Monday October 24, 2016
The ILHM National Report this week looked at 24818 luxury homes on the market. The ILHM Luxury Composite
Price this week is $1,525,810. These homes have been on the market for an average of 162 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 $1,525,810.
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 $408.
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 in the Buyer's Market zone (below 30), though not strongly so. The Market Action Index stands this week at 28 so luxury buyers should expect to find reasonable levels of selection.
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 154 days.
LUXURY BY REGION
A look at the local luxury markets around the country.
