As we move into the latter half of the year, it's important to stay informed about the trends in the luxury real estate market. Thanks to the comprehensive Franklin Loan Center(FLC) Luxury Price Index, we have valuable insights into the current state of luxury country clubs. Here’s a detailed look at the latest figures from July:

Prices

The FLC Luxury Price Index, representing the average price of a 4,500 square foot home across fifteen of the top luxury country clubs, ended July at $3,837,289—up 4.0% year-over-year. Individual country club performance varied significantly, with El Dorado Country Club experiencing the highest gains at 40.8%, while Tamarisk Country Club saw a decline of 14.8%.

Sales

In July, luxury home sales averaged 17.7 units per month, marking a 5.3% increase from last year. However, the dollar sales of luxury homes over the last three months averaged $54 million per month, a significant 38.6% drop compared to the same period last year.

Inventory

The total inventory of luxury homes in these fifteen country clubs stood at 73 units by the end of July, reflecting a 30.4% increase compared to last year. The “months of sales” ratio, a key indicator of market supply, rose to 4.2 months from 3.3 months a year ago.

Days on Market

The average "Days on Market" for luxury homes in July was 68 days, three days less than the previous year. This is still notably faster than the pre-pandemic average of 120 days. Selling times varied by country club, with El Dorado Country Club boasting an average of just four days, while the Vintage Country Club had an average of 156 days.

Price Discount/Premium

In July, luxury homes sold at an average discount of 4.1%, slightly higher than the 3.7% discount seen a year ago. Discounts ranged from just 0.2% in Thunderbird Heights to a more significant 10% in The Madison.

A special thank you to Walter Neil at Franklin Loan Center for allowing us to use these detailed reports. If you need assistance with financing, Walter is here to help with all your loan needs.

For more information, you can visit our website to view the full report and explore available luxury listings. Whether you're looking to find your dream home or sell your current property, we're here to help every step of the way.