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The Institute for Luxury Home Marketing’s (ILHM) latest Luxury Market Report is a guide to an analysis on the trends and comparative data on the top-residential markets throughout Canada and the United States.

August’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend.

As we head into the peak of summer, ILHM reviewed “The Changing Trends of Second Home Markets” by taking a look at some significant shifts that have been affecting these markets, often considered to be second home or vacation communities.

Moving from east to west, ILHM reviewed five markets that showcase the effect of the COVID-19 pandemic and the high-net worth’s purchasing impact on these communities.

– The Hamptons, New York

– The Palm Beaches, Florida

– Coeur d’Alene, Idaho

– Lake Tahoe, California

– The Hawaii Islands, Hawaii

And are joined by:

– Michael Daly of Douglas Elliman Real Estate (Hamptons)

– Liz Armstrong, Director of Luxury Sales for The Keyes Family of Companies (The Palm Beaches)

– Mark Montgomery of John L Scott Real Estate (Coeur d’Alene)

– Trinkie Watson of Chase International (Lake Tahoe)

– Anton Steenman, President & CEO of Elite Pacific Properties (Hawaii)

Understand how each of these markets have been affected, how luxury real estate experts have and are currently managing individual demands from their affluent clientele, what their predictions are for the long term, and which property types have proved to be in high demand.

Discover how technology and its advances have facilitated a fairly swift market recovery and how some of these new processes and procedures are actually benefiting all parties involved.

See the Institute’s full report.

Get exclusive insights into the upper-tier real estate market in one of The Institute for Luxury Home Marketing’s live or online training sessions. Enroll today!

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