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.
This month’s report reviews the current statistics for the luxury market. It shows a market that has remained consistent during 2019, with increasing inventory in the last few months being fairly typical and expected at this time of year.
In reviewing the major trends of 2019 the broad trend reveals that there is a significant move towards finding a more holistic approach to living. Savvy homeowners, luxury real estate professionals, developers, architects, and designers, are all reporting a significant importance on being placed on the infusion of a healthier cadence into our every day working and living environments.
Luxury is now about creating experiences that afford the feeling of luxurious well-being and the report includes four major trends that have influenced the current real estate market
- Migration to New Markets
- New Groups of Influence
- Health & Wellness
- The Natural Way – Design Impacts
In conclusion, The Institute’s analysis of these market trends and shifting buying interests shows that are lucrative real estate niches, but also still recognizes that there will always be long-term 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 lifestyle-specific niche your property offers, in line with trends, it can be marketed effectively to connect with the right potential buyers.
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As the year draws to a close, November’s statistics reveal that the luxury market remains solid, prices stable, and the median length of time, as well as the selling price to list price ratios, remain consistent. Inventory is increasing but this is reflective of both the time of year and ultra-high-priced luxury properties selling at a slower rate than in previous years.
The luxury segment of real estate is often described as being a minor part of the whole industry, but is readily recognized as being a major influencer in creating trends and providing a barometer to changes for the industry. This month we are taking the opportunity to report on some of the key trends in 2019 that are responsible for creating and maintaining today’s affluent influence.
While each market certainly has its own nuances, an overall trend has become very apparent in the luxury market – it’s all about finding a more ‘holistic approach to living.’ Savvy homeowners, luxury real estate professionals, developers, architects, and designers, are all reporting a significant importance to be placed on the infusion of a healthier cadence into our everyday working and living environments.
Luxury is now about creating a comfortable experience that affords the feeling of luxurious well-being. These trends have certainly impacted real estate across North America, and it is anticipated that their influence will be far-reaching into 2020s and beyond.
Original Article: http://blog.luxuryhomemarketing.com/december-luxury-market-report/?utm_campaign=Member%20Benefits&utm_source=hs_email&utm_medium=email&utm_content=80896622&_hsenc=p2ANqtz-9lhQQc0_q6OAH3HBfjkQKm81ovNeffcWDlxciN_WlnlI8J_zndDgt5YRGscRayZZ_2Lvely-jFvn84JyLE2eCKrDG8hQ&_hsmi=80896622