September’s Highlights for Luxury Market Report

Dated: September 22 2021

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       September’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 showcases comparative data on the top-residential markets throughout Canada and the United States.

·       This month’s report showcases the market statistics for North America month over month as well as the 13 month trend.

·       It also provides more in-depth statistics about South Walton County.

·       During the last few months the market has returned to a more normal pace for those looking to sell or buy luxury real estate, with sales and price increases moderating.  However, the inventory shortage is still playing a major role in market dynamics.

·       The pandemic created an extraordinary demand for homes with large square footage, extra rooms, outdoor space and privacy for the first 18 months, and the last 6 months has seen a significant uptick in the purchase of condominiums.

·       Discover in this month’s report new opportunities and trends that The Institute recommends both homeowners and investors consider when selling or buying a property during this fall season.

o   Return to Urban Living: increasing numbers are purchasing properties in the major metropolitan cities and enjoying the opportunity of buying in a softened market.

o   Emerging City Neighborhoods: more adventurous buyers are looking at neighborhoods that had been on trend for gentrification, ready to wait for greater equity return.

o   Opportunity in Compromise: buyers wanting a property in a high demand market, may want to consider purchasing a less desirable property to get their foot in the market – rather than wait and watch prices escalate further.

o   Home Field Advantage: increasing numbers of sight-unseen property purchases, especially those in multiple-offer situations, are being terminated before completion - causing sellers to rethink.  A local buyer who has seen the property and is able to move quickly will always be more appealing.

o   New Prioritiesas a result of the historic rise in property values over the last 12 months, many affluent are now starting to reprioritize their property purchases with a keen eye on market stability and potential returns.

o   Time to Diversify: now that remote working is mainstream, there has been an increasing focus on investing in multiple properties that align with people’s various lifestyle choices.

o   Growth of Cryptocurrency Buying: for holders of cryptocurrency, looking to diversify their portfolio, real estate’s stability and long-term growth potential is proving to be a perfect complement to this volatile digital currency.

·       For homeowners looking to sell or buy their luxury home in today’s market they 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.

View Report Below

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Garett Huber

Dedication | Commitment | Trust | A full-time Realtor within Santa Rosa Beach and surrounding areas, Garett offers a wealth of knowledge and experience that is unsurpassed. Garett's keen insight int....

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