May 2022 Boca Raton Area Luxury Market Report from Jean-Luc Andriot and The Institute for Luxury Home Marketing

As I am a member of The Institute for Luxury Marketing, I thought I would share with you their May 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:

The ebbs and flows of the luxury real estate market continue to be fascinating while still providing some unexpected twists and turns. At the beginning of 2022, experts had predicted a more traditional year, but reality tells a different story.
Much like actors, the players in the luxury real estate market need to have the ability to adapt to meet new expectations, as well as the demands of the audience – but equally, they must recognize
that longevity and ongoing success commands a hefty price tag.
That success has now gone global – if not viral! While the ownership of luxury properties throughout the world has always been part of the affluent's portfolio, prior to the pandemic, the pace of decisionmaking and purchasing was so much slower, with the level of inventory far exceeding the demand.
From London to Miami, Los Angeles to Sydney, the increasing demand for luxury properties continues to be at unexpected levels while inventory availability decreases and prices increase –
further compounded as more countries

Read on