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.
- The best way to sum up the luxury real estate market during 2023 might be that it remained “unapologetically resilient”, despite a slower year in the overall sales volume compared to 2022.
- Our review analyses predictions against reality, statistical data as well as buyer preferences and demand changes.
- We investigate why buying luxury homes retained its appeal despite the complexities that affected both buyers and sellers during 2023, and why this was an important factor in the market shift during the last quarter of the year.
- Discover which predictions proved accurate, were affected by unexpected influences and what new realities emerged.
- Understand why inventory still played such a key role in the luxury real estate market, and the dichotomy caused between growing inventory and declining new listing levels during 2023.
- Appreciate the resilience of the luxury real estate market as we review why prices have remained stable, with an overall growth of 3% during 2023.
- We uncover the biggest changes in consumer demand, and why buyers although frustrated by the lack of inventory are not willing to compromise on their next luxury home purchase.
- What architectural and interior design trends became prominent during 2023 and why should sellers, looking to put their homes on the market in 2024, take note?
- We review why cash, move-in-ready, experience-based properties and correctly priced homes were the winners in 2023.
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 firstname.lastname@example.org or call 888.446.5602.
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