Engel & Vlkers Consumer Trend Report Introduces The Next Luxury Home Seller

By David Lemon.
Updated Sep 27, 2021

NEW YORK (PRWEB) September 27, 2021 - Engel & Vlkers today released The Next Luxury Home Seller, a consumer trend report based on data from EVI, Engel & Vlkers proprietary data center, that identifies the demographics and mindset of luxury home sellers in North America, defined as homeowners who are planning to sell a home for more than $1 million dollars in 2021 or 2022. Millennials and Gen Xers will represent 80 percent of these luxury home sellers, driven by a desire to be close to family and the freedom to pursue the lifestyles they want, in the places they want to call home.

The past year has seen a significant surge in housing demand, resulting in record-low inventory levels with rising prices to match and a red hot market across North American real estate, said Anthony Hitt, president and CEO, Engel & Vlkers Americas. However, in every market situation there are homeowners willing to sell. The key is to identify which consumer segments fall within this group, and that is what we have done in this new trend report. At a time when the market is moving very quickly, weve gathered the intelligence that will allow real estate professionals to stay ahead of consumer trends and provide their own clients with an edge when buying or selling a home right now.

Engel & Vlkers EVI identified four distinct segments of Millennial and Gen X luxury home sellers that will drive luxury real estate sales throughout 2021 and 2022:

Across the board, luxury home sellers in 2021 and 2022 are focused primarily on family and space. They are making housing decisions based on living with or near family members, and ensuring that they have enough space in order to do so comfortably. Sixty-seven percent of luxury home sellers who currently live in an urban market would like to remain in a city, indicating that urbanites are not, in fact, fleeing their cities. Rather, the pandemic has shifted priorities so that luxury home sellers are pursuing homes that allow them to live where, and with who, they want.

Engel & Vlkers delved further into the data using MaX, its proprietary, data-driven technology platform that provides marketing intelligence, to identify the marketing platforms that will be most influential among luxury home sellers when they choose a real estate professional to represent them in the sale. Available for download in the full report, these results are broken down based on homeowners in the United States and Canada.

To download the full report, visit: https://www.evfranchise.com/the-next-luxury-home-seller.

Methodology In partnership with Researchscape, Engel & Vlkers Americas surveyed 1,700 respondents from across North America between June 22 to 23, 2021.

About Engel & Vlkers Engel & Vlkers is a global luxury real estate brand. Founded in Hamburg, Germany in 1977, Engel & Vlkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process for todays savvy homeowner. Engel & Vlkers currently operates approximately 225 shop locations with 4,500 real estate advisors in the Americas, contributing to the brands global network of over 13,500 real estate professionals in more than 34 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate and yachting. Committed to exceptional service, Engel & Vlkers supports its advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings and market data. Each brokerage is independently owned and operated. For more information, visit http://www.evrealestate.com.