luxury homes

Real Estate Insight

Average Sale Price for Luxury Homes Nationwide Fell 1.6%

The average sale price for luxury homes nationwide fell 1.6% to $1.55 million in the first quarter of 2019.

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Performance Property Real Estate Question

Sales Of These Homes Are Falling

Q: Are home sales increasing everywhere nationally? Kelly, Cleveland, OH A: All residential real estate is local, so it’s important to take headlines with a grain of salt. While home sales may be generally trending up in many metropolitan areas nationally, there are always areas where sales are trending down–normally due to local economic conditions because jobs and income more than anything else drive home sales and home prices. Furthermore, even in areas where home sales are increasing, they aren’t necessarily increasing for all homes. Case in point, home prices and sales of luxury homes are falling. Home buyers just don’t have the appetite for big luxury homes and mcmansions that they once did. Trends don’t last forever and more […]

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