Luxury market ‘not what it was’

Screen Shot 2016-08-04 at 7.30.50 AMREALTORMag

The power may have shifted in the luxury housing market from sellers to buyers, who now appear to have the upper hand in negotiations, MarketWatch reports.

Jed Garfield, president of Leslie J. Garfield & Co. in New York, says the luxury sector started swinging toward a buyer’s market in late 2015, when properties listed at fair market prices were lingering. But now the power shift has become more pronounced, he says.

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