA MAUI, HI BROWARD COUNTY, FLMA MARTHA’S VINEYARD, OAHU, HI GREENWICH, CT BEVERLY HILLS, CA AREA), AZ PHOENIX (GREATER

!'#

320 -30% $8M

AVERAGE: 5.29%

-55% !&#

240 -42% $6M 280 -36%

SONOMA COUNTY, CA PALO ALTO, CA

!%#

200 -48% $4M

SARASOTA, FL KAUAI, HI

160 $2M

NAPLES, FL

!$#

SONOMA WESTLAKECOUNTY, VILLAGE,CA CA SAN FRANCISCO COUNTY, CA F.-<@NEEK819+ KAUAI, WESTLAKE WESTLAKE HI VILLAGE, VILLAGE, CA CA VERMONT BRENTWOOD, CA WESTCHESTER, NY

:E<EC/19E;<@=819+ :/<1H./<A6IAE19E;<@=819+

WESTCHESTER, NY

PARK NORTHERN CITY, UT NJ (MORRISTOWN + ESSEX) PACIFIC PALISADES, CA BOSTON, VERMONT MA MAUI, HI P/I15-0/I81M5 SUN M/IB,677-81RM VALLEY/KETCHUM, ID+5_f1*$)12/=I LAS VEGAS, NV 9B6A/0E81DP SAN DIEGO COUNTY, CA NASHVILLE, TN ^BEK-1DI7/<K HOUSTON, CHICAGO, ILTX M/L7-I81HP RHODE ISLAND BOCA RATON/DELRAY/HIGHLAND, FL NAPLES, FL :;<15/77-=>?-@AB;C81D2 KONA, HI F.EN/.K19E;<@=81HP SUN VALLEY/KETCHUM, ID NORTHERN NJ (MORRISTOWN + ESSEX) BROWARD COUNTY, ORANGE COUNTY, NANTUCKET, MA CAFL PHILADELPHIA, PA PALM BEACH (PROPER), FL MARTHA’S VINEYARD, MA CA SAN FRANCISCO COUNTY, VAIL, CO 2-<,-.8193 BOCA RATON/DELRAY/HIGHLAND, FL DENVER, CO VERO BEACH, FL +IL-<8193 ASPEN, VAIL, COCO H/6.b-7K19E;<@=819R FAIRFIELD CT CAPE COD,COUNTY, MA FEA/1^/@E<1c12-7./=1F-/AB81O60B7/<K1F-/AB81HP BOCA/DELRAY/HIGHLAND, FL M-N1O/CLIB6.DENVER, SAN DIEGO COCOUNTY, CA NEW HAMPSHIRE 4/.@B/eI156<-=/.K814+ MARTHA’S VINEYARD SAN FRANCISCO COUNTY, CA 3/B;81OD HAMPTONS, NY 5-.CE<@

ME.@B-.<1MZ1S4E..6I@EN<1c1dII-YU

F-,-.7=1O677I819+

HOUSTON, TX PALO ALTO, CA SONOMA COUNTY, CA SAN DIEGO, CA PACIFIC PALISADES, CA BEVERLY HILLS, PALO ALTO, CA CA VERMONT TAMPA, FL P/Q-1R/BE-1S9+1T1M51I6K-IU LAKE TAHOE SEATTLE, WA (CA & NV) +@7/<@/81_+ ATLANTA, CAPE COD,GA MA H/6.X/Y815+ FAIRFAX, LAKE TAHOE VA (CA & NV) M/<@;AQ-@814+ 2;,/71T1:@1ZEB<I19E;<[-I81HP NANTUCKET, MA SEATTLE, DUVAL & WA ST JOHNS COUNTIES, FL MAUI, HI BROWARD COUNTY, FL 46/C681HP OAHU, RANCHO HI SANTE FE, CA MIAMI, FL NV LAS VEGAS, PHOENIX (GREATER AREA), AZ

OE;I@E<81RV :/<126-0E19E;<@=819+

\-I@AB-I@-.81MW

NEW HAMPSHIRE TAMPA, PHILADELPHIA, FL PA TAMPA, FL CHICAGO, IL JB67/K-7LB6/81J+ PHILADELPHIA, PA CT FAIRFIELD COUNTY, J/A6bA1J/76I/K-I819+ PACIFIC PALISADES, CA SUN VALLEY/KETCHUM, ID FEI@E<814+ BOSTON, MAJOHNS COUNTIES, FL DUVAL & ST HOUSTON, TX OE7CG=>F-71+6.819+ HOLMBY/BEL AIR, CA CA VERO BEACH, AIR, FL HOLMBY/BEL CHICAGO, IL FAIRFAX, VA :/<@/1F/.G/./819+ WESTCHESTER, NYCA SANTA BARBARA, 5/678193 DENVER, VAIL, CO CO TELLURIDE, CO KAUAI, HI LAS VEGAS, NV RHODE ISLAND OAHU, HI 4/76G;819+ NASHVILLE, MALIBU, CA TN 2/77/I81RV ATLANTA, GA DALLAS, TX DALLAS, TX ?E</81OD KONA, HI SANTA FE RANCHO 3./<0-19E;<@=819+ ^/<ABE1:/<@/1H-819+ ORANGE COUNTY, CA JBE-<6Y1S_.-/@-.1+.-/U81+` RANCHO SANTA FE, CA PHOENIX (GREATER AREA), AZ SARASOTA, FL R/CL/81HP

DALLAS, TX SEATTLE, WA FAIRFAX, VA NORTHERN NJ (MORRISTOWN + ESSEX)

:-/]7-81\+

J/7E1+7@E819+

PALO ALTO, CA LAKE TAHOE (CA & NV)

\-I@7/Q-15677/0-819+

2019 Avg DOM FINAL

TAMPA, FL OAHU, HI NJ (MORRISTOWN + ESSEX) NORTHERN NEW HAMPSHIRE NEW HAMPSHIRE PHILADELPHIA, PA WESTLAKE VILLAGE, PHILADELPHIA, PA CA PACIFIC PALISADES, CA TAMPA, FL ORANGE COUNTY, CA CHICAGO, IL MALIBU, CA FAIRFIELD COUNTY, CT NORTHERN NJ (MORRISTOWN + ESSEX) SARASOTA, FL SUN VALLEY/KETCHUM, ID SONOMA COUNTY, DUVAL & ST JOHNS CA COUNTIES, FL SUN VALLEY/KETCHUM, ID HOUSTON, TX VERO BEACH, TELLURIDE, COFL FAIRFAX,ISLAND VA RHODE WESTCHESTER, NY DENVER, FAIRFIELDCO COUNTY, CT TELLURIDE, CO KAUAI, HI COUNTY, FL BROWARD LAS VEGAS, NV VERMONT RHODE ISLAND LAKE TAHOE (CA & NV) NASHVILLE, TN BOCA/DELRAY/HIGHLAND, FL ATLANTA, ATLANTA, GA GA DALLAS, TX MIAMI, FLSANTA FE RANCHO

!"#

SEATTLE, WA LAS VEGAS, NV SAN DIEGO, CA VERMONT SANTA BARBARA, CA PHOENIX (GREATER AREA), AZ DALLAS, TX RANCHO SANTA FE, CA VAIL, CO RANCHO SANTA FE, CA

2 3 | LU X U R Y H O M E S I N D E X

2019 TRENDS:

Average Final Total Days On Market and % Change (2018-2019)

560 6

""# "$#

45%

$16M

$18M 65%

$20M 85% %)# %*# %"# %$# %%# %&# %'#

$22M105% &## &!# &(# &)#

$24M &*# &"# &$# &%# &&# &'# '## '!# '(#

+,-./0-1234 ')# '*# '"# '$#

NEW YORK, NY

%(#

VERO BEACH, FL

%!#

125% $26M $32M $62M $66M

253.50%

%##

HOLMBY HILLS/BEL AIR, CA

$'#

DENVER, CO

$&#

159.97%

$%#

BEVERLY HILLS, CA

$$#

MALIBU, CA

$"#

132.21% 1,190 161.21%

800 42% 48% $24M 840

HAMPTONS, NY

$*#

PALM BEACH (PROPER), FL ORANGE COUNTY, CA

$)#

760 36% $22M

MIAMI, FLALTO, CA PALO

$(#

680 24% 30% $20M 720

CHICAGO, IL

$!#

PARK CITY, UT

$##

BRENTWOOD, CA

"'#

640 18% $18M

NAPLES, FL

"&#

ASPEN, CO

6% 0$16M 600 12%

GREENWICH, CT

"%#

SANTA BARBARA, CA

KONA, HI SAN FRANCISCO COUNTY, CA

AVERAGE: $7.79%

MARTHAâ&#x20AC;&#x2122;S VINEYARD, MA SONOMA COUNTY, CA HAMPTONS, NY PALM BEACH PARK CITY, UT(PROPER), FL ORANGE COUNTY, CA

HOLMBY/BEL AIR, CA VERO BEACH, FL NEW YORK, NY BOSTON, MA

HOLMBY HILLS/BEL AIR, CA

4/;681OD

9/L-19EK814+

NEW YORK, NY CAPE COD, MA MAUI, HI

BEVERLY HILLS, CA

MALIBU, CA NASHVLLLE, TN

HAMPTONS, NY

J/.Q196@=81aR

O/CL@E<I81MW

GREENWICH, CT NANTUCKET, MA FAIRFIELD MIAMI, FL COUNTY, CT

BEVERLY HILLS, CA SARASOTA, FL SANTA BARBARA, CA

SARASOTA, FL

:/./IE@/81HP

PALM BEACH (PROPER), FL BRENTWOOD, CA

J/7C1F-/AB1SJ.EL-.U81HP

PHOENIX (GREATER AREA), AZ NAPLES, FL RHODE ISLAND MALIBU, CA

ASPEN, CO ATLANTA, GA BROWARD COUNTY, FL

MIAMI, FL GREENWICH, CT

_.--<N6AB819R

ASPEN, GREENWICH, CO CT CA SANTA BARBARA, KONA, HI

NAPLES, TELLURIDE, FL CO BRENTWOOD, CA TELLURIDE, CO ?/;/681OD DUVAL + ST JOHNS COUNTIES, FL KAUAI, HI NEW HAMPSHIRE R-77;.6K-8193

OAHU, HI

LU X U RY H O M E S I N D E X | 2 4

880 54% $32M 60% 880$62M $66M $26M

'%# '&# ''# !### !#!# !#

2 5 | LU X U R Y H O M E S I N D E X

PERCENT OF LIST PRICE 2019 Findings

Of the properties evaluated in 2019, 66.6 percent took more than 180 days to sell and achieved 79.53 percent of their list price. The 33.4 percent of homes that sold in under 180 days achieved 92.3% of their list price. This 12.77-percent difference can be substantial when dealing with multimillion dollar properties and does not include carrying costs, property taxes, or other expenditures of both time and money.

LU X U RY H O M E S I N D E X | 2 6

LO W E S T AV E R A G E Fa i r f i e l d C o u n t y, N Y: 65.30% H I G H E S T AV E R A G E Rhode Island: 100.86%

100%

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

90%

80%

70%

60%

50%

2015

2016

Market with average DOM â&#x2030;¤180

2017

Market with average DOM >180

2018

All markets

2019

2 7 | LU X U R Y H O M E S I N D E X

% LIST PRICE: HOT

RHODE ISLAND Top sales achieved highest percent of original list price of all other markets; rises 38%

Created by Oliver Gomez from the Noun Project

In 2019, the top sales in Rhode Island achieved the closest to list price, at an average of 101%. Comparative to 2018, Rhode Island also saw the biggest jump YOY with an increase of 38% in 2019 from only 73% of list price achieved in 2018.

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

100%

75%

50%

25%

2018

2019

LU X U RY H O M E S I N D E X | 2 8

PARK CITY Top sales achieved 96% of original list price in 2019

Created by Oliver Gomez from the Noun Project

The top 10 sales in Park City, Utah achieved 96% of their original list price in 2019, 8% higher than 2018 and 11% higher than 2017.

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

100%

75%

50%

25%

2017

2018

2019

2 9 | LU X U R Y H O M E S I N D E X

% LIST PRICE: COLD

FAIRFIELD COUNTY Top sales achieve just 65% of list price; market is lowest for 2019

Created by ProSymbols from the Noun Project

The top sales in Fairfield County, Connecticut achieved just 65% of their original list price in 2019, the lowest percentage in the past three consecutive years and of all markets analyzed for 2019. This average is 8% lower than in 2018 and 17% than in 2017.

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

100%

75%

50%

25%

2017

2018

2019

LU X U RY H O M E S I N D E X | 3 0

LAS VEGAS Top sales achieve just 70% of list price for second consecutive year

Created by ProSymbols from the Noun Project

The top sales in Las Vegas, Nevada achieved just 70% of their original list price in 2019 for the second consecutive year. This is a 13% drop from 83% in 2017â&#x20AC;&#x201D;the lowest in five years in the market.

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

100%

75%

50%

25%

2015

2016

2017

2018

2019

-20%

-15%

,-./01.2345674

-10%

-5% CA

T70/45<-IR SAN DIEGO COUNTY, 27B-K:4;A-=ADB6F<-=> ASPEN, CO >504B<-=. BEvERLY HILLS, CA G4[4?/F-V://5<-=> 2DB-97//4F1]46JMD@<-WK SUN VALLEY, ID R75-94;75<-T9 LAS VEGAS, NV GA56AB<-U>

&'#

NAPLES, FL

&&#

=M:J7;A<-WR CHICAGO,

74%

N7/@-G47JM-PN?A04?Q<-IR PALM BEACH (PROPER),

NANTUCKET, MA

T75M[://4<-CT NASHVILLE, TN N7J:SJ-N7/:57E45<-=> PACIFIC PALISADES, T7B6DJ846<-U>

&%#

HOLMBY/BEL AIR, CA VA/@HF1G4/->:?<-=> =704-=AE<-U> CAPE COD, MA KD[7/-e-26-aAMB5-=ADBg45<-IR DUVAL + ST JOHNS COUNTIES,

&$#

]AB7<-VW KONA,

&!#

&"#

G?Ab7?E-=ADB6F<-IR BROWARD COUNTY,

&+#

&*#

GREENWICH, CT \?44Bb:JM<-=C MARTHA’S VINEYARD, U7?6M7X5-9:B4F7?E<-U>

&)#

70%

ORANGE COUNTY, .?7B;4-=ADB6F<-=>

%(#

PALO ALTO, N7/A->/6A<-=>

%'#

%&#

27?75A67<-IR SARASOTA,

%%#

FAIRFIELD COUNTY, I7:?S4/E-=ADB6F<-=C

%$#

66%

3456JM4564?<-TZ WESTCHESTER,

%!#

%"#

94?A-G47JM<-IR VERO BEACH,

L.-./;`2V>;;9?2@, BEVERLY HILLS, @0I.2@NG?2W, CAPE COD, MD =./HNK:

VN;HM`5L.;2,>/?2@, HOLMBY/BEL AIR,

COUNTY, FL

GREENWICH, CT

L/NU0/G2@NFK:`?2J7 BROWARD

Q/..KU>AB?2@E

COUNTY, CA

FL 6/0K1.2@NFK:`?2@, ORANGE

W>0H>?2J7 MIAMI,

30/09N:0?2J7 SARASOTA,

V0HI:NK9?2CD HAMPTONS,

W0/:B0f92=>K.`0/G?2W, MARTHA’S VINEYARD,

(PROPER), FL

40;H2L.0AB2P4/NI./R?2J7 PALM BEACH

7092=.109?2C= LAS VEGAS,

COUNTY, CT

=./N2L.0AB?2J7 VERO BEACH,

J0>/T.;G2@NFK:`?2@E FAIRFIELD

3 1 | LU X U R Y H O M E S I N D E X

2019 TRENDS: Average Final % of List Price and % Change (2018-2019)

78%

&(# ')#

-0%

10%

15% ("# (!#

100.86%

94%

($# (%#

20%

RHODE ISLAND

(+#

AREA), AZ

(*#

NMA4B:_-P\?4764?->?47Q<->` PHOENIX (GREATER

()#

90%

K7//75<-CY DALLAS,

'(#

GAJ7-L76AB-c-K4/?7F-G47JM<-V:;M/7BE-G47JM<-IR BOCA/DELRAY/HIGHLAND, FL

''#

I7:?f7_<-9> FAIRFAX, VA

+ ESSEX)

AVERAGE: 83.16%

86%

HAMPTONS, NY V7@06AB5<-TZ TA?6M4?B-Ta-PUA??:56AbB-c-d554_Q NORTHERN NJ (MORRISTOWN

CA C4//D?:E4<-=. TALLURIDE, CO

U7/:HD<-=> MALIBU,

& NV)

'&#

.7MD<-VW OAHU,

'%#

N7?8-=:6F<-OC PARK CITY, UT R784-C7MA4-P=>-e-T9-5:E45Q LAKE TAHOE (CA

'$#

NEW HAMPSHIRE T4b-V7@05M:?4

'!#

U:7@:<-IR MIAMI,

'"#

SONOMA COUNTY, CA 2ABA@7-=ADB6F<-=> 27B67-G7?H7?7<-=> SANTA BARBARA, CA L7BJMA-27B67-I4<-=> RANCHO SANTA FE, CA

'+#

DENVER, CO

3456/784-9://7;4<-=> VERMONT 94?@AB6 PHILADELPHIA, PA NM:/7E4/0M:7<-N> SAN FRANCISCO, CA 27B-I?7BJ:5JA-=ADB6F<-=> U7D:<-VW MAUI, HI >6/7B67<-\> ATLANTA, GA K4B[4?<-=.

WESTLAKE VILLAGE, CA

VAIL, CO 97:/<-=. ]7D7:<-VW KAUAI, HI TAMPA, FL C7@07<-IR

'*#

>9\h-%i(,$

82%

38.32%

AVERAGE: 0.82%

MA HOUSTON, TX 247^/4<-3> SEATTLE, WA G?4B6bAAE<-=> BRENTWOOD, CA

VAD56AB<-CY BOSTON,

VERMONT COUNTY, CA WESTCHESTER, NY

FE, CA

AREA), AZ

,=Qg2'"h*%#

+ ESSEX)

COUNTY, CA

CITY, UT

RHODE ISLAND

40/<2@>:`?2cE PARK

LNA02b0:NK2d2\.;/0`2L.0AB?2V>1B;0KG2L.0AB?2J7 BOCA/DELRAY/HIGHLAND,

3NKNH02@NFK:`?2@, SONOMA

70<.2E0BN.2P@,2]2C=29>G.9R BOSTON, MA LN9:NK?2W,

VILLAGE, CA LAKE TAHOE (CA & NV)

WESTLAKE 8.9:;0<.2=>;;01.?2@,

60BF?2VX OAHU,

FAIRFAX, VA J0>/[0O?2=, 30K2J/0KA>9AN2@NFK:`?2@, SAN FRANCISCO,

3FK2=0;;.`5Y.:ABFH?2X\ SUN VALLEY/KETCHUM,

3.0a;.?28, SEATTLE,

PHILADELPHIA, PA

4B>;0G.;IB>0?24,

VAIL, CO =0>;?2@6 VNF9:NK?2EZ HOUSTON,

BRENTWOOD, CA

ATLANTA, GA E.;;F/>G.?2@6 TELLURIDE, CO L/.K:UNNG?2@,

DUVAL + ST JOHNS COUNTIES, FL

4BN.K>O2PQ/.0:./2,/.0R?2,S PHOENIX (GREATER 40;N2,;:N?2@, E0HI0?2J7 PALO ALTO, CA C0K:FA<.:?2W, TAMPA, FL \F-0;2]23:2^NBK92@NFK_.9?2J7 NANTUCKET, MA ,:;0K:0?2Q,

NASHVILLE, TN DALLAS, TX \0;;09?2EZ MALIBU, CA W0;>MF?2@, MAUI, HI W0F>?2VX NAPLES, FL C0I;.9?2J7

ASPEN, CO ,9I.K?2@6 YNK0?2VX KONA, HI 40A>TA240;>90G.9?2@, PACIFIC PALISADES, C09B->;;.?2EC

CHICAGO, @B>A01N?2X7

DENVER, CO \.K-./?2@6 NEW HAMPSHIRE C.U2V0HI9B>/. SANTA BARBARA, CA 30K:02L0/M0/0?2@,

b0KABN230K:02J.?2@, RANCHO SANTA

NORTHERN NJ (MORRISTOWN CN/:B./K2C^2PWN//>9:NUK2d2e99.OR

Y0F0>?2VX KAUAI,

30K2\>.1N2@NFK:`?2@, SAN DIEGO 8.9:AB.9:./?2CD

LU X U RY H O M E S I N D E X | 3 2

(&# ('# ((#

3 3 | LU X U R Y H O M E S I N D E X

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

PHOENIX

$11,333,000

340

50%

111

87.44%

50%

569

84.67%

BEVERLY HILLS

$31,689,958

372

30%

121

87.59%

70%

479

77.08%

BRENTWOOD

$20,359,089

173

78%

90.69%

22%

485

76.36%

HOLMBY HILLS + BEL AIR

$63,225,000

269

33%

87.84%

67%

373

73.62%

CAâ&#x20AC; LAKE TAHOE

$10,354,500

390

33%

97.77%

67%

562

89.57%

MALIBU

$26,252,000

315

40%

93.08%

60%

475

80.73%

ORANGE COUNTY

$25,246,500

333

44%

104

80,76%

56%

516

70.41%

PACIFIC PALISADES

$11,937,367

247

30%

96.60%

70%

315

79.83%

PALO ALTO

$9,537,500

184

75%

88.21%

25%

511

80.22%

RANCHO SANTA FE

$7,543,967

335

30%

112

95.19%

70%

430

77.66%

SAN DIEGO COUNTY

$15,010,000

366

33%

88.68%

67%

518

76.73%

SAN FRANCISCO COUNTY

$15,370,000

164

70%

96.09%

30%

425

79.77%

SANTA BARBARA

$17,335,000

281

50%

95.02%

50%

505

72.94%

SONOMA COUNTY

$9,309,500

162

60%

103

98.75%

40%

250

88.46%

WESTLAKE VILLAGE

$2,397,170

168

70%

96.56%

30%

401

81.70%

ASPEN

$18,829,500

535

25%

137

91.69%

75%

668

82.27%

DENVER

$6,322,349

522

14%

100

87.60%

86%

593

83.01%

TELLURIDE

$6,647,450

584

N/A

100%

584

87.34%

VAIL

$14,697,400

285

44%

90.42%

56%

482

86.61%

SUN VALLEY

$5,536,300

488

40%

97.18%

60%

757

86.18%

LAS VEGAS

$6,940,075

463

10%

78.13%

90%

505

68.61%

PARK CITY

$11,906,208

850

20%

92.24%

80%

1,043

96.43%

$10,720,500

205

60%

95.66%

40%

454

79.63%

$15,586,971

350

41%

92.38%

59%

540

80.84%

WA SEATTLE WEST MARKET AVERAGE

LU X U RY H O M E S I N D E X | 3 4

Includes sales price (SP), days on market (DOM), and percent of original list price (OLP) achieved

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

KAUAI

$6,694,542

603

N/A

100%

603

81.46%

KONA

$13,067,000

324

57%

82.98%

43%

709

86.93%

MAUI

$10,776,214

922

N/A

100%

922

85.85%

OAHU

$10,956,681

560

33%

90.74%

67%

811

91.77%

$10,373,609

628

21%

86.31%

79%

779

85.98%

HAWAII MARKET AVERAGE NORTH

UNDER 180 DAYS

FAIRFIELD COUNTY

GREENWICH

CHICAGO

OVER 180 DAYS

$5,077.443

538

11%

45 120.54%

89%

600

58.40%

$18,179,000

615

17%

94.18%

83%

726

73.78%

$4,978,367

468

30%

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%

NEW HAMPSHIRE

$4,407,525

545

40%

103

95.39%

60%

840

76.00%

MORRISTOWN + ESSEX

$4,105,000

445

20%

120

95.32%

80%

526

78.44%

HAMPTONS

$25,804,398

847

N/A

100%

847

72.61%

NEW YORK

$65,371,204

1,218

N/A

100%

1,218

44.17%

WESTCHESTER COUNTY

$6,218,540

358

30%

88.65%

70%

474

77.43%

PHILADELPHIA

$4,495,180

244

44%

87.95%

56%

372

89.05%

RHODE ISLAND

$6,951,000

474

44%

136

89.31%

56%

744 110.10%

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. â&#x20AC; Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

3 5 | LU X U R Y H O M E S I N D E X

2019 Top Sales: Continued 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

BOCA RATON + DELRAY BEACH + HIGHLAND BEACH

$12,813,300

542

30%

92.96%

70%

734

96.00%

BROWARD COUNTY

$10,896,503

490

20%

114

84.93%

80%

584

73.29%

DUVAL + ST. JOHNS COUNTIES

$5,630,200

408

44%

96.85%

56%

708

78.13%

MIAMI

$23,938,500

429

22%

109

66.85%

78%

521

76.75%

NAPLES

$19,715,000

477

33%

94.03%

67%

676

82.07%

PALM BEACH (PROPER)

$25,031,345

703

N/A

100%

703

70.73%

SARASOTA + MANATEE COUNTIES

$8,517,500

724

25%

95.44%

75%

942

65.94%

TAMPA

$4,868,500

227

63%

93.88%

38%

445

73.84%

VERO BEACH

$5,922,000

1,190

10%

167

84.62%

90%

1,304

64.57%

ATLANTA

$6,971,526

394

30%

95.50%

70%

531

82.78%

NASHVILLE

$7,185,000

464

33%

92.35%

67%

677

81.32%

DALLAS

$7,251,000

317

40%

92.02%

60%

480

81.45%

HOUSTON

$5,835,400

367

50%

87.88%

50%

663

88.79%

FAIRFAX COUNTY

$6,072,771

405

40%

43 101.66%

60%

646

84.11%

SOUTH MARKET AVERAGE

$10,760,610

517

31%

91.57%

69%

713

77.69%

OVERALL MARKET AVERAGE

$13,364,312

451

33%

92.30%

67%

637

79.53%

Fewer than 10 sales were used for some markets because public data was incomplete. â&#x20AC; Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

LU X U RY H O M E S I N D E X | 3 6

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

MARKET

AVG SALE PRICE

AVG DOM

WEST AZ

PHOENIX

% 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%

98.28%

78%

902

63.65%

BEVERLY HILLS

$22,852,600

324.6

50%

88.54%

50%

586

73.37%

BRENTWOOD

$18,585,175

163.4

60%

93.00%

40%

268

77.60%

HOLMBY HILLS + BEL AIR

$27,227,250

226.3

60%

88.95%

40%

458

74.12%

CAâ&#x20AC; LAKE TAHOE

$21,021,054

480.6

44%

92.15%

56%

791

78.15%

MALIBU

$21,042,500

490.2

30%

137

80.73%

70%

642

75.96%

ORANGE COUNTY

$26,294,500

528.0

30%

112

94.87%

70%

706

76.84%

PACIFIC PALISADES

$15,398,567

394.6

50%

96.65%

50%

712

81.62%

PALO ALTO

$12,313,000

85.5

90%

95.06%

10%

217

94.14%

RANCHO SANTA FE

$8,866,296

660.3

50%

86.33%

50%

1,250

70.80%

SAN DIEGO COUNTY

$16,684,500

787.1

20%

95.86%

80%

970

78.18%

SAN FRANCISCO COUNTY

$15,880,000

102.8

89%

90.90%

11%

281

65.17%

SANTA BARBARA

$12,403,745

589.3

10%

88.02%

90%

645

78.74%

SONOMA COUNTY

$6,301,250

243.7

60%

95.69%

40%

473

81.29%

WESTLAKE VILLAGE

$5,317,500

281.7

60%

94.37%

40%

597

81.80%

ASPEN

$16,596,574

400.0

50%

93.42%

50%

717

77.64%

DENVER

$6,190,883

200.9

70%

80.01%

30%

537

81.85%

TELLURIDE

$6,027,550

804.0

30%

84.47%

70%

1,110

76.27%

VAIL

$14,934,000

559.1

33%

90.53%

67%

804

85.03%

SUN VALLEY

$6,161,790

705.3

N/A

100%

705

91.35%

LAS VEGAS

$8,050,000

1,019.6

20%

46 111.90%

80%

1,263

59.62%

PARK CITY

$8,011,750

449.3

30%

91.39%

70%

606

86.27%

$13,353,450

466.4

50%

96.32%

50%

866

81.33%

$13,856,149

464.5

44%

91.75%

56%

700

77.86%

WA SEATTLE WEST MARKET AVERAGE

3 7 | LU X U R Y H O M E S I N D E X

2018 Top Sales: Continued 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

KAUAI

$14,232,940

639.7

10%

96.00%

90%

711

78.00%

KONA

$11,430,800

203.0

60%

92.68%

40%

478

87.20%

MAUI

$11,957,500

673.8

20%

122

96.97%

80%

812

79.18%

OAHU

$16,434,675

980.6

22%

97.22%

78%

1,246

79.05%

$13,513,979

624.3

28%

95.72%

72%

812

80.86%

HAWAII MARKET AVERAGE NORTH CT

FAIRFIELD COUNTY

GREENWICH

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%

92.07%

60%

862

79.17%

$8,066,363

220.2

60%

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%

88.29%

43%

1,088

69.00%

MA NANTUCKET

$9,441,000

389.0

22%

68 100.00%

78%

481

88.13%

NEW HAMPSHIRE

$3,942,873

948.2

20%

97.76%

80%

1,164

72.68%

MORRISTOWN + ESSEX

$4,343,100

691.6

22%

84.05%

78%

868

69.34%

HAMPTONS

$24,556,612

706.7

14%

167

87.44%

86%

797

60.65%

NEW YORK

$41,470,830

425.9

30%

135

97.78%

70%

551

85.24%

WESTCHESTER COUNTY

$13,340,000

342.6

50%

138 105.47%

50%

547

84.32%

PHILADELPHIA

$4,692,500

411.4

30%

110

98.19%

70%

540

80.18%

RHODE ISLAND

$5,554,400

638.5

25%

153

66.58%

75%

801

75.03%

VERMONT

$3,593,500

559.9

40%

95.49%

60%

876

66.36%

$10,629,985

529.6

33%

92.59%

67%

738

76.70%

MA BOSTON MA CAPE COD

NORTH MARKET AVERAGE

LU X U RY H O M E S I N D E X | 3 8

Includes sales price (SP), days on market (DOM), and percent of original list price (OLP) achieved

MARKET

AVG SALE PRICE

AVG DOM

SOUTH

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

BOCA RATON + DELRAY BEACH + HIGHLAND BEACH

% 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%

79.77%

80%

746

82.37%

DUVAL + ST. JOHNS COUNTIES

$5,087,500

309.8

80%

93.67%

20%

1,186

81.32%

MIAMI

$20,540,000

502.3

22%

77.04%

78%

627

67.74%

NAPLES

$18,026,362

534.4

33%

94.85%

67%

752

83.48%

PALM BEACH (PROPER)

$25,673,308

574.6

10%

155

80.79%

90%

621

72.72%

SARASOTA + MANATEE COUNTIES

$6,141,500

1,108.5

40%

89.50%

60%

1,796

76.14%

TAMPA

$6,199,900

400.8

40%

93.50%

60%

638

78.45%

VERO BEACH

$6,009,750

336.7

44%

78.77%

56%

562

88.07%

ATLANTA

$5,745,500

473.0

20%

97.21%

80%

571

80.01%

NASHVILLE

$4,642,399

424.8

60%

93.77%

40%

950

82.60%

DALLAS

$13,842,712

640.6

30%

91.70%

70%

881

63.18%

HOUSTON

$6,423,156

274.6

70%

124

90.38%

30%

626

85.06%

FAIRFAX COUNTY

$11,670,000

368.8

N/A

100%

369

79.32%

SOUTH MARKET AVERAGE

$10,861,976

515.1

35%

87.90%

65%

795

78.79%

OVERALL MARKET AVERAGE

$12,219,014

506.0

38%

91.35%

62%

742

78.00%

Fewer than 10 sales were used for some markets because public data was incomplete. â&#x20AC; Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

3 9 | LU X U R Y H O M E S I N D E X

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

MARKET

AVG SALE PRICE

AVG DOM

WEST AZ

PHOENIX

% 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%

97.01%

90%

701

80.40%

BEVERLY HILLS

$24,352,500

347

30%

139

79.81%

70%

436

74.80%

BRENTWOOD

$15,200,000

154

80%

114

85.50%

20%

317

72.83%

HOLMBY HILLS + BEL AIR

$24,418,500

251

20%

79.84%

80%

296

70.47%

MALIBU

$19,120,095

480

30%

96.20%

70%

647

75.36%

ORANGE COUNTY

$20,981,200

589

20%

102

93.99%

80%

711

71.93%

PACIFIC PALISADES

$15,199,500

398

30%

99.59%

70%

536

79.32%

PALO ALTO

$9,796,900

180

60%

95.63%

40%

355

92.17%

RANCHO SANTA FE

$6,585,000

481

10%

151

85.62%

90%

518

73.66%

SAN DIEGO COUNTY

$4,499,700

614

10%

137

92.87%

90%

667

68.09%

SAN FRANCISCO COUNTY

$12,892,500

100%

55 100.13%

N/A

SONOMA COUNTY

$5,923,150

368

40%

95.28%

60%

581

72.38%

WESTLAKE VILLAGE

$5,347,400

537

30%

86.49%

70%

732

66.20%

ASPEN

$21,991,100

630

10%

98.18%

90%

692

85.42%

DENVER

$5,152,500

371

40%

93.16%

60%

573

86.83%

TELLURIDE

$4,802,182

563

33%

93.82%

67%

812

87.08%

VAIL

$12,466,000

472

20%

79 100.00%

80%

570

80.09%

LAS VEGAS

$4,938,900

489

30%

94.35%

70%

676

77.98%

PARK CITY

$9,630,300

1,039

N/A

100%

1,039

84.51%

$11,516,850

358

40%

97.26%

60%

567

79.42%

$12,051,346

454

32%

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. â&#x20AC; Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

LU X U RY H O M E S I N D E X | 4 0

Includes sales price (SP), days on market (DOM), and percent of original list price (OLP) achieved

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

KAUAI

$7,887,000

357

50%

102

83.99%

50%

612

74.95%

KONA

$11,650,000

315

30%

94.91%

70%

422

76.56%

MAUI

$10,985,000

698

10%

30 100.00%

90%

773

74.92%

OAHU

$8,082,800

737

20%

95.00%

80%

906

71.39%

HAWAII MARKET AVERAGE

$9,651,200

527

28%

93.48%

73%

678

74.46%

NORTH CT

FAIRFIELD COUNTY

GREENWICH

CHICAGO

UNDER 180 DAYS

OVER 180 DAYS

$7,573,500

757

40%

95.97%

60%

1,229

72.08%

$16,629,200

478

30%

88.14%

70%

644

68.58%

$6,555,800

322

30%

96.78%

70%

441

90.33%

MA BOSTON

$5,861,000

241

50%

95.35%

50%

392

84.12%

MA CAPE COD

$9,840,900

982

20%

87 103.13%

80%

1,206

75.26%

WESTCHESTER COUNTY

$8,701,335

798

30%

80 100.89%

70%

1,106

62.30%

PHILADELPHIA

$4,958,977

771

N/A

100%

771

77.48%

NORTH MARKET AVERAGE

$8,588,673

621

29%

96.71%

71%

827

75.74%

SOUTH

UNDER 180 DAYS

OVER 180 DAYS

MIAMI

$22,871,100

608

N/A

100%

608

68.10%

NAPLES

$14,045,000

409

20%

79.63%

80%

493

73.08%

PALM BEACH (PROPER)

$28,362,528

476

20%

128

82.54%

80%

563

69.78%

TAMPA

$5,698,925

457

40%

94.30%

60%

719

76.55%

VERO BEACH

$6,222,600

926

20%

169

86.14%

80%

1,115

65.40%

ATLANTA

$5,557,582

953

10%

133

91.00%

90%

1,044

64.53%

NASHVILLE

$5,312,364

1,062

40%

94.11%

60%

1,704

72.40%

DALLAS

$8,459,500

416

20%

121

81.54%

80%

490

79.96%

HOUSTON

$8,503,500

394

40%

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%

92.54%

71%

699

75.45%

4 1 | LU X U R Y H O M E S I N D E X

2016 Top Sales: Highest Priced Sales in 27 U.S. Luxury Markets Includes sales price (SP), days on market (DOM), and percent of original list price (OLP) achieved

MARKET

AVG SALE PRICE

AVG DOM

WEST AZ

PHOENIX

% 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%

85.26%

80%

838

83.51%

BEVERLY HILLS

$19,730,000

375

60%

93.96%

40%

805

67.08%

BRENTWOOD

$12,349,600

345

50%

95.34%

50%

603

79.24%

HOLMBY HILLS + BEL AIR

$32,741,600

860

10%

1 100.00%

90%

955

76.02%

MALIBU

$17,205,400

489

30%

94.51%

70%

664

85.28%

ORANGE COUNTY

$19,182,258

525

20%

132

82.52%

80%

623

72.15%

PACIFIC PALISADES

$12,779,406

256

50%

89.49%

50%

427

78.59%

RANCHO SANTA FE

$6,215,000

434

40%

91.99%

60%

661

72.88%

SAN DIEGO COUNTY

$13,910,000

288

50%

89.65%

50%

705

84.94%

SAN FRANCISCO COUNTY

$14,544,250

372

60%

49 110.66%

40%

856

79.33%

SONOMA COUNTY

$10,320,700

811

20%

87.42%

80%

992

70.20%

WESTLAKE VILLAGE

$4,543,650

572

30%

95.56%

70%

784

81.25%

ASPEN

$13,774,000

307

60%

94.72%

40%

645

83.51%

TELLURIDE

$5,963,750

1,057

20%

97.98%

80%

1,303

77.59%

VAIL

$7,867,388

702

30%

84.64%

70%

967

80.16%

LAS VEGAS

$5,262,000

398

40%

150

91.82%

60%

564

73.40%

$7,744,743

569

50%

94.31%

50%

1,060

90.15%

$12,442,750

532

38%

92.93%

62%

791

78.55%

WA SEATTLE WEST MARKET AVERAGE HAWAII

UNDER 180 DAYS

OVER 180 DAYS

MAUI

$10,472,000

438

20%

41 100.00%

80%

537

71.95%

OAHU

$8,076,969

428

20%

89.59%

80%

520

78.79%

HAWAII MARKET AVERAGE

$9,274,485

433

20%

94.80%

80%

529

75.37%

LU X U RY H O M E S I N D E X | 4 2

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%

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

MIAMI

$14,998,960

497

40%

85.22%

60%

794

64.64%

PALM BEACH (PROPER)

$24,894,801

451

50%

91.17%

50%

827

84.24%

VERO BEACH

$6,412,000

807

20%

95.34%

80%

984

72.75%

ATLANTA

$5,832,800

532

40%

115

90.71%

60%

811

69.64%

NASHVILLE

$3,388,400

585

40%

97.82%

60%

944

87.15%

DALLAS

$8,090,200

724

10%

98.16%

90%

797

74.62%

SOUTH MARKET AVERAGE

$10,602,860

599

33%

93.07%

67%

860

75.51%

OVERALL MARKET AVERAGE

$11,490,695

536

35%

93.34%

65%

774

77.43%

Fewer than 10 sales were used for some markets because public data was incomplete. â&#x20AC; Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

4 3 | LU X U R Y H O M E S I N D E X

2015 Top Sales: Highest Priced Sales in 27 U.S. Luxury Markets Includes sales price (SP), days on market (DOM), and percent of original list price (OLP) achieved

MARKET

AVG SALE PRICE

AVG DOM

WEST AZ

PHOENIX

% OF SALES

AVG DOM

AVG SP/OLP

UNDER 180 DAYS

% SALES

AVG DOM

AVG SP/OLP

OVER 180 DAYS

$7,344,769

604

20%

88.45%

80%

738

82.69%

BEVERLY HILLS

$25,117,000

188

80%

87.85%

20%

598

63.97%

BRENTWOOD

$13,381,166

173

60%

94.67%

40%

310

84.53%

HOLMBY HILLS + BEL AIR

$24,536,155

683

30%

123

83.40%

70%

922

76.23%

MALIBU

$14,413,750

471

33%

95.32%

67%

719

80.49%

ORANGE COUNTY

$16,730,489

348

30%

86.04%

70%

478

78.32%

PACIFIC PALISADES

$12,383,946

494

40%

94.69%

60%

767

76.75%

RANCHO SANTA FE

$7,525,500

1,040

40%

91.69%

60%

1,675

62.89%

SAN DIEGO COUNTY

$12,032,000

795

20%

114

91.37%

80%

965

71.93%

SAN FRANCISCO COUNTY

$16,082,500

579

60%

92.12%

40%

1,353

71.63%

SONOMA COUNTY

$10,814,800

432

60%

106

93.71%

40%

922

71.91%

WESTLAKE VILLAGE

$5,685,944

875

30%

124

93.37%

70%

1,197

70.98%

ASPEN

$22,450,981

667

33%

95.47%

67%

972

76.06%

TELLURIDE

$6,137,195

977

30%

93.27%

70%

1,370

80.91%

VAIL

$11,609,250

735

30%

87.91%

70%

909

87.02%

LAS VEGAS

$6,081,000

606

70%

103

87.40%

30%

1,778

53.43%

$8,552,500

739

50%

95.07%

50%

1,395

73.27%

$12,992,879

612

42%

91.28%

58%

1,004

74.29%

WA SEATTLE WEST MARKET AVERAGE HAWAII

UNDER 180 DAYS

OVER 180 DAYS

MAUI

$10,899,500

522

40%

113

91.38%

60%

795

81.99%

OAHU

$12,037,600

293

50%

88.92%

50%

499

69.05%

HAWAII MARKET AVERAGE

$11,468,550

408

45%

101

90.15%

55%

647

75.52%

LU X U RY H O M E S I N D E X | 4 4

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

N/A

100%

940

80.96%

$8,244,500

412

60%

92.81%

40%

917

85.53%

$9,110,584

676

30%

92.81%

70%

929

83.25%

SOUTH

UNDER 180 DAYS

OVER 180 DAYS

MIAMI

$20,820,011

497

33%

92.17%

67%

725

77.63%

PALM BEACH (PROPER)

$20,235,410

428

30%

122

88.91%

70%

559

80.42%

VERO BEACH

$7,241,375

571

30%

112

85.75%

70%

767

76.85%

ATLANTA

$4,248,160

467

50%

106

90.58%

50%

828

78.39%

NASHVILLE

$3,662,400

852

30%

98.33%

70%

1,194

71.63%

DALLAS

$9,122,222

479

44%

150

80.67%

56%

742

82.78%

SOUTH MARKET AVERAGE

$10,888,263

549

36%

89.40%

64%

803

77.95%

OVERALL MARKET AVERAGE

$12,124,696

588

40%

90.82%

60%

927

75.86%

Fewer than 10 sales were used for some markets because public data was incomplete. â&#x20AC; Lake Tahoe: Combined NV and CA

HIGHEST

LOWEST

4 5 | LU X U R Y H O M E S I N D E X

YOY CHANGE Annual Change: Highest Priced Sales in 56 U.S. Luxury Markets ST

MARKET

WEST

2015– 2016

2016– 2017

2017– 2018

2018– 2019

2015– 2019

2015– 2016

% CHANGE AVERAGE SALE PRICE

PHOENIX

0.66% -15.97%

BEVERLY HILLS

-21.45%

BRENTWOOD

-7.71%

HOLMBY HILLS + BEL AIR

33.44% -25.42%

2015– 2019

23.49%

62.95%

14.24%

1.59%

2.71% -52.83% -45.25%

23.43%

-6.16%

38.67%

26.17%

99.47%

-7.47%

-6.46%

14.48%

97.87%

23.08%

22.27%

9.54%

52.15%

99.42% -55.36%

6.10%

5.81%

0.00%

11.50% 132.21% 157.68%

25.92% -70.81%

-9.84%

-50.74% 19.37%

11.13%

10.05%

24.76%

76.64%

3.82%

ORANGE COUNTY

14.65%

9.38%

25.32%

-3.99%

50.90%

50.86%

PACIFIC PALISADES

3.19%

18.94%

PALO ALTO

RANCHO SANTA FE

SAN DIEGO COUNTY

SAN FRANCISCO COUNTY

SANTA BARBARA

SONOMA COUNTY

WESTLAKE VILLAGE

-20.09%

17.69%

ASPEN

-38.65%

59.66% -24.53%

DENVER

TELLURIDE

VAIL

SUN VALLEY

LAS VEGAS

PARK CITY

1.31% -22.48%

-3.61% -48.18%

-1.84%

34.64% -14.91%

2.13% -35.84% -45.41%

12.19% -10.36% -36.99% 55.47%

25.68% -22.54% 5.95%

18.77% -60.61% -18.77%

MALIBU

-17.41%

2018– 2019

% CHANGE AVERAGE DOM

WEST MARKET AVERAGE

2017– 2018

47.72%

CA† LAKE TAHOE

WA SEATTLE

2016– 2017

-4.31%

-0.85% -37.33% -50.00% -52.50% 115.20%

10.83%

37.28% -49.33% -67.79%

15.61% -67.65% 270.79% -10.04%

24.75% -63.77% 113.19%

28.19% -53.46% -53.96%

-9.56% -11.36%

-4.43% -35.75% -85.22%

86.87%

23.17%

-3.21%

0.25% -58.27%

39.76% -4.57% -42.61%

-2.83% -19.48% -32.23%

58.45%

6.38%

-52.27%

47.74% -13.92%

87.73% -54.62% -33.78% -33.52% -62.50%

-0.56% -54.92% -57.84% -34.63%

-6.12% -47.54% -40.54% -80.80%

13.45% -16.13% -53.97% 105.21% -36.51%

-6.14%

33.69% -19.79%

20.15%

2.12%

-45.85% 159.97%

25.52%

10.28%

8.31%

8.19% -46.74%

42.81% -27.35% -40.23%

19.80%

-1.58%

26.60%

-4.49% -32.76%

18.46% -49.05% -61.22%

-10.15% -13.47%

59.76% -71.68%

62.99% -13.79% -16.81%

-30.83% 14.13% -34.32%

22.86% 108.51% -54.55% -23.60%

48.61%

-56.76%

89.07%

-9.44%

48.71%

15.95% -19.72%

25.35% -23.00% -37.08%

30.28% -55.96% -72.26%

-3.76%

-2.85%

14.63%

20.56% -14.05% -16.54%

4.28% -24.41% -43.46%

12.49%

LU X U RY H O M E S I N D E X | 4 6

Includes sales price (SP), days on market (DOM), and percent of original list price (OLP) achieved

MARKET

HAWAII

2015– 2016

2016– 2017

2017– 2018

2018– 2019

2015– 2019

2015– 2016

% CHANGE AVERAGE SALE PRICE

KAUAI

80.46% -52.96%

KONA

-1.88%

14.31%

MAUI

-3.92%

8.85%

-9.88%

OAHU

-32.90%

HAWAII MARKET AVERAGE

-19.13%

4.90%

2016– 2017

2017– 2018

2018– 2019

2015– 2019

% CHANGE AVERAGE DOM 79.19%

-5.80%

-35.56%

59.82%

-1.13% -16.09%

59.36%

-3.47%

36.87%

73.63%

0.07% 103.33% -33.33%

-8.98%

46.08%

72.20%

33.05% -42.86%

91.13%

4.06%

-9.55%

6.13%

21.71%

16.70%

53.92%

40.02% -23.24%

2.11%

NORTH CT

FAIRFIELD COUNTY

GREENWICH

CHICAGO

14.75%

-53.05%

42.79%

45.26% -22.77%

41.55%

-7.33% -23.28% 82.22% -29.26% -28.12%

23.04% -38.28%

MA BOSTON

-38.04%

14.74% -21.98% 161.21%

MA CAPE COD

2.33%

13.56%

13.27% -34.57%

-31.61% 112.40% 44.88% -30.34% -16.03% -12.03%

1.79%

-32.47%

21.96% -37.14% 38.83%

MA MARTHA'S VINEYARD

46.73%

12.77%

MA NANTUCKET

41.73%

4.37%

NEW HAMPSHIRE

11.78%

-42.53%

MORRISTOWN + ESSEX

-5.48%

-35.71%

HAMPTONS

5.08%

19.82%

NEW YORK

57.63%

185.98%

WESTCHESTER COUNTY

53.31% -53.38%

-57.06%

PHILADELPHIA

-5.37%

-4.21%

-46.69% -40.72%

RHODE ISLAND

25.14%

-25.80%

VERMONT

-22.30%

-18.79%

NORTH MARKET AVERAGE

-10.52%

5.89%

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

HIGHEST

LOWEST

23.77%

24.03%

45.44% -29.61%

33.26% -14.98%

4.55%

-4.17% -23.56%

4 7 | LU X U R Y H O M E S I N D E X

Annual Change: Continued ST

MARKET

SOUTH

2015– 2016

2016– 2017

2017– 2018

2018– 2019

2015– 2019

2015– 2016

% CHANGE AVERAGE SALE PRICE

2016– 2017

2017– 2018

2018– 2019

% CHANGE AVERAGE DOM

BOCA RATON + DELRAY BEACH + HIGHLAND BEACH

-2.14%

-17.51%

BROWARD COUNTY

21.46%

-19.05%

DUVAL + ST. JOHNS COUNTIES

10.67%

31.63%

MIAMI

NAPLES

PALM BEACH (PROPER)

SARASOTA + MANATEE COUNTIES

TAMPA

VERO BEACH

-27.96%

23.03%

52.48% -10.19%

16.55%

28.35%

9.37%

-9.48%

-2.50%

13.93%

0.00%

22.33% -17.38% -14.53% -13.68% 30.67% -10.71%

23.70%

5.37%

5.54%

20.71%

22.33%

38.69%

-34.71%

8.79% -21.47%

-12.30% -43.46%

-11.45%

-2.95%

-3.42%

ATLANTA

37.30%

-4.72%

NASHVILLE

-7.48%

DALLAS

HOUSTON

FAIRFAX COUNTY

-11.31%

14.98%

2015– 2019

64.25%

-1.46% -18.22%

41.33%

14.75% -63.64% 253.50% 108.41%

3.38%

21.34%

64.11%

13.92%

79.14% -50.37% -16.72% -15.63%

56.78% -12.61%

54.77%

96.18% -31.34%

4.56%

63.64% -47.62% -20.51% -24.46%

81.54% -60.00%

51.15% -42.54%

-9.15%

53.99% -50.55% -33.82% -30.30%

-47.96%

33.61% 9.71%

SOUTH MARKET AVERAGE

-1.35%

10.48%

-7.27%

-0.93%

0.12%

8.71%

OVERALL MARKET AVERAGE

-4.75%

-3.01%

9.63%

9.37%

10.78%

-9.48%

Percentages are calculated when data has been collected for at least two years.

9.15% -45.54%

5.68% -17.69% -1.68%

-0.77%

-6.17%

-3.99% -10.69% -23.69%

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THE BIG QUESTION