National Luxury Market Report

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How’s the National Luxury Market?

That’s the question this report answers for the luxury market nationwide, and for the luxury markets in more than 30 major metro areas. The ILHM Luxury Market Report is a snapshot of the national luxury market.  Like the Case-Shiller Composite Index and other national indices, it is a bundle of data from markets around the country that give a simplified view and try to get at the question of what’s happening in the marketplace.

Unlike virtually all of the other reports and indices out there the ILHM Luxury Market Report is focused exclusively on the top of the market.  We know that markets are local.  We also know that in a given place, at a given time, different price segments perform differently.  Trophy homes at the top of the market might be in high demand and setting new price records, while in the same city starter homes might be stagnant and seeing major downward price pressures (or vice versa).  Most major indices ignore this fact and lump all market segments together to get at some sense of overall market trends.  We don’t.

In fact, we look at just the top of the market, so that you can see more clearly what is really happening in luxury markets around the country and the overall luxury trend at the national level. The ILHM Luxury Market Report is the only real-time national index and report covering the luxury market.

View Current National Luxury Market Report  |  Download PDF

View Archived Reports

February 9, 2015  |  January 26, 2015  |  January 19, 2015  |  January 12, 2015  |  January 5, 2015  |  December 29, 2014  |  December 22, 2014

 

National Luxury Market Report – February 23, 2015

The ILHM National Report this week looked at 19,064 luxury homes on the market. The ILHM Luxury Composite Price this week is $1,294,196. These homes have been on the market for
an average of 173 days.

The Market Action Index measures available supply relative to the current level of demand. Index value above 30 indicates conditions favor the seller. See the section below for full details.

Feb-23-1

 

Price

Luxury home prices across the ILHM National sample have stayed relatively stable in recent weeks. This week median price is $1,294,196.

Feb-23-2

Price Per Square Foot

Price per square foot gives us a view to changes in how luxury homes are valued as well as how they’re being constructed. Currently median price per square foot in the luxury homes is $352.

Feb-23-3

Supply and Demand

Feb-23-4

Residential prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained trends and an early view on coming price changes.

The ILHM National market is currently in the Buyer’s Market zone (below 30), though not strongly so. The Market Action Index stands this week at 29 so luxury buyers should expect to find reasonable levels of selection.

 

Inventory

This chart illustrates the total number of homes in the ILHM sample each week. These are homes on the market for at least $500,000 in the top 10 zip codes for 31 major metro markets around the county.

Feb-23-5

Days on Market

The properties have been on the market for an average of 175 days.

Feb-23-6

Luxury by Region

A look at the local luxury markets around the country.

Feb-23-7