Despite pessimist forecasts in the 4th quarter – 2018 gave us a year of fairly strong consistency with no dramatic up or down swings in sales, inventory and pricing. Some markets certainly fared better than others, but in general terms 2018 should be remember as the start of “change” in terms of purchasing power, preferences, and demand.
In review of December’s luxury property sales there was seemingly a significant decline of 7.5%; not unexpected as this is typically one of the slowest months of the year. More importantly, when compared to December 2017 there is very little difference in the number of sales, consolidating predictions that the market is changing its demand – perhaps there is a slight softening, but certainly no dramatic decline.
The following is your guide to luxury real estate market and trends for January 2019. This is a monthly report which provides an in-depth look at the top residential markets across the United States and Canada.