As of Monday April 4, 2016
THIS WEEK
The Institute for LUXURY HOME Marketing National Report this week looked at 22959 luxury homes on the market. The ILHM Luxury Composite Price this week is $1,533,237. These homes have been on the market for an average of 161 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 have been climbing recently with a median price for the ILHM National sample this week reaching $1,533,237.
PRICE PER SQUARE FOOT
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 $396.
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 173 days.
LUXURY BY REGION
A look at the local luxury markets
around the country.
