$\"Selling$ \n

If you own a luxury house, you\u2019re in a stronger spot than most sellers right now. While much of the market has cooled, the high-end tier hasn\u2019t. Sale prices and buyer demand are both up. So if you\u2019re considering selling, now could be a great time to make your move.<\/p>\n

Luxury Is Leading on Price<\/strong><\/h4>\n
Let\u2019s start with prices<\/a>. But before we get into it \u2013 what actually counts as a luxury home? Generally, these are homes in the top 5% price range for the area, so it varies depending on where you live.<\/p>\n
But what\u2019s interesting is that according to the latest data from Redfin,<\/em> <\/em>sale prices for luxury houses have risen about three times faster than for non-luxury.<\/strong><\/p>\n
Right now, the typical home\u2019s sale price is up about 1.5% year-over-year. But high-end homes? Their sale prices have gone up nearly 5% since last year (see graph below<\/em>):<\/p>\n
$\"a$ <\/p>\n
That\u2019s a bigger deal than it sounds like.<\/p>\n
Despite all the talk about slowing price growth<\/a> lately, sale prices in this segment of the market may be rising faster than you\u2019d expect based on the headlines. That\u2019s going to be a good thing if you\u2019re thinking about selling. And rising sale prices are only half the story.<\/p>\n
Buyers Are Showing Up, Too<\/strong><\/h4>\nWhile so many headlines are talking about how buyers are pulling back<\/a>, that\u2019s not necessarily true when it comes to luxury homes. In fact, right now, it looks like the higher the price point, the more active the buyers.<\/p>\n
Lawrence Yun, Chief Economist with the National Association of Realtors<\/em> (NAR), explains<\/a>:<\/p>\n
\n
\u201cThe luxury market has really performed better compared to the lower price point. . . . if we look at price points, any home priced under $250,000, virtually no change in unit sales from one year ago. Then you go into the upper price category, and home sales are up about 10% from one year ago. But the million dollar-plus homes, it is up by 18% from one year ago.<\/em>\u201c<\/p>\n<\/blockquote>\n
Basically, more homes are selling on the upper end of the market. A big reason is that high-end buyers tend to feel less of the affordability pressure weighing on many households today, so they keep buying even when the wider market slows.<\/p>\n
That demand also means that luxury houses don\u2019t stay on the market as long as they used to.<\/p>\n
Luxury Houses Are Selling Relatively Quickly<\/strong><\/h4>\n
According to the most recent data from Redfin<\/em>, for luxury homes the median number of days on market is under 50. That\u2019s much faster than pre-pandemic norms going even as far back as 2014 (see graph below<\/em>):<\/p>\n
$\"a$ <\/p>\n
That means you probably won\u2019t spend a ton of time<\/a> sitting in limbo wondering when you\u2019ll get an offer.<\/p>\n
Bottom Line<\/h3>\n
Selling a high-end house is a big decision, and you deserve to feel confident going in. With sale prices climbing and buyers active at the top, this is a strong window to make your move.<\/p>\n
When you\u2019re ready to cash in, connect with a local real estate agent to talk strategy.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
If you own a luxury house, you\u2019re in a stronger spot than most sellers right now. While much of the market has cooled, the high-end tier hasn\u2019t. Sale prices and buyer demand are both up. So if you\u2019re considering selling, now could be a great time to make your move. Luxury Is Leading on Price […]<\/p>\n","protected":false},"author":1,"featured_media":6559,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-6558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t