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LUXURY MARKET REPORT
MARCH 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.
“Northern California’s East Bay region topped the charts as people relocated in large numbers out of San Francisco in search of less dense living. Colorado Springs, already identified in 2019 as a “market to watch,” also saw substantial increase in demand as Denver’s ever-increasing prices and adaptation to working from home allowed for purchasing homes outside the metropolitan area. ”
NORTH AMERICAN LUXURY REVIEW In recent reports released by world renowned luxury real estate experts Coldwell Banker Global Luxury, Wealth-X and Sotheby’s International, all agree that amid the COVID-19 pandemic and global political instability, ‘home’ has never been so important. The combination of travel and multiple home ownership pre-COVID was significant on a percapita basis for the world’s wealthy. Post pandemic, priorities have changes from seeking out new experiences and adventures towards finding homes in markets that offered safety, more space, and well-being. This transition was realized worldwide, creating unexpected demand for changes in property types, locations, and amenities. Coldwell Banker Global Luxury’s Report 2021, encapsulates the ongoing trends created in 2020, and showcases the significant resilience of luxury real estate. “Home became the center of people’s lives in 2020. Agents became even more highly valued as clients relied on their expertise to guide them through their transactions. Industry strength carried over into other arenas, like real estate stock gains. Efforts to safeguard wealth led people to cast wider nets into real estate, stocks, art, technology, gaming, and other niches; many accelerated plans to move to tax friendlier locales. Ideas about wealth itself also shifted as the affluent set sights on ‘intangible luxuries,’ like family, health, safety, security and space. The search for intangibles created new demographic groups, called ‘affluent trailblazers,’ who relocated from cities to small town hidden gems, suburbs, and popular second home destinations in 2020. These shifts also triggered a reversal of the ‘less is more’ trend of the last few years, with mega-mansions, compounds, private islands and large estates staging a comeback.”
In the US, statistics show that the luxury home prices for single family homes rose on average 8% last year and are expected to continue at this record-breaking rate for the early part of 2021. In Canada, expectations are for the luxury market to rise as much as 8% in 2021 too. Accordingly to Coldwell Banker’s President and Chief Executive Officer, M. Ryan Gorman, the statistics uncovered in their recent report “point to a promising luxury home market with a strong starting position as we move further into this year.” He also states that, “there were many bright spots around the country and the world, as people adjusted their notions of home and sought fully amenitized retreats where they could live, work, and eventually entertain in place.” In this report, they identified four markets that stood out amount the top performers in the US, specifically based on comparing high sales ratio percentages. Their choice of parameter to measure performance was guided by the escalating number of luxury property sales and the importance of understanding this impact on the level of inventory available. Increased sales does not always mean that inventory levels drop, especially in the luxury market when properties typically take longer to sell, but in 2020 the swing was dramatic with many markets becoming seller-controlled for the first time in many years. Northern California’s East Bay region topped the charts as people relocated in large numbers out of San Francisco in search of less dense living. Colorado Springs, already identified in 2019 as a “market to watch,” also saw substantial increase in demand as Denver’s ever-increasing prices and adaptation to working from home allowed for purchasing homes outside the metropolitan area. Low interest rates gave DC and Arlington-area millennials the unexpected opportunity to trade their condos and move into townhomes in Fairfax County in Virginia, also driven by the ability to work from home. Whereas in King County, WA, the demand for single-family homes soared when the ever-increasing number of employees working for Apple and Amazon in Seattle realized they too could move further afield and leverage these companies’ “long term work from home” guarantee. Much has been stated in the real estate news about the relocation of homeowners out of the major metropolises, and Coldwell Banker Global Luxury’s report seeks to clarify each of the top seven markets in the US and five in Canada, to understand the true impact of the pandemic.
What may be surprising to many is that overall, the impact was not as dramatic as the initial reports in April, May, and June portrayed. Downtown and high-density areas did see their affluent depart for second homes or purchase homes in exurbia areas, but interestingly the percentage that sold their home was not as great as expected. Many kept their city home and merely swapped the location of their first home – at least until the pandemic is over. Several key trends did appear for those that sold, insomuch as the affluent upsized to larger apartments, with more square footage, private elevators, outdoor patios, and the ability to upgrade air filtration, while others chose to move into townhomes and/or slightly further away into the suburbs to purchase a single-family home. According to Wealth-X in their recent report, Residential Real Estate 2021: Leading Markets for the Wealthy, New York still remains the global preeminent city of the wealthy, with Los Angeles ranking second, followed by London, Hong Kong, and Paris. A recent new study, published by nonpartisan California Policy Lab, does show that San Francisco was impacted greatly with a staggering 649% jump in relocations. However, they quickly qualified that these relocators didn’t go very far, moving within the 11-county Bay Area, with over 80% remaining in California. As for the wealthy and the rumors of their departure from California, statistics show no indication of mass relocation. Joel Goodrich of Coldwell Banker Realty in San Francisco qualified that in his experience, the exodus outside of the Bay Area has mainly been to Napa, Sacramento, and Lake Tahoe. In Los Angeles, Jade Mills of Coldwell Banker Realty in Beverly Hills, shared that her clients were staying local although upsizing into larger properties and moving to areas such as Malibu, Manhattan Beach, and up into Beverly Hills rather than staying in the more densely populated areas of LA. Interestingly, her clientele has changed from 50% international to more than 80% being US buyers in the US$20 million range. Miami, another of the US’s wealthiest cities, has seen an upsurge in their numbers – again driven by US buyers rather than their typical international purchaser. Jill Eber of Coldwell Banker Realty in Miami shared, “single-family homes exploded initially, and condos took off once important amenities like pools were reopened and people became more comfortable with accessibility in the new normal.”
The metropolitan cities of Canada saw similar trends with abrupt halts to their real estate markets in March, April and May, after which their luxury markets have seen significant increases in demand and pricing as well as falling inventory levels. Downtown cores in Toronto and Vancouver did see their condo market take longer to recover, but larger properties throughout the metropolitan city areas and in more suburban areas saw unprecedented demand. Ottawa saw its luxury market’s median price point increase 25.53% for single-family homes and 4.71% for luxury condos, as Raymond Chin of Coldwell Banker First Ottawa Realty explained “homes a short drive outside the city became more popular with homeowners who may not be required to go back to work every day in the city.” Similar trends are being reported in Europe, Asia, and Central and South America, with high-networth buyers not only investing in popular vacation destinations, but choosing to make these residences their primary homes, for the foreseeable future. Equally, many of these buyers are tending to hold on to their urban residences, using them as second homes or pieds-à-terre, enjoying the opportunity to work from home in their new primary home locations. There are increasing reports of large compound style residences as well as crumbling chateaus, castles, and large private estates being repurposed to suit the affluent’s new requirements. Vacation locations from the Caribbean islands to ski resorts have seen robust price increases with some destination locales reporting homes being bought sight unseen. For homeowners looking to sell or buy their luxury home in today’s market, we recommend working with a luxury real estate professional who can provide you with critical knowledge about your local market, maintain a high level of security and safety during the process, and who knows how to leverage technology and strategies to provide maximum exposure and assistance.
– 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. 80
43 42
38
38
33
38
34
33
30
31
33
FEB
MAR
30
27
20
0
31
APR
MAY
JUN
JUL
AUG
SEP
$457
55 40
$465
DAYS ON MARKET
63 60
30 34
38
32
35
35
37
DEC
JAN
34 28 27
OCT
NOV
FEB
SALES PRICE VS. LIST PRICE
$476 $388
$488 $377
$494 $376
$482 $370
$500 $377
$378
$362
$499 $369
$472 $330
$353
$448
$463
$350
$300
$340
$471
$400
$486
$500
$367
PRICE PER SQUARE FOOT
$600
$200
$100
$0
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
JAN
FEB
$1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Year over Year February 2020 | February 2021
SINGLE-FAMILY HOMES Feb. 2020
Feb. 2021
Feb. 2020
Feb. 2021
Median List Price
$1,597,000 $1,749,000
Total Inventory
43,204
23,745
Median Sale Price
$1,320,000 $1,364,442
New Listings
12,030
7,528
5,669
10,593
63
32
3,613
3,544
Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
97.07%
98.39%
Total Sold
13.12%
45.12%
Median Days on Market
$367
$388
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
19,459
4,924
New Listings
Total Sold
31
32%
Med. Sale Price
Days on Market
Sales Ratio
44,442
$
SINGLE-FAMILY HOMES MARKET SUMMARY | FEBRUARY 2021 •
Official Market Type: Seller's Market with a 45.12% Sales Ratio.1
•
Homes are selling for an average of 98.39% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,364,442.
•
Markets with the Highest Median Sales Price: Vail ($4,100,000), Los Angeles Beach Cities ($3,805,000), Oakville ($3,800,000), and Maui ($3,550,000).
•
Markets with the Highest Sales Ratio: Ada County (339%), GTA-Durham (325%), Austin (193%) and East Bay (164%). 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 February 2020 | February 2021
ATTACHED HOMES Feb. 2020
Median List Price
Feb. 2021
$1,049,500 $1,057,500
Median Sale Price
Feb. 2020
Feb. 2021
16,619
12,581
New Listings
4,476
3,566
2,440
3,666
54
37
2,032
1,950
Total Inventory
$867,500
$887,000
Median SP/LP Ratio
98.08%
98.75%
Total Sold
Total Sales Ratio
14.68%
29.14%
Median Days on Market
$471
$476
Median Price per Sq. Ft.
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
910
1,226
New Listings
Total Sold
19,500
$
Med. Sale Price
17
14.46%
Days on Market
Sales Ratio
ATTACHED HOMES MARKET SUMMARY | FEBRUARY 2021 •
Official Market Type: Seller's Market with a 23.14% Sales Ratio.1
•
Attached homes are selling for an average of 98.75% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $887,000.
•
Markets with the Highest Median Sales Price: Vail ($3,095,000), San Francisco ($2,275,000), Park City ($2,225,000), and Greater Boston ($2,000,000).
•
Markets with the Highest Sales Ratio: GTA-Durham (325%), Ada County (200%), GTA-York (165%) and Fairfax County (162%). 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
$1,198,944
$999,900
444
239
135
27
Seller's
AZ
Paradise Valley
$4,247,500
$2,750,000
106
36
51
55
Seller's
AZ
Phoenix
$1,150,000
$795,000
189
85
220
40
Seller's
AZ
Scottsdale
$2,500,000
$1,655,000
311
97
192
54
Seller's
AZ
Tucson
$850,000
$658,500
321
107
166
13
Seller's
BC
Greater Victoria
$2,500,000
$2,350,000
43
19
9
56
Balanced
BC
Okanagan Valley
$1,800,000
$1,330,000
284
109
89
40
Seller's
BC
Vancouver
$4,689,000
$3,450,000
656
230
153
14
Seller's
CA
Central Coast
$4,200,000
$2,293,000
149
40
51
31
Seller's
CA
East Bay
$2,469,000
$1,855,000
157
115
257
8
Seller's
CA
Lake Tahoe
$2,988,000
$2,188,000
83
25
73
72
Seller's
CA
Los Angeles Beach Cities
$5,299,500
$3,805,000
348
106
88
48
Seller's
CA
Los Angeles City
$5,150,000
$3,535,000
745
223
111
48
Buyer's
CA
Los Angeles The Valley
$3,124,500
$2,040,000
282
116
123
22
Seller's
CA
Marin County
$4,500,000
$3,412,500
61
10
20
12
Seller's
CA
Napa County
$2,785,000
$2,255,000
74
4
6
84
Buyer's
CA
Orange County
$3,397,000
$2,275,000
626
186
295
21
Seller's
CA
Palm Springs/Palm Desert
$2,524,750
$1,543,500
180
53
131
54
Seller's
CA
Placer County
$1,175,000
$928,418
111
24
62
9
Seller's
CA
Sacramento
$963,500
$781,000
304
59
146
7
Seller's
CA
San Diego
$3,300,000
$1,855,050
419
141
289
14
Seller's
CA
San Francisco
$4,500,000
$3,455,000
80
19
54
12
Seller's
CA
San Luis Obispo County
$1,899,000
$1,465,000
84
21
41
N/A
Seller's
CA
Santa Barbara
$5,250,000
$3,127,500
121
43
54
33
Seller's
CA
Silicon Valley
$5,000,000
$3,200,000
276
134
204
9
Seller's
CA
Ventura County
$2,862,500
$1,697,500
128
57
62
25
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
Boulder
$2,345,000
$1,725,000
126
28
50
57
Seller's
CO
Colorado Springs
$1,280,000
$927,500
73
28
40
10
Seller's
CO
Denver
$1,575,000
$990,000
260
120
339
6
Seller's
CO
Douglas County
$1,675,000
$1,033,224
81
29
92
5
Seller's
CO
Durango
$1,512,500
$1,055,000
54
8
9
119
Balanced
CO
Summit County
$3,722,500
$1,800,000
14
4
8
35
Seller's
CO
Vail
$6,695,000
$4,100,000
81
12
21
78
Seller's
CT
Central Connecticut
$699,900
$625,000
269
57
65
67
Seller's
CT
Coastal Connecticut
$2,350,000
$1,652,500
625
155
165
82
Seller's
DC
Washington D.C.
$5,100,000
$3,295,000
44
7
11
24
Seller's
FL
Boca Raton/Delray Beach
$2,990,000
$2,015,000
239
64
77
85
Seller's
FL
Coastal Pinellas Towns
$1,432,500
$1,490,000
30
9
11
64
Seller's
FL
Greater Fort Lauderdale
$1,749,000
$988,500
680
170
248
44
Seller's
FL
Jacksonville Beaches
$1,911,500
$1,200,000
56
19
42
28
Seller's
FL
Lee County
$1,699,000
$1,390,000
245
49
100
59
Seller's
FL
Miami
$1,499,000
$1,310,000
747
203
169
91
Seller's
FL
Naples
$2,995,000
$1,837,500
232
69
124
64
Seller's
FL
Orlando
$1,749,000
$1,400,000
261
55
83
70
Seller's
FL
Palm Beach Towns
$4,400,000
$2,937,500
123
33
40
107
Seller's
FL
Sarasota & Beaches
$1,734,000
$1,950,000
112
26
63
12
Seller's
FL
South Walton
$2,950,000
$2,070,000
113
28
52
26
Seller's
FL
Tampa
$975,000
$671,500
310
84
208
31
Seller's
FL
Weston
$1,350,000
$939,000
47
15
23
47
Seller's
GA
Atlanta
$1,385,000
$952,500
607
219
188
30
Seller's
HI
Island of Hawaii
$3,199,500
$1,632,500
94
24
36
24
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
HI
Kauai
$2,850,000
$1,899,500
84
20
14
40
Balanced
HI
Maui
$4,595,000
$3,550,000
125
22
29
130
Seller's
HI
Oahu
$3,697,500
$2,466,250
160
28
30
36
Balanced
ID
Ada County
$851,900
$689,000
38
38
129
3
Seller's
ID
Northern
$1,400,000
$967,901
93
38
60
57
Seller's
IL
Chicago
$1,549,000
$1,200,000
718
228
132
77
Balanced
IL
DuPage County
$1,175,000
$918,500
297
89
62
95
Balanced
IL
Lake County
$1,199,950
$845,000
326
90
65
107
Balanced
IL
Will County
$793,025
$587,500
139
26
46
33
Seller's
IN
Hamilton County
$949,900
$694,900
57
17
60
40
Seller's
MA
Greater Boston
$3,500,000
$2,802,000
89
38
21
44
Seller's
MD
Anne Arundel County
$1,100,000
$982,500
125
33
58
15
Seller's
MD
Montgomery County
$2,148,500
$1,465,000
106
29
67
7
Seller's
MD
Talbot County
$2,750,000
$1,650,000
37
5
9
65
Seller's
MD
Worcester County
$1,349,950
$985,000
34
12
6
58
Balanced
MI
Livingston County
$869,000
$900,000
37
6
5
93
Buyer's
MI
Monroe County
$685,250
$547,000
14
2
2
80
Buyer's
MI
Oakland County
$895,000
$640,000
441
162
155
24
Seller's
MI
Washtenaw County
$849,950
$689,000
102
31
19
50
Balanced
MI
Wayne County
$750,000
$615,000
163
37
42
21
Seller's
MO
St. Louis
$875,000
$675,000
75
14
49
35
Seller's
NC
Charlotte
$1,250,000
$797,000
298
98
196
16
Seller's
NC
Raleigh-Durham
$849,000
$654,900
351
126
265
2
Seller's
NJ
Ocean County
$895,000
$775,000
204
63
93
38
Seller's
NV
Las Vegas
$1,092,500
$755,000
442
167
360
28
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
NV
Reno
$2,349,900
$1,364,442
31
13
25
85
Seller's
NY
Brooklyn
$1,750,000
$1,432,497
249
42
16
67
Buyer's
NY
Nassau County
$1,895,000
$1,350,000
815
162
110
77
Buyer's
NY
Suffolk County
$1,600,000
$1,190,000
916
154
168
69
Balanced
ON
GTA - Durham
$1,699,450
$1,250,000
80
137
260
5
Seller's
ON
GTA - York
$2,688,000
$1,888,800
345
332
293
7
Seller's
ON
Oakville
$3,693,500
$3,800,000
50
30
3
16
Buyer's
ON
Toronto
$3,675,000
$3,100,000
223
181
157
10
Seller's
TN
Nashville
$1,239,950
$1,020,000
154
55
107
5
Seller's
TX
Austin
$1,572,500
$875,000
130
69
251
5
Seller's
TX
Collin County
$918,083
$710,000
152
65
184
10
Seller's
TX
Dallas
$1,150,000
$844,500
282
87
199
20
Seller's
TX
Denton County
$850,000
$725,000
125
49
113
19
Seller's
TX
Fort Worth
$1,108,750
$785,000
218
70
150
26
Seller's
TX
Houston
$850,000
$700,000
1,380
358
284
36
Balanced
TX
San Antonio
$937,500
$750,000
212
44
84
71
Seller's
TX
The Woodlands & Spring
$1,100,000
$679,724
191
60
83
21
Seller's
UT
Park City
$5,647,500
$3,423,803
74
21
32
16
Seller's
UT
Salt Lake City
$1,270,000
$1,025,000
78
31
93
50
Seller's
VA
Arlington & Alexandria
$2,199,000
$1,650,000
53
18
23
14
Seller's
VA
Fairfax County
$2,588,000
$1,511,500
231
59
88
19
Seller's
VA
McLean & Vienna
$2,797,500
$1,750,000
130
35
41
19
Seller's
VA
Richmond
$908,000
$735,000
137
38
43
6
Seller's
WA
Greater Seattle
$2,000,000
$1,601,500
463
148
382
6
Seller's
WA
Seattle
$2,200,000
$1,620,000
96
38
84
7
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
$899,999
$752,500
75
31
7
19
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$875,000
$674,000
137
54
100
37
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Greater Victoria
$899,450
$997,450
72
38
4
24
Buyer's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,989,000
$1,628,000
619
276
139
15
Seller's
CA
Central Coast
$1,395,000
$1,200,000
9
7
9
36
Seller's
CA
East Bay
$988,500
$990,000
80
39
69
7
Seller's
CA
Lake Tahoe
$1,985,000
$1,528,400
27
9
10
45
Seller's
CA
Los Angeles Beach Cities
$1,799,000
$1,599,000
161
46
41
23
Seller's
CA
Los Angeles City
$1,699,000
$1,367,500
341
105
52
29
Balanced
CA
Los Angeles The Valley
$875,000
$796,000
30
18
45
24
Seller's
CA
Marin County
$1,199,000
$1,062,500
17
3
6
53
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,185,662
$924,710
185
82
221
17
Seller's
CA
Palm Springs/Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,325,000
$855,000
265
113
217
20
Seller's
CA
San Francisco
$2,995,000
$2,275,000
95
26
31
33
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,999,000
$1,649,000
17
1
9
92
Seller's
CA
Silicon Valley
$1,688,888
$1,565,000
69
33
67
8
Seller's
CA
Ventura County
$850,000
$734,000
29
15
37
33
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
$1,057,500
$925,000
56
19
27
90
Seller's
-
-
-
-
-
-
-
CO
Boulder
CO
Colorado Springs
CO
Denver
$804,950
$629,500
184
55
106
34
Seller's
CO
Douglas County
$575,000
$540,750
3
2
4
3
Seller's
CO
Durango
$925,000
$779,500
8
1
2
121
Seller's
CO
Summit County
$2,693,000
$1,284,950
2
0
2
11
Seller's
CO
Vail
$3,995,000
$3,095,000
87
11
6
147
Buyer's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,050,000
$720,000
180
28
27
104
Balanced
DC
Washington D.C.
$1,985,000
$1,561,250
186
55
60
18
Seller's
FL
Boca Raton/Delray Beach
$1,195,000
$915,000
290
65
77
57
Seller's
FL
Coastal Pinellas Towns
$927,000
$855,000
52
16
34
18
Seller's
FL
Greater Fort Lauderdale
$881,000
$875,000
996
166
124
71
Buyer's
FL
Jacksonville Beaches
$1,219,500
$887,000
14
6
10
24
Seller's
FL
Lee County
$910,500
$799,950
180
46
64
41
Seller's
FL
Miami
$1,095,000
$1,070,000
2,208
329
157
210
Buyer's
FL
Naples
$2,595,000
$1,987,500
125
31
64
65
Seller's
FL
Orlando
$799,000
$850,000
54
15
15
43
Seller's
FL
Palm Beach Towns
$1,797,500
$1,445,500
198
47
58
62
Seller's
FL
Sarasota & Beaches
$2,159,000
$1,550,000
155
44
75
27
Seller's
FL
South Walton
$1,250,070
$1,375,000
116
17
37
56
Seller's
FL
Tampa
$949,900
$652,500
64
21
36
29
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$676,000
$589,000
494
183
111
36
Seller's
HI
Island of Hawaii
$3,075,000
$1,420,000
28
5
22
31
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
HI
Kauai
$1,700,000
$1,055,000
63
12
16
16
Seller's
HI
Maui
$1,850,000
$1,700,000
111
23
25
77
Seller's
HI
Oahu
$1,545,000
$1,049,000
316
67
52
78
Balanced
ID
Ada County
$709,000
$581,500
5
1
10
32
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,195,000
$908,803
893
237
104
108
Buyer's
IL
DuPage County
$714,900
$745,000
58
18
11
82
Balanced
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
MA
Greater Boston
$2,349,000
$2,000,000
271
73
36
54
Buyer's
MD
Anne Arundel County
$619,995
$537,500
24
9
20
7
Seller's
MD
Montgomery County
$819,000
$690,000
131
37
71
9
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$699,900
$644,500
51
10
24
49
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$749,000
$617,000
69
23
11
38
Balanced
MI
Washtenaw County
$729,000
$537,500
49
18
4
44
Buyer's
MI
Wayne County
$689,000
$717,500
49
11
4
38
Buyer's
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$775,000
$596,000
141
41
52
43
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$692,000
$733,000
12
3
7
46
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
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
-
-
-
-
-
-
-
NV
Reno
NY
Brooklyn
$1,388,000
$1,160,000
494
80
54
55
Buyer's
NY
Nassau County
$1,388,000
$1,145,000
131
24
19
143
Buyer's
NY
Suffolk County
$779,425
$610,000
104
29
32
62
Seller's
ON
GTA - Durham
$817,995
$725,500
8
5
26
4
Seller's
ON
GTA - York
$818,500
$720,000
66
81
109
11
Seller's
ON
Oakville
$2,274,500
$945,000
22
6
1
111
Buyer's
ON
Toronto
$1,359,000
$1,122,000
371
323
267
10
Seller's
TN
Nashville
$789,000
$702,280
105
31
21
33
Balanced
TX
Austin
$946,000
$655,000
124
41
61
45
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$969,900
$648,738
137
34
30
42
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$675,000
$586,250
159
47
20
21
Buyer's
TX
San Antonio
$699,000
$701,250
46
3
8
163
Balanced
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,500,000
$2,225,000
79
15
23
40
Seller's
UT
Salt Lake City
$839,500
$623,780
32
9
31
70
Seller's
VA
Arlington & Alexandria
$1,234,900
$1,069,950
65
26
62
7
Seller's
VA
Fairfax County
$859,990
$690,000
100
44
162
5
Seller's
VA
McLean & Vienna
$1,367,000
$872,000
35
11
9
4
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,176,567
$980,000
234
88
87
14
Seller's
WA
Seattle
$1,403,944
$1,205,000
118
28
15
84
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.