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Luxury housing market inspires ‘total frenzy’ in vacation boom towns

Housing Wire

In the third quarter, luxury home sales jumped 41.5% , the biggest year-over-year shift since 2013, according to Redfin. And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer , their respective housing markets are still crazy right now. 1, and runs through May 1. “We’ve

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Prices for luxury homes soared in the first quarter 

Housing Wire

Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile. High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market.

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Sales of luxury homes skyrocket in first quarter

Housing Wire

. “[Selling] isn’t as big of an issue for luxury homeowners since there’s a relative abundance of high-end homes to choose from,” Fairweather said. The consequences of low inventory finally caught up with the housing market in February, with tightened supply largely responsible for a 10.6%

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While the Austin housing market isn’t sizzling, agents say it is still warm

Housing Wire

It is nearly April, which means temperatures in the Austin metropolitan area are heating up — and so is the housing market. If it is priced at a higher price point, it may also sit a bit longer because your buyer pool is smaller, so that is a challenge for more of the luxury properties that are going up.”

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5 Contingencies You Should Never Remove When Buying a House

Realtor

In our current seller’s market, the national inventory of active listings is down 43.1% year over year, according to the Realtor.com June 2021 Housing Market Trends Report. Getty Images Buyers, we know it’s hard out there for you right now.

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Agents in Illinois grapple with the state’s housing inventory shortage

Housing Wire

Despite the population decline, Illinois’ housing market remains relatively strong. The state has an Altos Research Market Action Index score of 44, which is above the national score of 39. Altos considers anything above 30 to be indicative of a seller’s market. It’s depressing,” Laricy said of the downtown market. “One

Inventory 438
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‘La Dune’ in the Hamptons fetches record $88M at live Sotheby’s art auction

Housing Wire

. “The remarkable final sale price for ‘La Dune’ reflects its stunning design, exclusive address, and historic pedigree,” said Chad Roffers, the founder and CEO of Sotheby’s Concierge Auctions, who recently appeared on HousingWire’s Power House Podcast.