1、LUXURY MARKET REPORTLUXURY MARKET REPORT 2024 IN REVIEW2024 IN REVIEWKEY TERMS IN THIS REPORTMAP OF LUXURY RESIDENTIAL MARKETSTHIS IS YOURLUXURY MARKET REPORTREMAINING INVENTORY:The total number of homes available at the close of a month.DAYS ON MARKET:Measures the number of days a home is available
2、 on the market before a purchase offer is accepted.LUXURY BENCHMARK PRICE:The price point that marks the transition from traditional homes to luxury homes.NEW LISTINGS:The number of homes that entered the market during the current month.PRICE PER SQUARE FOOT:Measures the dollar amount of the homes p
3、rice for an individual square foot.SALES RATIO:Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers.A Buyers Market has a Sales Ratio of less than 12%;a Balanced Market has a ratio of 12%up to 21%;a Sellers Market has a ratio of 21%or higher.A Sales R
4、atio greater than 100%indicates the number of sold listings exceeds the number of listings available at the end of the month.SP/LP RATIO:The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.Welcome to 2025:In this review,we will break down the key even
5、ts,trends,and insights from 2024,concluding with an outlook for the North American luxury real estate market in 2025.The luxury real estate market in 2024 was marked by a series of transformative trends,with key developments shaping the high-end housing sector throughout the year.After a challenging
6、 2023 characterized by limited transactions and stagnation,the luxury market made a remarkable resurgence.The year saw a notable recovery,driven by factors such as economic stabilization,a rise in inventory levels,and the return of affluent buyers with renewed confidence.First Quarter 2024:Resurgenc