Buying in the Luxury Home Market?

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Real Estate

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COLDWELL BANKER REALTY EXCEPTIONAL MARKETING SERVICE

Judith Sutton, Sales Representative, ABR, CRS, IDS, AHWD, PMN, ASP, IAHSP, SRES, WCR, RRS, RCC, GREEN

LOOKING TO BUY A LUXURY HOME IN TODAY'S MARKET?

 

If you have been looking for a home at the high end of our market (in the Somerset Hills), but haven’t found the right one, you may have put your search on hold. But according to recent data, now may be the time to jump back in. Here’s why.

 

There Are More Luxury Homes to Choose From!

 

What is considered the top-end of the market, or a luxury home, will always vary by location. But there are homes that are valued in the top 5% of any given market. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing. 

 

 

There are considerably more single-family luxury homes available now than there were a year ago. In fact, there are even more than there were just a month ago. This means you should have a wider variety of top-of-the-line homes to choose from, each with unique features and styles.

Whether you were searching for the latest design elements, like modern kitchens with chef-grade appliances, a gardener's dream, or upgrades that include integrated smart home technology, more luxury inventory means you should have an easier time finding one that matches your taste and lifestyle.

Rising Luxury Home Prices Can Help You Build Wealth

Another important factor to consider is that luxury home prices are on the rise. According to Housing Wire, luxury home prices have increased by 8.7% over the past year.

 

This means buying before prices climb higher – and while more inventory is on the market – may be your sweet spot. Because home prices are rising, owning a home could help you build more generational wealth over time. On the other hand, if you wait to buy, you might end up paying more for the same home later as luxury prices continue to rise.

For up to the minute information about your home and neighborhood, please call me.  I can give you an in-depth analysis about what is happening in your neck of the woods!

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Judy@JudithSutton.com 

COLDWELL BANKER...GUIDING PEOPLE HOME SINCE 1906 

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