|Dec 2022 Luxe Real Estate Report|
Here is the Dec 2022 Luxe Real Estate Report by the staff at RE Luxe Leaders. Each month the folks at Luxe take a look at the US Luxury Real Estate Stats.
Admittedly the numbers skew in luxury from pocket to pocket, but keeping an eye on the trends in a year over year, three, five and ten year gives us some very interesting insights.
The real estate market is slowing across the country. Year over year stats have the top of the national market up 11.13% to an average price of $522,753. The Executive Class Luxe is performing at 11.60% year over year. The Luxe Class of $2 million + is performing at 12.21%. Uber Luxe, those properties over $5 million, is performing at 13%.
Demand is softening seasonally. This is amplified with inflation and ever rising interest rates. Some markets are experiencing price declines (<5%) due to the inventory dump of iBuyers and institutional investors. Inventory overall is increasing and prices will start moderating into a flat or slight growth or slide.
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