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LUXURY MARKET REPORT
NOVEMBER 2021 www.LuxuryHomeMarketing.com
THIS IS YOUR
LUXURY MARKET REPORT
MAP OF LUXURY RESIDENTIAL MARKETS
W
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report
provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
Copyright © 2021 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.
– LUXURY REPORT EXPLAINED – The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report. Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well. Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point. By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher. A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
REPORT GLOSSARY REMAINING INVENTORY: The total number of homes available at the close of a month. DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted. LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes. NEW LISTINGS: The number of homes that entered the market during the current month. PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot. SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory. SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
“A turnkey property with modern features and amenities in the best location may be their goal, but as many of these new buyers are no longer looking for a vacation property but a co-primary residence, especially if they are able to work from home, they are willing to compromise. As many prices are currently at their highest levels, savvy buyers are reviewing both the future prospects of the destination as well as the resale value potential of the home.”
NORTH AMERICAN LUXURY REVIEW Demand vs Supply: Compromises and Changes expected this Winter As we approach the winter season, when the nights grow longer and days cooler for the majority of North America, sales in the luxury real estate market typically start to slow down. Sales in the last four months of 2020 certainly proved to an exception to the rule, as they not only broke records over previous years’ numbers, but actually increased month over month. Although, the last quarter of 2021 is not expected to provide such dramatic increases in sales as 2020, there is a new significant trend currently impacting the luxury market. Overall, the demand for luxury properties in North America is outpacing the supply of properties entering the market. This explains why inventory levels continue to decline in the luxury market. Taking a closer look at the data on pages 12-19 and its clear to see that most luxury markets favor sellers rather than buyers. This is further qualified by the significantly higher number of properties being sold in the majority of these markets, in comparison to the number of new listings entering the market. Across the 116 markets showcased in October 2021’s luxury market report, the number of sold properties was 37% higher than the number of new listings for that month. In this month’s report the difference is even higher at 55.5% more sales than new listings. To put that into context, in 2020 the number of properties entering the market in September was 9% higher than the number sold. October’s figures showed that the number of listings entering the market had fallen, they were still slightly higher by 1% than the number of sold.
This does not mean that there is no inventory; there are properties still available from months where inventory did exceed demand as well as new construction homes and developments. But it does indicate that buyers need to recognize that finding their new home will still be challenging and that waiting may not pay off if they are looking for prices to fall. The levels of demand and supply are certainly not equal across all luxury real estate markets, nor are they for specific price points, property types, location, and other variables that make up buyer’s deciding factors. This disparity of choice is the main reason why there is still inventory available. The bigger question for this quarter is whether inventory levels will continue to decline? Not just because we are approaching the typically quieter real estate months of winter, but because buyers, keen to purchase, seem more than ready to compromise and revisit the priority of their requirements. With the ski season fast approaching as well as snowbirds looking to escape their wintery landscapes, real estate professionals have started to see a shift in what their buyers are willing to accept in order to purchase a home in their desired destination. Coveted locations in these destinations are very obvious from ski-in/out properties to beach and lake side resorts or homes with private docks and water access. But the word is that, although these homes are currently limited in their availability, buyers have started to negotiate and if the seller remains unrealistic, they are willing to walk away. A turnkey property with modern features and amenities in the best location may be their goal, but as many of these new buyers are no longer looking for a vacation property but a co-primary residence, especially if they are able to work from home, they are willing to compromise. As many prices are currently at their highest levels, savvy buyers are reviewing both the future prospects of the destination as well as the resale value potential of the home.
To this end, the choice of buying an older property that needs renovations is becoming one of more popular compromises. The ability to own two primary residences allows them the time and space in which to complete the renovations and add value to their property. Not purchasing in the destination’s prime locations is another compromise, as these co-primary homeowners are typically looking for different features such as larger properties with more outdoor space. Being in heart of the busy downtown, positioned river or beachside or ski-in/out becomes less crucial when it’s no longer a vacation property but a true second primary home. On the flip side of the coin are the buyers who are looking to return to their cities, mostly due to work obligations. While there certainly has been a significant upswing in the number of sales within the downtown cores of metropolitan cities, there is also a trend by the affluent to hedge their bets. At the start of the pandemic, we saw numerous affluent homeowners escape the city for either destination locations or the exurbs. Working from home meant that location choices were not often based on commute times. For the most part those who are now choosing to move recognize that commuting is again an important factor and are looking for options that will allow them to work part-time in the city and the rest from home. While some have chosen to purchase a pied-à-terre in the city to stay at for a few nights a week, others are not ready to split their time between city living and family home. Real estate professionals are reporting a change in the desirability for ownership in suburban communities, especially those offering commute times under 1 hour, which are seeing increased demand.
Some of the affluent are selling their vacation properties, while they are in prime demand, and reinvesting in a home that is closer to the city and still provides the larger footprint, amenities, and outdoor space they have grown accustomed to. Others are keeping their city properties but buying in previously less desirable suburbs or properties that need renovations, with an eye on the investment opportunity of a property with an easy commute. Revitalization of communities, especially older neighborhoods in both primary and secondary markets, by developers looking to start in the spring of 2022 is predicted to be a great opportunity for investors this winter. The increasing number of new affluent entering the market has created a new record-high demand for new builds offering smart-home and high-tech features with luxury finishes. This demand is also in direct correlation to the increasing number of younger affluent buyers, many of whom are working in the technology sector and have relocated to markets that offer an array of employment options. In their move to more affordable hubs in locations such as Austin, Atlanta, Colorado Springs, Detroit, Phoenix, and Pittsburgh, tech companies have created large relocation problems, and demand for real estate is driving prices up as inventory levels continue to drop. Many of these technology experts who are moving from more expensive markets, like Silicon Valley, with an expectation of affording a higher quality home. Buyers who are not ready to compromise are more than willing to outbid their competitors. The art of selling and buying in this market needs a critical and analytical approach, understanding the realities and setting expectations accordingly will ensure that goals are achieved. For homeowners looking to buy or sell in today’s market, we recommend working with a realtor who can capitalize on the preferences, trends, and demands in this dynamic and evolving environment.
– 13 - MONTH MARKET TRENDS – FOR THE LUXURY NORTH AMERICAN MARKET
Single-Family Homes
Attached Homes
Single-Family List Price
Attached List Price
All data is based off median values. Median prices represent properties priced above respective city benchmark prices.
40
31 18 21
11
10 15
OCT
NOV
DEC
JAN
FEB
MAR
10
10
13
APR
15
14
16
11 15
15
JUL
AUG
SEP
13
11
MAY
JUN
OCT
$420
$514
$540 $427
$411
$486
$492 $410
$421
$411
$508
$513 $403
$394
$488
$494
$378
$394
$486
$489 $392
$300
$375
$400
$481
$500
$521
$600
$482
PRICE PER SQUARE FOOT
37
34
31
20
0
$200
$100
$0
SALES PRICE VS. LIST PRICE
35
36
33
30
34
$393
DAYS ON MARKET
31
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
$2,100,000 $1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
Discrepancies in previous month statistics between the October 2021 and November 2021 reports are due to the addition of Frederick County, MD, Howard County, MD, Staten Island, NY, and Cleveland Suburbs, OH.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Year over Year October 2020 | October 2021
SINGLE-FAMILY HOMES October 2020
October 2021
Median List Price
$1,684,750
$1,812,500
Median Sale Price
$1,382,500 $1,390,000
Median SP/LP Ratio
97.96%
100.00%
Total Sales Ratio
33.06%
56.62%
$393
$420
Median Price per Sq. Ft.
October 2020
October 2021
Total Inventory
40,891
28,575
New Listings
12,026
9,647
Total Sold
13,520
16,180
31
15
3,752
3,347
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
2,379
2,660
New Listings
Total Sold
16
23.56%
Med. Sale Price
Days on Market
Sales Ratio
7,500
$
SINGLE-FAMILY HOMES MARKET SUMMARY | OCTOBER 2021 •
Official Market Type: Seller's Market with a 56.62% Sales Ratio.1
•
Homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,390,000.
•
Markets with the Highest Median Sales Price: Vail ($4,229,592, Los Angeles Beach Cities ($3,995,000), Santa Barbara ($3,875,000), and Los Angeles City ($3,575,000).
•
Markets with the Highest Sales Ratio: Waterloo Region (415%), Oakville (256%), Greater Seattle (248%) and East Bay (243%). 1
Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Year over Year October 2020 | October 2021
ATTACHED HOMES October 2020
October 2021
Median List Price
$899,950
$1,112,500
Median Sale Price
$875,000
$889,475
Median SP/LP Ratio
98.56%
100.00%
Total Sales Ratio
20.19%
43.78%
$482
$514
Median Price per Sq. Ft.
October 2020
Total Inventory
October 2021
18,607
11,212
New Listings
5,326
3,915
Total Sold
3,757
4,909
34
13
2,076
1,913
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
1,411
1,152
New Listings
Total Sold
14,475
$
Med. Sale Price
21
23.59%
Days on Market
Sales Ratio
ATTACHED HOMES MARKET SUMMARY | OCTOBER 2021 •
Official Market Type: Seller's Market with a 43.78% Sales Ratio.1
•
Attached homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $889,475.
•
Markets with the Highest Median Sales Price: Vail ($3,200,000), San Francisco ($2,460,000), Park City ($2,300,000), and Greater Boston ($2,150,000).
•
Markets with the Highest Sales Ratio: Waterloo Region (3,400%), Summit County (500%), GTA-Durham (333%) and Howard County (309%). 1
Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$1,168,880
$996,000
435
158
142
34
Seller's
AZ
Paradise Valley
$4,995,000
$2,850,000
111
29
37
57
Seller's
AZ
Phoenix
$825,000
$775,000
377
194
339
30
Seller's
AZ
Scottsdale
$2,301,400
$1,575,100
297
95
185
33
Seller's
AZ
Tucson
$699,900
$637,000
461
184
234
8
Seller's
BC
Okanagan Valley
$1,991,500
$1,550,000
478
149
96
30
Balanced
BC
Vancouver
$4,500,000
$3,398,400
1,085
274
146
16
Buyer's
BC
Victoria
$2,678,950
$1,830,733
48
18
9
21
Balanced
CA
Central Coast
$3,322,500
$2,452,500
140
48
82
21
Seller's
CA
East Bay
$2,350,000
$1,912,500
220
138
534
8
Seller's
CA
Greater Palm Springs
$2,492,000
$1,619,000
136
54
109
23
Seller's
CA
Lake Tahoe
$2,600,000
$1,700,000
107
33
37
9
Seller's
CA
Los Angeles Beach Cities
$5,662,500
$3,995,000
300
81
111
24
Seller's
CA
Los Angeles City
$5,597,000
$3,575,000
618
180
183
24
Seller's
CA
Los Angeles The Valley
$2,982,498
$2,106,250
278
123
190
15
Seller's
CA
Marin County
$3,980,000
$3,000,000
65
11
72
13
Seller's
CA
Napa County
$3,995,000
$2,100,000
95
13
15
39
Balanced
CA
Orange County
$3,324,940
$2,250,000
520
199
435
10
Seller's
CA
Placer County
$1,195,000
$1,050,000
143
38
56
9
Seller's
CA
Sacramento
$949,900
$877,000
395
109
202
8
Seller's
CA
San Diego
$2,595,000
$1,822,500
521
220
450
10
Seller's
CA
San Francisco
$4,775,000
$3,300,635
111
29
111
10
Seller's
CA
San Luis Obispo County
$1,999,900
$1,400,000
111
27
63
N/A
Seller's
CA
Santa Barbara
$6,700,000
$3,875,000
91
41
60
10
Seller's
CA
Silicon Valley
$5,999,475
$3,401,000
230
105
387
8
Seller's
CA
Sonoma County
$2,400,000
$1,650,000
152
29
65
38
Seller's
CA
Ventura County
$2,832,500
$1,665,000
166
58
103
30
Seller's
CO
Boulder
$2,292,500
$1,585,000
130
45
101
41
Seller's
CO
Colorado Springs
$999,250
$891,000
192
78
111
9
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Denver
$1,781,500
$1,380,000
250
84
252
6
Seller's
CO
Douglas County
$1,826,567
$1,239,975
115
44
112
5
Seller's
CO
Durango
$1,825,000
$1,221,759
67
9
22
89
Seller's
CO
Summit County
$2,635,000
$2,525,000
34
9
16
30
Seller's
CO
Vail
$5,947,500
$4,229,592
42
9
25
35
Seller's
CT
Central Connecticut
$674,900
$585,000
337
75
143
17
Seller's
CT
Coastal Connecticut
$2,292,000
$1,625,000
584
122
175
53
Seller's
DC
Washington D.C.
$4,195,000
$2,450,000
49
9
15
8
Seller's
DE
Sussex County Coastal
$1,399,990
$1,450,000
81
32
43
8
Seller's
FL
Boca Raton/Delray Beach
$3,395,000
$1,925,000
242
71
64
23
Seller's
FL
Coastal Pinellas County
$2,000,000
$2,195,000
55
18
13
7
Seller's
FL
Greater Fort Lauderdale
$1,800,000
$1,050,000
671
231
246
22
Seller's
FL
Jacksonville Beaches
$1,372,000
$1,250,000
144
37
67
29
Seller's
FL
Lee County
$1,499,000
$1,415,000
273
84
90
25
Seller's
FL
Marco Island
$2,850,000
$1,987,500
65
17
12
6
Balanced
FL
Miami
$2,300,000
$1,500,000
516
146
113
38
Seller's
FL
Naples
$4,262,500
$2,399,000
182
55
51
20
Seller's
FL
Orlando
$1,350,000
$1,218,000
345
89
154
22
Seller's
FL
Palm Beach Towns
$5,225,000
$2,060,000
120
35
30
47
Seller's
FL
Sarasota & Beaches
$2,695,000
$1,862,500
142
42
66
18
Seller's
FL
South Pinellas County
$1,599,000
$1,187,500
121
46
72
8
Seller's
FL
South Walton
$2,747,000
$1,760,000
164
57
54
21
Seller's
FL
Tampa
$944,840
$680,613
447
178
316
9
Seller's
FL
Weston
$1,350,000
$910,000
46
15
28
16
Seller's
GA
Atlanta
$1,560,000
$1,249,500
457
155
203
13
Seller's
HI
Island of Hawaii
$2,945,000
$2,225,000
64
19
24
15
Seller's
HI
Kauai
$2,919,000
$1,875,000
48
11
14
61
Seller's
HI
Maui
$3,447,500
$2,198,000
104
19
49
74
Seller's
HI
Oahu
$3,180,000
$2,505,000
159
38
66
14
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
ID
Northern
$1,199,000
$827,500
285
83
202
67
Seller's
IL
Chicago
$1,499,500
$1,200,000
622
169
265
28
Seller's
IL
DuPage County
$1,150,000
$981,500
303
78
116
39
Seller's
IL
Lake County
$1,150,000
$977,500
264
64
96
33
Seller's
IL
Will County
$774,650
$582,837
162
32
102
21
Seller's
IN
Hamilton County
$975,000
$762,392
59
17
110
4
Seller's
KS
Johnson County
$848,200
$818,000
209
48
118
4
Seller's
MA
Greater Boston
$3,498,000
$2,250,000
93
32
25
38
Seller's
MD
Anne Arundel County
$1,100,000
$927,500
142
41
102
10
Seller's
MD
Frederick County
$925,000
$875,000
45
13
26
6
Seller's
MD
Howard County
$1,129,990
$1,049,613
90
17
52
7
Seller's
MD
Montgomery County
$1,890,000
$1,600,000
134
48
109
6
Seller's
MD
Talbot County
$2,895,000
$1,566,000
37
3
18
29
Seller's
MD
Worcester County
$1,199,999
$832,500
41
6
13
7
Seller's
MI
Livingston County
$749,950
$750,000
70
22
29
16
Seller's
MI
Monroe County
$649,000
$585,000
15
6
5
72
Seller's
MI
Oakland County
$825,000
$641,125
593
198
300
16
Seller's
MI
Washtenaw County
$949,900
$705,000
125
34
37
25
Seller's
MI
Wayne County
$705,995
$635,000
161
58
96
14
Seller's
MO
Kansas City
$693,420
$654,950
576
132
351
7
Seller's
MO
St. Louis
$799,900
$682,500
103
34
74
15
Seller's
NC
Charlotte
$1,100,000
$916,500
298
94
256
5
Seller's
NC
Raleigh-Durham
$1,195,000
$950,000
198
73
180
2
Seller's
NJ
Ocean County
$899,000
$820,000
303
105
171
17
Seller's
NV
Lake Tahoe
$3,995,000
$3,175,000
88
23
13
78
Buyer's
NV
Las Vegas
$800,000
$707,216
1,147
449
584
18
Seller's
NV
Reno
$1,950,000
$1,600,000
79
18
31
60
Seller's
NY
Brooklyn
$1,798,000
$1,490,000
260
45
31
90
Buyer's
NY
Nassau County
$1,950,000
$1,692,500
742
146
142
35
Balanced
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NY
Staten Island
$1,378,000
$1,100,000
103
31
23
47
Seller's
NY
Suffolk County
$1,749,000
$1,300,000
826
208
170
40
Balanced
OH
Cincinnati
$875,000
$785,000
206
25
47
11
Seller's
OH
Cleveland Suburbs
$812,132
$640,000
32
8
25
38
Seller's
ON
GTA - Durham
$1,599,000
$1,315,000
135
157
287
6
Seller's
ON
GTA - York
$2,805,990
$1,950,000
315
290
349
9
Seller's
ON
Oakville
$4,749,889
$2,290,500
36
44
92
6
Seller's
ON
Toronto
$3,980,000
$3,225,000
293
221
187
10
Seller's
ON
Waterloo Region
$1,690,000
$1,280,000
33
57
137
7
Seller's
OR
Portland
$1,462,500
$1,093,000
366
107
238
8
Seller's
SC
Charleston
$2,175,000
$1,600,000
203
91
116
16
Seller's
TN
Nashville
$2,100,000
$1,299,950
216
68
224
3
Seller's
TX
Austin
$1,050,000
$900,000
434
202
311
7
Seller's
TX
Collin County
$749,990
$680,190
335
159
423
7
Seller's
TX
Dallas
$1,412,500
$1,018,500
230
87
143
7
Seller's
TX
Denton County
$772,526
$701,000
238
114
283
8
Seller's
TX
Fort Worth
$907,450
$781,000
352
144
263
8
Seller's
TX
Houston
$981,000
$890,000
1,230
380
319
29
Seller's
TX
San Antonio
$849,500
$699,900
309
92
127
28
Seller's
TX
The Woodlands & Spring
$914,950
$728,000
156
64
133
14
Seller's
UT
Park City
$4,500,000
$3,024,691
77
15
39
8
Seller's
UT
Salt Lake City
$1,299,500
$1,000,500
167
62
160
11
Seller's
VA
Arlington & Alexandria
$2,199,000
$1,812,500
71
22
32
11
Seller's
VA
Charlottesville
$1,250,000
$1,035,000
125
13
31
10
Seller's
VA
Fairfax County
$2,250,000
$1,571,000
257
89
154
9
Seller's
VA
McLean & Vienna
$2,999,900
$1,870,000
119
33
59
13
Seller's
VA
Richmond
$824,330
$780,000
154
46
118
8
Seller's
WA
Greater Seattle
$2,000,000
$1,700,000
267
151
663
5
Seller's
WA
Seattle
$2,195,000
$1,678,000
109
63
173
6
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$751,695
$737,000
137
34
26
49
Balanced
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$1,037,500
$774,000
78
30
62
33
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,999,900
$1,750,000
752
299
135
18
Balanced
BC
Victoria
$1,172,950
$961,433
82
49
15
15
Balanced
CA
Central Coast
$1,172,000
$1,023,500
10
9
23
10
Seller's
CA
East Bay
$1,072,495
$1,050,000
82
51
172
10
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,625,000
$1,243,500
19
9
10
18
Seller's
CA
Los Angeles Beach Cities
$1,899,000
$1,600,000
132
41
85
14
Seller's
CA
Los Angeles City
$1,850,000
$1,374,500
342
116
98
24
Seller's
CA
Los Angeles The Valley
$811,250
$790,000
70
48
80
14
Seller's
CA
Marin County
$1,075,000
$1,150,000
11
4
20
10
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,200,000
$1,069,000
97
59
228
7
Seller's
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,395,000
$1,075,000
193
108
192
10
Seller's
CA
San Francisco
$2,795,000
$2,460,000
129
26
49
11
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$2,445,000
$1,650,000
10
6
17
12
Seller's
CA
Silicon Valley
$1,660,000
$1,620,000
53
29
117
9
Seller's
CA
Sonoma County
$739,917
$707,000
9
1
4
81
Seller's
CA
Ventura County
$850,000
$710,000
37
26
40
25
Seller's
CO
Boulder
$1,240,000
$822,748
47
18
39
41
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
$1,000,000
$925,000
136
34
69
9
Seller's
CO
Denver
CO
Douglas County
$652,500
$549,500
4
3
8
6
Seller's
CO
Durango
$737,475
$664,950
8
4
10
46
Seller's
CO
Summit County
$2,274,000
$1,327,000
2
1
10
6
Seller's
CO
Vail
$4,900,000
$3,200,000
55
9
21
15
Seller's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,200,000
$662,500
145
21
44
36
Seller's
DC
Washington D.C.
$1,895,000
$1,530,000
216
84
93
8
Seller's
DE
Sussex County Coastal
$1,089,950
$850,000
12
4
10
14
Seller's
FL
Boca Raton/Delray Beach
$1,550,000
$700,000
163
43
53
22
Seller's
FL
Coastal Pinellas County
$1,485,000
$1,137,500
55
20
28
7
Seller's
FL
Greater Fort Lauderdale
$940,000
$795,000
685
159
120
30
Balanced
FL
Jacksonville Beaches
$1,295,000
$1,000,000
20
8
8
7
Seller's
FL
Lee County
$1,042,499
$676,250
88
27
58
7
Seller's
FL
Marco Island
$2,000,000
$1,800,000
9
5
5
44
Seller's
FL
Miami
$1,450,000
$1,187,827
1,294
239
158
84
Buyer's
FL
Naples
$2,345,000
$1,450,000
91
33
49
7
Seller's
FL
Orlando
$875,000
$575,000
67
19
22
7
Seller's
FL
Palm Beach Towns
$1,800,000
$1,665,000
122
38
26
39
Seller's
FL
Sarasota & Beaches
$1,646,000
$1,500,000
76
29
25
7
Seller's
FL
South Pinellas County
$1,291,250
$895,000
74
31
39
7
Seller's
FL
South Walton
$1,306,400
$1,237,500
169
36
28
15
Balanced
FL
Tampa
$810,000
$649,500
69
22
42
7
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$725,000
$604,000
397
123
151
22
Seller's
HI
Island of Hawaii
$1,965,000
$1,300,000
32
8
29
4
Seller's
HI
Kauai
$1,872,500
$1,350,000
40
9
15
9
Seller's
HI
Maui
$2,585,000
$2,000,000
31
14
31
73
Seller's
HI
Oahu
$1,299,000
$947,000
355
118
116
12
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
-
-
-
-
-
-
-
ID
Northern
IL
Chicago
$1,150,000
$1,000,866
748
212
179
44
Seller's
IL
DuPage County
$746,700
$750,000
30
11
13
18
Seller's
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
KS
Johnson County
$599,950
$626,442
55
15
24
4
Seller's
MA
Greater Boston
$2,599,000
$2,150,000
281
75
77
24
Seller's
MD
Anne Arundel County
$557,990
$547,500
35
14
46
5
Seller's
MD
Frederick County
-
-
-
-
-
-
-
MD
Howard County
$659,990
$581,250
11
9
34
6
Seller's
MD
Montgomery County
$771,500
$726,450
110
52
94
8
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$749,450
$637,500
70
22
39
9
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$859,500
$699,000
51
15
23
14
Seller's
MI
Washtenaw County
$650,000
$562,995
34
6
9
48
Seller's
MI
Wayne County
$629,900
$541,900
71
18
10
45
Buyer's
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$750,000
$585,000
135
36
63
6
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$875,000
$675,000
15
5
5
34
Seller's
NV
Lake Tahoe
$2,198,000
$1,085,000
9
2
11
64
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,450,000
$1,295,000
502
119
81
45
Balanced
NY
Nassau County
$1,650,000
$1,155,000
85
19
21
50
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NY
Staten Island
$623,944
$620,000
48
13
26
32
Seller's
NY
Suffolk County
$699,900
$645,000
103
27
48
27
Seller's
OH
Cincinnati
$756,280
$600,000
29
4
4
52
Buyer's
OH
Cleveland Suburbs
-
-
-
-
-
-
-
ON
GTA - Durham
$799,945
$773,750
12
16
40
6
Seller's
ON
GTA - York
$769,000
$764,000
86
106
133
10
Seller's
ON
Oakville
$2,169,500
$1,200,000
18
37
45
5
Seller's
ON
Toronto
$1,295,000
$1,156,000
609
448
345
11
Seller's
ON
Waterloo Region
$1,474,949
$800,500
2
15
68
6
Seller's
OR
Portland
$749,000
$620,000
169
69
89
16
Seller's
SC
Charleston
$926,000
$889,475
86
18
30
19
Seller's
TN
Nashville
$827,000
$654,500
72
26
57
4
Seller's
TX
Austin
$829,000
$795,000
113
60
93
13
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$964,314
$665,000
140
54
44
34
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$649,000
$570,000
151
54
30
32
Balanced
TX
San Antonio
$709,950
$624,250
34
7
4
24
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,564,500
$2,300,000
18
7
33
25
Seller's
UT
Salt Lake City
$598,900
$571,800
57
20
53
12
Seller's
VA
Arlington & Alexandria
$1,112,500
$1,017,461
88
42
64
6
Seller's
VA
Charlottesville
$934,950
$552,945
18
2
7
0
Seller's
VA
Fairfax County
$750,000
$690,000
147
57
139
9
Seller's
VA
McLean & Vienna
$1,144,000
$904,500
32
8
18
8
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,397,000
$997,500
140
56
101
6
Seller's
WA
Seattle
$1,655,000
$1,200,000
93
35
29
6
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.