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Sales of luxury homes skyrocket in first quarter

Housing Wire

the biggest increase in luxury-home sales in the first quarter was Miami, with sales up 101.1% Lack of inventory , a national housing issue following the onset of the pandemic, isn’t an issue for luxury homes. In fact, the number of luxury homes for sale fell only 5.1% When looking at the largest markets in the U.S.,

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

Housing Wire

Real estate professionals throughout the state attribute the resilience of the state’s housing market to its perpetually low inventory problem. Inventory is almost nonexistent,” said Melissa Kingsbury , a Redfin agent who works in the southwest suburbs of Chicago. “If As of Feb. Across the state, as of Feb.

Inventory 438
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Luxury housing market inspires ‘total frenzy’ in vacation boom towns

Housing Wire

While the Palm Beach housing market has not seen a lot of bidding wars, Koch said that a lot of the inventory has been absorbed and properties are getting multiple offers. It’s been a really interesting summer, to say the least,” the agent at Tahoe Luxury Properties said. 1, and runs through May 1.

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2 of Every 25 U.S. Homes Worth at Least $1M

Empire Appraisal Group

Homes Worth at Least $1M By Kerry Smith While $1M signified luxury property a short while ago, it’s now 8% of the nation’s housing stock – but a large percentage of those homes are still in Pacific Coast states. As a result, inventory dropped so low that buyers still in the market are competing for those few homes that are for sale.

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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% Waiving it entirely is the equivalent of agreeing to buy a ticking time bomb, says Annie Kou , a Los Angeles–based brokerage owner and attorney at AK Luxury Properties. “By

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

Housing Wire

Additionally, Austin’s median list price has remained stable even as inventory has risen drastically from the troughs it reached in the spring months of 2021 and 2022. I feel like the market we are in, from an inventory standpoint, feels similar to last year.”

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What Are the Top Luxury Markets in North America Right Now?

McKissock

Their choice of parameter to measure performance was guided by the escalating number of luxury property sales and the importance of understanding this impact on the level of inventory available. King County, Washington.