July 2022 Boca Raton Area Luxury Market Report from Jean-Luc Andriot and The Institute for Luxury Home Marketing
Posted by Jean-Luc Andriot on Thursday, July 21st, 2022 at 12:26pm.
As I am a member of The Institute for Luxury Marketing, I thought I would share with you their July 2022 report for Boca Raton - Delray Beach.
It is your guide to a general analysis on the trends and comparative data on the top-residential markets in the Boca Raton - Delray Beach area.
Statistics are separated between single family homes and condominiums / townhomes in Boca Raton - Delray Beach.
At the national level:
Before we head too far into the summer, we look back at the last six months to understand how the luxury real estate market has changed and review new trends emerging that will impact buyer
decisions as we move through the rest of the year.
Historically, the start of 2022 saw one of the strongest markets for luxury real estate. Demand for luxury properties outpaced new properties listed for sale, and inventory levels were at an all-time
low in most of North America’s luxury markets. Prices continued to escalate, reaching new heights as sellers received multiple bids, over-asking prices, and contracts without contingencies.