Sotheby’s Intl. Realty 2023 Luxury Outlook Report released, global survey says interest continues for high-end properties amid fluctuating market

A 6,000 sq. ft. Deer Valley ranch home. Photo: Summit Sotheby’s Realty

NEW YORK CITY and Park City, UT – On Thursday, January 5, global real estate firm Sotheby’s International Realty published its 2023 Luxury Outlook Report, an exclusive, comprehensive look into current real estate trends and statistics from high-end residential markets across the globe. 

This year’s report, the third edition of the Luxury Outlook, includes results from a global survey of real estate professionals who typically transact in the US$10M+ price category. The results of this survey show continued appeal in luxury properties, despite fluctuating market dynamics and interest rate increases.

Following two years of real estate hysteria driven by historically low interest rates and the global Covid-19 pandemic, the 2023 Luxury Outlook Report demonstrates that luxury agents continue to see buyer interest in high-end, luxury properties – especially among affluent clients. With global wealth creation expected to rise over the next several years, this will likely translate into another influx of luxury buyers, with demand driving up price points in high-end residential markets around the world.

“As a leader in luxury real estate, buyers and sellers know they can turn to Sotheby’s International Realty agents in any market,” said Philip White, president and chief executive officer of Sotheby’s International Realty. “Luxury Outlook is an extension of the service and expertise our clients have come to expect from our brand and offers an inside look into the biggest happenings in real estate – from how past market corrections can set a stage for what lies ahead to the up-and-coming global markets for luxury investors.”

The 2023 Luxury Outlook report is exclusive to the Sotheby’s International Realty brand and is an ambitious exploration into high-end residential markets across the globe, identifying trends that are likely to shape the world’s prime housing markets in the coming months. Visit luxuryoutlook.com to read the complete report from Sotheby’s International Realty today.

Summit Sotheby’s International Realty® was organized in 2008 and became the exclusive Sotheby’s International Realty affiliate for the state of Utah. In the firm’s first year, SSIR produced $135 million in sales volume; 13 years later, in 2021, the firm closed $5.4 billion in sales while representing Utah’s most significant properties, estates, and new developments. The industry leader has been recognized by Inman, Real Trends, Utah Business, and Who’s Who in Luxury Real Estate for its excellence in marketing, philanthropy, sales, and new construction projects. Summit Sotheby’s International Realty® has 13 locations throughout the state with over 300 sales associates and support staff serving Utah’s best-known luxury markets in Park City, Draper, St. George, Moab, and Salt Lake City. Visit summitsothebysrealty.com for more.