In the realm of real estate, March unveiled a narrative of unwavering resilience. After six months of steady ascent in inventory and sales levels, March’s statistics painted a picture of sustained robustness. The influx of new properties into the market fueled buyer aspirations, driving forward the momentum of the spring season. Luxury single-family properties saw inventory levels soar by 24.1% compared to March 2023, with an additional 5.8% uptick from February 2024. Similarly, the luxury attached property market witnessed a 37.7% surge in inventory year-over-year, although experiencing a ma ..read more

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. April’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend. Navigating the Stronger but Variable Spring Market March, often heralded as the commencement of the spring market, not only marks the awakening of nature but also provides insights into the trajectory of the real estate landscape for the ensuing months. This month we delve into the ..read more

In the realm of luxury real estate, perception is everything. As affluent buyers search for the perfect property, their journey often begins with a visual exploration of potential homes on the internet. In this digital age, imagery plays a pivotal role in shaping the narrative of luxury properties, through captivating audiences and conveying the essence of its true worth.   Leveraging the right imagery is essential for a luxury real estate professional when selling a  property in the luxury real estate market. Let’s explore the importance of imagery and how it can inf ..read more

Inventory levels are climbing in most luxury markets as we move firmly into the spring season. Statistically, this has resulted in a shift towards a balanced market.   Traditionally, spring has typically been associated with a surge in real estate activity and inventory tends to increase for several reasons. Warmer weather and longer daylight hours facilitate the opportunity for buyers to visit potential properties. Psychologically, people are more optimistic and motivated in the spring, and families with children prefer to move during the summer months, so they list their propertie ..read more

As a realtor, it is important to understand both current design trends and client expectations. Important design trends typically evolve over time and reflect changes in cultural and societal preferences, as well as technological influences.   While designers are constantly looking to differentiate themselves and provide innovative ideas, they also need to ensure that their work remains relevant and resonates with their target audience. This highlights the careful balance between being creative and following new trends when deciding what’s fashionable versus personal preference. For ..read more

Whether your local market is truly a seller’s market, or you are working with buyers looking in a specific neighborhood or for a certain property type, the challenges are similar. As a professional who is advising buyers, your primary goal is to help them navigate these challenges and help them find and secure a home in a competitive environment.   Here are some recommendations for working with buyers in a high demand market:  Set Realistic Expectations  It’s critical to establish with your buyers the current market conditions as it pertains to them. Help them to set ..read more

Even in a seller’s market there are always “hard-to-sell” properties. At the height of the frenzied market during the pandemic years there were still properties that remained unsellable.  There will always be properties that simply do not meet affluent buyer expectations, whether it’s due to location, price, size, or the state of repair. Ultimately, and especially in the luxury market where many homes are unique, the salability of a property, no matter if it’s a buyers’ or a sellers’ market, will lie firmly in it matching current buyer trends.  Meeting the Demands of Today’s Affluen ..read more

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. March’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend. This month, we delve into the underlying factors propelling demand and shaping the trajectory of the luxury real estate market over the past four months, as well as their enduring effects. We scrutinize the surge in sales and the correlation between heightened inventory levels and ..read more

There are two key elements that play a crucial role in predicting trends in real estate: data analytics and on-the-ground knowledge.  Both provide valuable insights into:   Market dynamics by providing clarity on property types and price points in the greatest demand.  Consumer behavior by determining the motivations of buyers and sellers in the current market.  Economic indicators that are having impacts on your local market, as these can have more or less influence than those at the national level.  Demographic trends of potential buyers and sellers, so you ca ..read more

Every real estate professional has had at least one of those hard-to-sell properties, whether it’s due to the price, location, condition, or even its size. The reality is that there will always be luxury homes that are not currently in favor with affluent buyers.  So, are there any advantages to keeping or taking a hard-to-sell property? Certainly, there are opportunities that can be leveraged by taking the listing. You just need to remember that “he who dares wins” and “there is a buyer for every home,” while approaching the task with a different mindset.  Leveraging a hard-to ..read more