The real estate market is moving very quickly and comparing a month’s numbers to that of the same month in the previous year is no longer relevant and doesn’t give a clear picture of what is going on.
Statistics show Vancouver’s home market is making a rebound as prices increase across all home types month-over-month.
A strong seller’s market persists across Seattle’s luxury real estate market according to statistics from Realogics Sotheby’s International Realty.
The Luxury Division at Compass Real Estate just released its Ultra-Luxury Report, an analysis of over 50 real estate markets and their sales of $10 million and above since 2019.
“Luxury homes continued to sell quickly and saw a significant increase in price per square foot in November.” Says Oahu Luxury Real Estate Agent Caron B Davis.
“There has been a slowdown in luxury home sales but it’s not all doom and gloom.” Says Oahu Luxury Real Estate Agent and LuxuryHomes.com Affiliate, Caron B Davis.
The luxury real estate market in Austin may be one to watch despite recent price declines, as buyers looking for greater market value from out of state look towards Texas.
Trends of increasing home prices are predicted to slow as economic changes begin to affect buyer demand, and the market adjusts from a strong seller’s market to a more balanced market, however, demand for luxury homes may be less affected as affluent buyer demand continues according to recent reports.
Home sales throughout Toronto and the Greater Toronto Area have slowed but demand for housing continues, according to the September 2022 Stats from the Toronto Regional Real Estate Board.
Despite recent unfavorable economic factors such as high inflation, rising interest rates, and stock indexes, experts predict demand for luxury real estate will continue for the remainder of 2022 and into 2023 according to the new 2022 Mid-Year Luxury Trends Report recently released by Christie’s International Real Estate.