North America Luxury Market Digital Report for July 2024

Presented by Mountain Rose Realty and Anne-Britt Ostlund

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Welcome to the North America Luxury Real Estate Market Report for July 2024. This report provides an in-depth look at the market trends, statistics, and insights across North America, helping you make informed decisions whether you're buying or selling.

Single-Family Homes Market Summary | June 2024

1. Market Type: Seller's Market with a 28.46% Sales Ratio.
2. Sale Price vs. List Price: Homes are selling for an average of 99.09% of list price.
3. Median Luxury Threshold Price: $912,500.
4. Median Luxury Home Sales Price: $1,283,003.
5. Top Markets by Median Sales Price: Telluride ($6,588,660), Whistler ($6,512,500), Paradise Valley ($4,100,000), Los Angeles Beach Cities ($4,095,000).
6. Top Markets by Sales Ratio: Howard County, MD (108.4%), St. Louis (102.6%), East Bay (93.7%), Baltimore City (84.2%).

Attached Homes Market Summary | June 2024

1. Market Type: Balanced Market with a 20.06% Sales Ratio.
2. Sale Price vs. List Price: Attached homes are selling for an average of 99.05% of list price.
3. Median Luxury Threshold Price: $700,000.
4. Median Attached Luxury Sale Price: $879,900.
5. Top Markets by Median Sales Price: Manhattan ($3,575,000), Whistler ($3,337,500), Vail ($3,095,000), Island of Hawaii ($2,500,000).
6. Top Markets by Sales Ratio: Howard County, MD (131.7%), Fairfax County, VA (129.5%), Arlington & Alexandria, VA (101.2%), Anne Arundel County (91.3%).

June’s Highlights for the Luxury Market Report

This month’s report delves into the luxury real estate market trends across North America, highlighting the following key points:

1. Comprehensive Guide: An overview of the luxury real estate market trends in North America.
2. Monthly Statistics: A detailed month-over-month analysis and 13-month trend review.
3. Mid-Year Analysis: Insights into the first half of 2024, revealing a significant shift back to a seller's market.
4. Key Data Points: June’s statistics show 95 out of 150 single-family home markets favoring sellers, with similar trends in attached properties.
5. Rising Sales: Despite slight year-over-year decreases, sales have surged significantly since January.
6. Inventory Trends: Increasing inventory levels are creating more opportunities for buyers, though still below traditional norms.
7. Market Drivers: Key trends include wealth accumulation, increased inventory, sustained demand, lifestyle changes, and a growing preference for customization and sustainability.
8. Future Outlook: The luxury market is expected to evolve with changing consumer demands and technological advancements.

For those navigating the luxury real estate market, it’s crucial to partner with a knowledgeable realtor. Anne-Britt Ostlund and Mountain Rose Realty offer the expertise and insights necessary to succeed in today’s market.

Stay informed with our regular market updates to make the best real estate decisions. Whether you’re buying or selling, Mountain Rose Realty and Anne-Britt Ostlund are here to assist you. Contact us today for a personalized consultation.