As people realize their needs are changing, some are turning to luxury housing to find their dream home. Investopedia helps define what pushes a home into this category. In a recent article, they point out that a luxury home isn’t only defined by its price. Location is also an important factor. It could be a condo at a desirable city address, a spacious home on the water, or one with access to luxury activities like arts and entertainment, high-end shopping and dining, and more. The home itself will also boast some of the finest features available.
According to the Luxury Market Report from the Institute for Luxury Home Marketing, there’s been a substantial increase in how many buyers are purchasing luxury homes over the past two years. It says:
If you own a luxury home, it could be a great time to list your house today while demand is so high. But first, let’s understand where the demand is coming from.
The same report says more people have reached a certain net-worth threshold, and that’s contributing to the increased interest in luxury housing:
So, if you’re looking to make changes to your real estate portfolio or are looking to sell your current house, it may be a great time to list and benefit from the high demand for luxury homes today.
If you own a luxury home and want to know how strong demand is in your area, let’s connect so you can capitalize on current market conditions while buyer demand for upscale homes is so high.
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Buyers: You May Face Less Competition as Bidding Wars Ease
In a recent article, they point out that a luxury home isn’t only defined by its price.
Both mortgage rates and home prices have risen this year, it costs more to buy a home.
If you’re considering homeownership, know that it can give you privacy.
You have likely been shopping around online, and now you are feeling ready to start seeing homes.
You should be obtaining a pre-approval letter from your mortgage planner.
Your credit will be one of the key factors in determining whether or not you are approved.
It’s in your best interest to not be in a hurry and make a list in advance of any questions or concerns.
Keisha Tompkins is the Realtor® who has the ability to strategically create the right marketing solutions to get your home sold. Keisha Tompkins has a strong knowledge of the current market trends and networks with thousands of area real estate professionals.