The October 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. October’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend. Now that the luxury real estate industry fully recognizes the significance of the changes in demand by the affluent — not just in terms of the properties they are looking to buy, but their location too — we review the impacts and reasons why. These changes in demand are not only reflected in the Institute’s on-going analysis of the luxury real estate market, but also corroborated by “on the ground” intel from our members in communities throughout North America. We reveal the substantial increases in third quarter results compared to the same period in 2019, and recognize new locations (both in the United States and Canada) that have witnessed increasing popularity. We investigate the reasons why the luxury real estate market has not only bounced back but continued its momentum of growth during the last six months. Four key reasons are examined to understand their impacts:

• Remote Working
• Mortgage Rates
• The Stock Market
• Inventory Levels

We also recommend that it is important for buyers and sellers in the luxury real estate market to recognize which of these many shifts will have lasting impacts, and which shifts will fade away once the pandemic is under control. 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 luxury real estate professional 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!