The Institute’s Luxury Market Report is your guide to an analysis on the trends and comparative data on the top-residential markets throughout Canada and the United States.
September’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend.
This month we review the return of a more normal pace in the luxury real estate market, but explain why it might be too soon to start calling it a buyer’s market.
The markers are there for change, but much will depend on two different criteria: 1.) whether inventory levels rise this fall; 2.) if the properties listed are a match for the types of homes still in high demand with the affluent.
We reveal the various elements currently in play that are making the affluent hesitant to list their homes. As we move into the fall season, we also review some new opportunities and trends that homeowners and investors should consider during their property search.
What is happening that is enticing buyers back to the metropolises?
Emerging neighborhoods see an increase in demand as real estate investors look for new opportunities. Understand why some of the affluent are reprioritizing their housing, location, and fiscal requirements in this post-pandemic era. And how diversification has a role to play in their plans for the short and long-term future.
It is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities of the market, as opposed to just listening to market rhetoric that may or may not be true.
For homeowners looking to sell or buy their luxury home in today’s market, we recommend working with a real estate professional who can provide you with critical knowledge about your local market, maintains a high level of security and safety during the process, and who knows how to leverage technology and strategies to provide maximum exposure and assistance.
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