Thursday, June 15, 2023 / by Andrew Depcrynski
June’s Highlights for Luxury Market Report
· The report is a guide to the luxury real estate market in North American. It provides an overall analysis with trends and highlights comparative data on the top-residential markets throughout Canada and the United States.
· This month’s report displays the market statistics for North America month over month as well as the 13-month trend.
· This month we review the luxury trends to expect this summer, what are the must-have’s and are there any surprises?
· How will the shifts and changes of affluent buyer expectations playout in their choices of properties, locations and their list of requirements and amenities.
· We acknowledge the calm strength of luxury real estate market, which shows a steady growth in sales and continued price stability, despite outside uncertainties.
· Is there a parallel between the steadiness of the market and design trends that are expected to focus on trends with more permanence, rather than quick fads?
· Quality, endurability and sustainability are key components in this post-pandemic frame of mind, as the affluent seek to capture a sense of well-being, by creating more natural and healthy living space.
· We investigate how the cool sleek lines of modern living are being replaced by the need for comfort, textures and color which are not only creating ‘hygge’ like living but a palette to provide individuality, inspiration and unique concepts.
· Sustainable, recycled, and ethical are hot topics in every avenue of life, and 2023 home décor trends are following suit.
· Expect to see natural materials mixed with old and new concepts, and for technology and environmental consciousness to be integrated in all aspects of real estate.
· These may not be new concepts, but the passion for creating a natural and healthy space is certainly a growing trend.
· 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 rhetoric.
· 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.
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 market effectively to achieve your goals.