In the real estate industry, there could be quite different guidelines in individual markets to measure where the luxury market begins and the ordinary ends.

In the Vancouver area, for instance, million-dollar sales are quite ordinary therefore, the term “million dollar and up” is not a sufficient definition of luxury real estate. To define the luxury market as the top 10 percent of any market versus a fixed value, addresses the markets that have properties valued at less than that $1M fixed value but the term defines the class so broadly, it dilutes the very market we are trying to define and the “top ten percent” does not account for uniqueness.

A better definition of luxury home, starting point and qualifier of a luxury property declares it is two to three times the average price of all homes in a particular geographic market. Luxury properties are anything but average…the above definition guarantees that the properties it identifies are indeed luxury and are positioned at the top of the market.

In the real estate industry, there could be quite different guidelines in individual markets to measure where the luxury market begins and the ordinary ends.

In the Vancouver area, for instance, million-dollar sales are quite ordinary therefore, the term “million dollar and up” is not a sufficient definition of luxury real estate. To define the luxury market as the top 10 percent of any market versus a fixed value, addresses the markets that have properties valued at less than that $1M fixed value but the term defines the class so broadly, it dilutes the very market we are trying to define and the “top ten percent” does not account for uniqueness.

A better definition of luxury home, starting point and qualifier of a luxury property declares it is two to three times the average price of all homes in a particular geographic market. Luxury properties are anything but average…the above definition guarantees that the properties it identifies are indeed luxury and are positioned at the top of the market.

In the real estate industry, there could be quite different guidelines in individual markets to measure where the luxury market begins and the ordinary ends.

In the Vancouver area, for instance, million-dollar sales are quite ordinary therefore, the term “million dollar and up” is not a sufficient definition of luxury real estate. To define the luxury market as the top 10 percent of any market versus a fixed value, addresses the markets that have properties valued at less than that $1M fixed value but the term defines the class so broadly, it dilutes the very market we are trying to define and the “top ten percent” does not account for uniqueness.

A better definition of luxury home, starting point and qualifier of a luxury property declares it is two to three times the average price of all homes in a particular geographic market. Luxury properties are anything but average…the above definition guarantees that the properties it identifies are indeed luxury and are positioned at the top of the market.