San Francisco’s real estate market experienced a 7% home pricing decline year-over-year, from September 4th, 2021 to September 4th, 2022 as outlined in a recent report by Redfin.

As the Labour Day long weekend came to a close, mortgage rates had increased again, affecting real estate activity throughout the San Francisco Bay Area and the rest of America, according to the report.

While the theme of “real estate” and “Homebuying” begins to experience variations of decreasing popularity for the average American due to increased mortgage rates, steady housing prices, and a continued lack of inventory across North America, sellers began to decrease their home prices at a near a record high while home-touring activity slowed.

As a result of decreasing demand for homes, recent home sales sold 0.3% below its final list price following a year and a half of the average home selling above list price, according to the report. The number of homes selling below list price experienced the biggest increase since February 2021 while the sale-to-list price ratio also decreased to its lowest level since March 2021, discouraging homeowners from entering the market. In return, the number of new listings decreased 18% year-over-year.

“The housing market always cools down this time of year, but this year, I expect fall and winter to be especially frigid as sales dry up more than usual… Thanks largely to mortgage rates near or even above 6%, potential homebuyers and sellers are focusing on the back-to-school season and enjoying the last days of summer rather than getting into an uncertain market. It may feel like you are playing roulette when it comes to timing when to lock your mortgage rate, but just remember you can refinance when eventually rates do turn down.” – Redfin Chief Economist Daryl Fairweather.

Source: Redfin – Housing Market Update: Mortgage Rate Spike Further Cools Homebuying and Selling

The Turks & Caicos real estate market is starting to slow with decreasing sales in the first half of 2022, but a new buyer-cycle is expected to fuel the market again according to the recent 2nd Quarter Market Report for 2022 by Turks & Caicos Sotheby’s International Realty.

Out-of-country homes, sales have investor confidence up with increased activity from North American buyers and owners, with 85% of real estate owners re-engaging with the TCI real estate market, as mentioned by the Sotheby’s report.

While single-family villas lead the majority of sales throughout 2021, buyer interest has shifted to condominiums, according to the report. Condominium sales have increased 42.54% year-over-year, with the help of sales from luxury developments like the Rock House, and Ritz Carlton. Overall, sales were down 10.5 %, year-over-year with $327,501,259 in total sales.

“TCI continues to see steady demand for quality real estate, though certainly a bit less frenetic than in 2021. Q3 and Q4 will see the launch of significant blue chip new developments, which bodes well for future inventory and our evolving luxury tourism product.” As reported Turks & Caicos, Sotheby’s International Real Estate.

This Market Report has been provided by David Green, Turks & Caicos Sotheby’s International Realty LuxuryHomes.com Affiliate

Learn more.

Sources: Turks & Caicos Real Estate Market Report – 2nd Quarter 2022 YTD Comparison

Oahu luxury real estate agent, Caron B Davis, and Luxury Homes Affiliate member summarized the recent real estate statistics for Oahu, Hawaii, with 56 luxury single-family home sales in June. 

Single-Family Homes

In June, 56 luxury homes sold at or above $1.8M, although it is a slight decrease from June of 2021, it is still very high. The median price was $2,375,000, with no change compared to June 2021. Homes sold after an average of 32 days on market, 8 days faster than last June. This is the second fastest since we started tracking data in 2017. The price per square foot increased significantly to $1,063.40, up 20.8% from last year. Homes sold for 101% of their asking price, on average, and 75% of them sold at or above the asking price. This is the highest proportion of homes at or above the asking price.

Highest Sold Single-Family Home in March

Lanikai, Kailua – 2 Homes Sold Together Total: 8 bedrooms | 8 bathrooms |  2 half baths | 8,204 square feet living | 20,111 sq ft land

Why this property is spectacular:  2 Exquisite Modern Homes on Iconic Lanikai Beach. Expansive living spaces with floor-to-ceiling windows showcase the stunning turquoise waters, sparkling white sands & world-famous Mokulua Islands. Streamlined minimalist design & lush tropical landscaping create a private resort-like oasis.

Sold at: $23,888,888 without listing to the executive of a California venture capital firm.

Picture from Honolulu Board of Realtors

Condominiums

There were 16 luxury condo sales, up 100% over the 8 that sold in March 2021; they sold for a median price of $2,850,000. Condos received 97% of their asking price and over one-third of them sold at or above the asking price. Condos sold after 81 days on average. This is significantly faster than condos have been selling over the past few months.

Highest Sold Condo in March

Park Lane, Ala Moana 4 bedrooms | 4.5 baths | 4,200 square feet interior

Why this property is spectacular: This luxurious Park Lane condo has an expansive lanai with ocean views and a built-in BBQ station. It boasts a 2-car private garage and the building offers resort-style amenities and is moments from the beach.

Sold at: $12,150,000 after 44 days on market to an investor from Texas.

Picture from Honolulu Board of Realtors

This Market Report has been provided by Caron B Davis, Caron B Realty International LuxuryHomes.com Affiliate

Click here to learn more.

Source: CaronBRealty.com – Luxury Market Update for Oahu & Our Neighbor Islands: June 2022 Honolulu Board of Realtors

Statistics for luxury real estate sales in Oahu, Hawaii have been provided by Luxury Homes Affiliate and Oahu luxury real estate agent, Caron B Davis. Single-Family Homes In the luxury single-family home market, there were 59 home sales at or above $1.8M in March. The is the third highest number of sales in a month …

The post Market Update: Oahu, HI March 2022 appeared first

Statistics for luxury real estate sales in Oahu, Hawaii have been provided by Luxury Homes Affiliate and Oahu luxury real estate agent, Caron B Davis. Single-Family Homes In the luxury single-family home market, there were 59 home sales at or above $1.8M in March. The is the third highest number of sales in a month …

The post Market Update: Oahu, HI March 2022 appeared first on LuxuryHomes.com - Living.

Vancouver’s real estate market has continued to remain strong throughout the start of 2022 with the third-highest March on record but could start to cool off. According to Macdonald Realty’s April 2022 – Lower Mainland Monthly Update and statistics from the Real Estate Board of Greater Vancouver and the Fraser Valley Real Estate Board, sales have …

The post Market

Vancouver’s real estate market has continued to remain strong throughout the start of 2022 with the third-highest March on record but could start to cool off. According to Macdonald Realty’s April 2022 – Lower Mainland Monthly Update and statistics from the Real Estate Board of Greater Vancouver and the Fraser Valley Real Estate Board, sales have …

The post Market Update: Vancouver, BC April 2022 appeared first on LuxuryHomes.com - Living.

After a record-breaking year, single-family home prices continue to surge throughout the state of California, according to the California Association of Realtors. As the spring real estate season approaches, California’s median single-family home price has continued to increase throughout the winter months. in recent months to $771,270, a 0.7% increase from January 2022, and a …

The post Market

After a record-breaking year, single-family home prices continue to surge throughout the state of California, according to the California Association of Realtors. As the spring real estate season approaches, California’s median single-family home price has continued to increase throughout the winter months. in recent months to $771,270, a 0.7% increase from January 2022, and a …

The post Market Update: California March 2022 appeared first on LuxuryHomes.com - Living.

Luxury real estate markets across North America stand strong as global wealth sees a substantial increase in 2021, according to Coldwell Banker Global Luxury’s release of The Report: 2022 Global Luxury Market Insights.   “Stock market gains, rising home equity, increased savings and the cryptocurrency boom have all contributed to a massive expansion of wealth …

The post Market

Luxury real estate markets across North America stand strong as global wealth sees a substantial increase in 2021, according to Coldwell Banker Global Luxury’s release of The Report: 2022 Global Luxury Market Insights.   “Stock market gains, rising home equity, increased savings and the cryptocurrency boom have all contributed to a massive expansion of wealth …

The post Market Update: Luxury Real Estate Outlook 2022 appeared first on LuxuryHomes.com - Living.

While single-family home sales dropped overall compared to last year, the median sale price continues to increase in Sedona’s real estate market, according to  RE/MAX Sedona Market Update for February 2022.  The median home price in Sedona increased to $875,000 from $650,000 in 2021, a 35% rise. The report also outlines that 2021 also recorded 623 …

The post Market

While single-family home sales dropped overall compared to last year, the median sale price continues to increase in Sedona’s real estate market, according to  RE/MAX Sedona Market Update for February 2022.  The median home price in Sedona increased to $875,000 from $650,000 in 2021, a 35% rise. The report also outlines that 2021 also recorded 623 …

The post Market Update: Sedona, AZ Feb 2022 appeared first on LuxuryHomes.com - Living.

The Toronto Regional Real Estate Board reports a substantial decrease in real estate transactions compared to this time last year, mostly due to the historically low amount of MLS listings.  January 2022 recorded 5,636 real estate transactions throughout the Toronto area, an 18.2% decrease compared to last January, according to a recent TRREB report. Active …

The post Market

The Toronto Regional Real Estate Board reports a substantial decrease in real estate transactions compared to this time last year, mostly due to the historically low amount of MLS listings.  January 2022 recorded 5,636 real estate transactions throughout the Toronto area, an 18.2% decrease compared to last January, according to a recent TRREB report. Active …

The post Market Update: Toronto, ON Jan 2022 appeared first on LuxuryHomes.com - Living.

Statistics for luxury real estate sales in Oahu, Hawaii throughout January 2022 have been provided by one of LuxuryHomes.com’s affiliates, Caron B Davis with Caron D Realty International. Single-Family Homes In the luxury market, January saw 37 homes sell at or above $1.8M. Although this is a lower number than we’ve seen during the past few months, it …

The post Market

Statistics for luxury real estate sales in Oahu, Hawaii throughout January 2022 have been provided by one of LuxuryHomes.com’s affiliates, Caron B Davis with Caron D Realty International. Single-Family Homes In the luxury market, January saw 37 homes sell at or above $1.8M. Although this is a lower number than we’ve seen during the past few months, it …

The post Market Update: Oahu, HI Jan 2022 appeared first on LuxuryHomes.com - Living.

Supply and demand for homes throughout Beverly Hills are becoming more level making the real estate market throughout the area more balanced than in previous months, according to realtor.com’s recent statistics. The median listing home price during November 2021 was $5.3M, which is a 34.7% increase compared to November 2020. The median listing price per …

The post Market Update:

Supply and demand for homes throughout Beverly Hills are becoming more level making the real estate market throughout the area more balanced than in previous months, according to realtor.com’s recent statistics. The median listing home price during November 2021 was $5.3M, which is a 34.7% increase compared to November 2020. The median listing price per …

The post Market Update: Beverly Hills, CA Jan 2022 appeared first on LuxuryHomes.com - Living.

Real estate markets across North America can expect Seller’s market conditions to continue into the new year, as Zillow’s 2022 housing forecast expects a “strong long-term outlook” driven by continued demand and limited availability of supply. “The strong long-term outlook is driven by our expectations for tight market conditions to persist, with demand for housing exceeding …

The post Market

Real estate markets across North America can expect Seller’s market conditions to continue into the new year, as Zillow’s 2022 housing forecast expects a “strong long-term outlook” driven by continued demand and limited availability of supply. “The strong long-term outlook is driven by our expectations for tight market conditions to persist, with demand for housing exceeding …

The post Market Update: North America 2022 Real Estate Forecast appeared first on LuxuryHomes.com - Living.

Vancouver’s real estate market continues to experience extremely low inventory levels while home prices continue to increase, creating a uniquely strong Seller’s market, according to a recent report from Faith Wilson Christie’s International Real Estate. Historically low inventory levels have caused prices to continue to rise throughout the Vancouver, British Columbia real estate market. According …

The post Market

Vancouver’s real estate market continues to experience extremely low inventory levels while home prices continue to increase, creating a uniquely strong Seller’s market, according to a recent report from Faith Wilson Christie’s International Real Estate. Historically low inventory levels have caused prices to continue to rise throughout the Vancouver, British Columbia real estate market. According …

The post Market Update: Vancouver, BC November 2021 appeared first on LuxuryHomes.com - Living.

The latest statistics from September 2021 are out for luxury real estate sales across the beautiful island of Oahu, HI, thanks to one of our Luxury Affiliates, Caron B Davis with Caron D Realty International. Single-Family Homes October was another big month for luxury homes on Oahu. There were 62 homes sold at or above $1.8M, …

The post Market Update: Oahu, HI November

The latest statistics from September 2021 are out for luxury real estate sales across the beautiful island of Oahu, HI, thanks to one of our Luxury Affiliates, Caron B Davis with Caron D Realty International. Single-Family Homes October was another big month for luxury homes on Oahu. There were 62 homes sold at or above $1.8M, …

The post Market Update: Oahu, HI November 2021 appeared first on LuxuryHomes.com - Living.

Luxury home sales throughout Santa Fe, New Mexico experienced a double-digit increase compared to last year, especially those over $1 million according to Sotheby’s international Realty third-quarter market report. Throughout the third quarter… home sales rose by 20% overall. Sales for homes priced between $1 million and $2 million rose 74% year-over-year, and sales for …

The post Market

Luxury home sales throughout Santa Fe, New Mexico experienced a double-digit increase compared to last year, especially those over $1 million according to Sotheby’s international Realty third-quarter market report. Throughout the third quarter… home sales rose by 20% overall. Sales for homes priced between $1 million and $2 million rose 74% year-over-year, and sales for …

The post Market Update: Santa Fe, NM October 2021 appeared first on LuxuryHomes.com - Living.