December 2022 Luxury Market Report

“Properties are still selling, just not at the same velocity seen in the last two years, but still at a healthy rate by historical levels.

The most notable trends in the current market are the continued decline in the volume of sales and inventory levels as well as the number of new listings entering the market.

Despite the decline in the number of transactions over the last few months, there are no critical signs of distress in the luxury market.

All markets tend to be cyclical, so it was not unexpected to see the return of more moderate conditions earlier this year. The major difference was how swiftly this change occurred, as the impact of a weakening economy took its toll on the luxury market." - Luxury Market Report