Luxury home price appreciation is the highest it's been in the past four years, according to market reports for the first quarter of 2018. Luxury market prices are growing at a faster rate than the rest of the market which means it's a good time to list your luxury home.
The average luxury listing price is now $1.8 million, up 7.9% from this time last year where the average price was $1.6 mil. The rest of the market also showed a 7.5% increase with the average home price at $330,000.
A nationwide shortage of homes is driving up prices while the economy improves bringing in more buyers. This shrinking pool of available luxury homes could be an opportunity to sell your home fast and at a nice price.
If you've been thinking about listing, take the first step by clicking here to find out seller information from Waterfront Properties.