Demand holds strong for Luxury Homes in Q3 as affluent buyers are choosing to make their purchases with all cash offers as a way to avoid higher interest rates being offered in the current market, reports Redfin.
Across the 46 Prime Global Cities studied by Knight Frank in their Prime Global Cities Index 2023 Q3 report, the average annual prices recorded had a growth rate of 2.1% over the last year, from September 2022 until September 2023.
Luxury real estate markets across North America stand strong as global wealth sees a substantial increase in 2021, according to Coldwell Banker Global Luxury’s release of The Report: 2022 Global Luxury Market Insights.
Though the Vancouver housing market may have seen its peak earlier this spring with March 2021 recording a total of 8,888 sales, a new record for the entirety of the Vancouver region history, demand continues despite a slow decline according to the latest market report by Rennie & Associates Realty Ltd.
Demand for luxury homes in Paradise Valley continues to gain momentum in its first quarter with a 200% increase in sales compared to this time last year, according to the Paradise Valley Luxury Market Update for May 2021 from Russ Lyon Sotheby’s International Realty.