May 2023 Luxury Market Report & Shifting Priorities in the Luxury Market


Relocation, migration, and multiple homeownership are not new words in the world of real estate luxury or not; it’s one of the main reasons that the industry exists.

The pandemic years probably saw the biggest change in the decision process of the affluent as a group, whether it was fleeing from metropolises or being unable to travel at their leisure. These recent moves were anything but typical, with rural and destination locations seeing some of the largest increases of affluent wealth impacting their communities.

Now as the pandemic fades (officially, the World Health Organization said on Friday, May 5th, 2023, that COVID-19 no longer qualifies as a global emergency, making this a symbolic end), what are the long-term effects of the decisions made by the wealthy during the last 3 years and how does this bode for the future?


In this month’s report we review:

  • New mindsets and location trends now that the World Health Organization has declared the pandemic ‘no longer a global emergency’ – a symbolic
  • If affluent priorities have changed and how the effects of their powerful
    influence have influenced the popularity and wealth of communities throughout the
  • Why the affluent are moving toward a more purpose-driven lifestyle and
    how this has impacted the number of homes they are buying.
  • Has the global demand for luxury homes returned, if so, which cities are seeing growth and why is stability so important?

Check out the Whistler and North American Luxury Report below: (Whistler Report on Pages 21-26)

WHISTLER DETACHED HOMES on Page 23 is a Buyer’s Market with a 3% Sales Ratio.

• Homes sold for a median of 92.78% of list price in April 2023.
• The most active price band is $8,000,000-$9,999,999, where the sales ratio is 40%.
• The median luxury sales price for detached homes is $9,000,000.
• The median days on market for March 2023 was 69 days, up from 23 in April 2022.

Referrals are one of the Pillars of our Business.

We are never too busy for your referrals! If you can think of a friend or family member looking to buy and/or sell Real Estate in the Sea to Sky Corridor – Please keep the Morel Real Estate Team top of mind!

Thank you for taking the time to view this report.  For more information and the services we offer, please give us a call us at any time, at 604-932-8629.
                                                                                                – Ursula Morel