LOUIS TAYLOR L U X U RY MARKET REPORT
LOS ANGELES BEACH, CITY & VA L L E Y
M AY 2 0 1 9
LOUIS TAYLOR
REALTOR®, CLHMS, GUILD, GREENGREEN, CPRES, SRES
CA: 818.849.4029 VA: 571.577.8508
louis.taylor@eXprealty.com www.clientfirstapproach.com | louistaylor.exprealty.com A seasoned agent known for his passion, diligence, and unwavering commitment to his clients, Louis Taylor has helped thousands of individuals buy and sell homes across the country for more than a decade. A frequent presenter at industry conventions and media events, he is recognized as a real estate expert who positively influenced the industry during one of its most challenging times. With an extensive knowledge of the area and the surrounding communities throughout Northern Virginia, Maryland, Washington DC, the San Fernando Valley, the Westside and all of Los Angeles County, Louis always greets his clients with a warm smile, professionalism, and prompt follow-up. His strong grasp of technology, data, analytics, and attention to detail have earned him numerous referrals from satisfied clients. He serves as a trusted advisor throughout every step of a transaction, helping his clients make sound decisions and avoid common pitfalls. Having sold homes in more than 35 states, Louis offers a wide breadth of market knowledge and an extensive professional network that has proven invaluable to his clients. Bringing both of his real estate teams to eXp in Virginia and in California, Louis has been ranked among the leaders in each brokerage he has worked at earning brokerage’s prestigious Triple Platinum designation for his impressive sales volume and impeccable customer service. In 2019, Louis earned his Seniors Real Estate Specialist® (SRES®) and became a Member of The Institute for Luxury Home Marketing and has been awarded the prestigious CLHMS™ designation and simultaneously earned the GUILD™ recognition!
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 19
BEACH CITIES MARKET REVIEW
PAGE 24
CITY MARKET REVIEW
PAGE 29
VALLEY MARKET REVIEW
PAGE 34
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.
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 © 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 Spring, Taxes, Global Impacts, and New Realities It was predicted last year that the new tax laws in the US, limiting deductions on mortgage interest and property tax, would cause a slowdown in the overall real estate market. However, it would seem that they have had very little effect. The reality is that other factors have had more influence in the luxury market for both the US and Canada. It has been the impact of global economic uncertainty, changes in purchasing decisions, and a relocation away from high local taxes that have caused the most significant differences. Lawrence Yun, NAR chief economist, stated in January 2019 “The forecast for home sales will be very boring – meaning stable,” and as we can see from the North American statistics (that represent over 65 of the top affluent cities) this statement is, for the most part accurate. In a recent report from Mansion Global, it was stated that while the average entry price for a luxury property has risen to $1.26 million in February - a 3.9% rise - the average market price for luxury homes has dropped 5.1% compared to the same time last year.* It must be clarified that Mansion Global focuses on the Top 5% of the market, whereas The Institute focuses on home sales in the Top 10%. As recognized in previous reports, there are markets still seeing growth in their sales and price points, typically lower-priced or new luxury markets such as Houston and Austin in Texas, Nashville in Tennessee, Arlington in Virginia, and Montreal and Ottawa in Canada. However, the majority of luxury communities have seen a plateau in their sales and home values and a number of traditionally expensive cities, whose price points are typically higher than average, are seeing a decline. To gain a perspective of the luxury market from the ground up, we are turning to our members to provide their local insights on the trends and expectations of this transitioning market. Look to see how these findings could also prove relevant to your market or property type. This month we have chosen three diametrically opposite cities. Vancouver on Canada’s West Coast is
recognized as one of the newest desirable luxury cosmopolitan cities to have emerged in the last 10 years. Well-heeled and established Chicago, Illinois is considered to be a rock of stability in terms of its real estate market and Scottsdale, Arizona, is the epitome of retiring wealth and second homes. Between 2008 and 2016, Vancouver’s real estate prices surged to a point that local residents struggled to purchase within their own city. In efforts to tame the market, 2016 saw the implementation of a slew of taxes and regulations. These taxes are mainly applicable to foreign investors and non-residents, who many considered to be the reason behind this explosion. The luxury market was the first to feel the impact of the regulations with the number of sales dropping 26% in the $1 million price range and a staggering 49% for the $4 million plus during 2018. Nearly two years later, the lower end of the luxury market is faring better, however, the upper end is still seeing a softening in its price points. “Affluent buyers are beginning to return as they realise it’s a great time to buy in Vancouver,” says Elizabeth McQueen, a Top 5% Luxury Professional in Vancouver with over 25 years of experience, “especially for buyers looking for the lifestyle associated with living in this cosmopolitan city.” McQueen continues that “prices have dropped and sellers have just needed to take time to become re-educated with this new paradigm. Just look at any established luxury city throughout the world – London, Paris, New York, Sydney, they have had heavy taxes on their luxury homes for many decades.” This may be a cautionary tale to luxury markets that are currently experiencing exponential growth! However, McQueen says that if you look at statistics over a long period of time, market corrections are always followed by prices going higher once the market returns, after all, the demand for land and property still exceeds supply. Chicago, considered to be the city of steady real estate growth, reported in 2018 that the luxury market of $1 million plus grew only 1.7% compared to a big year of 10% in 2017, and the forecast of a slower 2019 has proven true to date. “Most of this year’s luxury sales have been for the new luxury condominium market” states Patrick Ryan, another long-term veteran with over 15 years of experience as an active luxury expert, consultant, and managing broker. “The demand far outweighs the supply for these new luxurious 12-1,400 square foot apartments, which has caused an anomaly in our market as they fetch extraordinary prices; whereas older condos are proving harder and taking longer to sell – and this disparity could be the reason for a decrease in the number of sales.” Ryan’s advice to sellers in more established homes is to recognize that in today’s market their home
could be considered dated as the vast number of affluent buyers are looking for turnkey properties with all the modern accoutrements. “Time and immediate satisfaction are of the utmost importance to affluent buyers – they simply do not want to waste their time doing renovations, and they are willing to pay the price. Today’s buyers have all the information at their fingertips, and if your home isn’t marketed to showcase its significant differentiators, they will move by quickly to find the home that does check their boxes.” Ryan also sees a trend of both technology and medical industries moving into Chicago, and forecasts the downtown infrastructure, public transportation, and affordability compared to west coast cities will probably spearhead the luxury market in future years. This is a trend that is being emulated in many of the secondary luxury markets in the central and eastern areas of the continent. Scottsdale, long associated with as a winter home destination for snowbirds, retirees looking for great weather for 9-10 months of the year, and its lower cost of living (and let's not forget golfing) is experiencing an increasing influx of new homeowners from California, Seattle, Chicago, and New York. As Jordon Ayan, partner and founder of The Lifestyle Collection, states “the most common reason I hear that people are looking to move to Scottsdale is because ‘taxes are killing them in other parts of the US’ and they are ready to either downsize or enjoy a property that offers better amenities for their money.” To date, statistics show a slow start of the traditionally busy spring/summer season throughout North America, but perhaps Scottsdale will be indicative of the trend to come. “Scottsdale’s busy season typically starts in October and runs through to May, but this year buyers came to the table rather late with sales starting to close in March and April” stated Ayan. “Buyers are definitely more educated; they know the inventory and have often been researching the stats for months. Their buying trends are moving towards smaller homes with large storage spaces and the lock and leave properties.” Agreeing with both Elizabeth McQueen and Patrick Ryan, Jordon Ayan explained that the other major trend is for new or completely renovated properties and these buyers, typically young empty nesters or retirees are looking for turnkey properties with little associated work. Despite the differences in these markets, it is obvious that the trends we have been reporting on for the last six months - such as smaller properties, new or completely renovated turnkey homes, lower price points to allow multiple location ownership, and greater access to lifestyle and local amenities - are the key aspects in understanding today’s luxury real estate market. *Information from Mansion Global based on 85 luxury markets included in their index of Top 5% of the sold market.
– 13 - MONTH MARKET TRENDS – FOR THE LUXURY NORTH AMERICAN MARKET
Single-Family Homes
Attached Homes
Single-Family List Price
Attached List Price
All data is based off median values. Median prices represent properties priced above respective city benchmark prices.
DAYS ON MARKET
80
60
54
49 42
35
40
41 34
31
57
35
35
35
MAY
JUN
JUL
52
47
42
39
AUG
SEP
58
63
61 57
48
46
42
45
43
43 39
20
0
APR
OCT
NOV
DEC
JAN
FEB
MAR
APR
$526 $396
$470 $388
$486 $382
$472 $375
$483 $365
$386
$347
$458
$484
$492 $326
$459 $318
$484
$472 $339
$300
$348
$474 $357
$400
$466
$500
$344
PRICE PER SQUARE FOOT
$600
$200
$100
$0
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAR
APR
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
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
Discrepancies between statistics published between the January 2019 and February 2019 Luxury Market Reports are due to the addition of Reno, NV.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month March 2019 | April 2019
SINGLE-FAMILY HOMES March
April
March
April
Median List Price
$1,681,000 $1,697,000
Total Inventory
41,383
42,917
Median Sale Price
$1,418,750 $1,472,000
New Listings
12,247
13,083
5,600
6,896
48
43
3,530
3,639
Median SP/LP Ratio
97.22%
96.94%
Total Sold
Total Sales Ratio
13.53%
16.07%
Median Days on Market
$388
$396
Median Price per Sq. Ft.
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
836
1,296
New Listings
Total Sold
5
2.54%
Med. Sale Price
Days on Market
Sales Ratio
53,250
$
SINGLE-FAMILY HOMES MARKET SUMMARY | APRIL 2019 •
Official Market Type: Balanced Market with a 16.07% Sales Ratio.1
•
Homes are selling for an average of 96.94% of list price.
•
The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,472,000.
•
Markets with the Highest Median Sales Price: LA - Beach Cities ($3,800,000), Napa County ($3,500,000), Vancouver ($3,362,500), and San Francisco ($3,296,000).
•
Markets with the Highest Sales Ratio: San Francisco (84%), Seattle (53%), Silicon Valley (52%), and Washington D.C. (44%). 1
Sales Ratio defines market speed and market type: Buyer's < 14.5%; 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 March 2019 | April 2019
ATTACHED HOMES March
Median List Price Median Sale Price
April
$1,046,495 $1,069,000
March
April
Total Inventory
15,919
16,202
New Listings
4,248
4,478
2,034
2,611
43
39
2,009
2,063
$879,000
$925,000
Median SP/LP Ratio
97.94%
98.18%
Total Sold
Total Sales Ratio
12.78%
16.12%
Median Days on Market
$470
$526
Median Price per Sq. Ft.
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
230
577
New Listings
Total Sold
Med. Sale Price
Days on Market
46,000
$
4
3.34% Sales Ratio
ATTACHED HOMES MARKET SUMMARY | APRIL 2019 •
Official Market Type: Balanced Market with an 16.12% Sales Ratio.1
•
Attached homes are selling for an average of 98.18% of list price.
•
The median luxury threshold2 price is $693,725, and the median attached luxury sale price is $925,000.
•
Markets with the Highest Median Sales Price: Vail ($2,780,000), San Francisco ($2,360,000), Naples ($2,356,378), and Park City ($2,082,500).
•
Markets with the Highest Sales Ratio: Arlington & Alexandria (109%), Fairfax County (98%), Silicon Valley (73%), and Marin County (64%). 1
Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$1,150,000
$1,030,670
733
257
92
38
Buyer's
AZ
Paradise Valley
$2,995,000
$3,019,900
265
35
23
124
Buyer's
AZ
Phoenix
$729,000
$636,250
918
265
208
61
Seller's
AZ
Scottsdale
$1,695,000
$1,391,250
980
174
124
96
Buyer's
AZ
Tucson
$759,500
$630,000
784
148
112
28
Buyer's
BC
Okanagan Valley
$1,690,000
$1,485,000
185
62
7
68
Buyer's
BC
Vancouver
$3,990,000
$3,362,500
1,231
379
78
38
Buyer's
BC
Victoria
$1,896,500
$1,474,500
384
149
22
49
Buyer's
CA
Los Angeles Beach Cities
$4,995,000
$3,800,000
414
114
47
22
Buyer's
CA
Los Angeles City
$3,995,000
$3,100,000
953
354
123
38
Buyer's
CA
Los Angeles The Valley
$2,200,000
$1,721,000
623
256
128
28
Balanced
CA
Marin County
$3,449,000
$3,050,000
181
51
43
20
Seller's
CA
Napa County
$2,895,000
$3,500,000
156
42
5
31
Buyer's
CA
Orange County
$2,447,000
$1,800,000
1,774
527
293
35
Balanced
CA
Palm Springs & Palm Desert
$1,850,000
$1,550,000
596
87
97
81
Balanced
CA
Placer County
$1,050,495
$900,000
268
111
67
23
Seller's
CA
Sacramento
$786,500
$710,000
842
409
303
13
Seller's
CA
San Diego
$2,199,000
$1,600,000
1,328
506
267
28
Balanced
CA
San Francisco
$4,195,000
$3,296,000
57
29
48
14
Seller's
CA
Santa Barbara
$3,795,000
$3,092,000
293
90
26
54
Buyer's
CA
Silicon Valley
$3,799,500
$3,198,000
254
139
133
10
Seller's
CA
Ventura County
$1,850,000
$1,480,000
351
114
55
50
Balanced
CO
Boulder
$1,740,000
$1,450,000
245
118
65
52
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
$995,000
$849,000
1,133
502
451
11
Seller's
CO
Douglas County
$1,290,000
$1,175,000
314
122
53
18
Balanced
CO
Vail
$4,300,000
$2,888,753
111
7
8
288
Buyer's
DC
Washington D.C.
$3,249,500
$2,250,000
64
27
28
28
Seller's
$2,199,000
$1,787,500
635
75
48
146
Buyer's
$1,699,000
$1,400,000
92
10
11
52
Buyer's
FL FL
Boca Raton & Delray Beach Costal Pinellas County Towns
FL
Greater Fort Lauderdale
$1,295,000
$965,000
1,671
312
153
86
Buyer's
FL
Jacksonville Beaches
$1,248,300
$1,350,000
344
72
35
54
Buyer's
FL
Miami
$1,340,000
$1,055,000
1,509
252
85
118
Buyer's
FL
Naples
$2,250,000
$1,710,000
775
82
108
89
Buyer's
FL
Orlando
$1,595,000
$1,430,000
544
103
52
145
Buyer's
FL
Palm Beach Towns
$3,350,000
$2,187,500
445
61
38
120
Buyer's
FL
Sarasota & Beaches
$1,675,000
$1,488,750
636
85
56
104
Buyer's
FL
Tampa
$780,000
$709,500
841
213
126
49
Buyer's
GA
Atlanta
$1,125,000
$947,500
1,422
468
232
20
Balanced
HI
Kauai
$2,395,000
$1,530,000
165
20
10
68
Buyer's
HI
Maui
$3,100,000
$2,150,000
211
18
15
120
Buyer's
HI
Oahu
$3,300,000
$2,458,000
223
55
8
41
Buyer's
IL
Chicago
$1,249,000
$1,059,000
2,034
793
267
48
Buyer's
MA
Greater Boston
$3,224,500
$2,402,000
140
51
26
27
Balanced
MD
Montgomery County
$1,699,500
$1,422,500
369
157
56
21
Balanced
MD
Talbot County
$1,795,000
$1,670,000
104
21
6
309
Buyer's
MD
Worcester County
$954,450
$865,000
74
18
1
152
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
MI
Oakland County
$749,000
$620,000
1,119
437
149
32
Buyer's
MO
St. Louis
$749,900
$641,000
212
79
45
46
Seller's
NC
Charlotte
$899,000
$810,000
1,103
309
241
34
Seller's
NC
Raleigh-Durham
$714,900
$656,032
1,037
287
247
0
Seller's
NJ
Ocean County
$875,000
$850,000
751
173
63
51
Buyer's
NV
Las Vegas
$723,581
$612,950
1,607
538
258
35
Balanced
NV
Reno
$1,375,000
$1,175,000
113
24
22
83
Balanced
NY
Brooklyn
$1,490,000
$1,180,000
309
78
14
130
Buyer's
NY
Staten Island
$1,199,800
$1,500,000
201
57
4
76
Buyer's
ON
GTA - York
$2,238,888
$1,678,888
841
419
75
24
Buyer's
ON
Toronto
$3,498,000
$3,012,000
499
291
97
13
Balanced
TX
Austin
$1,100,000
$825,000
642
254
240
10
Seller's
TX
Collin County
$720,000
$665,000
968
320
179
33
Balanced
TX
Dallas
$999,999
$840,000
988
303
175
34
Balanced
TX
Fort Worth
$850,000
$730,000
868
277
149
24
Balanced
TX
Houston
$839,900
$759,013
2,117
680
324
21
Balanced
TX
The Woodlands & Spring
$799,000
$735,000
486
153
73
35
Balanced
UT
Park City
$3,494,000
$2,475,000
233
20
28
109
Buyer's
VA
Arlington & Alexandria
$1,999,000
$1,795,000
94
28
20
44
Seller's
VA
Fairfax County
$1,599,000
$1,469,500
571
201
86
47
Balanced
VA
McLean & Vienna
$1,800,000
$1,599,000
247
84
41
56
Balanced
WA
Seattle
$1,795,000
$1,525,000
240
131
127
8
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
$802,450
337
117
34
46
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$687,000
$680,000
220
49
45
70
Balanced
AZ
Tucson
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,888,844
$1,640,000
906
375
65
15
Buyer's
BC
Victoria
$869,900
$750,000
253
108
43
27
Balanced
CA
Los Angeles Beach Cities
$1,685,000
$1,420,000
188
74
75
23
Seller's
CA
Los Angeles City
$1,549,500
$1,182,500
370
119
84
28
Seller's
CA
Los Angeles The Valley
$699,000
$669,000
130
63
66
30
Seller's
CA
Marin County
$1,149,500
$1,000,000
14
9
9
25
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,069,000
$950,000
533
178
149
28
Seller's
CA
Palm Springs & Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,099,000
$829,000
563
226
124
28
Seller's
CA
San Francisco
$2,900,000
$2,360,000
127
33
45
18
Seller's
CA
Santa Barbara
$1,787,500
$1,240,000
44
10
3
2
Buyer's
CA
Silicon Valley
$1,398,464
$1,410,000
108
72
79
9
Seller's
CA
Ventura County
$699,000
$686,500
72
32
14
45
Balanced
CO
Boulder
$957,500
$993,000
62
14
13
94
Balanced
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
$675,000
$643,750
570
226
222
17
Seller's
CO
Douglas County
$699,000
$580,000
25
8
15
12
Seller's
CO
Vail
$3,995,000
$2,780,000
103
7
5
53
Buyer's
DC
Washington D.C.
$1,889,000
$1,600,000
161
65
43
9
Seller's
$884,000
$738,750
406
71
58
84
Buyer's
$873,098
$1,050,000
116
20
15
30
Buyer's
$875,000
$781,000
1,315
204
82
109
Buyer's
FL FL
Boca Raton & Delray Beach Coastal Pinellas County Towns
FL
Greater Fort Lauderdale
FL
Jacksonville Beaches
$1,250,000
$1,315,000
68
16
5
189
Buyer's
FL
Miami
$1,039,000
$1,020,000
2,953
341
93
175
Buyer's
FL
Naples
$2,075,000
$2,356,378
285
38
44
67
Balanced
FL
Orlando
$659,900
$697,500
76
14
13
18
Balanced
FL
Palm Beach Towns
$1,395,000
$1,500,000
375
46
44
144
Buyer's
FL
Sarasota & Beaches
$1,395,000
$1,272,868
273
40
40
96
Buyer's
FL
Tampa
$709,450
$634,000
136
41
19
56
Buyer's
GA
Atlanta
$659,000
$598,500
542
174
104
39
Balanced
HI
Oahu
$1,385,000
$919,348
58
10
14
39
Seller's
HI
Kauai
$1,875,000
$1,360,000
151
20
15
160
Buyer's
HI
Maui
$1,300,000
$975,000
422
74
50
62
Buyer's
IL
Chicago
$1,195,000
$932,500
985
364
157
65
Balanced
MA
Greater Boston
$2,447,000
$1,850,000
264
87
38
31
Buyer's
MD
Montgomery County
$797,000
$667,000
146
57
69
29
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$616,200
$542,500
108
19
9
110
Buyer'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
MI
Oakland County
$999,615
$635,000
63
14
10
45
Balanced
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$699,000
$673,717
150
24
21
23
Buyer's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$635,000
$617,000
145
18
20
74
Buyer's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,349,999
$980,000
641
187
50
55
Buyer's
NY
Staten Island
-
-
-
-
-
-
-
ON
GTA - York
$739,000
$712,000
144
96
38
20
Seller's
ON
Toronto
$1,209,900
$1,192,500
481
385
172
10
Seller's
TX
Austin
$824,900
$679,000
195
55
47
24
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$699,000
$657,500
224
66
26
63
Buyer's
TX
Ft. Worth
-
-
-
-
-
-
-
TX
Houston
$649,000
$627,500
217
80
22
40
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$1,950,000
$2,082,500
181
11
18
90
Buyer's
VA
Arlington & Alexandria
$1,099,999
$958,000
45
23
49
27
Seller's
VA
Fairfax County
$779,900
$659,000
101
56
99
10
Seller's
VA
McLean & Vienna
$1,416,000
$835,000
26
10
14
40
Seller's
WA
Seattle
$1,157,500
$925,000
124
32
23
19
Balanced
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.
Luxury is in each detail. Hubert de Givenchy
LA - BEACH CITIES
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | APRIL 2019 Inventory
Sales
Luxury Benchmark Price 1: $2,500,000 $8,000,000+ $7,000,000 - $7,999,999
$3,750,000 - $3,999,999
23
26
4 22
1
21
1
$3,000,000 - $3,249,999
17
7
12
2
$2,800,000 - $2,899,999
17
4
$2,700,000 - $2,799,999
4
$2,600,000 - $2,699,999
Total Sales Ratio2: 11%
32
3
$2,900,000 - $2,999,999
Buyer's Market
47
2
$4,000,000 - $4,499,999
$2,500,000 - $2,599,999
Total Sales: 47
4
$4,500,000 - $4,999,999
Total Inventory: 414
23
4
$5,000,000 - $5,999,999
$3,250,000 - $3,499,999
31
3
$6,000,000 - $6,999,999
$3,500,000 - $3,749,999
102
4
11 16
3
14
1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,900,000
3
3
11
103
11%
3,000 - 3,999
$3,050,000
5
5
17
89
19%
4,000 - 4,999
$3,930,775
5
5
7
87
8%
5,000 - 5,999
$5,422,500
6
7
8
39
21%
6,000 - 6,999
NA
NA
NA
0
26
0%
7,000+
$8,150,000
6
6
3
48
6%
The luxury threshold price is set by The Institute for Luxury Home Marketing based on reported data. 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
LA - BEACH CITIES
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$3,875,000
$3,592,500
432
409
396
$3,500,000
69
84
Apr-18
May-18
$3,872,000
395
85 Jun-18
$3,735,000
55
Jul-18
$3,937,500
$3,800,000
$3,250,000
412
391
Inventory
410
69
53
Aug-18
Sep-18
$3,582,500
362
62 Oct-18
Solds
$4,026,750
$3,750,000
47
42
Nov-18
Dec-18
26
60
47
Mar-19
Apr-19
23
Jan-19
Feb-19
$3,800,000
414
374
365
320
280
$3,552,500
MEDIAN DATA INVENTORY March
April
374
SOLDS March
SALES PRICE April
414 VARIANCE: 11 %
47 VARIANCE: -22 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
March
April
1,111
970 VARIANCE: -13 %
$
$
60
March
April
98.02% 97.95% VARIANCE: 0 %
March
3.55m
$
April
3.80m VARIANCE: 7 % $
DAYS ON MARKET March
April
31
22 VARIANCE: -29 %
LA - BEACH CITIES MARKET SUMMARY | APRIL 2019 • The LA - Beach Cities single-family luxury market is a Buyer's Market with an 11% Sales Ratio. • Homes sold for a median of 97.95% of list price in April 2019. • The most active price band is $3,000,000-$3,249,999, where the sales ratio is 41%. • The median luxury sales price for single-family homes has increased to $3,800,000. • The median days on market for April 2019 was 22 days, down from 31 in March 2019. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
LA - BEACH CITIES
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | APRIL 2019 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999
$2,250,000 - $2,499,999
Total Inventory: 188
2
0
Total Sales: 75 Seller's Market
10
1
$3,000,000 - $3,499,999
$2,500,000 - $2,749,999
3
1
$3,500,000 - $3,999,999
$2,750,000 - $2,999,999
6
1
Total Sales Ratio2: 40%
7
1
11
0
7
0
11
3
$2,000,000 - $2,249,999
9
5
$1,750,000 - $1,999,999
18
11
$1,500,000 - $1,749,999
24
10
$1,400,000 - $1,499,999
13
5
$1,300,000 - $1,399,999
20
15
$1,200,000 - $1,299,999
20
9
$1,100,000 - $1,199,999
27
13
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
NA
NA
NA
0
9
0%
1,000 - 1,499
$1,349,500
2
3
6
33
18%
1,500 - 1,999
$1,337,500
3
3
22
55
40%
2,000 - 2,499
$1,425,000
3
3
27
52
52%
2,500 - 2,999
$1,430,000
4
4
15
19
79%
3,000+
$1,725,000
4
5
4
14
29%
The luxury threshold price is set by The Institute for Luxury Home Marketing based on reported data. 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
LA - BEACH CITIES
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$1,362,000
$1,430,000
$1,403,500
210
199 76
Apr-18
185
May-18
Jun-18
$1,400,000
85
Jul-18
$1,400,000
$1,299,000
234
204
183
177 85
78
$1,425,000
Inventory
$1,400,000
Solds
$1,408,000
221
61
Aug-18
Sep-18
47
Oct-18
183
167
154 69
$1,575,000
$1,377,500
45
45
Nov-18
Dec-18
$1,435,000
Jan-19
188
173 59
75
Mar-19
Apr-19
40
28
Feb-19
$1,420,000
MEDIAN DATA INVENTORY March
April
173
188 VARIANCE: 9 %
SALE PRICE PER SQFT. March
April
739
$
735 VARIANCE: -1 % $
SOLDS March
SALES PRICE April
59
75 VARIANCE: 27 % SALE TO LIST PRICE RATIO March
April
98.71% 99.36% VARIANCE: 1 %
March
1.44m
$
April
1.42m VARIANCE: -1 % $
DAYS ON MARKET March
April
21
23 VARIANCE: 10 %
LA - BEACH CITIES MARKET SUMMARY | APRIL 2019 • The LA - Beach Cities attached luxury market is a Seller's Market with a 40% Sales Ratio. • Homes sold for a median of 99.36% of list price in April 2019. • The most active price band is $1,300,000-$1,399,999, where the sales ratio is 75%. • The median luxury sales price for attached homes has decreased to $1,420,000. • The median days on market for April 2019 was 23 days, up from 21 in March 2019.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
LA - CITY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | APRIL 2019 Inventory
Sales
Luxury Benchmark Price 1: $2,100,000 $20,000,000+
66
2
$14,100,000 - $19,999,999
39
4
$10,100,000 - $14,099,999
3
$8,100,000 - $10,099,999
$7,100,000 - $8,099,999 $6,100,000 - $7,099,999 $5,300,000 - $6,099,999 $4,500,000 - $5,299,999
$3,900,000 - $4,499,999 $3,500,000 - $3,899,999
6
49
Total Sales: 123
49
Buyer's Market Total Sales Ratio2: 13%
46
1 43
5
55
6
54
6
87
7 63
9
$3,100,000 - $3,499,999
82
14
$2,700,000 - $3,099,999
92
19
$2,500,000 - $2,699,999 $2,300,000 - $2,499,999
Total Inventory: 953
70
13
88
11
$2,100,000 - $2,299,999
70
17
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,365,000
3
3
29
200
15%
3,000 - 3,999
$2,887,500
4
4
38
214
18%
4,000 - 4,999
$3,250,000
5
5
21
152
14%
5,000 - 5,999
$4,057,500
5
7
16
101
16%
6,000 - 6,999
$5,800,000
6
6
9
64
14%
7,000+
$15,700,000
6
9
9
146
6%
The luxury threshold price is set by The Institute for Luxury Home Marketing based on reported data. 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
LA - CITY
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$2,800,000
$3,087,500
$2,922,000
787
751
136 Apr-18
828
701
130
124
May-18
$3,088,073
Jun-18
$3,100,000
Jul-18
$3,090,000
929
916
793
145
$3,077,500
Inventory
$3,100,000
Solds
$3,050,000
922
Aug-18
108
Sep-18
125
Oct-18
106 Nov-18
876
790
669 157
$3,115,000
$2,822,500
93 Dec-18
$3,207,500
Jan-19
953
856
Feb-19
123
116
86
64
$3,100,000
Mar-19
Apr-19
MEDIAN DATA INVENTORY March
April
856
953 VARIANCE: 11 %
SALE PRICE PER SQFT. March
April
901
$
913 VARIANCE: 1 % $
SOLDS March
SALES PRICE April
116
123 VARIANCE: 6 %
SALE TO LIST PRICE RATIO March
April
97.53% 96.79% VARIANCE: -1 %
March
3.21m
$
April
3.10m VARIANCE: -3 % $
DAYS ON MARKET March
29
38 VARIANCE: 31 %
LA - CITY MARKET SUMMARY | APRIL 2019 • The LA - City single-family luxury market is a Buyer's Market with a 13% Sales Ratio. • Homes sold for a median of 96.79% of list price in April 2019. • The most active price band is $2,100,000-$2,299,999, where the sales ratio is 24%. • The median luxury sales price for single-family homes has decreased to $3,100,000. • The median days on market for April 2019 was 38 days, up from 29 in March 2019.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
April
LA - CITY
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | APRIL 2019 Inventory
Sales
Luxury Benchmark Price 1: $992,799 $5,000,000+ $4,500,000 - $4,999,999
0
$4,000,000 - $4,499,999 $3,500,000 - $3,999,999
$3,000,000 - $3,499,999 $2,500,000 - $2,999,999
39
1 1
1
Total Inventory: 370 3
$1,500,000 - $1,749,999
Seller's Market
13
0 1
21
1
25
4
36
3
37
3
$1,250,000 - $1,499,999 $1,200,000 - $1,249,999
$1,050,000 - $1,099,999
66
20
9
3
$1,150,000 - $1,199,999
$1,100,000 - $1,149,999
Total Sales Ratio2: 23%
16
$2,000,000 - $2,499,999 $1,750,000 - $1,999,999
Total Sales: 84
31
15 12
6
27
10
$992,799 - $1,049,999
34
16
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
NA
NA
NA
0
3
0%
1,000 - 1,599
$1,102,500
2
2
22
96
23%
1,600 - 2,199
$1,167,500
3
3
42
135
31%
2,200 - 2,799
$1,382,500
3
3
14
71
20%
2,800 - 3,399
$2,100,000
2
3
3
23
13%
3,400+
$7,550,000
2
2
2
37
5%
The luxury threshold price is set by The Institute for Luxury Home Marketing based on reported data. 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
LA - CITY
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$1,294,500
$1,180,000
316
291
261
$1,204,750
82
71
Apr-18
May-18
$1,330,000
92
Jun-18
$1,515,000
85
Jul-18
$1,281,500
$1,227,000
386
366
326
308
Inventory
$1,334,500
Solds
$1,264,500
364
63
Aug-18
Sep-18
78
Oct-18
$1,260,000
66
64
Nov-18
Dec-18
32
$1,257,750
76
84
Mar-19
Apr-19
31
Jan-19
Feb-19
$1,182,500
370
332
327
304
274 84
$1,326,000
MEDIAN DATA INVENTORY March
April
332
370 VARIANCE: 11 %
SALE PRICE PER SQFT. March
April
748
667 VARIANCE: -11 %
$
$
SOLDS March
SALES PRICE April
76
84 VARIANCE: 11 %
SALE TO LIST PRICE RATIO March
April
97.94% 98.63% VARIANCE: 1 %
March
1.26m
$
1.18m VARIANCE: -6 % $
DAYS ON MARKET March
25
April
28 VARIANCE: 12 %
LA - CITY MARKET SUMMARY | APRIL 2019 • The LA - City attached luxury market is a Seller's Market with a 23% Sales Ratio. • Homes sold for a median of 98.63% of list price in April 2019. • The most active price band is $1,100,000-$1,149,999, where the sales ratio is 50%. • The median luxury sales price for attached homes has decreased to $1,182,500. • The median days on market for April 2019 was 28 days, up from 25 in March 2019.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
April
LA - THE VALLEY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | APRIL 2019 Inventory
Sales
Luxury Benchmark Price 1: $1,350,000 $4,800,000+
82
1
$4,300,000 - $4,799,999 $3,900,000 - $4,299,999 $3,500,000 - $3,899,999
2
1
$3,200,000 - $3,499,999 $2,900,000 - $3,199,999
17
3
$2,300,000 - $2,499,999 $2,100,000 - $2,299,999
16
Total Sales: 128
16
Seller's Market
28
2
37
5 35
4
47
4 35
9
$1,900,000 - $2,099,999
47
14
$1,700,000 - $1,899,999
70
21
$1,500,000 - $1,699,999
73
25
$1,400,000 - $1,499,999 $1,350,000 - $1,399,999
Total Sales Ratio2: 21%
24
4
$2,700,000 - $2,899,999 $2,500,000 - $2,699,999
Total Inventory: 623
49
21
47
12
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,510,000
4
3
31
100
31%
3,000 - 3,999
$1,575,000
5
4
39
164
24%
4,000 - 4,999
$1,750,000
5
5
23
119
19%
5,000 - 5,999
$2,262,500
5
6
20
91
22%
6,000 - 6,999
$2,650,000
5
7
7
51
14%
7,000+
$4,000,000
6
7
7
93
8%
The luxury threshold price is set by The Institute for Luxury Home Marketing based on reported data. 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
LA - THE VALLEY
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,916,000 $1,700,000
$1,765,000
$1,755,000
$1,716,250
712
696
681
669
640
554
$1,765,000
Inventory
$1,820,250
676
$1,877,500
Solds
$1,800,000
Apr-18
151
142 May-18
Jun-18
130
Jul-18
177
Aug-18
116 Sep-18
$1,690,000
617
138
Oct-18
107
96 Nov-18
Dec-18
Jan-19
Feb-19
128
117
69
68
$1,721,000
623
538
504
450
423
103
$1,925,000
$1,912,500
Mar-19
Apr-19
MEDIAN DATA INVENTORY March
April
538
623 VARIANCE: 16 %
SALE PRICE PER SQFT. March
April
534
$
496 VARIANCE: -7 % $
SOLDS March
SALES PRICE April
117
128 VARIANCE: 9 %
SALE TO LIST PRICE RATIO March
April
97.77% 97.99% VARIANCE: 0 %
March
1.69m
$
April
1.72m VARIANCE: 2 % $
DAYS ON MARKET March
April
34
28 VARIANCE: -18 %
LA - THE VALLEY MARKET SUMMARY | APRIL 2019 • The LA - The Valley single-family luxury market is a Seller's Market with a 21% Sales Ratio. • Homes sold for a median of 97.99% of list price in April 2019. • The most active price band is $1,400,000-$1,499,999, where the sales ratio is 43%. • The median luxury sales price for single-family homes has increased to $1,721,000. • The median days on market for April 2019 was 28 days, down from 34 in March 2019.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
LA - THE VALLEY
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | APRIL 2019 Inventory
Sales
Luxury Benchmark Price 1: $600,000 $950,000+ $890,000 - $949,999
17
4 8
1
6
$840,000 - $889,999 $810,000 - $839,999
2
$780,000 - $809,999
4
$750,000 - $779,999 $720,000 - $749,999 $700,000 - $719,999
Total Inventory: 130 Total Sales: 66
7
5
Seller's Market
5
Total Sales Ratio2: 51%
4
2
11
1 2
$680,000 - $699,999
7 17
3
$660,000 - $679,999
15
6
$640,000 - $659,999
10
$630,000 - $639,999
10
3 6
$610,000 - $619,999 $600,000 - $609,999
11
3
$620,000 - $629,999
2
11
7
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$648,500
2
3
22
30
73%
1,500 - 1,749
$662,950
3
3
14
38
37%
1,750 - 1,999
$667,500
3
3
12
26
46%
2,000 - 2,249
$690,000
3
3
11
19
58%
2,250 - 2,499
$898,800
3
3
3
9
33%
2,500+
$967,500
3
4
4
8
50%
The luxury threshold price is set by The Institute for Luxury Home Marketing based on reported data. 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
LA - THE VALLEY
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$680,000
$687,500
$681,888
Apr-18
71
70
May-18
140
129 100
70
$659,500
Jun-18
70
Jul-18
76
Aug-18
Solds
$700,000
$699,745 $661,709
141
128
111
Inventory
$662,500
$660,000
130
129
Sep-18
42
Oct-18
$680,000
137
111
92 50
$686,250
40
43
Nov-18
Dec-18
$709,500 $669,000
130
116 59
66
Mar-19
Apr-19
27
26 Jan-19
Feb-19
MEDIAN DATA INVENTORY March
April
116
SOLDS March
SALES PRICE April
130 VARIANCE: 12 %
66 VARIANCE: 12 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
March
April
419
$
418 VARIANCE: 0 % $
59
March
April
99.03% 100.00% VARIANCE: 1 %
March
710k
$
April
669k VARIANCE: -6 % $
DAYS ON MARKET March
April
23
30 VARIANCE: 30 %
LA - THE VALLEY MARKET SUMMARY | APRIL 2019 • The LA - The Valley attached luxury market is a Seller's Market with a 51% Sales Ratio. • Homes sold for a median of 100.00% of list price in April 2019. • The most active price band is $700,000-$719,999, where the sales ratio is 350%. • The median luxury sales price for attached homes has decreased to $669,000. • The median days on market for April 2019 was 30 days, up from 23 in March 2019.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
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 818.849.4029 (CA) or 571.577.8508 (VA).
- Louis Taylor
LOUIS TAYLOR louis.taylor@eXprealty.com | www.clientfirstapproach.com | louistaylor.eXprealty.com