The report is a guide to the luxury real estate market in North America and Flagstaff.  It provides an overall analysis with trends and highlights comparative data on the top-residential markets throughout Canada and the United States. 

DOWNLOAD THE LUXURY REPORT

  • This month’s report displays the market statistics for North America month over month as well as the 13-month trend.
  • The North American luxury real estate market is evolving, with both challenges and opportunities for real estate professionals and affluent buyers.
  • The luxury market in 2024 has shown resilience, with strong demand for prime locations, unique features, and high-end amenities driving buyer decisions.
  • Market Analytics: Sales dipped in June but rebounded in July with significant gains – especially when compared to previous years.
  • Comparing January to July in 2023 against the same seven months in 2024 we see that single-family homes sales increased by 14.82% and attached homes by 11.35%.
  • New inventory plays a pivotal role in maintaining sales levels, even in typically slow periods.
  • The type of inventory also matters—affluent buyers are increasingly discerning, seeking homes that offer not just luxury but also exclusivity, sustainability, and innovative amenities.
  • Despite inventory fluctuations, luxury home prices have remained stable. Top 10% of the market saw a nearly 2% increase in median sold prices since January 2024.
  • The unexpected rise in inventory and sales in July signals strong confidence in the luxury market, however, if there are significant changes in either new inventory, prices or interest rates these could quickly shift the market.

 

Take a look at our latest local City Report:

 

NORTHERN AZ LUXURY HOMEOWNER ADVICE

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 during the transaction and knows how to leverage technology to provide maximum exposure and assistance.

What is the value of your Flagstaff Home?

 

GET IN TOUCH

It is my responsibility as your REALTOR to ensure that when others around you are lowering their expectations, that this becomes the time for us to switch gears and discover how to leverage the Flagstaff luxury market effectively to achieve your goals. Contact us at kelly.broaddus@exprealty.com or call 888.446.5602.

 

 

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