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.
  • September saw a market of mixed expectations as interest rates were cut and mortgage rates fell to some of their lowest levels in over a year.
  • However, buyers were still cautious due to elevated home prices and expectations of further rate drops.
  • That being said, demand shows signs of increased early-stage activity, including website visits, viewings, and pending offers.
  • Single-family home sales rose by 5.11%, while condominium and townhome sales fell by 4.22%.
  • The median sold price for single-family homes dipped by just 0.56%, and attached properties saw a 0.26% decrease.
  • While Affluent buyers rely less on borrowing, they may benefit from lower rates and alternative loan options which will translate into higher demand for luxury properties.
  • A WSJ Intelligence poll shows growing confidence among wealthy buyers, suggesting a turning point in the luxury market.
  • Expect calmer market conditions even if mortgage rates continue to fall - the pandemic- era frenzy is unlikely to be repeated due to high prices, elevated interest rates, and reduced speculative demand.

 

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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