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LUXURY MARKET REPORT
FEBRURY 2022 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 © 2022 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.
“While the demand for luxury real estate market is not turning over a new leaf, there is certainly an appreciation that a leaf has been turned when we look at the other ongoing trends; including a greater diversity in location choice, property types, ownership levels and what amenities have become major priorities for affluent homeowners.”
NORTH AMERICAN LUXURY REVIEW Is Luxury Real Estate Turning Over a New Leaf? The end of each December always seems to bring a feeling that the tolling of midnight on December 31st will bring about a change in the New Year — better fortunes, better resolve, and better luck. However, isn’t the reality that trends tend to slip seamlessly from one month or one year to another; with some holding their patterns for longer than others, while others create larger or smaller impacts than expected? Can 2022 really be that different from 2021? Certainly, most years in real estate see ups and downs with respect to sales, prices, and inventory levels, with 2021 being a beyond exceptional year for the luxury market. The National Real Estate Association (NAR) stated in a recent report that there was a historic rise of properties sold in the $1-5 million range between January to August 2021, by 142% for single-family homes and 129% for attached homes, compared to sales in 2019 for the same period. So how is it possible to predict that 2022 will be a calmer year for the luxury real estate market? Are trusted trends really expected to return, including a spring real estate market with increased inventory levels, which, in turn, may help to create of a plateau for price increases? Past and current trends combined with analytics are often our best guides. For instance, the month of January has always reported a quieter month for real estate transactions, specifically for singlefamily homes, except for sunshine destinations such as Florida and Arizona as snowbirds head south to avoid the colder weather patterns of the north. In fact, trends are showing that a price plateau is more than likely for at least the first quarter for 2022, as both single-family and attached property median prices have remained fairly consistent
since October 2021. Inventory levels, which tend to fall in the last quarter of each year and not pick up until March of the following year are also following normal trends, although at a much lower level, as the number of luxury homes for sale has hit a 20-year low. It is also possible to predict that affluent buyers will continue to create a strong demand for luxury homes in 2022. The data for January 2022 already shows this strength of demand with singlefamily home sales increasing 29% and inventory decreasing 28% over January 2021. On the luxury attached side of the market, inventory is down 42% and sales are up 30%, year over year. This level of demand continues a trend started in June 2020, created initially by pandemic. However, the spring 2021 buying frenzy trend is not expected to continue because of the escalation of luxury prices, increasing levels of homes anticipated to enter the market, and importantly the change in buyer priorities. Instead, 2022 should see affluent buyers take a more considered approach and make more discerning decisions about property values, which will naturally slow the pace. While the demand for luxury real estate market is not turning over a new leaf, there is certainly an appreciation that a leaf has been turned when we look at the other ongoing trends; including a greater diversity in location choice, property types, ownership levels and what amenities have become major priorities for affluent homeowners. For luxury real estate professionals, more importance will be need placed on fulfilling their client’s future “must-haves”, which were once “wants,” and recognition that, due to inventory constraints, this will often entail a longer search because their buyers are now focused on making longer-term real estate decisions These decisions are also no longer only about buying or living full-time in their larger metropolitan cities and having a second home as a vacation property.Expectations are that the affluent will continue purchasing homes in multiple destinations, or changing their primary residence
locations, or even choosing to co-live between two or three full-time properties in diametrically opposite locations. That being said, the claim that people are all leaving the city has been a little overblown, and there has been a substantial move back by those not ready to give up their metropolitan lifestyle. However, there has been a shift - with those returning to the city wanting much larger residences offering space as well more sophisticated amenities and technology that addresses their health and wellness requirements. Other affluent homeowners are keeping their options open, keeping one foot in the city with a purchase of a pied-à-terre and their larger residence in different location, but one that allows them to travel easily back and forth to their metropolis. Interestingly, the luxury terminology of “owning a vacation property” is gradually being replaced by “we can work from anywhere, so will be at our other home for the next few days.” 2022 is also anticipated to be a big year where we will see the affluent look carefully at diversifying their asset portfolios, both for financial reasons such as tax advantages or moving their wealth from the stock market or cryptocurrency, as it will be to find properties that fulfill their need for well-being, family unity, and lifestyle requirements. This desire to own multiple homes will be one of the factors that will keep driving the sales of luxury real estate market well into 2022. Another will be entrance of millennial buyers, who are
either self-made, or are now gaining wealth from their family; either through a direct inheritance or because of their parents’ relocation, to a less expensive home, will free up the sold property’s realized equity. Today’s affluent buyers who are looking to diversify say that their desire stems from wanting to own a second home in a remote or resort-style location or to capitalize on an opportunity to move from one metropolis to another. Growth in secondary city markets throughout North America has seen a huge jump over the last few years – due to major corporations moving in or expanding, a surge in technology company growth, and due to affordability of owning in the more luxurious locations within these cities. The opportunity to own a home that offers five-star amenities whether it’s a fully appointed home with luxury features that include environmentally and sustainability focused attributes or a property with a larger yard, close to their lifestyle preferences with extraordinary views, these are all far more financially achievable in these new city locations. Luxury and sustainability amenities will be the key drivers of the decision process for affluent buyers in 2022, together with a property being turnkey. Plenty will still be ready to pay a premium not to have to deal with renovations or even decorating, and in some cases, especially resort purchases, buyers are more than willing to buy all the furnishings too. 2022 will still prove to be an interesting year in the luxury real estate market as we have yet to see the return of international buyers and investors. Still, the word “home” remains a top priority for many, and the world is finally ready to recognize the need for substantial social and environmental change. 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.
36
18 20
21
11 11
10
13
JAN
FEB
MAR
APR
16
10 12
12
MAY
JUN
14
12
15
13
JUL
AUG
14
OCT
16
16
14
12
SEP
17
17
14
NOV
DEC
JAN
$414
$530
$546 $414
$396
$398
$500
$508
$533 $393
$482 $386
$482 $372
$387
$495 $381
$478
$513 $383
$300
$377
$387
$400
$494
$500
$520
$600
$487
PRICE PER SQUARE FOOT
35
33
0
$200
$100
$0
SALES PRICE VS. LIST PRICE
37
$363
DAYS ON MARKET
40
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
$2,100,000 $1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
Discrepancies in previous month statistics between the January 2022 and February 2022 reports are due to the addition of Mississauga, ON; Westmount, QC; Greater Chattanooga, TN; El Paso, TX; Lubbock, TX; and Spokane, WA.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Year over Year January 2021 | January 2022
SINGLE-FAMILY HOMES January 2021
January 2022
January 2021
Median List Price
$1,725,000 $1,885,750
Total Inventory
Median Sale Price
$1,358,000
$1,335,750
Median SP/LP Ratio
97.67%
100.00%
Total Sales Ratio
33.46%
60.10%
$363
$414
Median Price per Sq. Ft.
January 2022
25,321
18,261
New Listings
7,627
6,979
Total Sold
8,472
10,975
37
17
3,754
3,335
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
648
2,503
New Listings
Total Sold
20
26.64%
Med. Sale Price
Days on Market
Sales Ratio
22,250
$
SINGLE-FAMILY HOMES MARKET SUMMARY | JANUARY 2022 •
Official Market Type: Seller's Market with a 60.1% Sales Ratio.1
•
Homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,335,000.
•
Markets with the Highest Median Sales Price: Telluride ($6,995,000), Los Angeles Beach Cities ($4,250,000), Westmount ($4,125,000), and Vail ($4,087,500).
•
Markets with the Highest Sales Ratio: Waterloo Region (1142%), East Bay (535%), GTADurham (395%) and Salt Lake City (217%). 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 January 2021 | January 2022
ATTACHED HOMES January 2021
January 2022
Median List Price
$1,038,440
$1,199,950
Median Sale Price
$858,750
$874,250
Median SP/LP Ratio
98.61%
100.00%
Total Sales Ratio
23.51%
54.21%
$487
$530
Median Price per Sq. Ft.
January 2021
Total Inventory
January 2022
13,037
7,716
New Listings
3,970
3,351
Total Sold
3,065
4,183
33
16
2,031
1,831
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
619
1,118
New Listings
Total Sold
15,500
$
Med. Sale Price
17
30.70%
Days on Market
Sales Ratio
ATTACHED HOMES MARKET SUMMARY | JANUARY 2022 •
Official Market Type: Seller's Market with a 54.21% 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 $874,250.
•
Markets with the Highest Median Sales Price: Vail ($2,900,000), Greater Boston ($2,550,000), San Francisco ($2,262,500), and Maui ($1,925,000).
•
Markets with the Highest Sales Ratio: Waterloo Region (5100%), GTA-Durham (1333%), Mississauga (506%) and Summit County (400%). 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
$1,296,500
$938,000
206
169
171
13
Seller's
AZ
Paradise Valley
$5,995,000
$4,000,000
79
24
31
79
Seller's
AZ
Phoenix
$887,000
$751,331
212
122
312
34
Seller's
AZ
Scottsdale
$3,000,000
$1,682,500
217
88
180
31
Seller's
AZ
Tucson
$835,000
$653,000
355
151
244
11
Seller's
BC
Mid Vancouver Island
$1,800,000
$1,352,000
67
43
29
8
Seller's
BC
Okanagan Valley
$1,998,840
$1,500,000
314
105
76
56
Seller's
BC
Vancouver
$4,580,000
$3,398,300
822
284
114
14
Buyer's
BC
Victoria
$2,650,000
$2,192,500
37
36
24
6
Seller's
CA
Central Coast
$4,099,500
$2,575,000
68
40
67
12
Seller's
CA
East Bay
$2,825,000
$1,910,000
52
47
278
8
Seller's
CA
Greater Palm Springs
$2,724,000
$1,950,000
114
46
91
34
Seller's
CA
Lake Tahoe
$3,150,000
$1,850,000
55
12
27
15
Seller's
CA
Los Angeles Beach Cities
$6,995,000
$4,250,000
189
68
77
38
Seller's
CA
Los Angeles City
$6,097,000
$3,600,000
442
170
129
27
Seller's
CA
Los Angeles The Valley
$2,999,475
$2,025,000
198
93
141
20
Seller's
CA
Marin County
$4,490,000
$3,255,322
30
10
24
53
Seller's
CA
Napa County
$4,472,500
$2,442,000
58
10
12
28
Balanced
CA
Orange County
$3,710,000
$2,257,444
396
209
316
10
Seller's
CA
Placer County
$1,325,000
$1,090,000
96
30
43
10
Seller's
CA
Sacramento
$975,000
$894,925
238
81
140
12
Seller's
CA
San Diego
$2,995,000
$1,842,535
376
217
300
8
Seller's
CA
San Francisco
$5,550,000
$3,325,000
56
21
37
11
Seller's
CA
San Luis Obispo County
$2,074,950
$1,321,500
72
16
48
N/A
Seller's
CA
Santa Barbara
$7,995,000
$3,632,500
67
25
38
12
Seller's
CA
Silicon Valley
$5,559,000
$3,310,000
121
70
169
7
Seller's
CA
Sonoma County
$2,500,000
$1,797,500
92
33
34
81
Seller's
CA
Ventura County
$3,300,000
$1,680,000
101
41
79
30
Seller's
CO
Boulder
$2,640,000
$1,750,000
70
35
47
47
Seller's
CO
Colorado Springs
$999,000
$849,900
119
36
77
13
Seller's
CO
Denver
$2,100,000
$1,303,500
154
61
130
9
Seller's
CO
Douglas County
$2,300,000
$1,275,000
75
27
57
17
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
Durango
$1,872,500
$1,447,250
42
10
8
71
Balanced
CO
Summit County
$3,822,500
$2,468,500
18
7
14
23
Seller's
CO
Telluride
$9,572,500
$6,995,000
40
2
5
146
Buyer's
CO
Vail
$5,547,500
$4,087,500
34
6
7
3
Balanced
DC
Washington D.C.
$4,995,000
$2,394,000
39
12
8
19
Balanced
DE
Sussex County Coastal
$1,399,995
$1,302,500
70
30
26
46
Seller's
FL
Boca Raton/Delray Beach
$4,625,000
$1,898,000
144
46
62
17
Seller's
FL
Coastal Pinellas County
$2,387,500
$2,155,000
36
8
17
26
Seller's
FL
Greater Fort Lauderdale
$2,400,000
$1,136,250
414
156
232
21
Seller's
FL
Jacksonville Beaches
$1,500,000
$1,160,000
119
41
69
25
Seller's
FL
Lee County
$1,590,000
$1,450,000
215
94
109
11
Seller's
FL
Marco Island
$3,500,000
$1,900,000
43
16
19
57
Seller's
FL
Miami
$2,200,000
$1,550,000
485
142
123
60
Seller's
FL
Naples
$4,762,500
$2,750,000
176
68
67
23
Seller's
FL
Orlando
$1,495,000
$1,150,000
241
76
119
21
Seller's
FL
Palm Beach Towns
$7,725,000
$2,125,000
90
30
28
21
Seller's
FL
Sarasota & Beaches
$3,097,500
$2,000,000
130
41
69
9
Seller's
FL
South Pinellas County
$1,798,900
$1,257,500
71
27
54
21
Seller's
FL
South Walton
$2,999,990
$1,975,000
107
29
67
27
Seller's
FL
Tampa
$999,250
$661,500
290
111
279
9
Seller's
FL
Weston
$1,375,000
$1,000,000
21
10
32
8
Seller's
GA
Atlanta
$1,797,495
$1,150,000
328
113
129
12
Seller's
GA
Duluth
$1,492,500
$1,600,000
6
2
7
11
Seller's
HI
Island of Hawaii
$2,500,000
$1,750,000
63
21
27
29
Seller's
HI
Kauai
$4,047,500
$1,735,000
44
7
15
10
Seller's
HI
Maui
$3,837,500
$2,225,000
112
35
35
74
Seller's
HI
Oahu
$3,300,000
$2,374,000
143
36
40
16
Seller's
ID
Ada County
$825,073
$750,000
172
111
253
16
Seller's
ID
Northern
$1,305,000
$800,000
112
39
103
108
Seller's
IL
Chicago
$1,599,000
$1,310,000
341
115
189
43
Seller's
IL
DuPage County
$1,200,000
$915,000
176
57
73
29
Seller's
IL
Lake County
$1,167,500
$1,075,000
154
43
73
36
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
IL
Will County
$749,900
$634,500
120
33
56
18
Seller's
IN
Hamilton County
$982,500
$905,900
42
14
44
5
Seller's
KS
Johnson County
$786,022
$864,250
146
32
80
9
Seller's
MA
Greater Boston
$3,675,000
$3,122,500
61
23
32
34
Seller's
MD
Anne Arundel County
$1,100,000
$929,900
75
23
53
7
Seller's
MD
Frederick County
$912,495
$825,000
26
4
15
3
Seller's
MD
Howard County
$1,230,970
$951,000
51
13
23
7
Seller's
MD
Montgomery County
$2,495,000
$1,627,370
67
23
46
15
Seller's
MD
Talbot County
$3,185,000
$1,495,000
18
1
7
57
Seller's
MD
Worcester County
$1,173,000
$1,100,000
28
6
5
107
Balanced
MI
Livingston County
$782,500
$695,500
50
21
14
35
Seller's
MI
Monroe County
$820,000
$853,000
7
1
1
5
Buyer's
MI
Oakland County
$839,990
$648,250
401
147
170
26
Seller's
MI
Washtenaw County
$912,500
$689,000
80
17
24
30
Seller's
MI
Wayne County
$859,990
$599,500
105
37
48
27
Seller's
MN
Olmsted County
$840,000
$700,360
35
11
17
25
Seller's
MN
Twin Cities
$1,250,000
$1,038,077
332
95
105
16
Seller's
MO
Kansas City
$664,900
$657,145
493
115
238
10
Seller's
MO
St. Louis
$1,021,000
$645,000
51
13
47
7
Seller's
NC
Charlotte
$1,373,640
$910,000
186
67
174
6
Seller's
NC
Lake Norman
$1,199,000
$972,500
73
18
56
18
Seller's
NC
Raleigh-Durham
$1,444,500
$927,903
86
32
133
0
Seller's
NJ
Ocean County
$935,000
$834,500
183
66
118
25
Seller's
NV
Lake Tahoe
$4,200,000
$3,147,500
64
11
14
76
Seller's
NV
Las Vegas
$1,950,000
$1,475,000
336
117
111
34
Seller's
NV
Reno
$2,369,500
$1,550,000
38
9
21
103
Seller's
NY
Brooklyn
$1,795,000
$1,487,500
195
41
22
78
Buyer's
NY
Nassau County
$1,950,000
$1,487,500
527
141
130
65
Seller's
NY
Staten Island
$1,375,000
$1,160,000
107
31
35
51
Seller's
NY
Suffolk County
$1,899,000
$1,275,000
568
115
127
40
Seller's
OH
Cincinnati
$812,450
$727,500
158
24
26
17
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
OH
Cleveland Suburbs
$822,682
$666,500
18
6
8
47
Seller's
ON
GTA - Durham
$1,999,950
$1,608,000
44
89
174
5
Seller's
ON
GTA - York
$3,193,444
$2,029,000
184
240
250
6
Seller's
ON
Mississauga
$3,994,000
$2,527,500
38
36
52
8
Seller's
ON
Oakville
$4,024,950
$2,432,500
26
41
40
7
Seller's
ON
Toronto
$3,989,444
$3,200,000
182
148
93
8
Seller's
ON
Waterloo Region
$1,775,000
$1,300,000
12
51
137
5
Seller's
QC
Westmount
$2,997,000
$4,125,000
62
18
2
75
Buyer's
TN
Greater Chattanooga
$1,020,532
$900,000
82
27
38
16
Seller's
TN
Nashville
$2,250,000
$1,350,000
111
54
137
3
Seller's
TX
Austin
$1,250,000
$899,500
137
58
218
12
Seller's
TX
Collin County
$850,000
$756,500
188
85
336
12
Seller's
TX
Dallas
$1,722,000
$990,000
98
51
89
8
Seller's
TX
Denton County
$878,544
$750,000
114
61
177
6
Seller's
TX
El Paso
$634,000
$580,000
64
14
17
10
Seller's
TX
Fort Worth
$1,025,000
$750,000
247
105
191
13
Seller's
TX
Houston
$982,500
$796,700
808
276
223
35
Seller's
TX
Lubbock
$699,000
$564,000
43
20
24
69
Seller's
TX
San Angelo
$749,500
$650,000
49
0
3
128
Buyer's
TX
San Antonio
$850,000
$759,900
173
27
95
33
Seller's
TX
The Woodlands & Spring
$941,464
$727,500
94
35
72
9
Seller's
UT
Park City
$5,432,500
$4,027,906
58
5
20
15
Seller's
UT
Salt Lake City
$1,350,000
$999,000
58
25
126
17
Seller's
VA
Arlington & Alexandria
$2,195,000
$2,236,000
47
16
19
11
Seller's
VA
Charlottesville
$1,695,000
$1,042,500
59
10
24
19
Seller's
VA
Fairfax County
$2,498,000
$1,687,500
139
50
84
24
Seller's
VA
McLean & Vienna
$3,063,950
$2,272,809
82
25
40
31
Seller's
VA
Richmond
$814,053
$790,018
102
31
85
8
Seller's
WA
Greater Seattle
$2,049,000
$1,685,000
119
67
225
5
Seller's
WA
Seattle
$3,150,000
$1,620,000
37
15
50
6
Seller's
WA
Spokane
$975,000
$830,000
53
31
34
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 – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$843,950
$710,000
98
41
29
69
Seller's
AZ
Paradise Valley
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$1,599,228
$792,500
71
32
66
36
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Mid Vancouver Island
$820,000
$826,450
24
18
22
17
Seller's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$2,098,400
$1,688,500
610
342
160
8
Seller's
BC
Victoria
$1,399,500
$900,500
60
54
70
9
Seller's
CA
Central Coast
$937,500
$1,124,500
4
4
14
9
Seller's
CA
East Bay
$1,097,001
$1,070,000
24
25
79
8
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,495,000
$1,468,745
9
6
12
27
Seller's
CA
Los Angeles Beach Cities
$2,250,000
$1,640,000
73
36
51
19
Seller's
CA
Los Angeles City
$1,797,000
$1,520,000
244
116
70
18
Seller's
CA
Los Angeles The Valley
$875,000
$788,440
32
20
62
16
Seller's
CA
Marin County
$1,110,000
$1,322,500
12
6
10
17
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,299,000
$1,100,000
101
94
188
7
Seller's
CA
Placer County
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,324,500
$1,123,500
112
84
138
9
Seller's
CA
San Francisco
$3,399,000
$2,262,500
63
21
16
76
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,599,500
$1,285,000
4
5
7
11
Seller's
CA
Silicon Valley
$1,868,995
$1,675,062
23
19
52
8
Seller's
CA
Sonoma County
$3,324,500
$709,736
4
1
3
39
Seller's
CA
Ventura County
$885,000
$715,000
25
11
40
13
Seller's
CO
Boulder
$1,187,296
$837,500
25
18
20
33
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
CO
Denver
$1,062,500
$825,000
84
23
49
45
Seller's
CO
Douglas County
$817,450
$583,000
4
7
14
4
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
CO
Durango
$637,500
$780,000
4
1
6
35
Seller's
CO
Summit County
$970,000
$1,065,000
1
1
4
7
Seller's
CO
Telluride
-
-
-
-
-
-
-
CO
Vail
$5,900,000
$2,900,000
41
9
12
29
Seller's
DC
Washington D.C.
$2,000,000
$1,612,602
126
42
56
29
Seller's
DE
Sussex County Coastal
$1,150,000
$1,442,500
9
1
4
7
Seller's
FL
Boca Raton/Delray Beach
$1,795,000
$770,000
104
33
65
14
Seller's
FL
Coastal Pinellas County
$1,675,000
$1,250,000
49
21
37
7
Seller's
FL
Greater Fort Lauderdale
$899,000
$830,000
505
152
143
42
Seller's
FL
Jacksonville Beaches
$1,674,500
$1,260,000
14
9
13
14
Seller's
FL
Lee County
$949,950
$775,000
54
30
64
6
Seller's
FL
Marco Island
$5,322,500
$1,870,000
4
2
6
2
Seller's
FL
Miami
$1,500,000
$1,250,000
1,063
220
158
77
Buyer's
FL
Naples
$2,272,000
$1,597,500
90
47
82
9
Seller's
FL
Orlando
$709,995
$580,000
58
16
24
9
Seller's
FL
Palm Beach Towns
$1,550,000
$1,900,000
77
35
37
34
Seller's
FL
Sarasota & Beaches
$2,294,300
$1,455,000
74
38
52
10
Seller's
FL
South Pinellas County
$1,662,500
$925,000
66
30
49
6
Seller's
FL
South Walton
$1,344,180
$1,200,000
115
18
28
56
Seller's
FL
Tampa
$1,667,450
$694,250
42
34
48
6
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$775,500
$639,000
243
81
115
35
Seller's
GA
Duluth
-
-
-
-
-
-
-
HI
Island of Hawaii
$2,450,000
$1,225,000
25
5
24
8
Seller's
HI
Kauai
$1,649,500
$1,200,000
28
9
5
69
Balanced
HI
Maui
$2,625,000
$1,925,000
47
21
30
61
Seller's
HI
Oahu
$1,250,000
$968,750
315
79
122
26
Seller's
ID
Ada County
$599,900
$657,350
17
5
12
16
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,295,750
$971,250
546
215
120
79
Seller's
IL
DuPage County
$914,000
$619,000
14
6
11
54
Seller's
IL
Lake County
-
-
-
-
-
-
-
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
-
-
-
-
-
-
-
IL
Will County
IN
Hamilton County
KS
Johnson County
$629,348
$645,000
56
9
11
15
Balanced
MA
Greater Boston
$2,499,000
$2,550,000
158
67
62
43
Seller's
MD
Anne Arundel County
$545,990
$545,000
25
13
25
5
Seller's
MD
Frederick County
-
-
-
-
-
-
-
MD
Howard County
$651,995
$547,000
6
4
12
6
Seller's
MD
Montgomery County
$804,500
$725,000
46
20
57
15
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$739,900
$665,000
43
10
15
30
Seller's
MI
Livingston County
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$794,500
$650,283
38
15
18
12
Seller's
MI
Washtenaw County
$650,000
$593,000
32
7
6
51
Balanced
MI
Wayne County
$665,000
$575,000
63
10
4
6
Buyer's
MN
Olmsted County
MN
Twin Cities
MO
Kansas City
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$785,000
$625,000
91
28
63
27
Seller's
NC
Lake Norman
$522,900
$645,000
5
3
3
9
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$949,000
$672,500
27
14
16
43
Seller's
NV
Lake Tahoe
$1,960,000
$1,080,000
6
0
7
65
Seller's
NV
Las Vegas
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,480,000
$1,238,000
383
76
91
58
Seller's
NY
Nassau County
$1,579,000
$1,449,000
103
23
14
91
Buyer's
NY
Staten Island
$649,900
$623,750
41
18
30
27
Seller's
NY
Suffolk County
$729,495
$619,000
76
32
35
35
Seller's
OH
Cincinnati
$759,900
N/A
35
2
0
N/A
Buyer'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
-
-
-
-
-
-
-
$1,645,900
$885,000
3
10
40
5
Seller's
OH
Cleveland Suburbs
ON
GTA - Durham
ON
GTA - York
$829,000
$805,000
39
108
141
5
Seller's
ON
Mississauga
$1,149,000
$980,000
17
42
86
5
Seller's
ON
Oakville
$1,299,888
$1,400,000
19
27
25
6
Seller's
ON
Toronto
$1,349,900
$1,062,500
338
346
320
7
Seller's
ON
Waterloo Region
$750,000
$863,500
2
37
102
5
Seller's
QC
Westmount
$1,100,000
$657,000
37
7
1
97
Buyer's
TN
Greater Chattanooga
-
-
-
-
-
-
-
TN
Nashville
$2,491,500
$690,000
22
16
31
25
Seller's
TX
Austin
$1,284,558
$751,000
31
13
67
18
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$1,199,950
$635,000
76
32
39
67
Seller's
TX
Denton County
TX
El Paso
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$659,950
$597,500
104
46
24
44
Seller's
TX
Lubbock
TX
San Angelo
-
-
-
-
-
-
-
TX
San Antonio
$749,000
$645,000
21
3
2
316
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,575,000
$1,790,000
28
17
55
0
Seller's
UT
Salt Lake City
$1,159,000
$568,745
17
12
64
26
Seller's
VA
Arlington & Alexandria
$1,092,450
$1,088,750
48
23
38
15
Seller's
VA
Charlottesville
$1,065,000
$761,000
17
1
2
11
Buyer's
VA
Fairfax County
$839,990
$690,000
61
37
82
7
Seller's
VA
McLean & Vienna
$1,483,000
$836,000
22
13
7
1
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,549,777
$1,080,000
81
39
69
7
Seller's
WA
Seattle
$1,774,750
$1,100,000
62
28
20
44
Seller's
WA
Spokane
-
-
-
-
-
-
-
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.