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ABOUT JADA TURNER

JADA TURNER

Associate

Luxury Collection Specialist

Berkshire Hathaway Homeservices Smith Mountain Lake Real Estate

Jada Turner services the Smith Mountain Lake and surrounding counties, where she has resided for over twenty-four years. She has a caring, confident personality that shines through in her steadfast efforts to guide her clients. A champion for her clients, she has a determination to make the buying and selling process as stress free and comfortable as possible. Her goal is to create clients for life, often becoming friends by the end of a transaction and representing multiple generations within a family.

She is known for her outstanding professionalism and stellar service. Her reputation locally by clients, customers and agents alike is one of an outstanding, trusted real estate advisor. She consistently delivers five star, first class service.

“The most excellent Broker at the Lake”

“We just can’t thank Jada enough for all that she did for us in selling our lake home. She did an amazing job and made it such a pleasant experience from beginning to end because of who she is, caring and warm, respectful of our feelings and needs, sharing her wealth of knowledge, keeping us up to date on all the home showings and gently guiding us to make good decisions! We are so happy that we went to her workshop and found the most excellent broker at the Lake!”

-Doug and Lorraine Conary

TRACK RECORD

Jada has a proven track record, consistently delivering as a top producer in her local market and is recognized in the entire worldwide Berkshire Hathaway network as a top 1% producer. She has participated in hundreds of real estate transactions in her career.

EXPERTISE

Jada is a tough and experienced negotiator, Harvard Business Law trained. She typically achieves a 5% higher than average sales price for her listing clients.

“Jada is the prototype of the perfect broker/partner/advocate for her clients”

“I was in the real estate industry for 25+ years and had the pleasure of dealing with hundreds of commercial and residential brokers along the way. In my opinion, Jada Turner is the prototype of the perfect broker/partner/advocate for her clients. She knew her market better than any broker I had previously encountered and was so helpful in every aspect of the entire process of selling and buying our home. I would recommend her without hesitation.”

-Paul and Lonnie Olimpio

MARKET KNOWLEDGE

Jada specializes in professional, customized, marketing plans for each individual listing client. She offers buyers and sellers alike resources and data to stay on top of the current market trends, including quarterly and annual market reports and consumer guides. Her weekly newsletter features a plethora of real estate advice and tips. Her free in person or virtual seminars and workshops provide invaluable insider insight on topics such as: Wealth Building through Real Estate, Downsizing, Real Estate Planning, and much more.

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NORTH AMERICAN LUXURY MARKET REVIEW

13-MONTH MARKET TRENDS

SINGLE-FAMILY HOMES MONTHLY OVERVIEW

ATTACHED HOMES MONTHLY OVERVIEW

MONTHLY STATISTICS BY CITY

LUXURY REPORT EXPLAINED

WELCOME MESSAGE

LOCAL LUXURY MARKET REVIEW

THANK YOU

NORTH AMERICAN LUXURY REVIEW

SALES

RISE AS INVENTORY TIGHTENS IN THE LUXURY REAL ESTATE MARKET

The North American luxury real estate market is continuing to demonstrate a resilience that increasingly sets it apart from the broader housing sector. While conventional market expectations would suggest that declining inventory and fewer new listings should lead to slower activity, the luxury segment is telling a very different story in 2026.

Traditionally, the spring market brings a significant increase in inventory as sellers look to capitalize on heightened seasonal demand. This year, however, a subtle but important shift has emerged. Over the past two months, the number of luxury properties entering the market has declined compared to the same period in 2025, yet sales activity has continued to strengthen, not only month-over-month, but year-over-year as well.

This divergence between supply and demand is revealing a luxury market that is being driven less by broader economic pressures and more by affluent buyer behavior, inventory scarcity, and long-term wealth positioning.

A CLOSER LOOK AT THE NUMBERS

The first two months of 2026 began much as expected. Both inventory and sales activity gradually increased for single-family and attached luxury properties as the market moved toward the spring season.

However, March marked the beginning of a notable shift. While overall inventory levels remained relatively consistent with 2025 figures, the number of new listings entering the market began to slow.

Compared to March 2025 new listings for single-family luxury homes fell by 3.1% and attached luxury properties declined by 7.2%

At the time, this appeared to be a potential anomaly. But April’s numbers suggest otherwise.

Although inventory levels continued to climb modestly from March into April, year-over-year inventory levels declined by 4.4% for single-family homes and 8.5% for attached properties.

More significantly, the number of new listings entering the market remained substantially below normal spring market expectations. Compared to April 2025 new listings for single-family properties fell 2.5% and attached properties declined by 9.8%.

This is not to say that inventory and new listings numbers are not increasing month-over-month in 2026, they are, but just at a much slower rate than typically expected.

Taken independently, declining inventory increases and reduced new listing activity would typically suggest a cooling market environment and softer buyer demand. However, the continued rise in both month-over-month and year-over-year sales activity points to a very different reality in the luxury sector: one driven by constrained supply, resilient affluent buyers, and increased competition for quality properties.

Sales of single-family luxury homes increased by 6.8% year-over-year compared to April 2025 and by 14.9% month-over-month compared to March 2026. Attached luxury properties also posted gains of 0.6% year-over-year and 4.3% month-over-month.

At the same time, market balance indicators continue to support seller strength. The median sold price for single-family luxury homes dipped slightly by 2.2%, while attached luxury properties posted a 1.0% increase. Average sold-to-list price ratios remained close to parity, and days on market held relatively stable across both segments.

Collectively, these metrics support that the single-family luxury market remains firmly in seller’s market territory, while the attached luxury segment is steadily trending back toward similar conditions.

WHY IS THIS HAPPENING?

Several broader economic and behavioral trends are helping explain why luxury real estate is continuing to outperform expectations despite declining inventory level increases.

AFFLUENT BUYERS ARE LESS SENSITIVE TO INTEREST RATES

One of the clearest distinctions between the luxury market and the broader residential sector is the financial profile of its buyers.

According to recent report from Realtor.com1, affluent buyers remain far less impacted by elevated borrowing costs because many are purchasing through cash reserves, portfolio-backed lending, or private banking relationships rather than relying on conventional financing.

This has created a situation where the luxury market is operating on a somewhat different thought

1 https://www.realtor.com/research/luxury-2026-outlook

process than buyers of traditional housing. While many midmarket buyers remain constrained by affordability pressures and mortgage rate volatility, high-net-worth individuals continue to transact based on lifestyle decisions, long-term investment strategies, and wealth preservation goals.

As a result, demand at the upper end of the market has remained surprisingly stable despite broader economic uncertainty.

SELLERS ARE HESITATING TO ENTER THE MARKET

At the same time, luxury sellers appear increasingly cautious about listing their properties.

Recent housing commentary reported by New York Post2 highlighted that many homeowners across North America are adopting a “wait-and-see” approach amid economic uncertainty and fluctuating interest rates. This trend appears even more pronounced in the luxury sector.

Unlike traditional homeowners who may need to move for financial or employment reasons, affluent sellers often have the flexibility to delay selling until market conditions align with their expectations. Many luxury homeowners are also reluctant to relinquish historically low mortgage rates or highly desirable properties unless there is a compelling reason to do so.

The result is a market where buyers remain active, but the flow of new inventory has become increasingly constrained.

SCARCITY IS DRIVING BUYER URGENCY

When inventory contracts while demand remains stable, competition naturally intensifies - particularly for high-quality properties in desirable locations. This appears to be exactly what is unfolding in the luxury segment.

Stable days on market and sold-to-list price ratios near parity indicate that well-positioned luxury properties are continuing to attract motivated buyers relatively quickly. Rather than waiting for additional inventory to arrive, many buyers are acting decisively when suitable properties become available.

In many markets, truly exceptional luxury inventory remains limited. Buyers understand that replacement opportunities may be scarce, particularly for turnkey homes, architecturally distinctive properties, or residences in highly sought-after neighborhoods.

This scarcity dynamic is increasingly shaping buyer behavior across North America’s luxury markets.

WEALTH CREATION CONTINUES TO SUPPORT THE LUXURY SECTOR

Another major factor supporting luxury housing demand is the continued expansion of wealth among affluent households.

2 https://nypost.com/2026/05/08/real-estate/homebuyers-sellers-growing-cautious-over-increasing-mortage-rates

Recent analysis from HousingWire3 notes that luxury real estate is increasingly moving independently from broader housing trends due to factors such as stock market performance, technology-sector wealth creation, intergenerational wealth transfers, and real estate’s growing role as a long-term wealth preservation strategy.

Even amid broader economic volatility, many affluent households continue to maintain strong balance sheets and substantial liquidity. This financial resilience is helping sustain demand for luxury real estate despite uncertainty in other sectors of the economy.

THE LUXURY MARKET IS NORMALIZED - NOT SLOWING

Importantly, the current market conditions do not necessarily point toward overheating. Instead, they suggest that the luxury market continues in its more normalized state, characterized by selective buyer competition and measured price growth, despite slowing inventory growth.

That distinction matters. The luxury market today is not being driven by speculative buying or unsustainable pricing surges. Instead, it is being supported by financially capable buyers competing for a relatively limited supply of desirable properties.

This is especially evident in the single-family luxury segment, where inventory shortages continue to place sellers in a position of strength. Meanwhile, the attached luxury market appears to be steadily regaining momentum after experiencing softer conditions over the past several quarters.

LOOKING AHEAD

As the market moves further into 2026, one of the most important indicators to watch will be whether inventory levels begin to recover during the traditionally active summer and early fall periods.

If new listing activity continues to remain below historical norms while buyer demand stays stable, luxury markets across North America could face even tighter conditions later this year.

For now, the data suggests that the luxury sector continues to demonstrate resilience that exceeds broader market expectations. Declining inventory would typically signal slowing momentum, yet rising sales activity tells a very different story: one defined by affluent buyer confidence, inventory scarcity, and the enduring appeal of luxury real estate as both a lifestyle and long-term asset.

3 https://www.housingwire.com/articles/luxury-housings-resilience-why-the-top-of-the-market-is-moving-on-a-different-cycle

– 13 - MONTH MARKET TRENDS

THE LUXURY NORTH AMERICAN MARKET

Single-Family Homes

Attached Homes Single-Family List Price Attached List Price

All data is based off median values. Median prices represent properties priced above respective city benchmark prices.

$1,700,000

$1,500,000

$1,300,000

$1,100,000

$900,000

$700,000

$500,000

– LUXURY MONTHLY MARKET REVIEW –

A Review of Key Market Differences Year over Year

SINGLE-FAMILY HOMES

SINGLE-FAMILY HOMES MARKET SUMMARY | APRIL 2026

• Official Market Type: Seller's Market with a 26.02% Sales Ratio.1

• Homes are selling for an average of 98.52% of list price.

• The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,303,250.

• Markets with the Highest Median Sales Price: Whistler ($9,700,000), Silicon Valley ($5,900,000), Los Angeles Beach Cities ($4,170,000), and Naples ($4,125,000).

• Markets with the Highest Sales Ratio: San Francisco (154.2%), Cleveland Suburbs (92.3%), Marin County (86.0%), and Hamilton County (84.4%). 1

A Review of Key Market Differences Year over Year

• Official Market Type: Balanced Market with a 19.81% Sales Ratio.1

• Attached homes are selling for an average of 98.88% of list price.

• The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $878,352.

• Markets with the Highest Median Sales Price: San Francisco ($2,687,000), Ft. Lauderdale ($2,250,000), Greater Boston ($2,175,000), and Park City ($2,175,000).

• Markets with the Highest Sales Ratio: Arlington & Alexandria (102.1%), Fairfax County (91.2%), San Francisco (91.0%), and Howard County (85.1%).

– LUXURY MONTHLY MARKET REVIEW –

– LUXURY REPORT EXPLAINED –

The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-squarefoot – to provide you a comprehensive North American Luxury Market report.

Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury singlefamily homes and luxury attached homes.

It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well.

Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.

By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher.

A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.

REPORT GLOSSARY

DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.

LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes.

NEW LISTINGS: The number of homes that entered the market during the current month.

PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.

SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. A Buyer's Market has a Sales Ratio of less than 12%; a Balanced Market has a ratio of 12% up to 21%; a Seller's Market has a ratio of 21% or higher. A Sales Ratio greater than 100% indicates the number of sold listings exceeds the number of listings available at the end of the month.

SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.

REMAINING INVENTORY: The total number of homes available at the close of a month.

LUXURY RESIDENTIAL MARKETS

The Luxury Market Report is your guide to luxury real estate market data and trends for North America.

Produced monthly by The Institute for Luxury Home Marketing, this report provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.

The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been provided by REAL Marketing, who has compiled the data through various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.

SMITH MOUNTAIN LAKE VIRGINIA

SMITH MOUNTAIN LAKE SINGLE

- FAMILY HOMES

LUXURY INVENTORY VS. SALES | APRIL 2026

$4,000,000+

$3,700,000 - $3,999,999

$3,400,000 - $3,699,999

$3,100,000 - $3,399,999

$2,800,000 - $3,099,999

$2,500,000 - $2,799,999

$2,200,000 - $2,499,999

$1,900,000 - $2,199,999

$1,600,000

$1,400,000

$1,000,000 - $1,099,999

$870,000 - $999,999

SMITH MOUNTAIN LAKE SINGLE

The median luxury sales price for

homes is $1,070,000.

The median days on market for April 2026 was 9 days, down from 17 in April 2025.