Though luxury sales in Manhattan, as well as inventory, decreased compared to March 2023, both the number of days on market and price per square foot increased year-over-year, according to a Corcoran report for Manhattan $5M+ Luxury Sales for March 2024. The report shows March 2024 had 71 deals above $5 million, which was a 19% year-over-year decrease. The annual decline was driven by a 70% drop in contracts asking between $10M to $20M, as outlined in the report. However, luxury sales increased 8% month-over-month from February 2024 to March 2024. In conjunction with less luxury home sales, av ..read more

Home sales in the luxury real estate market are expected to increase throughout 2024 according to Coldwell Banker Global Luxury’s Trend Report.  Though market conditions continue to stabilize with pent-up demand, a strong sales ratio, and increasing prices, counteracting factors like low inventory, higher interest rates, and higher prices have been balancing the market, and year-over-year home sales began to rise as 2023 concluded according to the report. After a slower start to sales in 2023, the last quarter of the year saw an increase in year-over-year luxury home sales. Compared to Q4 ..read more

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”. Based on several affiliate surveys and interviews conducted by Christie’s International Real Estate, the annual Global Luxury Real Estate Forecast for 2024 outlines a strong demand for luxury real estate with more inventory expected to enter the market throughout the year. While inventory increases will likely help with a lack of supply acros ..read more

Discover the pinnacle of mountain living with this extraordinary mountain contemporary estate, expertly designed by Tahoe’s esteemed builder, John Brink. Nestled at the end of a cul-de-sac, spanning two lots for maximum privacy, this 5-bed, 7.5-bath sanctuary boasts unparalleled opulence and tranquility. Feast your eyes on breathtaking mountain vistas from every angle, while enjoying the exclusivity of a .87-acre parcel. And if space is what you crave, seize the opportunity to expand with an additional .43-acre vacant parcel available for purchase. Indulge in seamless access to the Home Run sk ..read more

Calgary’s real estate market is expected to be busy throughout 2024 as the population continues to grow but inventory levels remain low.  As part of the current fastest-growing province in Canada, housing continues to be in demand throughout Calgary. Fueled partly by interprovincial migration from more expensive provinces like British Columbia and Ontario, Alberta has seen population increases of 10,000 or more for 5 quarters in a row and is expected to continue to increase into the future, according to Statistics Canada data. Another factor feeding the Calgary real estate market is affor ..read more

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.  Compared to January 2023, active listings across the United States increased by 7.9%, and new listings were up by 2.8% year-over-year, with more than half of the 50 largest metropolitan areas noting an annual increase.   Out of those cities analyzed in the report, Denver, Colorado had the highest percent ..read more

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. The sales volume is still lower than in the previous months, but the low number of sales is primarily due to the lack of inventory. There is a lot of activity in the market and a lot of buyers out there. While the median price increased slightly, price per square foot was up 38%. 57% of homes sold at or above asking price and received 99.2% of the list price ..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. The overall sales volume totaled $26.84 billion across 1,560 transactions, all above $10 million, with vacation and second home markets leading the way. 28 key markets experienced a rise in sales volume despite increased lending values and tight inventory. Of these markets, Palm Springs’s ultra-luxury real estate marke ..read more

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. As the first month of 2024 came to an end, Jason Oppenheim announced the sale of their luxurious Coronado listing. Selling for the full 28 million dollar listing price, this estate is the most expensive home to ever sell in Coronado.  The stunning Spanish-style mansion is located just steps from the beach and on one of Coronado’s largest lots. With 5 bedrooms and 9 bathroom ..read more

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. While it initially appears that homes sold more slowly in December, the Cumulative Days on Market is nearly identical. This measure includes previous attempts to sell with either a different agent or sale by owner; both measures are useful. For luxury condos, the median price dropped significantly in December compared to November. However, the luxury condo price in November was unusually high fo ..read more