February 2022 Luxury Market Report
February 2022 Luxury Market Report
February 2022 Luxury Market Report
Welcome to the Luxury Market Report
The Luxury Market Report provides an in-depth analysis of the luxury real estate market data and trends for North America, showcasing established luxury benchmark prices, survey of active and sold properties, and national market standards. The report categorizes markets into Buyer's Market, Seller's Market, and Balanced Market based on supply and demand dynamics. Key metrics such as sales prices, days on market, and price-per-square-foot are analyzed to offer a comprehensive overview.
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Report Glossary and Market Analysis
The report includes a glossary defining terms like remaining inventory, days on market, luxury benchmark price, new listings, price per square foot, sales ratio, and SP/LP ratio. It predicts a likely price plateau for the luxury market in the first quarter of 2022, with consistent median prices for single-family and attached properties. Despite a 20-year low in inventory levels, strong demand from affluent buyers is expected to continue, driven by changing buyer priorities and a desire for diverse location choices and property types.
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North American Luxury Review
The luxury real estate market in North America is expected to see a shift in trends in 2022, with a focus on fulfilling client's evolving needs and priorities. Affluent buyers are likely to make more considered decisions, leading to a slower market pace. The report highlights a greater diversity in location choices, ownership levels, and amenities preferred by affluent homeowners. The year 2022 is anticipated to witness a rise in the sales of luxury properties driven by factors such as asset portfolio diversification, the entrance of millennial buyers, and a shift towards owning multiple homes for various lifestyle and financial reasons.
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