The Institute for Luxury Home Marketing’s latest Luxury Market Report is a guide to an analysis on the trends and comparative data on the top-residential markets throughout Canada and the United States.
July’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend.
The luxury real estate market continues to remain strong, due to lower inventory levels, stable pricing, and pent-up demand. In some communities and within certain property types, there are even multiple offers occurring indicating a surge in demand.
This month, the report reviews “How luxury properties are being sold during the COVID-19 pandemic,” joined by:
– Keith Robinson, NextHome Chief Strategy Officer
– J. Lennox Scott, Chairman & CEO of John L. Scott Real Estate
– Jim Walberg, The Bay Area Team for Compass, San Francisco
– Patrick Ryan, Owner of Genuine Real Estate Corp, Chicago
– Debbie De Grote, Forward Coaching and Consulting
The report reviews the reason why brokerages and their agents have had to change their strategies as consumer demand has driven a need to find methods that continue to allow the sale and purchase of luxury properties.
In addition, the reports discovers how technology and its advances have facilitated a fairly swift market recovery, and how some of these new processes and procedures are benefitting all parties involved.
The report underlines some of the new procedures that REALTORS® are implementing, while appreciating the importance of working with a professional who knows the local regulations, as every state, county and board have different rules.
Click here to see the Institute’s full report.
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