Found 2 blog entries tagged as Luxury Market.

Luxury Home Prices Jump 3x Faster Than Average

Luxury housing continued to outperform the broader market in October, with prices up 5.5% — nearly triple the growth of non-luxury homes, according to Redfin. Strong equity markets and cash-heavy buyers are keeping high-end demand resilient, even as typical buyers remain constrained by current mortgage rates. Additional findings:

  • Number of sales: Luxury up 2.9%. Non-luxury sales at 0.7%.

    • Both markets are still near decade-low October levels.

  • Inventory: Luxury up 6.4%. Non-luxury up 9.5%

    • Highest October levels in 5 years, but still below pre-pandemic norms.

  • Days on Market: Luxury up to 58…

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Luxury Home Sales Jump by Double Digits in Q3

In the third quarter of 2024, luxury home sales in markets north of New York City saw significant growth, with double-digit increases in Westchester, Putnam, and Dutchess counties. The lower end of the luxury market experienced the bulk of the activity, while sales of homes priced above $5 million slowed.

Westchester County Luxury Sales

($2M and Higher)

Homes Sold:

Up 23.9%

Median Sale Price:

Down 3.4%

Q3 Highest Sale Price: 

$9,900,000, Rye

Ralph’s Take

The ongoing strength of the stock market, combined with a recent decline in interest rates, offers promising signs for the…

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