The Institute’s Luxury Market Report is your guide to analyzing trends and comparative data in the top residential markets across Canada and the United States.
June’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend.
This month, the Institute reviews the luxury trends to expect this summer. What are the must-haves and are there any surprises?
How will the shifts and changes of affluent buyer expectations play out in their choices of properties, locations and their list of requirements and amenities?
The report acknowledges the calm strength of the luxury real estate market, which shows a steady growth in sales and continued price stability despite outside uncertainties.
Is there a parallel between the steadiness of the market and design trends that are expected to focus on trends with more permanence rather than quick fads?
Quality, endurability and sustainability are key components in this post-pandemic frame of mind as the affluent seek to capture a sense of well-being by creating more natural and healthy living space.
The report investigates how the cool sleek lines of modern living are being replaced by the need for comfort, textures and color, which not only create ‘hygge’-like living but also provide individuality, inspiration, and unique concepts.
Sustainable, recycled, and ethical are hot topics in every avenue of life, and 2023 home décor trends are following suit.
Expect to see natural materials mixed with old and new concepts, and for technology and environmental consciousness to be integrated in all aspects of real estate.
These may not be new concepts, but the passion for creating a natural and healthy space is certainly a growing trend.
It is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities, rather than just listening to the market rhetoric.
Click here to see The Institute’s full report.
For homeowners looking to sell or buy their luxury home in today’s market, the Institute recommends working with a REALTORⓇ who can provide you with critical knowledge about your local market, maintain a high level of security and safety during the process and who knows how to leverage technology and strategies to provide maximum exposure and assistance.
Get exclusive insights into the upper-tier real estate market at one of The Institute for Luxury Home Marketing’s live or online training sessions. Enroll today!
