As we move through the summer months, it's essential to stay informed about the latest trends in the luxury real estate market. The June report from the FLC Luxury Price Index provides valuable insights into the current state of the market across fifteen top luxury country clubs. Here’s a comprehensive summary of the key findings:

Prices

The FLC Luxury Price Index, representing the average price of a 4,500 square foot home in the top fifteen luxury country clubs, concluded June at $3,853,775. This marks a 5.2% increase year over year. When examining individual country clubs, the average gains varied significantly, with El Dorado Country Club experiencing a remarkable 40.3% increase, while Tamarisk Country Club saw a decrease of 16.8%.

Sales

June witnessed an average of 17.3 luxury sales per month, a 6.1% rise compared to last year. However, the dollar sales of luxury homes over the last three months averaged $80 million a month, reflecting a 36.5% decrease from the previous year.

Inventory

The total inventory in the fifteen luxury country clubs at the end of June stood at 86 units, which is 36.5% higher than the previous year. The “months of sales” ratio was recorded at 5.0 months, compared to 3.8 months last year, indicating a slower market pace.

Days on the Market

In June, the average “Days on the Market” for luxury homes was 69, consistent with last year’s figure. This duration remains significantly lower than the pre-pandemic average of 120 days. By country club, the selling times ranged from a swift four days at El Dorado Country Club to 156 days at Vintage Country Club.

Price Discount/Premium

Luxury homes in June sold at an average discount of 4.2%, slightly higher than the 3.7% discount from the previous year. The discounts varied widely, from a minimal .9% at El Dorado Country Club to a significant 10% at The Madison.

 

We would like to extend our sincere gratitude to Walter Neil at Franklin Loan Center for allowing us to use these insightful reports. Walter Neil is an invaluable resource for loan needs, offering expert assistance to ensure smooth and successful transactions.

To stay updated on market conditions and to view the full report, visit our website. Additionally, you can explore available luxury listings and utilize our home valuation tool to make informed decisions in today’s dynamic market.

Whether you're looking to buy or sell in one of these prestigious country clubs, we're here to assist you every step of the way. Contact us today to take advantage of our expertise and resources.