ILHM Luxury Housing Weekly Report

As of Monday June 27, 2016

THIS WEEK
The ILHM National Report this week looked at 25721 luxury homes on the market. The ILHM Luxury Composite Price this week is $1,558,935. These homes have been on the market for an average of 146 days. 

The Market Action Index measures available supply relative to the current level of demand. Index value above 30 indicates conditions favor the seller. See the section below for full details.

PRICE 
Luxury home prices across the ILHM National sample have stayed relatively stable in recent weeks. This week median price is $1,558,935. 

PRICE PER SQUARE FOOT
Price per square foot gives us a view to changes in how luxury homes are valued as well as how they're being constructed. Currently median price per square foot in the luxury homes is $400. 

SUPPLY AND DEMAND 
Residential prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained trends and an early view on coming price changes. 
The ILHM National market is currently slightly in the Seller's Market zone (greater than 30). The Market Action Index stands at 30 which indicates that luxury demand is relatively strong but the available supply of new listings doesn't get acquired immediately


The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller's Market” (a.k.a. "Hot Market") because demand is high enough to quickly consume available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "Cold Market") where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall. 



INVENTORY 
This chart illustrates the total number of homes in the ILHM sample each week. These are homes on the market for at least $500,000 in the top 10 zip codes for 31 major metro markets around the county. 

DAYS ON MARKET (DOM) 
The properties have been on the market for an average of 152 days.



LUXURY BY REGION 
A look at the local luxury markets around the country.