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Luxury Market Heats Up as Affluent Buyers Seek ‘Forever Homes’

Appraisal Buzz

The bi-annual report reveals a resilient luxury real estate market in the first six months of 2024 that is slightly outpacing performance from the equivalent period in 2023. In a complementary survey of Coldwell Banker Global Luxury Property Specialists, nearly 70% of respondents expressed confidence in the health of the 2024 luxury market.

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Prices for luxury homes soared in the first quarter 

Housing Wire

29, nearly half (46.8%) of luxury homes sold were purchased in cash, up from 44.1% A surge in new listings of luxury homes was not enough to curb the price growth associated with rising demand. New listings of luxury homes soared 18.5% Meanwhile, sales of non-luxury homes decreased 4.2%

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While the Austin housing market isn’t sizzling, agents say it is still warm

Housing Wire

In February, we saw an overall uptick of 45% in new listings on a year-over-year basis, but we saw a 27% increase in homes prices under $300,000.” Even with the uptick in inventory, agents say they are still seeing properties receive multiple offers and go for more than the asking price. “If

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Agents in Illinois grapple with the state’s housing inventory shortage

Housing Wire

In downtown Chicago, with the high rises, it’s a buyer’s market — maybe the biggest buyer’s market in history if it’s a luxury property. “In Although housing market conditions may be challenging heading into the spring season, agents in the inventory-strapped state are optimistic that new listings will soon be coming to market.

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The 22 must-have real estate marketing tools for 2024

Housing Wire

Canva is perfect for everything from new listings to brand promotion. Of course, its physical location matters, but this category also relates to where you market the property. For instance, if you are selling a luxury property, is it being marketed on websites and at brokerages with relationships to luxury buyers?

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6 Ways Real Estate Technology Can Ruin Your Business

McKissock

“The days of ‘adequate’ photos are totally gone,” says Gretchen Koitz, principal of The Koitz Group , a firm that specializes in luxury properties in Maryland. “It It is imperative that agents turn to professionals so that properties are shown at their very best.

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SEATTLE ‘WALKING’ TOWARDS URBAN CONNECTEDNESS

Will Springer Realtor

“The few homes that are available are selling quickly and at or above list price.” fewer new listings, the number of sales rose 1.7% LUXURY LIVING With autumn just around the corner, it’s not surprising to see fewer homes coming on the market. While there were 5.8% against the previous month.

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