A luxury real estate broker shares his take on the market, what he’s seeing in his neck of the woods, plus how he’s pivoting his focus to get more sellers.
Luxury homes have experienced a sustained level of sales, as affluent, primarily urban-dwelling consumers, able to now work remotely, decided to either move or find new, co-primary single-family homes in suburbs and resort-community settings.
They are seeking homes that offer live-work spaces, gyms, larger kitchens and outdoor play and entertainment spaces with recreational opportunities from the front door.
In addition to the lifestyle benefits, they see these investments as a diversification of their financial portfolios from the frothy stock market. They also embrace the opportunity to move from high-income tax states to lower ones, generating substantial income tax savings.
Although they buy in…