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.
- This month’s report displays the market statistics for North America AND Flagstaff month over month as well as the 13-month trend.
- As we move firmly into the last month of 2023, it seems the glimmer of change first seen in October’s data grew a little brighter during November.
- We review various key data parameters such as the sold property numbers, new inventory entering the market, sold prices and the sold-price-to-list-price ratios to understand their significance.
- And we investigate why new inventory is playing such an important role in today’s market.
- While sales have not increase month-over-month, and nor would we expect them to at this time of year, we appreciate why it is the comparison of data in the same months of 2022 that shows the optimistic change of the current market.
- Understand what economists predict with respect to mortgage rates during 2024 and how they could help the market rebound or cause problems if they drop too fast!
- We investigate why consumer sentiment is equally important and how it too could affect how the market performs in the new year.
- The big question of whether it is a good time to buy now, or wait until more inventory becomes available, is also explored.
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.
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.
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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