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This report is a guide to December’s highlights for Luxury Market Report to the luxury real estate market in North America and specifically the Hawaii Island Luxury Market.  This report provides an overall analysis with trends and highlights comparative data on the top-residential markets throughout Canada and the United States plus the Big Island for  Hawaii. Note the North America month over month trend  as well as the 13-month trend.As we move firmly into the last month of 2023, it seems the glimmer of change first seenin October’s data grew a little brighter during November. Note the various key data parameters such as the sold property numbers, new inventory entering the market, sold prices and the sold-price-to-list-price ratios to understand their significance.
And we investigate why new inventory is playing such an important role in today’s market. While sales have not increase month-over-month, and nor would we expect them to at this time of year, we appreciate why it is the comparison of data in the same months of 2022 that shows the optimistic change of the current market. Understand what economists predict with respect to mortgage rates during 2024 and how they could help the market rebound or cause problems if they drop too fast! We investigate why consumer sentiment is equally important and how it too could affect how the market performs in the new year. The big question of whether it is a good time to buy now or wait until more inventory becomes available, is also explored.As always it is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities within your local market, as they may differ from the viewpoint at the national level.

 
For homeowners looking to sell or buy their luxury home in today’s market I can provide you with critical knowledge about your local market, maintain a high level of security during the transaction and knows  how to leverage technology to provide maximum exposure and assistance. It is my responsibility as your REALTOR and BROKER to ensure that when others around you are lowering their expectations, that this becomes the time for us to switch gears and discover how to leverage the market effectively to achieve your goals.
For more information on my professional background and current affiliations visit my About page at SearchHawaiiProperty.com.

 

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