Chris Butryn Luxury Market Report NOV 19

CHRIS BUTRYN

LUXURY MARKET REPORT TORONTO | NOVEMBER 2019

www.BestInLuxury.ca

CHRIS BUTRYN, BA, LLB Real Estate Sales Representative, REALTOR® Member, Institute for Luxury Home Marketing

416.284.4751

Chris@ChrisButryn.com www.BestInLuxury.ca Welcome to this month’s Luxury Market Report for Toronto published by the Institute for Luxury Home Marketing. As a member I am pleased to have the opportunity to share with you this complimentary copy!

When it’s time to sell, let’s leave the sales spin behind. If you are looking for a real conversation about buying and selling a high-end property, I invite you to give me a call. I will guarantee you three things from the start: • Your time will be respected as a precious commodity.

• Transparent communications - I’ll give you straightforward answers to your questions, whether they are what you want to hear or not.

• I share your belief that dependability is non-negotiable.

Sound like an approach you can work with? Let’s talk.

• Author of the upcoming book Down to Earth Advice for Upscale Homeowners • Member, Institute for Luxury Home Marketing since 2015 • Master Sales Award winner 2015-2017 • LLB, Queen’s University • BA (Honours), Queen’s University

TABLE OF CONTENTS PAGE 4

LUXURY REPORT EXPLAINED

PAGE 5

WELCOME MESSAGE

PAGE 6-8

NORTH AMERICAN LUXURY MARKET REVIEW

PAGE 9

13 MONTH MARKET TRENDS

PAGE 10

SINGLE FAMILY HOMES MONTHLY OVERVIEW

PAGE 11

ATTACHED HOMES MONTHLY OVERVIEW

PAGE 12-14 MONTHLY STATISTICS BY CITY - Single Family Homes PAGE 15-17 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 19

LOCAL LUXURY MARKET REVIEW

PAGE 20-21 SINGLE FAMILY HOMES - Monthly Statistics PAGE 22-23 ATTACHED HOMES - Monthly Statistics PAGE 24

THANK YOU

– 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.

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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 © 2019 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.

NORTH AMERICAN LUXURY REVIEW Static Market Leads to Focus on Future Trends There is now an official global trend that has emerged - as prices in the more recognized world-class cities continue to stagnate, demand is growing for luxury properties in secondary cities.

Knight Frank, a leading luxury real estate consultant, recently published a report that shows Moscow toping the global price growth index with a 11.1% growth in the third quarter of 2019. The Russian capital is followed by Frankfurt (10.3%), Taipei (8.9%), Manila (7.4%) and Berlin (6.5%) in the top five…and Bucharest (0.7%) is in the Top 45 for the first time!

This growing trend has become all the more obvious in North America – especially the US – where secondary cities such as Seattle, Richmond (VA), Austin, Nashville, Charlotte, St. Louis, and Denver are reporting markets favorable to luxury sellers. In this month’s report, these single-family home markets are clearly defined in the statistical table.

Looking at the condo market and new markets such as Virginia’s Arlington, Alexandria and Fairfax, the counties of Marin, Ventura and Orange in California, Colorado’s Denver, Boulder and Douglas County and Ontario’s Greater Toronto Areas of Durham and York are also seeing seller markets.

Whether its global or more local, there seems to be a diversification of real estate wealth as the affluent seek to invest their money wisely for the future. There has also been a growing acceptance that political uncertainty is causing a slowing price increase in the majority of the world’s major cities. From increasingly difficult trade relations, political tensions, looming elections to the ongoing conundrum of situations such as Brexit.

What is significant and equally unexpected is that investment in real estate has shied away from traditional safe havens in popular major cities and instead chosen to take a risk in these secondary markets.

In PricewaterhouseCoopers’ (PwC) recent report – Emerging Trends in Real Estate 2019 – they identify the markets of Dallas/Fort Worth, Brooklyn, Orlando, Raleigh/Durham and Nashville as their top five fastest growing markets.

Their report also identifies that Florida is seeing an increase in growth with Tampa Bay, St. Petersburg,

A collection of high-growth luxury secondary markets.

From Left to Right. Top Row: Phoenix, AZ; Atlanta, GA; Las Vegas, NV; Portland, OR. Bottom Row: Austin, TX; Dallas, TX; Miami, FL; Nashville, TN

Miami, and Fort Lauderdale all ranked in the Top 20, and the Texas cities of Austin and San Antonio also join these ranks for another year.

They state that one clear trend is that the luxury real estate market is going to be more volatile in the upcoming years and will be affected by “disruptors” such as politics, taxation, and even the media. For instance, although Seattle is still considered to be an attractive market, it slipped from PwC’s number 1 spot to 16th – so did the intense media focus rather than the dramatic price increases sway public opinion?

Taxation has certainly had a large impact on the luxury market and there has been significant migration from premier markets such as San Francisco, Los Angeles, New York, Chicago, Washington D.C. to markets that offer more favorable rates.

In their recent personal-finance publication, Kiplinger released their analysis on the most tax friendly states, with Wyoming, Nevada, Tennessee, and Florida in their top 5 and Arizona and Washington in the top 10. Texas, Colorado, Virginia and Montana are considered to be tax-friendly and find their rating in the Top 20.

Correlate this information with high growth secondary markets such as Phoenix, Atlanta, Las Vegas, Portland, Austin, Dallas, Miami and Nashville and a pattern clearly reveals itself.

In Canada, growth has a different face. Secondary cities such as Ottawa, Montreal, and Quebec City are all predicted to see growth in their housing index between 3 - 6%, but instead of only looking for new markets, personal capital is being invested in improving and redevelopment of existing assets.

Investors in Canada seeking to optimize their portfolios are learning to pivot as well as act quickly to extract the most out of opportunities – whether it’s to get the right price, find a “different” type of project, or invest in a new market.

Like their US counterparts, investors in Canadian real estate are looking to diversify to maximize their real estate opportunities. But whereas diversifying in the US is often seen as owning numerous properties in different locations, in Canada diversification has pushed into the opportunity of redevelopment with focus on greater density. For instance, the conversion of large estate homes into smaller multi-family luxury residences is very prevalent in Vancouver and Toronto.

PwC’s report also identified a significant Canadian trend that has enabled affluent entrepreneurs

to further diversify their assets. Investors are starting to form more strategic partnerships or joint ventures – this has allowed them to limit their risk while increasing the opportunity of taking on more complex projects.

One common trait that is crucial to the future of investing in real estate, irrespective of its location, is the evolving demand for digital and technology integration from both a work and living aspect. Whether this is in the infrastructure of homes or its use in determining new opportunities, not recognizing its power in today’s real estate would be a mistake.

Predictive modeling has become an integral part of global companies looking to expand their operations and has been the reason for many headquarter relocations. Considering the affordability, workforce, liveability, infrastructure are just some the parameters that have determined the choice to move to these secondary markets.

Likewise, the demand by the affluent to integrate more sophisticated technology into their homes is growing exponentially. The desire to use the digital world is driven by the need to simplify the management of these homes, coupled with a need to live in an environment that provides for their wellness.

As a caveat to the trends described in this report, in particular the growth of secondary markets, it should be noted that although major cities are seeing an overall slowing in price increases and sales, that within each market there will always be pockets of demand that contradict.

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. The most lucrative real estate niches largely depend on market trends and shifting buying interests, but there are always longtime money-makers.

For homeowners looking to sell their luxury home in today’s market we recommend working with a realtor who can capitalize on the preferences of current investors. By carefully focusing on the lifestylespecific niche your property offers, in line with trends, it can be marketed effectively to connect with the right potential buyers.

For homeowners looking to sell their luxury home in today’s market, we recommend working with a realtor who can capitalize on the preferences of current investors. By carefully focusing on the lifestylespecific niche your property offers, in line with trends, it can be marketed effectively to connect with the right potential buyers.

– 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

54 46

40

56

49

63

58

45

46

42

53

48

55

38

43

35 35

31

37

43

52

46

39

48

39

38

32

20

0

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

$493 $372

$478 $359

$502 $336

$500 $346

$374

$357

$384

$360

$466

$498

$533 $468

$486 $356

$481

$478 $371

$300

$342

$457 $365

$400

$485

$500

$341

PRICE PER SQUARE FOOT

$600

$200

$100

$0

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

SEP

OCT

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

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

Discrepancies between statistics published between the October 2019 and November 2019 Luxury Market Reports are due to the addition of Coastal Connecticut, Central Connecticut, and Richmond, VA.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month September 2019 | October 2019

SINGLE-FAMILY HOMES September

October

September

October

47,648

46,535

Median List Price

$1,634,975 $1,624,750

Total Inventory

Median Sale Price

$1,308,484 $1,364,500

New Listings

12,196

11,154

6,429

6,794

46

52

3,716

3,789

Median SP/LP Ratio

97.17%

96.74%

Total Sold

Total Sales Ratio

13.49%

14.60%

Median Days on Market

$359

$372

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





1,042

365

New Listings

Total Sold





6

1.11%

Med. Sale Price

Days on Market

Sales Ratio

56,016

$



SINGLE-FAMILY HOMES MARKET SUMMARY | OCTOBER 2019 •

Official Market Type: Buyer's Market with a 14.60% Sales Ratio.1

•

Homes are selling for an average of 96.74% of list price.

•

The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,364,500.

•

Markets with the Highest Median Sales Price: Santa Barbara ($4,262,500), LA Beach Cities ($3,597,500), Vail ($3,550,000), and Vancouver ($3,333,333).

•

Markets with the Highest Sales Ratio: Seattle (45%), San Francisco (42%), Richmond (40%), and Silicon Valley (35%).

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 Month Over Month September 2019 | October 2019

ATTACHED HOMES September

Median List Price Median Sale Price Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.

October

$1,030,000 $1,038,000

September

October

17,066

17,461

New Listings

4,914

4,808

2,377

2,544

38

48

2,071

2,024

Total Inventory

$888,750

$871,250

98.08%

98.22%

Total Sold

13.93%

14.57%

Median Days on Market

$478

$493

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





106

167

New Listings

Total Sold





Med. Sale Price

Days on Market

17,500

$

10



0.64% Sales Ratio

ATTACHED HOMES MARKET SUMMARY | OCTOBER 2019 •

Official Market Type: Buyer's Market with a 14.57% Sales Ratio.1

•

Attached homes are selling for an average of 98.22% of list price.

•

The median luxury threshold2 price is $702,450, and the median attached luxury sale price is $871,250.

•

Markets with the Highest Median Sales Price: Vail ($3,200,000), San Francisco ($2,353,125), Maui ($1,930,000), and Greater Boston ($1,900,000).

•

Markets with the Highest Sales Ratio: Arlington & Alexandria (73%), Silicon Valley (61%), LA The Valley (59%), and GTA-Durham (55%).

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

$1,175,000

$1,042,500

714

211

72

52

Buyer's

AZ

Paradise Valley

$2,995,000

$2,425,000

211

58

9

237

Buyer's

AZ

Phoenix

$749,000

$634,235

699

219

197

68

Seller's

AZ

Scottsdale

$1,695,000

$1,445,000

847

222

77

117

Buyer's

AZ

Tucson

$747,000

$630,000

695

192

105

23

Balanced

BC

Okanagan Valley

$1,600,000

$1,420,000

695

96

29

80

Buyer's

BC

Vancouver

$3,998,000

$3,333,333

1,151

251

57

46

Buyer's

BC

Victoria

$1,890,000

$1,433,000

401

97

54

56

Buyer's

CA

Los Angeles Beach Cities

$4,897,500

$3,597,500

424

101

52

42

Buyer's

CA

Los Angeles City

$4,149,000

$3,260,000

985

303

127

36

Buyer's

CA

Los Angeles The Valley

$2,095,000

$1,772,500

615

221

146

33

Seller's

CA

Marin County

$4,200,000

$2,800,000

137

17

41

28

Seller's

CA

Napa County

$3,400,000

$2,475,000

153

17

20

128

Buyer's

CA

Orange County

$2,499,894

$1,950,000

1,590

330

261

50

Balanced

CA

Palm Springs & Palm Desert

$1,787,000

$1,375,000

473

141

28

64

Buyer's

CA

Placer County

$999,995

$899,500

241

52

58

50

Seller's

CA

Sacramento

$782,000

$720,000

886

282

288

27

Seller's

CA

San Diego

$2,180,000

$1,640,000

1,241

351

275

34

Seller's

CA

San Francisco

$4,095,000

$3,250,000

104

28

44

14

Seller's

CA

Santa Barbara

$3,922,500

$4,262,500

328

58

26

108

Buyer's

CA

Silicon Valley

$3,954,000

$3,250,000

350

146

121

14

Seller's

CA

Ventura County

$1,760,000

$1,377,500

389

116

74

62

Balanced

CO

Boulder

$1,649,500

$1,303,500

268

69

44

64

Balanced

CO

Denver

$950,000

$825,500

1,215

373

389

20

Seller's

CO

Douglas County

$1,250,000

$1,095,000

314

67

66

40

Seller's

CO

Vail

$4,895,000

$3,550,000

125

8

7

96

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

CT

Central Connecticut

$649,900

$572,000

520

80

64

66

Buyer's

CT

Coastal Connecticut

$1,695,000

$1,355,000

1,568

206

90

119

Buyer's

DC

Washington D.C.

$2,997,900

$2,745,000

82

23

4

49

Buyer's

$2,292,500

$1,828,500

564

94

29

126

Buyer's

$1,600,000

$1,369,000

81

12

8

115

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

$1,325,000

$930,000

1,629

332

129

92

Buyer's

FL

Jacksonville Beaches

$1,250,000

$1,200,077

336

52

25

87

Buyer's

FL

Miami

$1,299,000

$1,000,000

1,467

262

78

160

Buyer's

FL

Naples

$2,000,000

$1,625,000

713

131

43

103

Buyer's

FL

Orlando

$1,600,000

$1,373,587

470

69

41

128

Buyer's

FL

Palm Beach Towns

$3,392,500

$1,950,000

370

64

23

91

Buyer's

FL

Sarasota & Beaches

$1,697,500

$1,360,000

564

107

35

106

Buyer's

FL

Tampa

$789,750

$676,000

882

187

133

52

Balanced

GA

Atlanta

$1,150,000

$1,249,950

1,318

321

104

48

Buyer's

HI

Kauai

$2,590,000

$1,270,000

119

14

9

153

Buyer's

HI

Maui

$3,300,000

$2,612,500

191

21

20

218

Buyer's

HI

Oahu

$3,200,000

$2,365,000

265

39

18

38

Buyer's

IL

Chicago

$1,229,000

$1,007,500

1,909

435

200

106

Buyer's

IN

Hamilton County

$749,900

$653,750

307

60

58

76

Balanced

MA

Greater Boston

$3,495,000

$2,700,000

169

44

23

57

Buyer's

MD

Montgomery County

$1,795,000

$1,479,250

371

85

62

27

Balanced

MD

Talbot County

$1,795,000

$1,275,000

119

10

9

67

Buyer's

MD

Worcester County

$899,000

$877,000

53

6

6

37

Buyer's

MI

Oakland County

$722,450

$620,000

1,296

396

161

37

Buyer's

MO

St. Louis

$752,450

$619,000

212

55

55

59

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

NC

Charlotte

$899,900

$787,250

901

193

234

40

Seller's

NC

Raleigh-Durham

$719,900

$685,000

1,093

204

215

3

Balanced

NJ

Ocean County

$890,000

$807,500

733

146

82

84

Buyer's

NV

Las Vegas

$737,468

$610,000

1,681

440

291

44

Balanced

NV

Reno

$1,350,000

$1,220,654

140

21

21

98

Balanced

NY

Brooklyn

$1,599,000

$1,450,000

276

55

18

99

Buyer's

NY

Staten Island

$1,199,999

$1,087,500

217

40

14

98

Buyer's

ON

GTA - Durham

$1,599,000

$1,384,500

277

114

26

28

Buyer's

ON

GTA - York

$2,348,000

$1,775,000

831

313

77

29

Buyer's

ON

Toronto

$3,449,000

$3,050,000

574

283

80

16

Buyer's

TN

Knox County

$775,000

$651,000

241

41

39

50

Balanced

TN

Nashville

$1,285,000

$951,000

262

93

56

9

Seller's

TX

Austin

$1,049,000

$790,000

640

174

197

33

Seller's

TX

Collin County

$699,824

$650,000

916

191

123

78

Buyer's

TX

Dallas

$995,000

$915,000

960

224

127

52

Buyer's

TX

Fort Worth

$875,000

$745,000

845

186

137

51

Balanced

TX

Houston

$825,000

$750,000

2,072

560

259

44

Buyer's

TX

The Woodlands & Spring

$820,000

$711,000

484

111

64

51

Buyer's

UT

Park City

$3,395,000

$2,248,994

257

36

32

116

Buyer's

VA

Arlington & Alexandria

$1,899,000

$1,695,000

109

37

11

27

Buyer's

VA

Fairfax County

$1,699,000

$1,390,000

549

117

59

42

Buyer's

VA

McLean & Vienna

$1,899,999

$1,789,000

243

58

21

39

Buyer's

VA

Richmond

$840,109

$776,500

287

72

116

28

Seller's

WA

Greater Seattle

$1,899,925

$1,575,000

850

227

278

17

Seller's

WA

Seattle

$1,799,950

$1,450,000

271

87

123

13

Seller's

Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

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

$822,748

$837,500

298

86

24

49

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$750,000

$627,500

226

59

52

56

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,850,000

$1,618,000

833

275

63

28

Buyer's

BC

Victoria

$799,900

$749,900

311

98

49

35

Balanced

CA

Los Angeles Beach Cities

$1,785,000

$1,390,000

215

68

63

23

Seller's

CA

Los Angeles City

$1,495,000

$1,175,000

381

127

73

22

Balanced

CA

Los Angeles The Valley

$725,000

$665,875

122

70

72

33

Seller's

CA

Marin County

$1,287,000

$1,465,000

20

7

9

30

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$999,999

$980,000

445

136

107

46

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,081,375

$871,250

598

209

136

36

Seller's

CA

San Francisco

$2,700,000

$2,353,125

157

37

46

15

Seller's

CA

Santa Barbara

$1,847,500

$1,362,500

52

7

4

21

Buyer's

CA

Silicon Valley

$1,409,495

$1,410,000

122

60

75

12

Seller's

CA

Ventura County

$781,450

$692,000

66

32

24

66

Seller's

CO

Boulder

$819,000

$730,450

81

31

19

68

Seller's

CO

Denver

$674,950

$617,000

608

191

217

29

Seller's

CO

Douglas County

$610,000

$660,000

19

2

7

126

Seller's

CO

Denver

$674,950

$617,000

608

191

217

29

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.

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

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$777,000

$642,500

280

56

32

95

Buyer's

DC

Washington D.C.

$1,795,000

$1,535,000

209

70

48

9

Seller's

$959,000

$677,500

444

114

26

73

Buyer's

$1,329,000

$742,500

145

23

12

159

Buyer's

$875,000

$775,000

1,240

204

41

147

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

FL

Greater Fort Lauderdale

FL

Jacksonville Beaches

$1,062,500

$1,025,000

50

12

3

231

Buyer's

FL

Miami

$1,038,000

$900,000

2,896

420

71

137

Buyer's

FL

Naples

$2,195,000

$1,900,000

259

67

13

164

Buyer's

FL

Orlando

$671,865

$649,000

80

22

7

94

Buyer's

FL

Palm Beach Towns

$1,450,000

$1,900,000

370

71

17

153

Buyer's

FL

Sarasota & Beaches

$1,397,275

$1,118,500

248

62

14

76

Buyer's

FL

Tampa

$699,950

$580,000

122

34

19

90

Balanced

GA

Atlanta

$675,000

$630,000

622

183

91

35

Buyer's

HI

Kauai

$1,472,500

$1,008,000

86

12

4

81

Buyer's

HI

Maui

$1,795,000

$1,930,000

139

25

22

493

Balanced

HI

Oahu

$1,290,000

$1,115,000

425

64

41

48

Buyer's

IL

Chicago

$1,150,000

$975,000

1,069

308

117

82

Buyer's

IN

Hamilton County

-

-

-

-

-

-

-

MA

Greater Boston

$2,295,000

$1,900,000

316

90

42

34

Buyer's

MD

Montgomery County

$774,995

$715,000

184

82

45

21

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$598,000

$775,000

115

15

5

60

Buyer's

MI

Oakland County

$699,900

$604,385

69

25

5

8

Buyer's

MO

St. Louis

-

-

-

-

-

-

-

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

NC

Charlotte

$730,000

$667,003

163

52

22

55

Buyer's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$669,000

$563,500

125

21

10

55

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,319,000

$1,052,500

651

123

74

49

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

GTA - Durham

$678,950

$629,000

60

39

33

11

Seller's

ON

GTA - York

$858,000

$839,000

303

216

134

16

Seller's

ON

Toronto

$1,268,000

$1,150,000

599

450

228

13

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$885,000

$690,000

95

31

25

13

Seller's

TX

Austin

$799,386

$646,000

213

62

25

21

Buyer's

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$747,000

$804,500

214

55

22

74

Buyer's

TX

Ft. Worth

-

-

-

-

-

-

-

TX

Houston

$646,450

$540,000

194

64

13

43

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$1,889,850

$1,835,000

148

15

24

58

Balanced

VA

Arlington & Alexandria

$1,249,000

$918,000

62

30

45

9

Seller's

VA

Fairfax County

$719,894

$669,500

186

79

74

14

Seller's

VA

McLean & Vienna

$1,242,500

$890,000

36

13

5

81

Buyer's

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,099,973

$1,175,000

210

59

50

43

Seller's

WA

Seattle

$1,195,000

$1,161,500

140

37

30

42

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 is in each detail.

Hubert de Givenchy

TO R O N T O ONTARIO –November 2019–

TORONTO

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | OCTOBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $2,500,000 $10,200,000+ $9,100,000 - $10,199,999 $8,100,000 - $9,099,999 $7,300,000 - $8,099,999

$6,500,000 - $7,299,999 $5,800,000 - $6,499,999

23

0 5

1

7

0

Total Sales: 80

1 14

1

34

4 26

4

$4,100,000 - $4,499,999

39

6

59

3

$3,300,000 - $3,699,999

$2,900,000 - $3,099,999

69

11 38

7

49

8

$2,700,000 - $2,899,999

74

18

$2,500,000 - $2,699,999

1

Total Sales Ratio2: 14%

17

$4,500,000 - $5,099,999

$3,100,000 - $3,299,999

Buyer's Market

12

1

$5,100,000 - $5,799,999

$3,700,000 - $4,099,999

Total Inventory: 574

108

15

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0-1 Bedrooms

NA

NA

NA

0

4

0%

2 Bedrooms

$2,900,000

44

3

3

9

33%

3 Bedrooms

$3,200,000

8

4

4

60

7%

4 Bedrooms

$2,950,000

15

5

51

299

17%

5 Bedrooms

$3,850,000

22

8

15

155

10%

6+ Bedrooms

$2,800,000

10

5

7

47

15%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

TORONTO

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$3,075,000

$3,000,000

548

$3,019,000

$2,751,000

469

80

Oct-18

57

18

Nov-18

Dec-18

17

Jan-19

$3,175,000

$3,222,000

$3,012,000

42

39

Feb-19

Mar-19

Solds

$3,022,500

123

97

Apr-19

$3,175,000

May-19

$2,960,000

$3,250,000

$3,050,000

574

566

550

473

456

377

331

273

$2,938,953

Inventory

462

80

Jun-19

574

460

45 Jul-19

51

79

Aug-19

Sep-19

80

Oct-19

MEDIAN DATA INVENTORY September

October

574

574 VARIANCE: 0 %

SALE PRICE PER SQFT. September

October

N/A

N/A VARIANCE: N/A

SOLDS September

October

79

80 VARIANCE: 1 %

SALE TO LIST PRICE RATIO September

October

97.19% 96.25% VARIANCE: -1 %

SALES PRICE September

3.25m

$

October

3.05m VARIANCE: -6 % $

DAYS ON MARKET September

October

10

16 VARIANCE: 60 %

TORONTO MARKET SUMMARY | OCTOBER 2019 • The Toronto single-family luxury market is a Buyer's Market with a 14% Sales Ratio.

• Homes sold for a median of 96.25% of list price in October 2019.

• The most active price band is $2,700,000-$2,899,999, where the sales ratio is 24%.

• The median luxury sales price for single-family homes has decreased to $3,050,000.

• The median days on market for October 2019 was 16 days, up from 10 in September 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

Data reported includes Active and Sold properties and does not include Pending properties. All prices are listed in $CAD. 3

4

TORONTO

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | OCTOBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $915,000 $5,500,000+ $4,800,000 - $5,499,999 $4,200,000 - $4,799,999 $3,600,000 - $4,199,999

$3,100,000 - $3,599,999 $2,700,000 - $3,099,999 $2,300,000 - $2,699,999 $2,000,000 - $2,299,999

$1,700,000 - $1,999,999 $1,500,000 - $1,699,999

11

0 1

4

Total Inventory: 599

5

1

Total Sales: 228 Seller's Market

11

1

Total Sales Ratio2: 38%

15

3

20

4

25

8

29

8

49

8

$1,300,000 - $1,499,999 $1,200,000 - $1,299,999

34

17

70

31 61

17

$1,100,000 - $1,199,999

72

39

$1,000,000 - $1,099,999

63

36

$915,000 - $999,999

1

130

54

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 Bedrooms

NA

NA

NA

0

0

NA

1 Bedrooms

$1,345,000

13

2

15

27

56%

2 Bedrooms

$1,140,000

15

2

138

382

36%

3 Bedrooms

$1,205,000

9

3

69

167

41%

4 Bedrooms

$1,240,009

12

4

6

17

35%

5+ Bedrooms

NA

NA

NA

0

6

0%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

TORONTO

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$1,200,000

$1,200,000

$1,175,000

$1,220,000

$1,149,000

625

$1,200,000

163

91

Nov-18

Dec-18

$1,180,000

95 Jan-19

142

Feb-19

Mar-19

$1,165,000

608 306

234

184

Solds

645

590

423

381

332

Oct-18

$1,170,000

550

497 195

Inventory

Apr-19

May-19

$1,200,000

$1,133,000

Jun-19

637

561

559 247

$1,150,000

$1,100,000

203

251

173

Jul-19

Aug-19

599

228

Sep-19

Oct-19

MEDIAN DATA INVENTORY September

October

637

599 VARIANCE: -6 %

SALE PRICE PER SQFT. September

October

N/A

N/A VARIANCE: N/A

SOLDS September

October

251

228 VARIANCE: -9 %

SALE TO LIST PRICE RATIO September

October

98.99% 98.53% VARIANCE: 0 %

SALES PRICE September

1.20m

$

October

1.15m VARIANCE: -4 % $

DAYS ON MARKET September

October

10

13 VARIANCE: 30 %

TORONTO MARKET SUMMARY | OCTOBER 2019 • The Toronto attached luxury market is a Seller's Market with a 38% Sales Ratio.

• Homes sold for a median of 98.53% of list price in October 2019.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 57%.

• The median luxury sales price for attached homes has decreased to $1,150,000.

• The median days on market for October 2019 was 13 days, up from 10 in September 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

Data reported includes Active and Sold properties and does not include Pending properties. All prices are listed in $CAD. 3

4

Not intended to solicit anyone already under contract. Information provided herein is believed to be true but not guaranteed. It is limited, and provided for information purposes only, on an â&#x20AC;&#x153;as isâ&#x20AC;? basis and without warranties of any kind, either express or implied, including but not limited to warranties of title or implied warranties of merchantability or fitness for a particular purpose, compatibility, accuracy or non-infringement. It is not, and should not be taken as consulting or other professional advice. You should not rely on, or take or fail to take any action based on this information. You assume full responsibility and risk of loss from your use of any information herein. Never disregard professional advice or delay in seeking it because of something you have read herein. To the fullest extent permitted by law, we make no warranties and shall not be liable for any use of the information under any circumstances, including, but not limited to, for our or our third party providersâ&#x20AC;&#x2122; negligence or errors. Subject to applicable laws, in no event shall we, nor any of our related entities, agents or licensors be responsible or liable for damages of any kind. Source for the statistics and information provided herein: The Institute for Luxury Home Marketing.

Thank you for taking time to view this report.

For more information about this report and the services I can offer you and your luxury property, please give me a call at 416.284.4751.

- Chris Butryn

CHRIS BUTRYN

416.284.4751 | Chris@ChrisButryn.com | www.BestInLuxury.ca