LU X U RY MARKET RE P O R T - January 2019 -
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 © 2018 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 annually. 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 indepth 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 exceeds 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.
“For the next generation, wealth is not seen in terms of materialistic items but rather ‘time, rarity and experiences.’ Today’s fast pace of life being driven by technology and global expansion, which is fueled by considerable financial investment, are making today’s wealthy realize that they have to find balance.”
NORTH AMERICAN D EC E M B E R LUXURY REVIEW 2 0 1 8 Welcome to 2019 and our review of the previous year, 2018, in conjunction with the current luxury market in North America (US and Canada). In a snapshot, 2018 - despite pessimist forecasts in the 4th quarter - gave us a year of fairly strong consistency with no dramatic up or down swings in sales, inventory and pricing. Some markets certainly fared better than others, but in general terms 2018 should be remember as the start of “change” in terms of purchasing power, preferences, and demand. At The Institute’s premier networking event in November, Lesley Appleton-Young, Chief Economist for the California Association of REALTORS®, gave the attendees a larger picture analysis by comparing 2018 against the previous 10 years. Her masterful in-depth review of the current real estate market highlighted all the variables from inventory and pricing to equity markets, job growth, home equity, inflation, and personal wealth, all of which impact the demand and supply, coining our current situation as moving from “Great to Good.” President of The Institute, Diane Hartley, emulated these thoughts, adding “2019 will actually be a year of opportunity for both sellers and buyers provided that they remain agile, innovative and adaptable to their local market influences.” A review of December 2018’s Market Statistics for North America. In review of December’s luxury property sales there was seemingly a significant decline of 7.5%; not unexpected as this is typically one of the slowest months of the year. More importantly, when compared to December 2017 there is very little difference in the number of sales, consolidating predictions that the market is changing its demand - perhaps there is a slight softening, but certainly no dramatic decline. Inventory decreased month over month, again this is not unexpected for the time of year, but is significantly higher against December 2017. Predictions are that this now offers opportunity for buyers who previously found it difficult to compete, which could result in increased sales in 2019. In looking at the trends for luxury sales prices, medians have held a very steady line over the past 13
months, hovering around $1.4 Million for single-family homes and $900,000 for attached homes. This overall trend offers solid evidence towards Appleton-Young’s viewpoint. As is true that the presence and absence of landmark sales can sway individual markets in significant directions, the North American luxury market has provided a level of consistency and reliability in 2018. Changes in Luxury Real Estate Demographics 2018 can also be remembered as solidifying the change of ownership for luxury real estate – in a report distributed in September 2018 by Wealth-X, it was noted that 67.4% of the ultra-wealthy were “selfmade,” 21.7% compromised the blend of “inherited and self-made,” with only 10.9% purely ‘inherited wealth.” WEALTH SOURCE Understanding how this wealth has been generated and by whom will be key to understanding both today’s requirements and future expectations of the type of real estate that will be in demand.
10.9%
Inherited
67.4%
Self-made
21.7%
Inherited/ self-made
For the next generation, wealth is not seen in terms of materialistic items but rather “time, rarity and experiences.” Today’s fast pace of life is being driven technology and global expansion, fueled by considerable financial investment, making today’s wealthy realize that they have to find balance. Source: Wealth-X, 2017
In a recent article by Jim Walberg, one of the Top 1% of REALTORS nationwide, he expounded on the theory of Psychology Professor Thomas Gilovich of Cornell University “happiness is derived from experiences, not things.” Jim’s own experiences showed that this change in how people define “luxury” was becoming more evident in the choices they made in home purchases. “Luxury, from their perspective, is the enjoyment of the best of life, and it takes a conscious effort to seek it out. The words used over and over again were, ‘It must be worth it.’” Indeed, in a Wealth-X study of the Top 20 interests of the ultra-wealthy above and below 40 found that where Business was ranked no 1 for 40+ for under 40s it was sports! Here is a snap shot of the Top 5 of that Top 20 list.
TOP 20 INTERESTS (by Age Group) 40-70
<40
>70
Rank Hobby Name
% of all UHNW
Rank Hobby Name
% of all UHNW
Rank Hobby Name
% of all UHNW
1
Sports
50.4%
1
Business
60.9%
1
Business
55.2%
2
Business
48.7%
2
Sports
35.9%
2
Philanthropy
49.3%
3
Technology
29.6%
3
Philanthropy
34.3%
3
Sports
33.6%
4
Philanthropy
24.3%
4
Finance
32.2%
4
Finance
25.4%
5
Finance
22.7%
5
Outdoors
19.2%
5
Education
23.9%
6
Travel
22.0%
6
Public Speaking
18.9%
6
Outdoors
21.7%
7
Music
19.3%
7
Education
17.7%
7
Art
20.7%
8
Family
16.7%
8
Technology
17.4%
8
Politics
19.2%
As reviewed in November’s Luxury Market Report, real estate requirements of the affluent have also changed significantly over the past few years with properties being purchased to suit both home, business and lifestyle requirements, often interlinked with each other. Global entrepreneurs require homes in numerous locations for business purposes – so key destinations throughout the world have become their focus, creating striking increases in demand for downtown city locations. In the midst of a world were speed and instant gratification are at a touch of a button – there has been a growing recognition for a need to find time for peace and relaxation. Consumer demand for wellness lifestyle real estate and communities is on the rise globally. Changes in Luxury Real Estate by Design 2018 marked the downward trend for “mega mansions” – not to say that homes of magnificent size and value are not being built and purchased – but volume of demand has significantly dropped. Developers have been quick to respond to this change in demand and new projects offering both convenience of location blended with lifestyle and amenities have been masterly planned – both in cities and destination environments. These properties have to be more than stopping off locations for a week here and there, they have to offer the full home experience allowing executives to live, play, and work – and bring their family and pets with them too! Design changed significantly this year – big, bold and architecturally stunning combined with technology, well-being, sense of space, and the creation of an experience! As a perfect blend of current trends towards creating experiences and the desire for relaxation, 2018 was also the year of “Hygge” /'h(y)o͞ oɡə,'ho͝ oɡə/ - a Danish word that has no English equivalent but best described as “a way of thinking, decorating, and living that invokes a sense of relaxed happiness and brings about a feeling of home.” Perhaps these changes have emerged in the wake of so many disasters over the last two years, the establishment of new standards and expectations of quality both in materials and architecture have been a strong concern for many a new purchaser. Predictions for 2019 from all the traditional sources eg. Brokerages, Real Estate Associations, Real Estate Media, as usual run the gambit good to impending disaster. In reality, with the growing number of ultrawealthy and increasing population looking for homeownership in the lower priced markets, it is fairly safe to predict that the overall supply of inventory in North America for 2019 will not outweigh demand. However, this will not cause the dramatic increase of prices experienced over the last 10 years and today’s luxury market demand is only predicted to remain strong in the luxury condo, ‘experience’ destinations, and globally accessible communities throughout North America.
– 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.
DAYS ON MARKET
80
60
66
65
59
47 40
42
48 40
47
40
41 32
32
35
29
32
32
MAY
JUN
34
56
54
53
49
46
40
39
AUG
SEP
42
46
20
0
DEC
JAN
FEB
MAR
APR
JUL
OCT
NOV
DEC
$488 $365
$458 $386
$486 $348
$495 $329
$331
$350
$465
$472
$504 $354
$477 $357
$466 $357
$462 $347
$440
$453 $335
$300
$338
$400
$486
$500
$323
PRICE PER SQUARE FOOT
$600
$200
$100
$0
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
NOV
DEC
SALES PRICE VS. LIST PRICE
$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
Discrepancies between statistics published between the November 2018 and December 2018 Luxury Market Reports are due to the addition of Honolulu, HI.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month November 2018 | December 2018
SINGLE-FAMILY HOMES November
December
Median List Price
$1,695,000 $1,700,000
Total Inventory
Median Sale Price
$1,462,500 $1,455,250
New Listings
Median SP/LP Ratio
96.85%
96.53%
Total Sold
Total Sales Ratio
12.66%
13.67%
Median Days on Market
$386
$365
Median Price per Sq. Ft.
November
December
38,993
33,600
7,721
4,721
4,936
4,594
49
56
3,683
3,783
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
7
1.01%
Days on Market
Sales Ratio
7,250
3,000
342
$
New Listings
Total Sold
Med. Sale Price
SINGLE-FAMILY HOMES MARKET SUMMARY | NOVEMBER 2018 •
Official Market Type: Buyer's Market with a 13.67% Sales Ratio.1
•
Homes are selling for an average of 96.53% of list price.
•
The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,455,250.
•
Markets with the Highest Median Sales Price: Vail ($6,937,500), LA Beach Cities ($3,582,500), Silicon Valley ($3,300,000), and Vancouver ($3,200,000).
•
Markets with the Highest Sales Ratio: San Francisco (117%), Silicon Valley (55%), Sacramento (42%), and Seattle (35%).
1
Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set in December of each year by The Institute for Luxury Home Marketing.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month November 2018 | December 2018
ATTACHED HOMES November
December
Median List Price
$999,000
$1,012,000
Median Sale Price
$908,827
$922,000
97.94%
Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
November
December
15,354
13,882
New Listings
3,216
2,036
97.79%
Total Sold
1,824
1,659
11.88%
11.95%
Median Days on Market
42
46
$458
$488
1,970
2,082
Total Inventory
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
Days on Market
13,173
1,180
165
$
New Listings
Total Sold
Med. Sale Price
4
0.07% Sales Ratio
ATTACHED HOMES MARKET SUMMARY | NOVEMBER 2018 •
Official Market Type: Buyer's Market with an 11.95% Sales Ratio.1
•
Attached homes are selling for an average of 97.79% of list price.
•
The median luxury threshold2 price is $702,450, and the median attached luxury sale price is $1,012,000.
•
Markets with the Highest Median Sales Price: Vail ($6,612,500), San Francisco ($2,250,000), Park City ($2,025,000), and Greater Boston ($1,929,500).
•
Markets with the Highest Sales Ratio: Silicon Valley (113%), Arlington & Alexandria (90%), Fairfax County (58%), and San Francisco (47%).
1
Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set in December of each year 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
$1,169,000
$955,000
434
72
43
67
Buyer's
AZ
Paradise Valley
$3,073,500
$2,312,500
242
33
14
81
Buyer's
AZ
Phoenix
$724,700
$651,000
749
134
121
63
Balanced
AZ
Scottsdale
$1,605,000
$1,250,000
869
104
72
68
Buyer's
AZ
Tucson
$775,000
$690,000
655
74
67
32
Buyer's
BC
Okanagan Valley
$1,749,500
$1,290,000
152
13
5
153
Buyer's
BC
Vancouver
$3,998,000
$3,200,000
1,007
128
27
50
Buyer's
BC
Victoria
$1,850,000
$1,505,000
255
26
32
46
Buyer's
CA
Los Angeles Beach Cities
$4,695,000
$3,582,500
280
37
42
40
Balanced
CA
Los Angeles City
$4,495,000
$3,050,000
669
84
93
39
Buyer's
CA
Los Angeles The Valley
$2,150,000
$1,800,000
423
58
107
54
Seller's
CA
Marin County
$4,645,000
$2,635,050
50
3
16
42
Seller's
CA
Napa County
$2,795,000
$1,937,500
79
7
16
64
Balanced
CA
Orange County
$2,395,000
$1,900,000
1,386
189
175
55
Buyer's
CA
Palm Springs & Palm Desert
$1,867,000
$1,625,000
612
103
42
61
Buyer's
CA
Placer County
$1,125,000
$899,000
155
17
47
34
Seller's
CA
Sacramento
$781,820
$718,500
516
109
219
24
Seller's
CA
San Diego
$2,295,000
$1,647,500
936
154
190
44
Balanced
CA
San Francisco
$4,597,500
$3,110,000
24
5
28
25
Seller's
CA
Santa Barbara
$3,795,000
$3,055,000
232
20
29
60
Buyer's
CA
Silicon Valley
$3,998,000
$3,300,000
155
27
86
25
Seller's
CA
Ventura County
$1,999,500
$1,442,500
272
37
52
73
Balanced
CO
Boulder
$1,700,000
$1,417,500
126
13
40
83
Seller's
Median prices represent properties priced above respective city benchmark prices.
– 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
$968,000
$796,394
775
114
267
38
Seller's
CO
Douglas County
$1,299,950
$1,100,000
217
15
33
41
Balanced
CO
Vail
$4,500,000
$6,937,500
135
10
4
158
Buyer's
DC
Washington D.C.
$2,995,000
$2,087,500
53
4
10
29
Balanced
$2,124,550
$1,735,000
626
99
28
179
Buyer's
$1,674,450
$1,823,000
88
16
10
71
Buyer's
FL FL
Boca Raton & Delray Beach Costal Pinellas County Towns
FL
Greater Fort Lauderdale
$1,299,000
$950,000
1,580
216
113
81
Buyer's
FL
Jacksonville Beaches
$1,199,000
$1,230,000
280
27
20
53
Buyer's
FL
Miami
$1,350,000
$850,000
1,471
190
82
90
Buyer's
FL
Naples
$1,895,000
$1,500,000
1,354
182
70
89
Buyer's
FL
Orlando
$1,599,450
$1,672,500
482
61
40
80
Buyer's
FL
Palm Beach Towns
$3,295,000
$1,432,500
407
47
16
115
Buyer's
FL
Sarasota & Beaches
$1,677,000
$1,637,500
592
79
34
72
Buyer's
FL
Tampa
$758,400
$669,990
699
93
115
56
Balanced
GA
Atlanta
$1,195,000
$955,000
1,083
145
125
43
Buyer's
HI
Honolulu
$3,195,000
$2,237,500
211
28
14
52
Buyer's
HI
Kauai
$2,495,000
$1,420,000
149
19
8
90
Buyer's
HI
Maui
$2,989,000
$1,780,000
223
41
8
58
Buyer's
IL
Chicago
$1,274,950
$1,010,000
1,276
150
144
93
Buyer's
MA
Greater Boston
$2,990,000
$2,300,000
72
11
13
56
Balanced
MD
Montgomery County
$1,749,000
$1,500,000
233
21
39
62
Balanced
MD
Talbot County
$1,895,000
$1,737,500
97
7
2
273
Buyer's
Median prices represent properties priced above respective city benchmark prices.
– 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
$1,024,400
N/A
46
2
0
N/A
Buyer's
MD
Worchester County
MI
Oakland County
$724,935
$647,500
904
135
122
33
Buyer's
MO
St. Louis
$749,000
$692,500
149
14
36
68
Seller's
NC
Charlotte
$890,573
$775,000
843
95
131
51
Balanced
NC
Raleigh-Durham
$707,532
$670,528
847
96
188
0
Seller's
NV
Las Vegas
$740,000
$623,990
1,511
284
213
38
Buyer's
NY
Brooklyn
$1,464,000
$1,225,000
154
30
9
44
Buyer's
NY
Staten Island
$1,275,988
$1,041,750
153
13
18
104
Buyer's
ON
GTA - York
$2,298,000
$1,902,500
525
119
30
25
Buyer's
ON
Toronto
$3,450,000
$3,019,000
287
50
18
36
Buyer's
TN
Nashville
$989,500
$935,000
330
59
70
30
Seller's
TX
Austin
$987,000
$849,000
467
79
145
46
Seller's
TX
Collin County
$699,400
$670,000
739
94
119
95
Balanced
TX
Dallas
$1,029,500
$899,000
564
79
113
59
Balanced
TX
Fort Worth
$899,000
$740,000
621
84
119
83
Balanced
TX
Houston
$830,000
$747,000
1,618
264
271
47
Balanced
TX
The Woodlands & Spring
$775,000
$728,500
387
50
64
32
Balanced
UT
Park City
$3,450,000
$2,279,474
274
50
15
81
Buyer's
VA
Arlington & Alexandria
$1,924,950
$1,610,000
64
6
14
44
Seller's
VA
Fairfax County
$1,679,000
$1,506,880
395
48
57
69
Buyer's
VA
McLean & Vienna
$1,895,000
$1,682,127
178
25
27
83
Balanced
WA
Seattle
$1,750,000
$1,468,000
163
23
57
33
Seller's
Median prices represent properties priced above respective city benchmark prices.
â&#x20AC;&#x201C; LUXURY MONTHLY MARKET REVIEW â&#x20AC;&#x201C; ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$799,900
$770,000
230
41
17
58
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$724,900
$618,000
161
34
25
53
Balanced
AZ
Tucson
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,998,000
$1,714,000
572
73
26
39
Buyer's
BC
Victoria
$799,900
$815,000
194
40
26
42
Buyer's
CA
Los Angeles Beach Cities
$1,654,500
$1,408,000
154
20
45
27
Seller's
CA
Los Angeles City
$1,597,000
$1,264,500
274
50
64
23
Seller's
CA
Los Angeles The Valley
$697,000
$700,000
92
15
43
37
Seller's
CA
Marin County
$1,117,500
$1,007,500
10
1
4
32
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,025,000
$919,000
408
75
98
52
Seller's
CA
Palm Springs & Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,065,000
$859,000
459
99
81
46
Balanced
CA
San Francisco
$2,595,000
$2,250,000
49
3
23
45
Seller's
CA
Santa Barbara
$1,775,000
$1,275,000
38
1
2
46
Buyer's
CA
Silicon Valley
$1,458,138
$1,475,000
54
12
61
19
Seller's
CA
Ventura County
$718,911
$760,000
59
5
19
59
Seller's
CO
Boulder
$872,111
$741,500
51
7
14
54
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.
â&#x20AC;&#x201C; LUXURY MONTHLY MARKET REVIEW â&#x20AC;&#x201C; ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Denver
$689,000
$600,551
395
62
120
25
Seller's
CO
Douglas County
$634,000
$787,668
20
3
8
31
Seller's
CO
Vail
$3,924,500
$6,612,500
94
7
6
87
Buyer's
DC
Washington D.C.
$1,920,000
$1,465,000
150
24
32
31
Seller's
$814,897
$705,000
398
61
33
59
Buyer's
$873,098
$925,000
120
24
17
18
Buyer's
$850,000
$761,250
1,249
151
50
64
Buyer's
FL FL
Boca Raton & Delray Beach Costal Pinellas County Towns
FL
Greater Fort Lauderdale
FL
Jacksonville Beaches
$1,397,500
$1,000,000
60
12
6
92
Buyer's
FL
Miami
$999,000
$865,000
3,041
302
60
230
Buyer's
FL
Naples
$2,055,000
$1,875,000
369
59
25
31
Buyer's
FL
Orlando
$704,500
$700,000
74
13
7
20
Buyer's
FL
Palm Beach Towns
$1,297,000
$1,250,000
368
67
15
47
Buyer's
FL
Sarasota & Beaches
$1,250,000
$965,000
265
30
15
158
Buyer's
FL
Tampa
$783,950
$606,000
108
27
20
31
Balanced
GA
Atlanta
$659,900
$602,274
456
51
56
64
Buyer's
HI
Honolulu
$1,350,000
$1,080,000
437
92
29
40
Buyer's
HI
Kauai
$1,295,000
$1,249,500
77
11
4
30
Buyer's
HI
Maui
$1,750,000
$1,563,750
153
39
14
149
Buyer's
IL
Chicago
$1,250,000
$975,000
608
74
83
105
Buyer's
MA
Greater Boston
$2,450,000
$1,929,500
173
17
48
20
Seller's
MD
Montgomery County
$782,495
$686,000
112
21
51
46
Seller's
MD
Talbot County
-
-
-
-
-
-
-
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
MD
Worchester County
$649,950
$700,000
96
7
7
224
Buyer's
MI
Oakland County
$799,450
$549,500
72
13
5
60
Buyer's
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$695,000
$625,802
131
15
22
44
Balanced
NC
Raleigh-Durham
-
-
-
-
-
-
-
NV
Las Vegas
-
-
-
-
-
-
-
NY
Brooklyn
$1,330,000
$1,185,000
510
82
61
82
Buyer's
NY
Staten Island
-
-
-
-
-
-
-
ON
GTA - York
$750,000
$687,000
105
25
8
34
Buyer's
ON
Toronto
$1,284,000
$1,200,000
266
79
69
21
Seller's
TN
Nashville
$770,000
$562,000
96
21
12
27
Buyer's
TX
Austin
$774,950
$644,931
168
27
26
59
Balanced
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$694,900
$751,900
189
28
28
73
Buyer's
TX
Ft. Worth
-
-
-
-
-
-
-
TX
Houston
$625,000
$630,000
177
28
23
46
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$1,895,000
$2,025,000
181
24
10
140
Buyer's
VA
Arlington & Alexandria
$1,109,500
$1,006,450
48
12
43
69
Seller's
VA
Fairfax County
$724,900
$675,000
102
32
59
49
Seller's
VA
McLean & Vienna
$998,300
$958,785
17
6
5
34
Seller's
WA
Seattle
$1,199,950
$1,175,000
96
7
17
40
Balanced