Gabriela Marcu Luxury Market Report NOV 19 by The Report Group

GABRIELA MARCU

LUXURY MARKET REPORT GREATER TORONTO AREA | NOVEMBER 2019 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 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

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

54 46

35 35

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

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

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



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

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



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

– 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

Calgary

$1,175,000

$1,042,500

714

211

Buyer's

Paradise Valley

$2,995,000

$2,425,000

211

237

Buyer's

Phoenix

$749,000

$634,235

699

219

197

Seller's

Scottsdale

$1,695,000

$1,445,000

847

222

117

Buyer's

Tucson

$747,000

$630,000

695

192

105

Balanced

Okanagan Valley

$1,600,000

$1,420,000

695

Buyer's

Vancouver

$3,998,000

$3,333,333

1,151

251

Buyer's

Victoria

$1,890,000

$1,433,000

401

Buyer's

Los Angeles Beach Cities

$4,897,500

$3,597,500

424

101

Buyer's

Los Angeles City

$4,149,000

$3,260,000

985

303

127

Buyer's

Los Angeles The Valley

$2,095,000

$1,772,500

615

221

146

Seller's

Marin County

$4,200,000

$2,800,000

137

Seller's

Napa County

$3,400,000

$2,475,000

153

128

Buyer's

Orange County

$2,499,894

$1,950,000

1,590

330

261

Balanced

Palm Springs & Palm Desert

$1,787,000

$1,375,000

473

141

Buyer's

Placer County

$999,995

$899,500

241

Seller's

Sacramento

$782,000

$720,000

886

282

288

Seller's

San Diego

$2,180,000

$1,640,000

1,241

351

275

Seller's

San Francisco

$4,095,000

$3,250,000

104

Seller's

Santa Barbara

$3,922,500

$4,262,500

328

108

Buyer's

Silicon Valley

$3,954,000

$3,250,000

350

146

121

Seller's

Ventura County

$1,760,000

$1,377,500

389

116

Balanced

Boulder

$1,649,500

$1,303,500

268

Balanced

Denver

$950,000

$825,500

1,215

373

389

Seller's

Douglas County

$1,250,000

$1,095,000

314

Seller's

Vail

$4,895,000

$3,550,000

125

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

Central Connecticut

$649,900

$572,000

520

Buyer's

Coastal Connecticut

$1,695,000

$1,355,000

1,568

206

119

Buyer's

Washington D.C.

$2,997,900

$2,745,000

Buyer's

$2,292,500

$1,828,500

564

126

Buyer's

$1,600,000

$1,369,000

115

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

Greater Fort Lauderdale

$1,325,000

$930,000

1,629

332

129

Buyer's

Jacksonville Beaches

$1,250,000

$1,200,077

336

Buyer's

Miami

$1,299,000

$1,000,000

1,467

262

160

Buyer's

Naples

$2,000,000

$1,625,000

713

131

103

Buyer's

Orlando

$1,600,000

$1,373,587

470

128

Buyer's

Palm Beach Towns

$3,392,500

$1,950,000

370

Buyer's

Sarasota & Beaches

$1,697,500

$1,360,000

564

107

106

Buyer's

Tampa

$789,750

$676,000

882

187

133

Balanced

Atlanta

$1,150,000

$1,249,950

1,318

321

104

Buyer's

Kauai

$2,590,000

$1,270,000

119

153

Buyer's

Maui

$3,300,000

$2,612,500

191

218

Buyer's

Oahu

$3,200,000

$2,365,000

265

Buyer's

Chicago

$1,229,000

$1,007,500

1,909

435

200

106

Buyer's

Hamilton County

$749,900

$653,750

307

Balanced

Greater Boston

$3,495,000

$2,700,000

169

Buyer's

Montgomery County

$1,795,000

$1,479,250

371

Balanced

Talbot County

$1,795,000

$1,275,000

119

Buyer's

Worcester County

$899,000

$877,000

Buyer's

Oakland County

$722,450

$620,000

1,296

396

161

Buyer's

St. Louis

$752,450

$619,000

212

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

Charlotte

$899,900

$787,250

901

193

234

Seller's

Raleigh-Durham

$719,900

$685,000

1,093

204

215

Balanced

Ocean County

$890,000

$807,500

733

146

Buyer's

Las Vegas

$737,468

$610,000

1,681

440

291

Balanced

Reno

$1,350,000

$1,220,654

140

Balanced

Brooklyn

$1,599,000

$1,450,000

276

Buyer's

Staten Island

$1,199,999

$1,087,500

217

Buyer's

GTA - Durham

$1,599,000

$1,384,500

277

114

Buyer's

GTA - York

$2,348,000

$1,775,000

831

313

Buyer's

Toronto

$3,449,000

$3,050,000

574

283

Buyer's

Knox County

$775,000

$651,000

241

Balanced

Nashville

$1,285,000

$951,000

262

Seller's

Austin

$1,049,000

$790,000

640

174

197

Seller's

Collin County

$699,824

$650,000

916

191

123

Buyer's

Dallas

$995,000

$915,000

960

224

127

Buyer's

Fort Worth

$875,000

$745,000

845

186

137

Balanced

Houston

$825,000

$750,000

2,072

560

259

Buyer's

The Woodlands & Spring

$820,000

$711,000

484

111

Buyer's

Park City

$3,395,000

$2,248,994

257

116

Buyer's

Arlington & Alexandria

$1,899,000

$1,695,000

109

Buyer's

Fairfax County

$1,699,000

$1,390,000

549

117

Buyer's

McLean & Vienna

$1,899,999

$1,789,000

243

Buyer's

Richmond

$840,109

$776,500

287

116

Seller's

Greater Seattle

$1,899,925

$1,575,000

850

227

278

Seller's

Seattle

$1,799,950

$1,450,000

271

123

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

Calgary

$822,748

$837,500

298

Buyer's

Paradise Valley

Phoenix

Scottsdale

$750,000

$627,500

226

Seller's

Tucson

Okanagan Valley

Vancouver

$1,850,000

$1,618,000

833

275

Buyer's

Victoria

$799,900

$749,900

311

Balanced

Los Angeles Beach Cities

$1,785,000

$1,390,000

215

Seller's

Los Angeles City

$1,495,000

$1,175,000

381

127

Balanced

Los Angeles The Valley

$725,000

$665,875

122

Seller's

Marin County

$1,287,000

$1,465,000

Seller's

Napa County

Orange County

$999,999

$980,000

445

136

107

Seller's

Palm Springs & Palm Desert

Placer County

Sacramento

San Diego

$1,081,375

$871,250

598

209

136

Seller's

San Francisco

$2,700,000

$2,353,125

157

Seller's

Santa Barbara

$1,847,500

$1,362,500

Buyer's

Silicon Valley

$1,409,495

$1,410,000

122

Seller's

Ventura County

$781,450

$692,000

Seller's

Boulder

$819,000

$730,450

Seller's

Denver

$674,950

$617,000

608

191

217

Seller's

Douglas County

$610,000

$660,000

126

Seller's

Denver

$674,950

$617,000

608

191

217

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

Central Connecticut

Coastal Connecticut

$777,000

$642,500

280

Buyer's

Washington D.C.

$1,795,000

$1,535,000

209

Seller's

$959,000

$677,500

444

114

Buyer's

$1,329,000

$742,500

145

159

Buyer's

$875,000

$775,000

1,240

204

147

Buyer's

FL FL

Boca Raton & Delray Beach Coastal Pinellas County Towns

Greater Fort Lauderdale

Jacksonville Beaches

$1,062,500

$1,025,000

231

Buyer's

Miami

$1,038,000

$900,000

2,896

420

137

Buyer's

Naples

$2,195,000

$1,900,000

259

164

Buyer's

Orlando

$671,865

$649,000

Buyer's

Palm Beach Towns

$1,450,000

$1,900,000

370

153

Buyer's

Sarasota & Beaches

$1,397,275

$1,118,500

248

Buyer's

Tampa

$699,950

$580,000

122

Balanced

Atlanta

$675,000

$630,000

622

183

Buyer's

Kauai

$1,472,500

$1,008,000

Buyer's

Maui

$1,795,000

$1,930,000

139

493

Balanced

Oahu

$1,290,000

$1,115,000

425

Buyer's

Chicago

$1,150,000

$975,000

1,069

308

117

Buyer's

Hamilton County

Greater Boston

$2,295,000

$1,900,000

316

Buyer's

Montgomery County

$774,995

$715,000

184

Seller's

Talbot County

Worcester County

$598,000

$775,000

115

Buyer's

Oakland County

$699,900

$604,385

Buyer's

St. Louis

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

Charlotte

$730,000

$667,003

163

Buyer's

Raleigh-Durham

Ocean County

$669,000

$563,500

125

Buyer's

Las Vegas

Reno

Brooklyn

$1,319,000

$1,052,500

651

123

Buyer's

Staten Island

GTA - Durham

$678,950

$629,000

Seller's

GTA - York

$858,000

$839,000

303

216

134

Seller's

Toronto

$1,268,000

$1,150,000

599

450

228

Seller's

Knox County

Nashville

$885,000

$690,000

Seller's

Austin

$799,386

$646,000

213

Buyer's

Collin County

Dallas

$747,000

$804,500

214

Buyer's

Ft. Worth

Houston

$646,450

$540,000

194

Buyer's

The Woodlands & Spring

Park City

$1,889,850

$1,835,000

148

Balanced

Arlington & Alexandria

$1,249,000

$918,000

Seller's

Fairfax County

$719,894

$669,500

186

Seller's

McLean & Vienna

$1,242,500

$890,000

Buyer's

Richmond

Greater Seattle

$1,099,973

$1,175,000

210

Seller's

Seattle

$1,195,000

$1,161,500

140

Seller's

Luxury is in each detail. Hubert de Givenchy

G TA - YO R K ONTARIO –November 2019–

GTA - YORK

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | OCTOBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $1,500,000 $7,100,000+ $6,300,000 - $7,099,999 $5,500,000 - $6,299,999 $4,700,000 - $5,499,999

$4,100,000 - $4,699,999

0 9

$2,800,000 - $3,199,999

$2,500,000 - $2,799,999 $2,300,000 - $2,499,999 $2,100,000 - $2,299,999 $1,900,000 - $2,099,999

Total Sales: 77

103

23 85

$1,500,000 - $1,599,999

Total Sales Ratio2: 9%

$1,700,000 - $1,899,999 $1,600,000 - $1,699,999

Buyer's Market

$3,600,000 - $4,099,999 $3,200,000 - $3,599,999

Total Inventory: 831

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Total-

-Sold/Inventory-

0-1 Bedrooms

2 Bedrooms

$1,880,000

3 Bedrooms

$1,722,000

10%

4 Bedrooms

$1,750,000

470

10%

5 Bedrooms

$1,984,000

203

10%

6+ Bedrooms

$3,375,000

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.

GTA - YORK

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,830,000

$1,780,000

$1,902,500

$1,762,500

$1,785,000

886

Oct-18

510

500

Nov-18

Dec-18

$1,754,000

$1,678,444

Solds

$1,868,000

941

898

815

748

685

$1,750,000

Inventory

$1,775,000

$1,748,000

888

$1,710,000

$1,775,000

871

821

831

400

28 Jan-19

Feb-19

Mar-19

Apr-19

May-19

71 Jun-19

Jul-19

Aug-19

Sep-19

77 Oct-19

MEDIAN DATA INVENTORY September

October

871

SOLDS September

October

831 VARIANCE: -5 %

77 VARIANCE: -3 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

September

October

N/A

N/A VARIANCE: N/A

September

October

96.22% 94.73% VARIANCE: -2 %

SALES PRICE September

1.71m

October

1.78m VARIANCE: 4 % $

DAYS ON MARKET September

October

29 VARIANCE: 21 %

GTA - YORK MARKET SUMMARY | OCTOBER 2019 • The GTA - York single-family luxury market is a Buyer's Market with a 9% Sales Ratio. • Homes sold for a median of 94.73% of list price in October 2019. • The most active price band is $1,700,000-$1,899,999, where the sales ratio is 22%. • The median luxury sales price for single-family homes has increased to $1,775,000. • The median days on market for October 2019 was 29 days, up from 24 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

GTA - YORK

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | OCTOBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $650,000 $1,700,000+ $1,600,000 - $1,699,999 $1,500,000 - $1,599,999 $1,400,000 - $1,499,999

0 0

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

Total Inventory: 303

Total Sales: 134 Seller's Market

$1,300,000 - $1,399,999 $1,200,000 - $1,299,999

Total Sales Ratio2: 44%

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

$950,000 - $999,999

$900,000 - $949,999

$850,000 - $899,999 $800,000 - $849,999

$750,000 - $799,999

$700,000 - $749,999

$650,000 - $699,999

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Total-

-Sold/Inventory-

0-1 Bedrooms

2 Bedrooms

$705,000

102

21%

3 Bedrooms

$852,500

167

59%

4 Bedrooms

$850,000

54%

5 Bedrooms

6+ Bedrooms

GTA - YORK

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$795,000

$799,000

$785,900

$780,000

$786,250

Inventory

$800,000

$801,056

366

374

$819,000

481 355 261

251 116

Oct-18

100

Nov-18

Dec-18

205 57

Jan-19

78 Feb-19

400

Mar-19

$799,900

$802,500

426

454

164

148

120

Solds

Apr-19

May-19

119

Jun-19

138

$785,000

$796,000

327

352

Aug-19

303 134

107

100

Jul-19

$839,000

Sep-19

Oct-19

MEDIAN DATA INVENTORY September

October

352

303 VARIANCE: -14 % SALE PRICE PER SQFT. September

October

N/A

N/A VARIANCE: N/A

SOLDS September

October

107

134 VARIANCE: 25 %

SALE TO LIST PRICE RATIO September

October

98.47% 98.48% VARIANCE: 0 %

SALES PRICE September

796k

October

839k VARIANCE: 5 % $

DAYS ON MARKET September

October

16 VARIANCE: -6 %

GTA - YORK MARKET SUMMARY | OCTOBER 2019 • The GTA - York attached luxury market is a Seller's Market with a 44% Sales Ratio. • Homes sold for a median of 98.48% of list price in October 2019. • The most active price band is $900,000-$949,999, where the sales ratio is 80%. • The median luxury sales price for attached homes has increased to $839,000. • The median days on market for October 2019 was 16 days, down from 17 in September 2019.

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