Luxury Home Sales Report for Maryland and the Nation – Exclusive Charts
National Summary Charts – The charts below show the 7-day and 90-day rolling averages for median list price, days on market, and inventory for the national composite–a snapshot of how, together, the luxury markets around the country are performing.
Altos Research developed the Market Action Index (MAI) for an at-a-glance measurement of market conditions. The MAI is a barometer of real estate supply and demand. A value above 30 indicates demand is relatively robust, we call that a Seller’s Market. Below 30 is a Buyer’s Market.
Also use the Market Action Index trends as a leading indicator for prices. When markets fall persistently into Buyer’s territory prices will likely follow.
The definition of this market stat is:”Percentage of homes on the market that have decreased their asking price at least once over the past 90-day period.”
In any market, even in strong seller’s markets, there will always be some number of properties that will decrease their listing price. These may include sellers that drastically overpriced their homes just “to see what they could get” or homes that simply entered the market at a price level above what the market will bear.
Even in strong seller’s markets, the Percent Price Decreased will be 10-12%, so some repricing of individual properties is common in any market. In weaker markets, this value begins rise into the teens, 20%, 30%, and higher. Percent Price Decreased is an incredibly insightful gauge of demand levels in the residential housing market. This statistic illustrates how many listed properties may be behind the “price curve” – listed at a price above what the market is willing to pay for similar properties.
However, “Percent Price Decreased” alone does not indicate the overall health of a particular market. This statistic should be combined with other market stats to determine the overall direction of a market.
Local Detail Charts
Download the Current Executive Summary Report
How’s the market?
That’s the question this report answers for the “luxury market” nationwide, and for the luxury markets in more than 30 major metro areas.
The ILHM Luxury Market Report is a snapshot of the national luxury market. Like the Case-Shiller Composite Index and other national indices, it is a bundle of data from markets around the country that give a simplified view and try to get at the question of what’s happening in the marketplace.
Unlike virtually all of the other reports and indices out there the ILHM Luxury Market Report is focused exclusively on THE TOP OF THE MARKET. We know that markets are local. We also know that in a given place, at a given time, different price segments perform differently. Trophy homes at the top of the market might be in high demand and setting new price records, while in the same city starter homes might be stagnant and seeing major downward price pressures (or vice versa). Most major indices ignore this fact and lump all market segments together to get at some sense of overall market trends. We don’t.
In fact, we look at just the top of the market, so that you can see more clearly what is really happening in luxury markets around the country and the overall luxury trend at the national level.
The ILHM Luxury Market Report is the only real-time national index and report covering the luxury market.
The report is updated WEEKLY.
About Chris & Debbie Weymouth, The Weymouth Group, LLC: Your number one source for Maryland Real Estate Blogs, News, Videos, and more! Chris Weymouth, Your Luxury Home Realtor.
Chris Weymouth, Director, Certified Luxury Home Marketing Specialist, CLHMS and Debbie Luber Weymouth, Manager, have marketed and sold over 4000 homes in Maryland since 1983. Expertly trained and award winning agents, they are leaders for The Weymouth Group at Keller Williams that has been recognized by their peers as one of the best in the business. Chris Weymouth is ranked in the top 1% at Keller Williams Select Realtors, top 1% in Howard County and Maryland among Realtors. Serving Central Maryland and all our friends and family for almost 60 years. Need a Luxury Home Marketing and Buyer Specialist in Howard County (Ellicott City, Woodstock, Clarksville, Marriottsville, Fulton, Laurel, West Friendship, Glenelg, Columbia, Elkridge, Dayton, Mt. Airy, Woodbine and more), Carroll County (Elkridge & Sykesville), Baltimore County (Catonsville, Woodstock, Owings Mills, Pikesville and Reisterstown), Anne Arundel County (Pasadena, Severna Park, Hanover, Severn, Glen Burnie, Annapolis and Odenton), Prince Georges County (Bowie & Laurel), Montgomery County (Silver Spring, Olney, Bethesda and Sandy Spring) or Harford County? We Know This Market! Then call Chris at 443-280-1922 or email firstname.lastname@example.org