Luxury Market Report
The charts below show the 7-day and 90-day rolling averages for median list price, days on market, and inventory for the national composite--a snapshot of how, together, the luxury markets around the country are performing. The ILHM National Report this week looked at 20,895 luxury homes on the market. The ILHM Luxury Composite Price this week is $1,484,970. These homes have been on the market for an average of 177 days.
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PRICE:
Luxury home prices across the ILHM National sample are slightly increasing in recent months. This week's median price is $1,484,970.
INVENTORY:
This chart illustrates the total number of homes in the ILHM sample each week. These are homes on the market for at least $500,000 in the top 10 zip codes for 31 major metro markets around the county.
DAYS ON MARKET:
These properties have been on the market for an average of 177 days.
Price Reductions:
The 90-day % of price reductions are at a steady decrease through this fall and winter, but looking at the 7-day period, the price reductions are beginning to increase.
How is the Luxury Real Estate Market?
That's the question this report answers for the "luxury market" nationwide, and for the luxury markets in more than 30 major metro areas.
The ILHM Luxury Market Report is a snapshot of the national luxury market. Like the Case-Shiller Composite Index and other national indices, it is a bundle of data from markets around the country that give a simplified view and try to get at the question of what's happening in the marketplace.
Unlike virtually all of the other reports and indices out there the ILHM Luxury Market Report is focused exclusively on THE TOP OF THE MARKET. We know that markets are local. We also know that in a given place, at a given time, different price segments perform differently. Trophy homes at the top of the market might be in high demand and setting new price records, while in the same city starter homes might be stagnant and seeing major downward price pressures (or vice versa). Most major indices ignore this fact and lump all market segments together to get at some sense of overall market trends. We don't.
In fact, we look at just the top of the market, so that you can see more clearly what is really happening in luxury markets around the country and the overall luxury trend at the national level.
The ILHM Luxury Market Report is the only real-time national index and report covering the luxury market.
The report is updated WEEKLY.
For a Complimentary Local Report customized for your home, contact us at [email protected].
