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$1-3M Available Inventory
The total available inventory in November was 946 homes, representing a 7% decrease compared to October 2024, but a 26% increase compared to the same time last year. While the month-over-month drop reflects seasonal trends, the year-over-year growth signals greater options for buyers who are actively searching for their ideal home.
$1-3M New Listings
Additionally, 197 new homes came to market in November, marking a 21% decline in new listings from last month but a 21% increase from November 2023. For buyers, this means a fresh crop of high-quality homes is available to explore. For sellers, it’s a reminder to position their homes effectively in a competitive, yet dynamic, marketplace.
$1-3M Closings: A Steady, Positive Momentum
In November, 946 homes sold in the $1M-$3M range, a 1% increase from last month and an impressive 23% increase year-over-year. This uptick in sales reflects strong buyer confidence and robust demand in this price bracket. Whether upgrading, relocating, or investing, buyers are actively closing deals—a great sign of vibrancy in the market.
$1-3M Pricing: Stability with a Positive Trajectory
The median sales price in November reached $1.345M, reflecting a 4% increase from last month and a 1% rise from the previous year. These incremental gains underscore the stability of the $1M-$3M market, offering sellers the reassurance of maintaining strong property values while buyers benefit from steady appreciation in their investment.
Key Takeaways for $1-3M Buyers and Sellers
The $1M-$3M real estate market is thriving as we close out 2024, marked by a balanced combination of increased inventory, steady sales, and rising values. Both buyers and sellers can find advantages in today’s conditions, whether that’s more choices for buyers or stronger negotiating positions for sellers. The key takeaway? Despite seasonal trends and an ever-changing economic backdrop, the $1M-$3M market remains dynamic, attractive, and full of possibilities for those ready to take their next step.
$3-5M Available Inventory
The total inventory for the $3M-$5M market in November stood at 130 homes, reflecting a 12% drop compared to October. However, this marks a 10% increase year-over-year, showcasing a healthier selection for buyers compared to last year.
$3-5M New Listings: Evolving Opportunities
New listings totaled just 13 homes, a 54% decline from the previous month and 35% fewer than November 2023. This tightening of new inventory is a strategic advantage for sellers—less competition means your property can stand out more easily in a crowded luxury landscape.
$3-5M Closings: Buyers Are Still Active
November saw 9 homes sold in the $3M-$5M range, a 31% drop from October but a 50% increase compared to last year. This year-over-year growth signals that demand in this price bracket remains robust, with serious buyers closing deals despite the limited new inventory.
$3-5M Median Pricing Stability: Confidence in Value
The median sales price for November was $3.8M, unchanged from both last month and November 2023. Stability in pricing is a testament to the market’s strength, reflecting continued confidence in the value of properties in this range. For sellers, this is a positive indicator that luxury homes are maintaining their worth in today’s market.
Key Takeaways for $3-5M Buyers and Sellers
The $3M-$5M luxury segment is demonstrating its resilience and attractiveness as we approach the end of 2024. With rising closings, steady prices, and increased inventory compared to last year, the market remains dynamic and full of opportunity. Whether you're looking to buy a dream home or capitalize on the value of your luxury property, the $3M-$5M market is delivering strong prospects for savvy buyers and sellers alike.
$5-10M Available Inventory
Total inventory for November came in at 97 homes, reflecting a 2% decrease compared to last month, but an impressive 29% increase year-over-year. This gradual growth signals a balanced market with more choices for buyers while keeping demand strong for sellers.
$5-10M New Listings
New listings for the month totaled 14 homes, a 13% drop from October but a remarkable 180% surge compared to November 2023. This influx of new properties entering the market offers fresh options for buyers and indicates increased seller confidence.
$5-10M Sales Activity
Momentum Continues to Build November saw 6 homes sold in the $5M-$10M range, a 50% increase from the previous month and a 20% rise compared to last year. These numbers highlight the growing demand in this segment, with affluent buyers ready to make significant investments.
$5-10M Pricing Trends
A Market of Appreciation The median sales price for the month was $6.05M, reflecting a 20% increase from October and a 10% rise year-over-year. These gains demonstrate that properties in this range are appreciating steadily, making it a strong market for sellers while providing buyers with valuable, enduring investments.
Key Takeaways for $5-10M Buyers and Sellers
A Positive Outlook for the $5M-$10M Market The $5M-$10M luxury real estate segment is thriving, driven by expanding inventory, robust sales activity, and appreciating property values. Whether you're looking to make your next big move or sell your luxury property at its peak, this market is full of possibilities. Partnering with an experienced team of luxury real estate professionals ensures you’re positioned to navigate and succeed in this dynamic landscape.
$10M+ Available Inventory
In November, total available inventory in the $10M+ market reached a 2 year all time high at 46 homes, marking a 7% increase from last month and a significant 44% rise compared to November 2023. This growth in inventory gives buyers access to a wider selection of world-class estates, while sellers benefit from increased activity in this elite price range.
$10M+ New Listings
New listings held steady at 6 homes, matching October’s numbers but reflecting a 25% decrease compared to 12 months ago. This limited influx of new properties ensures that current listings stand out in a less crowded market, creating an advantage for sellers ready to showcase their homes.
$10M+ Sales Activity
Buyers Are Ready to Invest November saw 2 closings in the $10M+ range, doubling both last month’s sales and those of the same time last year. This uptick in activity demonstrates that affluent buyers are moving with intention, seizing opportunities to own properties in one of the most coveted tiers of the market.
$10M+ Pricing Insights
A Strategic Market for Buyers The median sales price for November was $10.625M, reflecting a 29% decline compared to October and a 58% decrease year-over-year. While these figures may seem like a downturn, they underscore a rare opportunity for buyers to secure trophy properties at more competitive prices. Savvy sellers, on the other hand, can leverage these conditions to attract motivated buyers with premium marketing strategies.
Key Takeaways for $10M+ Buyers and Sellers
The $10M+ Market is Still a Power Play Despite some fluctuations in pricing, the $10M+ market is thriving with opportunity. Buyers are motivated, inventory levels are robust, and the sales momentum signals strong demand. The market continues to be an exclusive space where unique, high-caliber properties shine. For buyers, now is the time to secure a rare piece of luxury real estate. For sellers, leveraging the right strategies can position your property as the ultimate dream home for today’s elite buyers.
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