The February 2024 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 the United States and Canada. 

February’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 step into 2024, the luxury real estate market now stands at another fascinating juncture. Known for its resilience and capacity to set trends, will the luxury market once more take the lead and steer us towards a stronger year for sales? 

After a period of stagnation, the luxury market saw a shift in the last quarter of 2023 that, together with more positive economic indicators, translated into a show of confidence with both inventory and sales increasing. 

We review whether these parameters are still holding true during the first month of 2024 and, if there are any contradictions, what they mean for the upcoming spring market. 

Our review analyzes the catalysts of change that are currently in play to understand why the luxury market may continue to see activity increase. 

We investigate positive influences as well as potential disruptors while assessing the expectations and considerations needed by buyers and sellers for the upcoming year. 

How will the roles of technology and sustainability interconnect and impact choices in 2024? Will global economic influences continue to influence the decisions of the affluent? And how are local market variations likely to change behavior patterns and the strategies of the affluent? 

Discover why 2024 will be a year of opportunity but also one that must be tempered by strategic decisions and careful navigation. 

As always it is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities within your local market, as they may differ from the viewpoint at the national level. 

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. Members of The Institute have access to monthly reporting on more than 150 of the most active luxury markets across the United States and Canada. Enroll today!





Source link

About The Author

Scroll to Top