January 16, 2019

LUXURY MARKET REPORT TAKES A HARD, REFLECTIVE LOOK AT 2018 – THE CHANGES IN DEMOGRAPHIC WEALTH AND ITS INFLUENCE ON CURRENT AND FUTURE TRENDS

The final Luxury Market Report of 2018 takes a reflective look at the year’s luxury property market, its demographics and trends, and how these influences are now impacting change in the purchase of real estate by the high net-worth.

December’s luxury property sales for North America (the US and Canada) show a decline in sales compared to November, however, and more importantly, there has been no significant changes with respect to price, sale volumes, inventory and median days a property is listed when compared to December 2018.  

Park City Single Family Luxury Market is now a Buyer's Market with a 5% sales ratio.

Homes Sold for a median of 92.48% of list price in December of 2018.

The most active price band is $1,700,000 to $1,800,000 where the ratio is 17%.

The median luxury sales price for Signal family homes has decreased to $2,279,474.

The median day on the market for December of 2018 was 81 days, down from 83 in November 2018.