Luxury real estate market in 2018:
In California home prices, in both the luxury and non-luxury homes, went up. Luxury homes saw a 7.4 percent year-over-year to $1.76 million in Q4 2017 (according to Redfin market report).
Even with the market prices surging, the inventory across the luxury market has declined. inventory for homes priced at $1 million and above fell by 23.8 percent year-over-year and homes $5 million and above also took a hit, declining 23.4 percent (according to Redfin market report).
Take a look at the data below:
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