WELCOME SUMMER!

The luxury real estate market is still seeing the effects of the intensity adjustment that started last year. This is currently being demonstrated through fewer closed transactions than the same period one year ago, with more active inventory for buyers to choose from in nearly all of our luxury markets.

There are a variety of life events that can prompt you to buy or sell. In today’s market, luxury buyers and sellers could be navigating life events including getting a new job or a promotion, or family changes. Additionally, seniors, retirees, and those in their homes for 5+ years, with major home equity are on the move. Whatever the reason for buying or selling, our luxury broker associates can help you along the way.

We hope you enjoy our Luxury Market Trends report covering the second quarter of 2023!

J. Lennox Scott Chairman and CEO

John L. Scott Real Estate