CHICAGO – The luxury market has seen a marked increase in activity the first half of the year, in large part due to the healthy return of the North American luxury real estate market, as well as the return of second home purchase activity. Growth has been notable not only in the number of high-end listings being marketed by member firms, but also in the number of companies joining the organization.
The increased activity is reflected on Luxury Portfolio International’s award-winning website,www.LuxuryPortfolio.com, which currently markets 18,500 properties, 20% more listings than this time last year. Traffic to the site is also up, attracting 250,000 visits a month from more than 200 countries/territories around the world, a year-over-year increase of 28%. Leads to member brokers are also up almost 40% over this time last year.
Luxury Portfolio International®, a global network of real estate firms, sees this growth being reflective of the activity most affiliates are experiencing in their local markets.
For example, in southern California, Willis Allen Real Estate CEO/Owner Andrew E. Nelson reports, “We are seeing a breadth of enthusiasm in our luxury market. In our high-end San Diego communities, activity is quite strong from two to four million dollars, as buyers see the possibility that the ‘bottom’ has already passed.”
In Dallas, the luxury market is thriving. “Year-to-date luxury home sales in the Dallas-Fort Worth market are up 23.2% over the same period last year,” says Mary Frances Burleson, president and CEO of the Ebby Halliday Companies, which includes Ebby Halliday, REALTORS® and Dave Perry-Miller & Associates. "It is not at all unusual for a well-priced home to draw multiple offers immediately after going onto the market.”
Canadian member CIR Realty also notes significant growth. "The luxury real estate market has been booming in Calgary. The first half of this year has seen 388 MLS sales of homes over $1 million, a 10% percent increase from the same period in 2012. The record for home sales over $1 million in Calgary was in July 2007 at 61 MLS transactions. We have a ways to go to get to peak periods, but if the trend continues at the same pace it has in the past year, we will get there," said Kirsten Faverin, marketing manager for CIR.
As market activity improves, interest in aligning with Luxury Portfolio has surged, with member recruitment on track to potentially double 2012 enrollment.
“We have seen an incredible increase in the number of firms seeking affiliation with Luxury Portfolio,” notes Stephanie Pfeffer, executive vice president. “While only a small number of these potential members meet our high standards, including significant luxury market share, experience in the high end and reputation, it has enabled us to expand significantly this year, as companies seek the most effective marketing strategies for affluent consumers.”
Internationally, new firms in growth markets include ART EMLAK (Istanbul, Turkey), BlueHouse (Prague, Czech Republic), Grupo Actua (Santo Domingo, Dominican Republic), and SPACE Gayrimenkul Danismanlik (Istanbul, Turkey). In more established luxury markets, new firms include CI Exclusive Properties (Geneva, Switzerland), Ganly Walters (Dublin, Ireland), hoamz ltd. (Queenstown, New Zealand), Rustic Corner (Barcelona, Spain), Sally McGarr Realty Corp. (Niagara-on-the-Lake, Ontario, Canada), and Profusion Realty (Westmount, Quebec, Canada).
U.S. companies joining the network include Beacham & Company, REALTORS (Atlanta, GA), Bluewater Real Estate (Emerald Isle, NC), Cutler Real Estate (Canton, OH), Florida Executive Realty (Tampa, FL), Gerrard-Hoeschler REALTORS (La Crosse, WI), Lyon Real Estate (Sacramento, CA), Mopper-Stapen, REALTORS (Savannah, GA), Perry & Co. (Denver, CO), Sand Key Realty (Clearwater Beach, FL), Sprague & Curtis Real Estate (Augusta, ME), Stone House Properties (West Stockbridge, MA), The Maine Real Estate Network (Portland, ME), Platinum Group, REALTORS (Colorado Springs, CO), Weichert Realtors, Coastal Properties (Hilton Head Island, SC), and Windermere Real Estate - Nevada (Henderson, NV).
According to Pfeffer, the positive growth is a trend most markets are experiencing: “Virtually all of our members are reporting dramatic increases in the luxury segment, and by all indications this is a trend that will continue.”
For more information, visit www.LuxuryPortfolio.com.
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About Luxury Portfolio International®
Luxury Portfolio International® (www.LuxuryPortfolio.com) is the luxury face of Leading Real Estate Companies of the World® (www.LeadingRE.com), the largest global network of premier locally branded companies dominated by many of the world's most powerful independent luxury brokerages. Luxury Portfolio International attracts a global audience of visitors from over 200 countries/territories every month and annually markets over 25,000 luxury homes to over 1.2 million high-net-worth visitors.
Media Contact: Robin LaSure / Luxury Portfolio International® / 312-424-0436 / rlasure@LuxuryPortfolio.com
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