THE APRIL 2023 LUXURY MARKET REPORT

The Institute’s Luxury Market Report is your guide to analysis on the trends and comparative data on the top-residential markets throughout Canada and the United States.

The report for April reviews the current statistics for the luxury market in North America month-over-month, as well as the 13-month trend. 

This month, we aim to discover whether the demand for luxury real estate is back and whether it will continue as we head into the spring market.

We review March’s statistics and compare them to the previous months of January and February to ascertain whether there is a growing confidence from buyers and sellers of luxury properties. 

We also recognize that not all markets are equal, but more importantly, that not all price brackets are seeing similar demand within the same market.

So, how are buyers and sellers meant to understand whether it’s a good time to buy or sell?

We review some of the key parameters that are important to understand in this current market and why it’s important to look beyond the initial data to discover the true opportunity.

This month’s report also investigates whether another shift is coming in a market that, over the last six months, has seen a focus on purchasing luxury homes in lower-priced markets as well as property types.

We look at four markets in the U.S. and Canada, each of which has seen a substantial increase in their recent sales volumes, to see what is driving that demand.

And the results show that it’s not all about price!

It is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities, rather than just listening to the market rhetoric.

CLICK HERE TO SEE THE INSTITUTE’S FULL REPORT.

For homeowners looking to sell or buy their luxury home in today’s market, we recommend working with a realtor who can provide you with critical knowledge about your local market, maintain 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.