– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Year over Year March 2020 | March 2021
SINGLE-FAMILY HOMES March 2020
March 2021
March 2020 March 2021
Median List Price
$1,595,000 $1,799,000
Total Inventory
Median Sale Price
$1,315,000 $1,403,500
New Listings
Median SP/LP Ratio
97.25%
99.59%
Total Sold
Total Sales Ratio
17.48%
71.64%
Median Days on Market
$350
$402
Median Price per Sq. Ft.
Average Home Size
44,856
23,040
11,859
10,456
7,841
16,506
43
18
3,716
3,531
Median prices represent properties priced above respective city benchmark prices.
1,403
8,665
New Listings
Total Sold
25
54%
Med. Sale Price
Days on Market
Sales Ratio
44,442
$
SINGLE-FAMILY HOMES MARKET SUMMARY | MARCH 2021 •
Official Market Type: Seller's Market with a 71.64% Sales Ratio.1
•
Homes are selling for an average of 99.59% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,403,500.
•
Markets with the Highest Median Sales Price: Naples ($4,297,500), Vail ($4,100,000), Santa Barbara ($3,850,000), and Los Angeles Beach Cities ($3,775,000).
•
Markets with the Highest Sales Ratio: GTA-Durham (344%), Austin (307%), East Bay (275%) and Ada County (251%). 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.
