Home of the CLHMS TM
LUXURY MARKET REPORT
OCTOBER 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.
“In simple terms, the luxury real estate market remains extremely robust and luxury properties are still very much in high demand. If trends remain on track, then 2021 could report one of the strongest years on record for the number of sales as well as the median price point for luxury properties.”
NORTH AMERICAN LUXURY REVIEW LUXURY HOME SALES SET TO SURPASS 2019 AND 2020 NUMBERS As we enter in the last quarter of 2021, we review the number of year-to-date sales as they compare to the full years of 2019 and 2020. We also look at several trends to establish the types of properties currently being purchased and to ascertain which were seeing the highest demand in the luxury real estate market. Seven takeaways for the North American Luxury Market: 1. The number of sales in the luxury real estate market, year to date, have already surpassed the number of sales for the full year of 2019. 2. Demand remains strong, with the majority of luxury markets reporting sales in 2021 already outpacing the total number of sales in 2020. 3. The luxury markets whose sales are not currently outpacing 2020 are, for the most part, predicted to do so by the end of 2021. 4. Demand for properties in the $5 million range and above in 2021 is currently in the double digits compared to 2019, ie. there are more than double the number of $5 million + homes sold in 2021 than in the full year of 2019. 5. Sales of properties in the $1-5 million range are currently 50% higher than the full year of 2019 but are predicated to be as much as 100% higher by the end of 2021. 6. Inventory levels continue to remain at one of the lowest levels of availability, certainly over the last 20 years, if not longer.
7. The median sold price in for luxury single-family homes, year to date in 2021, is approximately US$1.7 million, a 22% increase compared to 2020, and for luxury attached homes it is approximately US$1 million, a 12.8% increase compared to 2020. What does this tell us? In simple terms, the luxury real estate market remains extremely robust and luxury properties are still very much in high demand. If trends remain on track, then 2021 could report one of the strongest years on record for the number of sales as well as the median price point for luxury properties. However, despite these extraordinary numbers, the fall market is currently experiencing a slowing down, especially if we compare it to the activity of last spring’s market — not so much in the number of sales, but more that price increases have slowed, inventory levels increased, and there are fewer bidding wars. There is more a semblance of normality for all parties concerned in today’s market. Similarly, communities themselves are starting to return to a more normal way of life, as individuals have learned to live with the COVID-19 restrictions, coupled with more and more North Americans being vaccinated, which has helped reduce the frenzied buying activity as well as the mass exodus out of cities. In fact, the number of individuals returning to city life has increased exponentially month-over-month in 2021, as eased pandemic restrictions has renewed some confidence. The two largest property types that are trending this fall are city dwellings, condominiums in particular, and second home properties. Major cities such as New York, San Francisco, Chicago, Toronto, and to some extent Los Angeles (whose urban sprawl made it easier to relocate to the city’s outer limits) offered returning buyers a softer condominium market in which to negotiate. In many of the high-density metropolitan markets, inventory levels are still higher comparative to the numbers for the fall months of 2019. This allows buyers to be choosier, and price points,
especially
when
compared
to
the
escalating
prices found in suburban counterparts, seem comparatively affordable. However, buyers sitting on the fence might well find themselves pushed out of the market if they wait too long. Prices of condominiums are escalating as inventory levels are starting to fall, and negotiations will become tighter in terms of what a seller is willing to do to close their sale. So, too are we seeing developers starting to scale back on the concessions and discounts they offered to entice buyers, who were once skittish at the prospect of buying a condo, especially in new luxury buildings located in metropolitan markets. New developments have specifically seen an upswing in demand whether this in a metropolitan area or second home location, particularly if their specifications cater to three key demands. Space is an obvious requirement, but flexibility of its use is highly prized – rooms or spaces that can be used for different purposes, but most importantly offer a dedicated location to be able to work from home, if required. Wellness is key, from offering a truly comfortable space to air, water, and heat filtration systems. Equally, building amenities that provide residents the opportunity to enjoy a dedicated, communal location to views, amenities, and outdoor space. Townhomes or Brownstones within the inner cities were not as affected as condominiums during 2020, in fact many affluent condominium owners who could not or did not want to leave their respective city tended to upsize into these types of properties, especially if they offered a private outdoor space. Today, they are still highly prized, especially by families who wish to return to city life but are not ready to move back into an apartment block. This
market may see a slow down as we move further into the fall months, partly due to lack of inventory, but mainly because families will have purchased before the start of the school year. Second homeowners are probably now the largest demographic in the affluent marketplace, as a result of the pandemic. The affluent already had a propensity to own multiple homes but even with the diminishing impact of COVID-19, the demand for additional homes has not abated. The significant difference between second homes pre-pandemic and today’s market is that previously they were bought with the idea of a 2-3 week stay or perhaps a summer vacation property. Today, many second homes are interchangeable with the primary home and have been set up accordingly to allow their owners to change properties immediately and for the long term, if necessary. It is important to recognize that technology has changed almost every aspect of our lives and will continue to do so, and tech and data companies are responding by upgrading remote communication tools that prioritize security, as well as higher speed connectivity. This technology only reinforces the opportunity for people to work from home and live anywhere. The number of homes owned and the number of affluent owning two or more properties has accelerated during 2021, so whether you are looking at a ski resort or sunnier destination, do not be surprised by the low inventory levels. Finally, let’s not forget the combination of a second homeowner whose choice of purchase may not be for their own use, but rather as an investment. Increasing numbers of individuals, especially Gen-Xers and Millennials, are investing in condominiums in both metropolitan and resort markets as way to step into the market or grow their real estate portfolio. 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.
33 29
35 37
34 31
30
19 20
21
11
10
10
15
SEP
OCT
NOV
DEC
JAN
FEB
MAR
10
12
APR
16
11
14
15
15
11
MAY
JUN
JUL
AUG
SEP
$546 $434
$424
$490
$502 $415
$436
$417
$508
$513 $415
$418
$488
$494 $398
$487 $397
$487
$491 $394
$300
$389
$395
$400
$492
$500
$528
$600
$461
PRICE PER SQUARE FOOT
30
34
0
$200
$100
$0
SALES PRICE VS. LIST PRICE
36
32
31
$379
DAYS ON MARKET
40
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
$2,100,000 $1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
Discrepancies in previous month statistics between the September 2021 and October 2021 reports are due to the addition of Charlottesville, VA, Cincinnati, OH, and Johnson County, KS.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Year over Year September 2020 | September 2021
SINGLE-FAMILY HOMES September 2020
Median List Price
September 2021
$1,693,944 $1,825,000
Median Sale Price Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
$1,391,250
$1,437,500
97.64%
100.00%
31.30%
54.34%
$379
$434
September 2020 September 2021
Total Inventory
41,340
30,600
New Listings
12,520
11,063
Total Sold
12,941
16,627
33
14
3,673
3,275
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
1,457
3,686
New Listings
Total Sold
19
23.04%
Med. Sale Price
Days on Market
Sales Ratio
46,250
$
SINGLE-FAMILY HOMES MARKET SUMMARY | SEPTEMBER 2021 •
Official Market Type: Seller's Market with a 54.34% 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 $1,437,500
•
Markets with the Highest Median Sales Price: Vail ($4,203,750), Los Angeles Beach Cities ($3,892,500), Park City ($3,707,500), and Los Angeles City ($3,700,000).
•
Markets with the Highest Sales Ratio: East Bay (230%), GTA-Durham (205%), Silicon Valley (141%) and Hamilton County (134%). 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 September 2020 | September 2021
ATTACHED HOMES September 2020
September 2021
Median List Price
$1,029,795
$1,118,641
Median Sale Price
$880,000
Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
September 2020 September 2021
Total Inventory
18,691
11,800
$910,000
New Listings
5,649
4,469
98.36%
100.00%
Total Sold
3,636
4,647
19.45%
39.38%
29
15
$461
$546
2,139
1,932
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
1,180
1,011
New Listings
Total Sold
30,000
$
Med. Sale Price
14
19.93%
Days on Market
Sales Ratio
ATTACHED HOMES MARKET SUMMARY | SEPTEMBER 2021 •
Official Market Type: Seller's Market with a 39.38% 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 $910,000.
•
Markets with the Highest Median Sales Price: Vail ($2,962,500), San Francisco ($2,555,555), Greater Boston ($1,980,900), and Maui ($1,927,000).
•
Markets with the Highest Sales Ratio: Douglas County (333%), GTA-Durham (318%), Ventura County (311%) and Durango (275%). 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
$1,165,000
$1,011,000
486
217
137
33
Seller's
AZ
Paradise Valley
$4,695,000
$2,750,000
123
36
21
44
Balanced
AZ
Phoenix
$849,000
$772,500
360
184
312
28
Seller's
AZ
Scottsdale
$2,400,000
$1,500,000
292
98
181
35
Seller's
AZ
Tucson
$700,000
$650,000
430
176
242
7
Seller's
BC
Okanagan Valley
$1,950,000
$1,577,000
513
175
84
28
Balanced
BC
Vancouver
$4,584,000
$3,210,000
1,158
374
121
9
Buyer's
CA
Central Coast
$3,500,000
$2,271,500
157
47
82
17
Seller's
CA
East Bay
$2,124,000
$1,907,500
232
140
534
9
Seller's
CA
Greater Palm Springs
$2,495,000
$1,712,500
134
65
86
23
Seller's
CA
Lake Tahoe
$2,649,000
$1,731,185
105
37
64
12
Seller's
CA
Los Angeles Beach Cities
$5,388,000
$3,892,500
301
96
118
32
Seller's
CA
Los Angeles City
$5,750,000
$3,700,000
569
212
169
24
Seller's
CA
Los Angeles The Valley
$2,999,750
$1,980,000
244
106
212
12
Seller's
CA
Marin County
$3,978,500
$3,100,000
76
26
55
15
Seller's
CA
Napa County
$3,972,500
$2,290,000
104
21
23
43
Seller's
CA
Orange County
$3,525,000
$2,210,000
484
171
441
10
Seller's
CA
Placer County
$1,200,000
$1,022,500
156
31
76
9
Seller's
CA
Sacramento
$939,000
$879,500
458
133
228
9
Seller's
CA
San Diego
$2,696,500
$1,901,125
560
236
453
11
Seller's
CA
San Francisco
$4,980,000
$3,475,000
117
50
76
11
Seller's
CA
San Luis Obispo County
$2,150,000
$1,425,000
114
27
71
CA
Santa Barbara
$6,495,000
$3,534,250
100
42
54
7
Seller's
CA
Silicon Valley
$5,700,000
$3,382,500
269
128
380
8
Seller's
CA
Sonoma County
$2,499,000
$1,749,500
193
42
80
34
Seller's
CA
Ventura County
$2,723,500
$1,675,000
172
63
112
26
Seller's
CO
Boulder
$2,216,500
$1,494,500
100
55
84
44
Seller's
CO
Colorado Springs
$1,087,500
$883,394
194
90
140
7
Seller's
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
$1,750,000
$1,375,000
279
111
291
6
Seller's
CO
Douglas County
$1,850,000
$1,293,500
125
51
128
10
Seller's
CO
Durango
$1,899,000
$1,197,500
80
18
26
66
Seller's
CO
Summit County
$2,585,000
$1,865,000
34
13
10
10
Seller's
CO
Vail
$5,897,500
$4,203,750
46
5
16
19
Seller's
CT
Central Connecticut
$667,450
$605,000
370
87
161
15
Seller's
CT
Coastal Connecticut
$2,222,500
$1,617,500
650
168
203
38
Seller's
DC
Washington D.C.
$4,345,000
$2,176,000
56
14
9
8
Balanced
DE
Sussex County Coastal
$1,399,000
$1,425,000
84
31
35
9
Seller's
FL
Boca Raton/Delray Beach
$3,195,000
$2,050,000
241
73
63
16
Seller's
FL
Coastal Pinellas County
$2,050,000
$1,660,000
43
14
23
10
Seller's
FL
Greater Fort Lauderdale
$1,699,000
$1,100,000
659
193
296
15
Seller's
FL
Jacksonville Beaches
$1,400,000
$1,250,000
164
44
79
19
Seller's
FL
Lee County
$1,590,000
$1,290,178
254
78
100
8
Seller's
FL
Marco Island
$3,075,000
$2,000,500
54
14
12
19
Seller's
FL
Miami
$2,297,500
$1,535,000
542
151
127
37
Seller's
FL
Naples
$2,996,250
$2,200,500
366
95
114
17
Seller's
FL
Orlando
$1,300,000
$1,195,000
393
141
146
11
Seller's
FL
Palm Beach Towns
$4,500,000
$2,800,000
111
28
33
11
Seller's
FL
Sarasota & Beaches
$2,895,000
$1,630,000
147
40
52
21
Seller's
FL
South Pinellas County
$1,647,500
$1,200,000
104
41
73
10
Seller's
FL
South Walton
$2,495,000
$2,000,000
165
47
63
15
Seller's
FL
Tampa
$902,490
$675,000
434
174
376
9
Seller's
FL
Weston
$1,325,000
$930,000
43
17
42
17
Seller's
GA
Atlanta
$1,495,000
$1,184,000
510
171
210
14
Seller's
HI
Island of Hawaii
$2,060,000
$1,990,000
60
21
28
50
Seller's
HI
Kauai
$3,124,500
$1,683,250
48
9
24
52
Seller's
HI
Maui
$3,294,000
$2,775,000
102
25
32
100
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
$3,100,000
$2,425,000
174
46
59
14
Seller's
$774,450
$755,000
374
217
335
7
Seller's
HI
Oahu
ID
Ada County
ID
Northern Idaho
$1,100,000
$844,349
327
96
156
68
Seller's
IL
Chicago
$1,499,000
$1,254,000
729
228
278
24
Seller's
IL
DuPage County
$1,189,000
$899,950
337
99
100
34
Seller's
IL
Lake County
$1,117,500
$877,500
322
75
130
24
Seller's
IL
Will County
$749,404
$600,000
198
57
110
9
Seller's
IN
Hamilton County
$951,450
$725,000
64
27
86
5
Seller's
KS
Johnson County
$859,805
$850,000
220
48
199
5
Seller's
MA
Greater Boston
$3,499,000
$2,800,000
102
48
36
23
Seller's
MD
Anne Arundel County
$1,100,000
$878,000
157
60
108
8
Seller's
MD
Montgomery County
$1,880,000
$1,455,500
150
67
93
8
Seller's
MD
Talbot County
$3,125,000
$1,617,500
38
10
12
30
Seller's
MD
Worcester County
$1,149,999
$795,000
47
10
25
18
Seller's
MI
Livingston County
$715,000
$675,000
71
22
35
14
Seller's
MI
Monroe County
$666,950
$635,000
16
5
5
79
Seller's
MI
Oakland County
$800,000
$619,750
619
237
354
14
Seller's
MI
Washtenaw County
$992,000
$730,000
118
29
51
15
Seller's
MI
Wayne County
$749,000
$635,000
176
69
117
19
Seller's
MO
Kansas City
$691,680
$631,040
625
179
358
7
Seller's
MO
St. Louis
$799,450
$680,000
102
32
88
26
Seller's
NC
Charlotte
$1,199,000
$922,000
305
108
293
5
Seller's
NC
Raleigh-Durham
$1,112,500
$999,249
212
65
146
1
Seller's
NJ
Ocean County
$899,825
$867,500
336
108
147
15
Seller's
NV
Lake Tahoe
$4,097,500
$2,570,000
64
22
18
76
Seller's
NV
Las Vegas
$843,700
$720,000
1,130
464
572
12
Seller's
NV
Reno
$1,892,750
$1,500,000
80
28
33
51
Seller's
NY
Brooklyn
$1,799,000
$1,450,000
268
44
23
47
Buyer'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
NY
Nassau County
$1,888,000
$1,585,000
791
152
183
34
Seller's
NY
Suffolk County
$1,725,000
$1,242,500
797
187
176
28
Seller's
OH
Cincinnati
$849,900
$735,000
245
39
47
22
Balanced
ON
GTA - Durham
$1,624,500
$1,275,000
150
195
307
6
Seller's
ON
GTA - York
$2,749,000
$1,894,000
401
360
309
8
Seller's
ON
Oakville
$3,699,500
$2,230,000
44
30
31
8
Seller's
ON
Toronto
$3,884,000
$3,160,000
366
297
154
7
Seller's
ON
Waterloo Region
$1,688,000
$1,450,000
31
19
7
9
Seller's
QC
Montreal
$1,691,500
$1,495,000
192
53
55
21
Seller's
SC
Charleston
$1,998,000
$1,625,000
179
58
101
8
Seller's
TN
Nashville
$1,999,000
$1,400,000
230
105
203
3
Seller's
TX
Austin
$1,001,450
$921,500
454
243
363
7
Seller's
TX
Collin County
$726,900
$682,200
387
195
442
6
Seller's
TX
Dallas
$1,399,000
$1,062,150
247
84
136
19
Seller's
TX
Denton County
$805,475
$715,756
257
100
318
8
Seller's
TX
Fort Worth
$930,000
$836,000
373
131
318
7
Seller's
TX
Houston
$949,000
$847,000
1,275
394
323
22
Seller's
TX
San Antonio
$834,500
$737,500
294
95
139
28
Seller's
TX
The Woodlands & Spring
$1,001,000
$737,450
164
55
106
10
Seller's
UT
Park City
$4,700,000
$3,707,500
77
24
38
17
Seller's
UT
Salt Lake City
$1,200,000
$975,000
201
96
175
17
Seller's
VA
Arlington & Alexandria
$1,999,000
$1,860,500
77
30
19
12
Seller's
VA
Charlottesville
$1,197,500
$1,035,000
112
25
31
10
Seller's
VA
Fairfax County
$2,181,500
$1,482,877
280
96
134
9
Seller's
VA
McLean & Vienna
$2,624,500
$1,713,131
148
44
46
9
Seller's
VA
Richmond
$799,900
$749,000
168
47
106
7
Seller's
WA
Greater Seattle
$1,800,000
$1,690,000
810
381
833
6
Seller's
WA
Seattle
$1,862,500
$1,736,500
124
76
152
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
$749,900
$683,500
157
42
18
44
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$929,000
$749,975
85
39
48
38
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,998,800
$1,752,000
739
348
119
9
Balanced
CA
Central Coast
$1,012,500
$981,500
10
8
24
7
Seller's
CA
East Bay
$1,064,500
$1,050,000
78
57
153
9
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,750,000
$1,065,000
23
7
21
11
Seller's
CA
Los Angeles Beach Cities
$1,800,000
$1,655,000
137
66
88
19
Seller's
CA
Los Angeles City
$1,748,889
$1,405,000
341
116
108
23
Seller's
CA
Los Angeles The Valley
$799,000
$781,667
37
18
76
12
Seller's
CA
Marin County
$1,430,000
$1,050,000
16
10
15
34
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,241,500
$1,026,000
94
52
208
8
Seller's
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,454,500
$1,120,750
202
92
208
10
Seller's
CA
San Francisco
$2,544,000
$2,555,555
140
52
29
11
Balanced
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,962,500
$1,420,000
12
11
12
11
Seller's
CA
Silicon Valley
$1,662,220
$1,632,500
69
39
102
8
Seller's
CA
Sonoma County
$779,000
$780,000
11
5
9
48
Seller's
CA
Ventura County
$789,000
$725,000
19
10
59
17
Seller's
CO
Boulder
$1,037,618
$865,000
32
26
40
37
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
$1,045,000
$877,000
141
32
60
25
Seller's
CO
Denver
CO
Douglas County
$545,000
$556,060
3
4
10
4
Seller's
CO
Durango
$1,135,000
$702,000
4
1
11
45
Seller's
CO
Summit County
$1,523,999
$1,000,000
3
3
7
2
Seller's
CO
Vail
$4,672,500
$2,962,500
62
1
18
24
Seller's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,149,500
$775,000
176
33
43
51
Seller's
DC
Washington D.C.
$1,890,000
$1,575,000
218
115
55
13
Seller's
DE
Sussex County Coastal
$1,150,000
$825,000
13
4
20
7
Seller's
FL
Boca Raton/Delray Beach
$1,437,500
$777,500
168
56
80
15
Seller's
FL
Coastal Pinellas County
$1,498,500
$1,072,500
46
12
28
11
Seller's
FL
Greater Fort Lauderdale
$930,000
$750,000
710
155
130
28
Balanced
FL
Jacksonville Beaches
$1,295,000
$951,000
19
6
9
14
Seller's
FL
Lee County
$879,500
$749,444
86
22
54
6
Seller's
FL
Marco Island
$1,699,000
$1,300,000
11
4
7
19
Seller's
FL
Miami
$1,400,000
$1,127,000
1,303
243
123
75
Buyer's
FL
Naples
$1,850,000
$1,535,000
139
45
76
9
Seller's
FL
Orlando
$830,000
$611,500
65
18
29
20
Seller's
FL
Palm Beach Towns
$1,941,000
$1,352,500
110
33
42
32
Seller's
FL
Sarasota & Beaches
$1,600,000
$1,365,025
76
25
32
27
Seller's
FL
South Pinellas County
$1,375,000
$957,500
67
10
34
12
Seller's
FL
South Walton
$1,274,520
$1,150,000
157
13
37
21
Seller's
FL
Tampa
$799,000
$630,000
79
31
33
5
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$699,900
$605,000
467
173
161
25
Seller's
HI
Island of Hawaii
$2,040,000
$1,625,000
34
10
18
5
Seller's
HI
Kauai
$1,750,000
$1,255,000
41
19
15
15
Seller's
HI
Maui
$2,850,000
$1,927,000
27
8
40
91
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
$1,365,000
$910,000
329
96
101
16
Seller's
$634,950
$585,000
30
16
33
8
Seller's
-
-
-
-
-
-
-
HI
Oahu
ID
Ada County
ID
Northern Idaho
IL
Chicago
$1,150,000
$950,000
843
319
176
36
Balanced
IL
DuPage County
$694,500
$654,500
48
21
8
72
Balanced
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
KS
Johnson County
$606,719
$600,605
48
13
16
21
Seller's
MA
Greater Boston
$2,699,000
$1,980,900
427
194
81
37
Balanced
MD
Anne Arundel County
$557,990
$550,000
49
28
53
10
Seller's
MD
Montgomery County
$747,000
$707,500
130
61
100
14
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$750,000
$705,750
73
27
32
17
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$829,700
$627,929
52
19
23
28
Seller's
MI
Washtenaw County
$635,000
$605,000
37
7
11
38
Seller's
MI
Wayne County
$669,500
$614,343
62
14
16
29
Seller's
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$779,000
$587,000
133
40
59
8
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$773,200
$824,750
20
10
10
19
Seller's
NV
Lake Tahoe
$1,950,000
$950,000
11
6
1
34
Buyer's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,399,000
$1,120,000
517
110
73
56
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
NY
Nassau County
$1,650,000
$1,280,000
89
7
30
55
Seller's
NY
Suffolk County
$749,995
$627,500
117
29
58
27
Seller's
OH
Cincinnati
$758,090
$585,000
26
1
7
35
Seller's
ON
GTA - Durham
$749,990
$775,000
11
10
35
5
Seller's
ON
GTA - York
$788,000
$755,000
121
139
122
8
Seller's
ON
Oakville
$2,900,000
$1,412,500
11
6
4
17
Seller's
ON
Toronto
$1,270,995
$1,140,000
698
621
329
8
Seller's
ON
Waterloo Region
$925,000
$774,000
18
11
7
7
Seller's
QC
Montreal
$1,192,500
$1,075,000
100
39
37
11
Seller's
SC
Charleston
$906,500
$1,100,000
82
25
33
8
Seller's
TN
Nashville
$849,900
$640,000
77
40
50
10
Seller's
TX
Austin
$849,945
$744,500
116
64
62
11
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$815,000
$655,000
143
49
37
20
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$649,000
$596,000
146
47
30
36
Balanced
TX
San Antonio
$699,000
$650,000
33
10
5
101
Balanced
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,400,000
$1,815,000
32
7
37
5
Seller's
UT
Salt Lake City
$530,000
$570,395
79
22
49
10
Seller's
VA
Arlington & Alexandria
$1,098,950
$954,250
98
55
54
8
Seller's
VA
Charlottesville
$1,085,000
$577,450
20
6
12
30
Seller's
VA
Fairfax County
$743,080
$695,000
198
102
136
8
Seller's
VA
McLean & Vienna
$1,174,000
$949,990
34
14
13
5
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,118,641
$950,000
222
87
161
6
Seller's
WA
Seattle
$1,598,000
$1,392,000
93
23
37
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.