August 2025 Luxury Market Report

The luxury real estate scene across North America in 2025 is holding strong, but with a little more pickiness in the air. Buyers are getting choosier, sellers are playing it cautious, and the market is adjusting right along with shifting economic vibes.

​August slowed down a bit compared to July (no surprise, it’s the summer vacation lull), but looking back at last year and even 2023, sales are still holding steady. In short, the luxury crowd isn’t sitting this one out. What’s interesting, though, is that the factors driving today’s activity feel different than what we were seeing earlier in the year.

August brought a 6.7% jump in single-family home sales compared to last year, a big step up from the 2.6% gain in August 2024 and the 3.8% bump in July 2025. The luxury condo and townhome market is still quieter than single-family homes, but it’s showing encouraging signs of balance. Sales dipped just 0.4% year-over-year, a much softer drop than the 4.2% decline we saw in August 2024 and the 9.2% slide this past July.

In August, luxury single-family and attached homes told a mixed story: strong buyer demand met limited new supply. Buyers stayed active despite rate shifts and global uncertainty, while sellers grew more selective about listing. This push-and-pull sets the stage for how the market may unfold through the rest of 2025.

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