The Global Luxury 2024 Mid-Year Report has found, after speaking with hundreds of luxury agents and consumers across the country, that optimism in the market as we move into Q4 and beyond is high.  Across the nation, the optimism is highest in the Northeast with 91.42% of people surveyed expressed this sentiment.  68.6% of agents are predicting prices will remain stable, and 60% are predicting slight increases in inventory - which is on track with how the market has been trending in the first half of 2024.  

Another reason to be optimistic about the market is the rate at which home buyers are paying cash: 32%, which is the highest rate since 2014, according to the National Association of Realtors (NAR).  There has also been a noticeable shift in…

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According to the Global Luxury 2024 Mid-Year Report, Boston was in the top 25 of cities across the nation with the growth percentage in the top 10% of homes sold increasing by 44% from 2020 to 2024.  Among the top 5% of homes, only Miami and Los Angeles had higher growth rates than Boston, which increased by 43.3% during that time.  There is a lot of consumer confidence and optimism among the top agents in the Northeast about the luxury market, particularly in the resilience of high net worth individuals to external economic pressures.  As consumers have adjusted to the new landscape of higher rates and prices, the luxury market in Boston has continued to flourish.

For a copy of the report, give me a call or text at (617) 875-8331 or email me at:…

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Coldwell Banker's Global Luxury Division has released the 2024 Mid-Year Report: Market in Review.  According to the data and research compiled over the last 18 months, the luxury market remains strong with prices and inventory up slightly, but definitively from 2023 to 2024.

With single family homes, the price has been up consistently every month in 2024 compared to the same month in 2023, with inventory increasing as well.  The average days on market is slightly higher at 29 days in 2024 compared to 26 days in 2023.  The trends indicate the single family homes market shifting from a balanced market to more of a seller's market.

The luxury condo market is indicating similar trends, with the price, $/sq ft and inventory levels up from 2023…

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