April 2019 Luxury Market Report

Spring is traditionally the busiest time of the year for your home sales. Research has determined that lifestyle, comparative affordability, and financial opportunity are the key differentiators in the decision process of the affluent buyer. I utilize statistical data on a local and national level to establish correct valuation of your property, length of time to sell and the perfect marketing strategy to connect with the right buyers. Buyers today have a greater opportunity to make informed decisions and are less willing to compromise. Therefore, it is imperative to comprehensively research all aspects of your property to create a long-term plan to attract potential buyers and keep the market engaged with your property.

To further assist you with planning your strategy and to effectively positioning your home, I compiled a summary report of Worcester County’s current market for luxury single family and attached homes.

Worcester County Market Summary

Single-Family Luxury Market

• The Worcester County single-family luxury market is a Buyer’s Market with a 6% Sales Ratio
• Homes sold for a median of 98.14% of list price in March of 2019.
• The most active price band is $700,000-$749,000, where the sales ratio is 50%.
• The median luxury sales price for single-family homes has increased to $861,500.
• The median days on market for March 2019 was 118 days, up from 30 in February 2019.

Attached Luxury Market

• The Worcester County attached luxury market is a Buyer’s Market with a 7% Sales Ratio.
• Homes sold for a median of 96.78% of list price in March 2019.
• The most active price band is $950,000-$1,024,999, where the sales ratio is 33%.
• The median luxury sales price for attached homes has decreased to $60,000.
• The median days on market for March 2019 was 217 days, up from 172 in February 2019.

The full report can be found below. For more information about this report and the services I can offer you and your luxury property, please give me a call at 410.430.1575 or email me at mnichols@LuxuryShoreLiving.com.