The August Luxury Market Report

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. August’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend. As we head into the peak of summer, we review “The Changing Trends of Second Home Markets” by taking a look at some significant shifts that have been affecting these markets, often considered to be second home or vacation communities. Moving from east to west, we review 5 markets that showcase the effect of the COVID-19 pandemic and the high net worth’s purchasing impact on these communities.

• The Hamptons, New York
• The Palm Beaches, Florida
• Coeur d’Alene, Idaho
• Lake Tahoe, California
• The Hawaii Islands, Hawaii

And are joined by:

• Michael Daly of Douglas Elliman Real Estate (Hamptons)
• Liz Armstrong, Director of Luxury Sales for The Keyes Family of Companies (The Palm Beaches)
• Mark Montgomery of John L Scott Real Estate (Coeur d’Alene)
• Trinkie Watson of Chase International (Lake Tahoe)
• Anton Steenman, President & CEO of Elite Pacific Properties (Hawaii)

Understand how each of these markets have been affected, how luxury real estate experts have and are currently managing individual demands from their affluent clientele, what their predictions are for the long term, and which property types have proved to be in high demand. Discover how technology and its advances have facilitated a fairly swift market recovery and how some of these new processes and procedures are actually benefiting all parties involved. 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. Get exclusive insights into the upper-tier real estate market at one of The Institute for Luxury Home Marketing’s live or online training sessions. Enroll today!