While challenges of higher interest rates and lower listing inventory continue to affect luxury real estate markets across the globe, the majority of Christie’s International Real Estate affiliates look at the 2024 market with “opportunity and optimism”.
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Calgary’s real estate market is expected to be busy throughout 2024 as the population continues to grow but inventory levels remain low.
Home buyers will have more options as more inventory becomes available for home buyers across the United States compared to last year with Denver, Colorado experiencing the highest year-over-year jump in new listings for January 2024, according to the recent Realtor.com report.
The number of luxury single-family homes sold in January remained the same as in December 2023. This is the first time since we’ve been keeping data that January has not had a decrease in sales compared to December, as shown in the chart. Read More »
Wealthy buyers showed continued interest in ultra-luxury real estate in America throughout 2023 as annual sales volumes increased in several markets year-over-year with the highest annual increase in Palm Springs, according to the 2023 Ultra-Luxury Report from Compass.
Luxury Los Angeles Broker, and President and Founder of The Oppenheim Group, Jason Oppenheim announced the sale of their $28M Coronado listing, marking a new record for the most expensive home to ever sell in Coronado.
The number of luxury single-family homes and condos decreased compared to November and the past several months. Median price and price per square foot were down 5% and 7% respectively for luxury homes.
Zillow released their list of “Hottest Housing Markets of 2024”, based on predicted home value growth, number of homeowner households, amount of home construction, and labor market changes.
Home sales have slowed in one of Canada’s largest cities, however, demand for homes is predicted to grow in 2024, according to Rennie & Associates Realty Ltd.
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Remax agents expect a more active real estate season for 2024 with more transactions and a slight increase in average home prices varying across Canada.
The number of luxury single-family homes remained the same as October and September at 29. Median price increased 4.5%; the list price to sales price ratio increased, as did the percentage of homes sold above asking price. Luxury homes sold much more quickly than last month, after an average of 50 days on market.
In Redfin’s Housing Market Predictions for 2024, buyers can look forward to declining mortgage rates, more inventory, and softening housing prices across America.
Home prices are predicted to increase in Q4 of 2023 across Greater Montreal, as the market stabilizes, according to recent reports from Royal LePage Canada.
Demand holds strong for Luxury Homes in Q3 as affluent buyers are choosing to make their purchases with all cash offers as a way to avoid higher interest rates being offered in the current market, reports Redfin.
The number of luxury single-family homes remained the same as last month at 29. Median price decreased compared to last month.
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