Boston Area Move In Homes Luxury Market Report July 10 2014

Boston Area Move In Homes Luxury Market Report July 10 2014  The Luxury Market has been moving up, the inventory is down a bit, but growing faster than normal. The Days on Market is lower and our prices are better than the averages across the country. All of this is good and somewhat expected what we are hearing both in the media and seeing on the yellow brick road. The Institute of Luxury Home Marketing indicates it is a Warm Seller's Market meaning that the Seller is seeing more buyers than they need.  This is also showing up for the future as well with more houses absorbed than came on the market which will result in a lower number of homes on the market.  This can drive prices up further and Days on Market down, we will see how it plays out through the summer.  Quite often the luxury market Buyers and Sellers are off on Luxury vacations and will get back to it at some point in September.  For now that has not happened as of yet.

ILHM-Boston-Price-july 2014

Here are more of the graphs and they provide this same information in graph rather than narrative. The 7 days pricing is showing movement before the trickle with the prices spiking just a bit higher and faster than the 90 day pricing.  Price is a fluid, it will continue to move on a daily basis reflecting what happens around it.  It will react on local factors, more than it will to national issues unless they are significant.

You will see in this slide to the right that the Boston Area luxury homes come at a higher cost than it does on a national level.  New York, San Francisco, Boston, and other major cities where high paying jobs exist will always have luxury homes for these people and they will be nicer than in areas that don't have such a well paid senior work force.

For the next couple of weeks we are likely to see a decline in all aspects of this activity as things slow for vacation. This would be a normal market should that happen over the next 6 weeks into September. Boston Area Move In Homes Luxury Market Report July 10 2014