October 2023 Luxury Market Report

October'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.
   
• We review the status of September’s market as this month is usually a good barometer of the direction of the market for the next few months.
   
• Initial review shows a slower market, but while the key indicators would suggest we are moving towards a buyer’s market, the statistical 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, in reality?
   
• We investigate why this market is acting differently from traditional norms, what are the influences both within the market and from outside forces.
   
• We review which properties are thought to be better investment returns or in greater demand by affluent purchasers.
   
• And why, over the long term, real estate offers one of the most consistent ways to see a good return. 
   
• 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.  

As always, if you have any questions don't hesitate to reach out! 
 804-350-0879 | [email protected] | chrissmallgroup.com

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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.

If you would like to know more about the current market, or if you have any general real estate questions, call or text me on my cell phone at 804-350-0879 or you can email me at [email protected].

If you are looking to begin a home search, visit my website to get started!