Luxury Homes Are in High Demand

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, “. . . North America recorded the fastest growth of demand during the first year of the pandemic. Also, demand has . . . consistently increased, and even in April 2022, we saw a higher volume of sales compared to 2021.” 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.

If you own a luxury home and want to know how strong demand is in your area, DM me so you can capitalize on current market conditions while buyer demand for upscale homes is so high.

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