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. 

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  • This month’s report displays the market statistics for North America AND Flagstaff month over month, as well as the 13-month trend.
  • This month we look at the drivers of demand, reviewing the luxury market’s shift in the last four months and its impacts.
  • We understand why there has been an uptick in sales and how it corresponds to the rise of new inventory entering the market.
  • The article investigates the factors that are helping to drive this increased demand: ranging from more competitive mortgage rates to a new demographic called the “HENRYs” (High Earners, Not Yet Rich).
  • Discover, although there is little expectation for location not to stay a primary decision parameter, why it is anticipated that we will see a greater diversity of locations being chosen by the affluent.
  • We address why demand for very specific property types is also expected to dominate the decision process during 2024, with more focus on amenity- and experience-driven properties.
  • We also address why the biggest demands in the luxury real estate market are often characterized by lifestyle, exclusivity, and investment potential. It is also essential to note that demands are highly influenced by regional preferences and market dynamics.

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.

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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February 2024 Flagstaff Luxury Real Estate Market Report