The May 2023 Luxury Market Report

The May 2023 Luxury Market Report


The Institute’s Luxury Market Report is your guide to analysis on the trends and comparative data in the top residential markets across Canada and the United States.

May’s report examines the current statistics of the luxury market in North America on a month-to-month basis, along with the 13-month trend.

This month, we explore new mindsets and location trends following the World Health Organization’s declaration that the pandemic is ‘no longer a global emergency,’ symbolizing its end.

After three years of decisive relocations, migrations, and changes in homeownership, what are the long-term effects of the decisions made by the wealthy?

We investigate how their choices have impacted real estate purchases, particularly in the luxury market, and consider the implications as we move forward.

We examine whether affluent priorities have shifted and how their influential power has affected the popularity and wealth of both new and existing markets worldwide.

We delve into why the affluent are embracing a more purpose-driven lifestyle and how this has led to an increase in home purchases.

Additionally, we reveal some of the top markets currently experiencing the effects of this new mindset, both in the United States and Canada.

Has the global demand for luxury homes returned? If so, which cities are experiencing growth, and why is stability so important?

Nevertheless, as declining inventory continues to be the lynchpin of the market, we investigate some of the innovative solutions currently in play.

It is important to understand that the art of selling and buying should always include an analytical approach to truly grasp the realities, rather than solely relying on market rhetoric.

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The Grieger Group's proprietary process achieves optimal results, and they're here to help you make the ultimate real estate match that fulfills your highest goals. Whether you are seeking a wooded enclave in Orono or a lake-side estate in Woodland, they will find the right fit for your lifestyle.

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