Please take a look at the January 2023 Luxury Market Report For 2023. Flipbook here.
One year later from January of 2022, the luxury seems to have given buyers a little breathing room. While the market crash talk is great for creating headlines, it simply does not reflect the facts on the ground. While inventory has risen quite a bit, off of extremely low numbers, we are still in a seller's market as far as pricing goes. Days on the market, total inventory, and months of supply are trending up, which should slow the price gains in the Q2 and Q3 of this year. We are a long way from the forced selling of 08-09.
Luxury homes west of 41 from Port Royal To Barefoot Beach: Sales down 33%. New listings are Up 36% and total inventory is up 90%. Prices still appreciated 2% year-over-year.
Luxury Condos west of 41 from Port Yoral to Barefoot Beach: Sales down 18%. New listings are up 13% and inventory is up 35%. Prices are still up 29% year-over-year.
If you have any questions or would like to know your property's value, please give me a call anytime for a no-pressure pricing analysis!