Century 21 Partners with The Institute for Luxury Home Marketing
Century 21 Real Estate has joined forces with The Institute for Luxury Home Marketing, launching a new collaboration that focuses on enhancing resources available to agents in the luxury real estate sector. The partnership debuted with a jointly branded quarterly luxury market report, announced on Thursday.
Exclusive Benefits for Century 21 Agents
As part of this collaboration, agents affiliated with Century 21 will gain access to exclusive member benefits from The Institute for Luxury Home Marketing. These benefits include:
- Luxury-focused educational courses
- Localized market reports
- Insights into wealth trends
- Advanced marketing tools
Tori Keichinger, Vice President and Head of Marketing for Century 21 Real Estate, emphasized the evolving perception of luxury real estate, stating, “The idea of luxury real estate continues to evolve for today’s affluent buyers — it is not limited to a specific price point, but more of a mindset and lifestyle they are looking to attain.”
This collaboration aims to equip agents to better serve clients navigating the complexities of luxury transactions.
Upcoming Educational Initiatives
The partnership will also see both Century 21 and The Institute co-hosting multiple live-streamed luxury courses throughout the year. Industry leaders, including Sarah Gunnip of Century 21 Mike Bowman, Inc. and Laura Heigl of Century 21 Scheetz, will lead these educational sessions.
Q1 2025 Luxury Market Report Highlights
The inaugural quarterly report provides valuable insights into the luxury market for the first quarter of 2025, covering closed sales from January through March. Key findings include:
- A 26.3% year-over-year increase in single-family home inventory
- A 27.3% rise in inventory for luxury condos and townhouses
- The median price for luxury single-family homes is set at $900,000, while attached homes sit at $700,000
Sales figures indicated a healthy market, with luxury single-family properties rising by 9.4% and condos and townhouses increasing by 2.4% year-over-year.
Market Trends and Buyer Behavior
The report highlighted a shift in buyer demographics, revealing a growing presence of millennial and Gen X buyers. These buyers are making purchase decisions based on lifestyle aspirations rather than short-term investment gains. Factors influencing these transactions include:
- Relocation
- Upsizing
- Acquisition of secondary homes
Outlook for the Luxury Market
Although new construction remains below pre-2008 levels, demographic shifts such as population growth and wealth migration are sustaining demand in the luxury sector. Despite potential challenges from interest rates and economic fluctuations, the overall luxury market shows promise for stability moving forward. The report underscores that luxury real estate is often viewed as a dependable safeguard against economic uncertainties.
“As confidence grows and supply improves, the market appears well-positioned to absorb short-term shocks and continue its upward trajectory,” the report concludes.
Accessing the Full Report
For those interested in further details, the full Q1 2025 Luxury Market Report is available for viewing.