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. 
  • October saw a market of rising inventory, increased sales, and more buyer opportunities due to interest rate cuts and heightened buyer activity. 
  • Luxury single-family homes reported inventory up 19.7% and sales up 21% year-over-year (YoY) and month-over-month (MoM) inventory dipped 3.5%, new listings fell 10.6%, while sales rose 10.4%. 
  • Luxury attached homes reported inventory growth of 27.7% and sales increased 12.2% YoY, whereas MoM there was a slight decline in listings, but a continued robust demand. 
  • Median sale prices remained stable, indicating balance, although growing inventory and sales favor buyers in luxury segments. 
  • Some buyers await further rate reductions, while high prices temper demand, especially among aspirational buyers. Regional variations like job growth and demand offer resilience. 
  • High-end buyers are re-entering the market, taking advantage of more inventory and better rates, with potential sales growth if further rate cuts occur. 
  • Future Opportunities: 
  1. Rate cuts and lower construction costs anticipated to boost transactions. 
  2. Higher demand for these property types: historic and unique homes, furnished units, eco-friendly homes, and those with accessory dwelling units eg. Additional spaces for offices, family and leisure. 

 

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.

 

 

YOU MIGHT BE INTERESTED IN...