GABRIELA MARCU
LUXURY MARKET REPORT GREATER TORONTO AREA | DECEMBER 2018 K I N G + VA U G H A N + R I C H M O N D H I L L
GARBIELA MARCU
Broker, ASA, CLHMS, Million Dollar Guild
416.568.3912
gsmarcu@gmail.com www.GabyGTA.com I enjoy the challenge of setting goals and creating solutions and strategies to achieve them. I am dedicated to providing my clients with the highest quality service possible. My personal knowledgeof the local real estate market is combined with the power of Royal Lepage Your Community brand. I offer FREE Home Evaluations to find out what the home is worth in today’s market, andshow them how I will get the job done through extensive marketing and price positioning. Whether it is residential or investment properties, I bring a wealth of knowledge and professionalism in sales, marketing, and negotiating on my clients’ behalf. AWARDS: • President’s Gold Award 2011-2015 • Diamond Award 2016 • President’s Gold Award plus Excellence Award 2017
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.
THIS IS YOUR
LUXURY MARKET REPORT
MAP OF LUXURY RESIDENTIAL MARKETS
W
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report
provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
Copyright © 2018 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute annually. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.
NORTH AMERICAN N OV E M B E R LUXURY REVIEW 2 0 1 8 As the year draws to a close, November’s statistics reveal that the luxury market remains solid, prices stable, and the median length of time, as well as the selling price to list price ratios, remain consistent. Inventory is increasing, but this is reflective of both the time of year and ultra-high priced luxury properties selling at a slower rate than in previous years. Comparing last October 2018 to November 2018, the median single-family luxury sales price climbed 8.5% while sales fell 11.7%. The luxury median attached sales prices rose 2.3%, and the number of sales also rose 2.6% in November. Both single-family and attached homes actually saw a small drop in the median DOM (3-4 days), but overall are on the market a median of 10-15 days longer than in the peak selling season. The luxury segment of real estate is often described as being a minor part of the whole industry, but is readily recognized as being a major influencer in the creator of trends and providing a barometer to changes in the industry. Therefore, this month we are taking the opportunity to report on some of the key factors that are responsible for creating and maintaining today’s affluent communities. Water Locales As you would expect water locations of any kind, from man-made to coastal towns and mountain peaks, are a big draw and have become subject to hosting some of the highest priced homes. These luxury strongholds are associated with long-time celebrity havens, captains of industry, and international businesspeople living in both primary and secondary residences. Locations such as those found along the incredible coastline of Florida have seen substantial upgrades to their infrastructure as well as older mansions being torn down to create even more private locales for these multi-millionaires. Newer, exclusive luxury developments such as Ward Village in Honolulu have become increasingly popular. Artfully designed to appreciate the magnificent ocean views, provide access to private beaches and docks, their overall concept is focused on creating ‘wellness’ of which water is a significant part for its serenity and healing properties. Whether a location is a flashier, more celebrity-driven neighborhood or offers gated access, pristine parks, and a quieter lifestyle, these communities attract a mix of families, jet-setters, and seasonal owners.
Home, Work, and Play Real estate requirements of the affluent have changed significantly over the past few years to suit 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. San Francisco represents one such city with direct access to Silicon Valley and offers the amenities that come with living in a sophisticated city as well as easy airport accessibility. Equally, these entrepreneurs are choosing to spend more time working from their homes, made plausible due to the technological advances in the last few years. Second homes that were once purchased for use as 2-week family retreats are now being used for longer periods facilitating both work and leisure opportunities for their owners. “Aspen is really a ski resort last and a lifestyle first,” says Michelle Sullivan, broker associate at Christie’s International Real Estate Aspen. This lifestyle of posh dining and entertainment, arts and culture, and, of course, the outdoors has been drawing people to this enclave in the Rocky Mountains for decades. Much like other mountainous vacation destinations, there are strict land-use regulations that protect much of the natural beauty surrounding Aspen, which naturally puts a strain on inventory and retains high price points. Wellness and Health In the midst of a world where 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. In addition, homes designed to improve people’s wellness are now commanding 10-25% higher price premiums. Today there are 600-plus global projects built, partially built, or in the pipeline – each one with a unique “wellness proposition.” Many luxury homeowners have recognized that this is not just a hot new industry market trend – but the fact they can assist in leading the charge in tackling today’s uniquely modern problems: sedentary lives, unhealthy diets, stress, social isolation and loneliness, pollution, nature-deprivation, etc. – is creating powerful opportunities. One such new wellness edifice is set to hit sunny Palm Beach, Florida late next year. Amrit Ocean Resort & Residences—two glass-encased oceanfront towers on Singer Island inspired by the yogic philosophy of mindfulness—was envisioned by Dilip Barot, founder of Creative Choice Group. “These consumers define wellness for themselves, using inner science with research and technology to determine their best lifestyle,” says Barot.
White Glove Service There is also a growing demand for white-glove, boutique level of service being fueled by an unexpected demographic. Older couples are leaving their big homes in the suburbs to find a home in more desirable downtown or central areas of their respective cities. Cities such as Boston are seeing this established wealth driving exceptional growth of historical and picturesque neighborhoods where average prices can run as high as $2,800 per square foot. Additionally, new construction like the Archer Residences Beacon Hill is establishing a new normal in high-end, amenity-driven living for that same older demographic. The Archer will provide 20,000 square feet of amenity space in a 75-unit building. Pricing starts at $1 million for select one-bedroom units and goes to $18 million for a duplex penthouse. Exclusive, Rare, and Scarce Locations that offer exclusivity, something rare or unique, have extremely limited inventory are considered to be the creme de la crème….and locations such as Sea Cliff, Pacific Heights, and Presidio Heights personify these attributes. “There’s this notion that once people move to Sea Cliff, they spend the rest of their lives there,” says Compass San Francisco agent Missy Wyant Smit. With new, record-breaking transactions like the $48.8 million sale in June 2018 of 2500 Gordon Drive in Florida’s exclusive community of Port Royal, it’s fair to say that interest in the ultra-luxury side of the market is self-sustaining. Driven by the success of the tech and stock markets, lack of high tech builders, and the rapidly increasing costs of building a home (coupled with California’s Prop 13) leaves current homeowner’s in Silicon Valley thinking twice about selling – putting further strain on inventory. In places like Palo Alto, Atherton, and Woodside, neighborhoods continue to command special premiums that cause sticker shock to even the most savvy billionaires. Safe Haven for Investment Internationally, North America is recognized for its cultural diversity and financial influence as well as its accessibility for investment opportunities with strong legislation. This has translated into the purchasing of real estate being seen as a relatively safe investment for foreign wealth. In recent months, prices have started to plateau and additional foreign taxes have caused a pause in the higher-end market. In the $5 million to $8 million range, homes that would have attracted a foreign purchaser used to sell in a few days [as recently as] two years ago are now on the market for a couple of months. Anything above $10 million is taking much longer to sell. Although statistics show a slowing down of the ultra-high-end market and a decrease in foreign investment, many expert evaluations and recent reports are stating that the market is merely heading into a transition phase. Presented with these new opportunities, both local and domestic buyers are rebuilding the value vacated by the international money. Next month we will review these new local buyer trends and expert predictions for 2019.
– 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
67
65
61 53
49
40
42
39
55
54
47 41
32
34
41
38
29
33
32
32
33
MAY
JUN
JUL
52
47 41
40
AUG
SEP
46
42
20
0 NOV
DEC
JAN
FEB
MAR
APR
OCT
NOV
$457 $386
$485 $347
$493 $326
$318
$335
$462
$471
$494 $348
$476 $357
$466 $344
$460 $341
$452 $334
$440 $337
$300
$322
$465
$400
$468
$500
$348
PRICE PER SQUARE FOOT
$600
$200
$100
$0
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
OCT
NOV
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
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
Discrepancies between statistics published between the October 2018 and November 2018 Luxury Market Reports are due to the addition of Ventura County, CA; Pinellas Coastal Towns, FL; Tampa, FL; Talbot County, MD; and Worchester County, MD, and the revision to Kauai, HI.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month October 2018 | November 2018
SINGLE-FAMILY HOMES October
November
October
November
Median List Price
$1,673,250 $1,695,000
Total Inventory
42,201
38,793
Median Sale Price
$1,337,500
$1,451,250
New Listings
10,531
7,681
96.80%
96.85%
Total Sold
5,568
4,915
13.19%
12.67%
Median Days on Market
55
52
$347
$386
3,720
3,726
Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
2,850
653
New Listings
Total Sold
3
0.52%
Med. Sale Price
Days on Market
Sales Ratio
113,750
$
SINGLE-FAMILY HOMES MARKET SUMMARY | NOVEMBER 2018 •
Official Market Type: Buyer's Market with a 12.67% Sales Ratio.1
•
Homes are selling for an average of 96.85% of list price.
•
The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,451,250.
•
Markets with the Highest Median Sales Price: Santa Barbara ($4,250,000), Los Angeles Beach Cities ($3,800,000), Vail ($3,549,500), and Vancouver ($3,500,000).
•
Markets with the Highest Sales Ratio: San Francisco (71%), Silicon Valley (55%), Seattle (37%), and Sacramento (36%).
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 October 2018 | November 2018
ATTACHED HOMES October
November
Median List Price
$987,063
$996,445
Total Inventory
Median Sale Price
$883,650
$904,414
97.59%
97.89%
11.24%
11.93%
$485
$457
Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
October
November
15,501
14,980
New Listings
4,035
3,132
Total Sold
1,742
1,787
46
42
1,970
2,082
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
New Listings
Total Sold
903
45
Med. Sale Price
Days on Market
20,764
$
4
0.69% Sales Ratio
ATTACHED HOMES MARKET SUMMARY | NOVEMBER 2018 •
Official Market Type: Buyer's Market with an 11.93% Sales Ratio.1
•
Attached homes are selling for an average of 97.89% of list price.
•
The median luxury threshold2 price is $693,725, and the median attached luxury sale price is $904,414.
•
Markets with the Highest Median Sales Price: Vail ($2,607,500), San Francisco ($2,1,75,000), Santa Barbara ($2,135,001), and Greater Boston ($1,949,000).
•
Markets with the Highest Sales Ratio: Silicon Valley (94%), Marin County (58%), McLean & Vienna (50%), and Arlington & Alexandria (45%).
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
$1,188,800
$994,500
609
145
62
69
Buyer's
AZ
Paradise Valley
$3,000,000
$2,408,927
236
39
14
94
Buyer's
AZ
Phoenix
$720,000
$654,840
839
184
138
62
Balanced
AZ
Scottsdale
$1,649,000
$1,291,750
881
157
68
69
Buyer's
AZ
Tucson
$750,000
$671,000
757
132
78
35
Buyer's
BC
Okanagan Valley
$1,695,000
$1,475,000
539
69
15
123
Buyer's
BC
Vancouver
$3,988,000
$3,500,000
1,251
230
45
21
Buyer's
BC
Victoria
$1,850,000
$1,462,500
316
60
43
44
Buyer's
CA
Los Angeles Beach Cities
$4,691,500
$3,800,000
362
68
47
33
Buyer's
CA
Los Angeles City
$3,997,000
$3,100,000
922
246
106
33
Buyer's
CA
Los Angeles The Valley
$2,125,000
$1,877,500
617
166
96
34
Balanced
CA
Marin County
$3,895,000
$2,730,000
92
9
26
45
Seller's
CA
Napa County
$2,795,000
$2,255,000
101
11
15
93
Buyer's
CA
Orange County
$2,388,800
$1,850,000
1,559
288
216
40
Buyer's
CA
Palm Springs & Palm Desert
$1,800,000
$1,603,000
620
180
28
34
Buyer's
CA
Placer County
$1,125,000
$1,095,000
196
40
35
42
Balanced
CA
Sacramento
$779,387
$699,500
668
186
238
28
Seller's
CA
San Diego
$2,295,000
$1,750,000
1,275
285
212
46
Balanced
CA
San Francisco
$3,995,000
$3,225,000
58
12
41
16
Seller's
CA
Santa Barbara
$3,795,000
$4,250,000
269
40
13
114
Buyer's
CA
Silicon Valley
$3,781,000
$3,250,000
185
60
102
18
Seller's
CA
Ventura County
$1,925,000
$1,556,000
311
55
48
85
Balanced
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
Boulder
$1,700,000
$1,312,500
178
34
30
82
Balanced
CO
Denver
$968,400
$801,500
936
225
303
24
Seller's
CO
Douglas County
$1,297,000
$1,060,000
266
32
47
58
Balanced
CO
Vail
$4,500,000
$3,549,500
135
14
4
49
Buyer's
DC
Washington D.C.
$3,222,500
$2,412,500
58
11
10
32
Balanced
FL
Boca Raton & Delray Beach
$2,037,500
$1,630,000
596
104
24
107
Buyer's
FL
Greater Fort Lauderdale
$1,299,000
$890,000
1,617
288
117
90
Buyer's
FL
Jacksonville Beaches
$1,199,000
$1,255,000
310
43
20
55
Buyer's
FL
Miami
$1,380,000
$982,000
1,474
265
69
111
Buyer's
FL
Naples
$1,890,000
$1,681,250
1,313
234
66
66
Buyer's
FL
Orlando
$1,599,450
$1,440,000
506
56
29
93
Buyer's
FL
Palm Beach Towns
$3,150,000
$2,700,000
401
79
17
135
Buyer's
FL
Pinellas Coastal Towns
$1,724,950
$1,547,250
86
18
7
272
Buyer's
FL
Sarasota & Beaches
$1,689,999
$1,325,000
569
101
25
145
Buyer's
FL
Tampa
$769,990
$689,000
784
144
131
45
Balanced
GA
Atlanta
$1,186,203
$965,000
1,266
217
149
33
Buyer's
HI
Kauai
$2,319,000
$1,601,000
159
25
13
300
Buyer's
HI
Maui
$2,875,000
$2,160,000
202
40
13
188
Buyer's
IL
Chicago
$1,250,000
$1,120,000
1,642
244
175
118
Buyer's
MA
Greater Boston
$2,987,500
$2,320,000
100
22
25
15
Seller's
MD
Montgomery County
$1,697,000
$1,572,500
296
51
56
61
Balanced
MD
Talbot County
$1,695,000
$1,133,818
110
11
6
172
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
MD
Worchester County
$977,500
$960,000
58
6
6
93
Buyer's
MI
Oakland County
$735,000
$622,650
1,033
214
147
35
Buyer's
MO
St. Louis
$749,900
$616,250
182
30
26
56
Buyer's
NC
Charlotte
$895,000
$870,000
926
173
155
32
Balanced
NC
Raleigh-Durham
$699,995
$675,000
946
158
214
2
Seller's
NV
Las Vegas
$725,000
$645,000
1,528
343
192
41
Buyer's
NY
Brooklyn
$1,539,000
$1,630,000
265
44
13
108
Buyer's
NY
Staten Island
$1,289,500
$1,087,500
174
29
12
76
Buyer's
ON
GTA - York
$2,298,000
$1,780,000
704
242
49
28
Buyer's
ON
Toronto
$3,388,000
$3,000,000
492
184
59
22
Buyer's
TN
Nashville
$1,000,000
$894,450
399
96
68
16
Balanced
TX
Austin
$1,003,275
$850,000
616
133
133
39
Seller's
TX
Collin County
$689,000
$670,000
871
151
124
77
Buyer's
TX
Dallas
$999,000
$935,000
751
147
110
33
Buyer's
TX
Fort Worth
$892,500
$762,500
714
126
84
46
Buyer's
TX
Houston
$837,500
$750,000
1,781
398
260
38
Buyer's
TX
The Woodlands & Spring
$775,000
$655,620
450
86
48
59
Buyer's
UT
Park City
$3,195,000
$2,375,000
255
30
21
83
Buyer's
VA
Arlington & Alexandria
$1,899,000
$1,620,000
90
13
11
39
Buyer's
VA
Fairfax County
$1,695,000
$1,340,000
468
69
60
77
Buyer's
VA
McLean & Vienna
$1,990,000
$1,545,948
207
24
21
81
Buyer's
WA
Seattle
$1,649,975
$1,542,500
216
65
80
18
Seller's
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
AB
Calgary
$802,450
$751,000
296
72
18
58
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$692,500
$592,500
140
43
20
33
Buyer's
AZ
Tucson
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,938,000
$1,777,777
723
192
41
29
Buyer's
BC
Victoria
$832,400
$810,600
198
64
55
31
Seller's
CA
Los Angeles Beach Cities
$1,618,000
$1,400,000
221
58
45
18
Balanced
CA
Los Angeles City
$1,567,500
$1,334,500
364
99
66
23
Balanced
CA
Los Angeles The Valley
$718,000
$660,000
129
44
40
22
Seller's
CA
Marin County
$1,224,000
$1,070,000
12
4
7
28
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$999,450
$957,500
552
108
92
48
Balanced
CA
Palm Springs & Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,056,500
$900,000
602
186
77
30
Buyer's
CA
San Francisco
$2,995,000
$2,175,000
108
12
27
20
Seller's
CA
Santa Barbara
$1,715,000
$2,135,001
50
9
4
17
Buyer's
CA
Silicon Valley
$1,437,115
$1,420,000
67
27
63
17
Seller's
CA
Ventura County
$725,000
$691,750
73
16
18
45
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.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Boulder
$897,000
$865,250
62
7
12
51
Balanced
CO
Denver
$710,000
$640,500
491
104
150
21
Seller's
CO
Douglas County
$634,000
$563,465
24
4
9
19
Seller's
CO
Vail
$3,837,500
$2,607,500
88
11
8
172
Buyer's
DC
Washington D.C.
$1,799,900
$1,500,000
175
51
35
26
Balanced
FL
Boca Raton & Delray Beach
$935,000
$832,500
389
81
32
35
Buyer's
FL
Greater Fort Lauderdale
$875,999
$850,000
1,283
200
59
97
Buyer's
FL
Jacksonville Beaches
$1,349,950
$875,000
52
7
7
81
Buyer's
FL
Miami
$999,000
$895,000
3,085
413
62
195
Buyer's
FL
Naples
$2,095,000
$1,699,000
340
58
33
99
Buyer's
FL
Orlando
$788,250
$1,086,500
76
7
2
36
Buyer's
FL
Palm Beach Towns
$1,295,000
$1,000,000
343
68
23
35
Buyer's
FL
Pinellas Coastal Towns
$871,195
$1,300,000
107
33
26
1
Seller's
FL
Sarasota & Beaches
$1,350,000
$1,431,250
263
51
20
80
Buyer's
FL
Tampa
$765,000
$585,000
105
33
13
32
Buyer's
GA
Atlanta
$659,900
$613,403
531
99
66
51
Buyer's
HI
Kauai
$1,295,000
$1,405,000
59
6
9
94
Balanced
HI
Maui
$1,850,000
$1,500,000
129
26
18
135
Buyer's
IL
Chicago
$1,195,000
$950,000
795
151
94
79
Buyer's
MA
Greater Boston
$2,350,000
$1,949,000
241
52
53
19
Seller's
MD
Montgomery County
$786,430
$645,000
145
35
45
42
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
$629,000
$582,000
107
11
7
106
Buyer's
MI
Oakland County
$799,000
$645,000
67
15
4
71
Buyer's
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$689,000
$654,739
141
18
16
58
Buyer's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NV
Las Vegas
-
-
-
-
-
-
-
NY
Brooklyn
$1,300,000
$1,100,000
607
117
68
68
Buyer's
NY
Staten Island
-
-
-
-
-
-
-
ON
GTA - York
$779,000
$725,000
143
57
15
35
Buyer's
ON
Toronto
$1,248,900
$1,180,000
386
239
115
14
Seller's
TN
Nashville
$737,500
$644,500
119
21
17
53
Buyer's
TX
Austin
$783,000
$700,000
180
27
35
34
Balanced
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$699,000
$737,500
201
46
24
58
Buyer's
TX
Ft. Worth
-
-
-
-
-
-
-
TX
Houston
$629,000
$565,888
201
44
23
42
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$1,895,000
$1,665,000
173
24
7
140
Buyer's
VA
Arlington & Alexandria
$1,125,000
$1,036,000
75
23
34
56
Seller's
VA
Fairfax County
$724,900
$670,000
119
32
51
56
Seller's
VA
McLean & Vienna
$993,890
$908,828
16
4
8
70
Seller's
WA
Seattle
$1,198,000
$1,222,500
127
23
14
18
Buyer's
Luxury is in each detail. Hubert de Givenchy
GTA - YORK
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2018 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $4,500,000+ $4,100,000 - $4,499,999 $3,700,000 - $4,099,999 $3,400,000 - $3,699,999
70
0 17
1
26
0
$2,600,000 - $2,799,999
45
40
0
54
3
56
6
$2,000,000 - $2,199,999
51
4
$1,900,000 - $1,999,999
$1,600,000 - $1,699,999
Total Sales Ratio2: 7%
0
$2,200,000 - $2,399,999
$1,700,000 - $1,799,999
Buyer's Market 35
3
$2,400,000 - $2,599,999
$1,800,000 - $1,899,999
Total Sales: 49
25
0
$3,100,000 - $3,399,999 $2,800,000 - $3,099,999
Total Inventory: 704
49
3 37
2
73
7 66
9
$1,500,000 - $1,599,999
60
11
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
$1,540,000
29
2
1
6
17%
3 Bedrooms
$2,000,000
34
5
4
86
5%
4 Bedrooms
$1,700,000
26
5
32
388
8%
5 Bedrooms
$1,914,000
32
6
10
171
6%
6+ Bedrooms
$1,993,500
55
5
2
32
6%
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
GTA - YORK
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,794,000
$1,894,500 $1,700,000
$1,712,500
$1,832,500
Inventory
$1,865,000
$1,739,500
$1,750,000
Solds
$1,880,000
$1,925,000
$1,800,000
932
129
52
Nov-17
96
30
118
Dec-17
33
Jan-18
155
52
Feb-18
226
573
398
305 68
74
74
Mar-18
Apr-18
May-18
57 Jun-18
Jul-18
704
67
51
$1,780,000
906
898
752
$1,830,000
59
Aug-18
Sep-18
53
49
Oct-18
Nov-18
MEDIAN DATA INVENTORY October
November
906
SOLDS October
November
704 VARIANCE: -22 %
49 VARIANCE: -8 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
October
November
N/A
N/A VARIANCE: N/A
53
October
SALES PRICE
November
95.19% 94.50% VARIANCE: -1 %
October
1.83m
$
November
1.78m VARIANCE: -3 % $
DAYS ON MARKET October
November
29
28 VARIANCE: -3 %
GTA - YORK MARKET SUMMARY | NOVEMBER 2018 • The GTA - York single-family luxury market is a Buyer's Market with a 7% Sales Ratio. • Homes sold for a median of 94.50% of list price in November 2018. • The most active price band is $1,500,000-$1,599,999, where the sales ratio is 18%. • The median luxury sales price for single-family homes has decreased to $1,780,000. • The median days on market for November 2018 was 28 days, down from 29 in October 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
GTA - YORK
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2018 Inventory
Sales
Luxury Benchmark Price 1: $650,000 $1,200,000+ $1,150,000 - $1,199,999 $1,100,000 - $1,149,999 $1,050,000 - $1,099,999
$1,000,000 - $1,049,999 $950,000 - $999,999 $900,000 - $949,999 $850,000 - $899,999
$800,000 - $849,999 $775,000 - $799,999 $750,000 - $774,999
9
0 2
0
Total Inventory: 143
2
0
Total Sales: 15
Total Sales Ratio2: 10%
0 0 11
0
7
0
13
1 10
1
15
1
5
1
$725,000 - $749,999
14
4
$700,000 - $724,999
2
$675,000 - $699,999 $650,000 - $674,999
Buyer's Market
5
0
3 34
4
13
1
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
0
NA
2 Bedrooms
$728,500
44
2
8
104
8%
3 Bedrooms
$689,000
34
3
7
36
19%
4 Bedrooms
NA
NA
NA
0
2
0%
5 Bedrooms
NA
NA
NA
0
0
NA
6+ Bedrooms
NA
NA
NA
0
1
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
GTA - YORK
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$790,000 $715,000
$735,000
$732,500
$694,500
Inventory
$764,800
$702,500
$720,000
Solds
$714,000
180
9
Nov-17
31
15
31
Dec-17
51 11
Jan-18
$735,000
184
185
$725,000
143
92
88
76
$752,500
148
143
36
$710,000
20
22
26
23
Feb-18
Mar-18
Apr-18
May-18
27 Jun-18
14 Jul-18
13
33
12
Aug-18
Sep-18
15
Oct-18
Nov-18
MEDIAN DATA INVENTORY October
November
185
SOLDS October
November
143 VARIANCE: -23 %
15 VARIANCE: -55 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
October
November
N/A
N/A VARIANCE: N/A
33
October
November
97.22% 97.94% VARIANCE: 1 %
SALES PRICE October
November
735k
$
$
725k VARIANCE: -1 %
DAYS ON MARKET October
November
26
35 VARIANCE: 35 %
GTA - YORK MARKET SUMMARY | NOVEMBER 2018 • The GTA - York attached luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 97.94% of list price in November 2018. • The most active price band is $700,000-$724,999, where the sales ratio is 67%. • The median luxury sales price for attached homes has decreased to $725,000. • The median days on market for November 2018 was 35 days, up from 26 in October 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
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 416.568.3912.
- Gabriela Marcu
GABRIELA MARCU
416.568.3912 | gsmarcu@gmail.com | www.GabyGTA.com