A bird’s eye view on today’s luxury market

Photo by Michael Beener on Unsplash

J. Lennox Scott is quoted in a recent story in RISMedia about the state of the luxury real estate market. 

RISMedia | Barbara Pronin

In high-end real estate, life goes on.

[…] “The luxury market is definitely back,” says Lennox Scott, chairman and CEO, John L. Scott Real Estate, serving four Northwest states. “For Seattle homes listed at $1 million and above, where there is a shortage of inventory and surging interest, we are seeing intense activity—perhaps the highest in our history—and we expect that trend to continue as travel restrictions ease and buyers feel safer coming in from other states.”

June figures for the Seattle area, reports ILHM, show inventory levels down by 25 percent, but sales up by 43 percent over the last year and as much as 73 percent over May’s sales.

Read the story online here: The Luxury Market Mid-Pandemic: A Bird’s Eye View