The October 2023 Luxury Market Report

The Institute’s Luxury Market Report is your guide to analyzing the
trends and comparative data for the top residential markets throughout the
United States and Canada. 

October’s report reviews the current statistics for the luxury market in
North America month over month, as well as the 13-month trend. We review
the status of September’s market, as this month is usually a good indicator of
the direction the market is headed for the next few months. 

Initial review shows a slower market. The key indicators, such as fewer
sales, would suggest we are moving towards a buyer’s market, but the sales data
still holds that we are in a seller’s market. 

So why does the current market not feel favorable to either buyers or sellers?

We explore the reasons behind this market’s deviation from conventional norms and the factors that impact it, both internally and externally. We uncover the trends behind the increasing inventory levels that persist, in order to grasp the importance of market demand. We highlight some key factors that are causing buyer hesitancy and discuss why their priorities may continue to shift. Lastly, we review which types of properties are most in-demand by the affluent and which could offer better returns on investment. 

Despite the mixed messages, the luxury market continues to see a strength in
prices and a demand for the right properties. The Institute maintains that
luxury real estate remains one of the most consistent investment
returns. However, it is important to understand that the art of
selling and buying should always include an analytical approach to truly
appreciate the realities, rather than just listening to the market


For homeowners looking to sell or buy in today’s market, we recommend
working with a Member of The Institute for Luxury Home Marketing. Members of
The Institute are real estate professionals who can provide you with critical
knowledge about your local market, maintain a high level of security and safety
during the process, and they know how to leverage technology and strategies to
provide maximum exposure and assistance. 

For agents interested in improving their business and learning new skills,
we invite you to join The Institute. Gain exclusive insights into the
upper-tier real estate market at one of our live or online training
sessions. Enroll today! 


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