{"id":7733,"date":"2018-01-07T00:00:00","date_gmt":"2018-01-07T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/luxury-sales-slow-high-end-inventory-grows\/"},"modified":"2018-01-07T00:00:00","modified_gmt":"2018-01-07T00:00:00","slug":"luxury-sales-slow-high-end-inventory-grows","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/luxury-sales-slow-high-end-inventory-grows\/","title":{"rendered":"Luxury Sales Slow, High-End Inventory Grows"},"content":{"rendered":"

\n<\/p>\n

\n <\/p>\n
<\/p>\n

Luxury homes<\/a> sold at a slower pace in 2017, as more properties in the high-end market were put up for sale, according to a new realtor<\/a>.com\u00ae report. The number of million-dollar listings<\/a> grew by an average of 3.9 percent.<\/p>\n

Luxury properties\u2014defined as those with a sales price in the top 5 percentile\u2014took 5.4 percent longer to sell in 2017 than in 2016, spending an average of 116 days on the market. Prices of luxury homes also increased 5.1 percent in 2017. The overall housing<\/a> market posted a 6.9 percent year-over-year gain in sales prices. However, select markets, such as Hawaii, Colorado, and California, saw double-digit gains in luxury prices.<\/p>\n

\u201cAlthough 2017 was another strong year for the luxury housing market, it was once again outperformed by the U.S. market overall,\u201d says\u00a0Javier Vivas, director of economic research for realtor.com\u00ae. \u201cAge of inventory in the top 5 percent of the market slowed significantly over the last year\u2014a telltale sign that the supply in the luxury sector continues to outpace demand. Much of this slowing can be attributed to a wider selection of luxury homes for buyers and increased uncertainty over the last 12 months.\u201d<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

Source: realtor.com\u00ae<\/em><\/p>\n<\/div>\n<\/div>\n

Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Luxury homes sold at a slower pace in 2017, as more properties in the high-end market were put up for sale, according to a new realtor.com\u00ae report. The number of million-dollar listings grew by an average of 3.9 percent. Luxury properties\u2014defined as those with a sales price in the top 5 percentile\u2014took 5.4 percent longer […]<\/p>\n","protected":false},"author":1,"featured_media":7734,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,62,12908,543,127,344,41,818,479],"class_list":["post-7733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-for-sale","tag-home","tag-home-buying-guide","tag-homes","tag-housing","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3407,"url":"https:\/\/amazingproperty.com.ng\/blog\/more-ultra-luxury-sellers-face-stale-listings\/","url_meta":{"origin":7733,"position":0},"title":"More Ultra-Luxury Sellers Face \u2018Stale\u2019 Listings","author":"Amazing Property","date":"April 14, 2017","format":false,"excerpt":"In the high-end market, more properties are lingering. Some sellers are having to reduce their prices in the ultra-luxury market, in the hopes of getting a quicker sale. Otherwise, those hoping to hold out for a higher price are finding they\u2019re waiting not months but years to make a sale.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":771,"url":"https:\/\/amazingproperty.com.ng\/blog\/luxury-owners-rethink-how-they-use-space\/","url_meta":{"origin":7733,"position":1},"title":"Luxury Owners Rethink How They Use Space","author":"Amazing Property","date":"February 14, 2017","format":false,"excerpt":"[ad_1] Some luxury owners are scaling back the number of bedrooms in a home to leave more space for hobby rooms and other amenities that can raise the property\u2019s value, The Wall Street Journal reports. Read more: 21st Century Tools for Selling Luxury But some real estate experts warn that\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2312,"url":"https:\/\/amazingproperty.com.ng\/blog\/talk-up-that-nearby-gym\/","url_meta":{"origin":7733,"position":2},"title":"Talk Up That Nearby Gym","author":"Amazing Property","date":"March 21, 2017","format":false,"excerpt":"Some real estate pros are finding it's a benefit to highlight gyms near the condos or homes they\u2019re selling, just like you might do for a good school. Read more: 6 Resolutions to Get Fit While Landing Clients The gym impact to values may be especially pronounced in luxury apartments.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33729,"url":"https:\/\/amazingproperty.com.ng\/blog\/luxury-real-estate-market-increase-in-demand\/","url_meta":{"origin":7733,"position":3},"title":"Luxury real estate increased in demand","author":"Amazing Property","date":"April 6, 2022","format":false,"excerpt":"The Nigerian luxury real estate market is getting a significant boost. The Nigerian luxury real estate market is getting a significant boost from increasing number of wealthy individuals, who are seeking to own multiple homes and new portfolios. The luxury residential market increased last year as a result of the\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"luxury real estate","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/08\/Real-estate-blog-in-Nigeria.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":127076,"url":"https:\/\/amazingproperty.com.ng\/blog\/luxury-real-estate-market-trends\/","url_meta":{"origin":7733,"position":4},"title":"Luxury Real Estate Market Trends","author":"Amazing Property","date":"May 26, 2024","format":false,"excerpt":"Market Performance Overview Luxury real estate markets are experiencing notable shifts. In the first quarter, luxury home prices rose by 9% compared to the previous year, double the increase for non-luxury homes. The median luxury home price reached a record high of $1,225,000, despite elevated mortgage rates. Affluent buyers remain\u2026","rel":"","context":"In "RealEstate"","block_context":{"text":"RealEstate","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/realestate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/luxury-real-estate-market-trends.jpeg?fit=1200%2C686&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/luxury-real-estate-market-trends.jpeg?fit=1200%2C686&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/luxury-real-estate-market-trends.jpeg?fit=1200%2C686&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/luxury-real-estate-market-trends.jpeg?fit=1200%2C686&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/luxury-real-estate-market-trends.jpeg?fit=1200%2C686&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":1440,"url":"https:\/\/amazingproperty.com.ng\/blog\/luxury-sellers-arent-going-to-like-this\/","url_meta":{"origin":7733,"position":5},"title":"Luxury Sellers Aren\u2019t Going to Like This","author":"Amazing Property","date":"February 28, 2017","format":false,"excerpt":"[ad_1] More high-end home sellers across the country are being forced to offer discounts as the luxury real estate market shows signs of softening, The Wall Street Journal reports. Read more: Luxury Owners Rethink How They Use Space \"Buyers are very price sensitive,\" says Donna Olshan, a real estate professional\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/realtor.comluxury1.png?fit=640%2C118&ssl=1","_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=7733"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/7734"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=7733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=7733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=7733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}