Chris Butryn Luxury Market Report - January 2019

CHRIS BUTRYN

LUXURY MARKET REPORT TORONTO | JANUARY 2019

www.LuxuryPropertyinToronto.com

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

416.284.4751

Chris@ChrisButryn.com www.LuxuryPropertyinToronto.com 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 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.

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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 © 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.

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

Luxury is in each detail.

Hubert de Givenchy

TORONTO

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | DECEMBER 2018 Inventory

Sales

Luxury Benchmark Price 1: $2,500,000 $9,000,000+ $8,000,000 - $8,999,999 $7,000,000 - $7,999,999 $6,000,000 - $6,999,999

19

0 6

0

6

0

1

19 14

0

20

1

$3,000,000 - $3,249,999

19

4

$2,900,000 - $2,999,999

33

1 15

0

$2,700,000 - $2,799,999

$2,500,000 - $2,599,999

39

1

$3,250,000 - $3,499,999

$2,600,000 - $2,699,999

Total Sales Ratio2: 6%

3

$3,750,000 - $3,999,999

$2,800,000 - $2,899,999

Buyer's Market 26

$4,000,000 - $4,999,999

$3,500,000 - $3,749,999

Total Sales: 18 10

0

$5,000,000 - $5,999,999

Total Inventory: 287

17

3 16

2

28

2

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

1

0%

2 Bedrooms

NA

NA

NA

0

7

0%

3 Bedrooms

NA

NA

NA

0

29

0%

4 Bedrooms

$3,019,000

25

6

12

134

9%

5 Bedrooms

$2,735,000

35

5

3

79

4%

6+ Bedrooms

$4,850,000

57

6

3

32

9%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

TORONTO

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$3,125,000

$3,435,000 $3,047,500

30

Dec-17

31 Jan-18

$3,112,500

$3,108,000

$3,100,000

528

511

425

407

362

283

241

$2,937,500

Inventory

$3,177,298

Solds

$3,135,000

$3,075,000

$2,980,000

575

550

494

$3,000,000

$3,019,000

492

403

287 44

52

Feb-18

Mar-18

80 Apr-18

81

81

May-18

Jun-18

42

79

Aug-18

Sep-18

58

Jul-18

82 Oct-18

59

18

Nov-18

Dec-18

MEDIAN DATA INVENTORY November

December

492

SOLDS November

December

287 VARIANCE: -42 %

18 VARIANCE: -69 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

November

December

N/A

N/A VARIANCE: N/A

59

November

December

96.72% 93.61% VARIANCE: -3 %

SALES PRICE November

3.00m

$

December

3.02m VARIANCE: 1 % $

DAYS ON MARKET November

December

22

36 VARIANCE: 64 %

TORONTO MARKET SUMMARY | DECEMBER 2018 • The Toronto single-family luxury market is a Buyer's Market with a 6% Sales Ratio.

• Homes sold for a median of 93.61% of list price in December 2018.

• The most active price band is $3,000,000-$3,249,999, where the sales ratio is 21%.

• The median luxury sales price for single-family homes has increased to $3,019,000.

• The median days on market for December 2018 was 36 days, up from 22 in November 2018.

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

4 Historical data before August 2017 does not account for listings taken off the market.

3

TORONTO

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | DECEMBER 2018 Inventory

Sales

Luxury Benchmark Price 1: $915,000 $6,000,000+ $5,000,000 - $5,999,999 $4,000,000 - $4,999,999 $3,000,000 - $3,999,999

8

0 1 1 1

Total Inventory: 266 2

Total Sales: 69

$2,000,000 - $2,999,999 $1,750,000 - $1,999,999

Seller's Market

7

2 4

18

3

$1,500,000 - $1,749,999

24

5

$1,250,000 - $1,499,999 7

9 14

4

$1,100,000 - $1,149,999

19

5 10

4

$950,000 - $999,999 $915,000 - $949,999

12

6

$1,050,000 - $1,099,999

$1,000,000 - $1,049,999

47

12

$1,200,000 - $1,249,999 $1,150,000 - $1,199,999

Total Sales Ratio2: 26%

30

37

10

28

5

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

$1,725,000

14

2

1

18

6%

2 Bedrooms

$1,215,000

21

2

47

181

26%

3 Bedrooms

$1,109,000

22

3

18

58

31%

4 Bedrooms

$1,400,000

37

4

3

7

43%

5+ Bedrooms

NA

NA

NA

0

2

0%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

TORONTO

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$1,187,500

$1,215,000

291

253

239 46 Dec-17

$1,171,950

55 Jan-18

$1,128,440

Feb-18

138

Mar-18

$1,125,000

$1,172,500

$1,194,500

Solds

$1,195,000

$1,175,000

$1,150,000

359

$1,180,000

$1,200,000

478

476

414

377

318

279 100

$1,159,000

Inventory

386

359

266 151

Apr-18

173

162

May-18

Jun-18

114

102 Jul-18

133

Aug-18

133

Sep-18

Oct-18

115

69

Nov-18

Dec-18

MEDIAN DATA INVENTORY November

December

386

SOLDS November

December

266 VARIANCE: -31 %

69 VARIANCE: -40 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

November

December

N/A

N/A VARIANCE: N/A

115

November

December

98.22% 97.49% VARIANCE: -1 %

SALES PRICE November

1.18m

$

December

1.20m VARIANCE: 2 % $

DAYS ON MARKET November

December

14

21 VARIANCE: 50 %

TORONTO MARKET SUMMARY | DECEMBER 2018 • The Toronto attached luxury market is a Seller's Market with a 26% Sales Ratio.

• Homes sold for a median of 97.49% of list price in December 2018.

• The most active price band is $5,000,000-$5,999,999, where the sales ratio is 100%.

• The median luxury sales price for attached homes has increased to $1,200,000.

• The median days on market for December 2018 was 21 days, up from 14 in November 2018.

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

4 Historical data before August 2017 does not account for listings taken off the market.

3

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.LuxuryPropertyinToronto.com