National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Most Desirable Luxury Real Estate “Power Markets”
Coldwell Banker Global Luxury program released The Report, a review of the overall luxury market in 2017 and an outline of the top markets for the most exclusive and expensive real estate in the country, with mention of the cities that top the charts around the globe.
By analyzing the number of sales, median sales-price-to-list-price ratios, median days on market, median sales price, and price per square foot of the top 5% and 10% of America’s luxury markets (“power markets”), the Institute for Luxury Home Marketing identified the leading locales for the lavish.
Here’s a look at the top 5, with their respective median listing price:
- Manhattan, New York – $24.99 million
- Palm Beach, Florida – $16.41 million
- Los Angeles, California (beach cities) – $10.76 million
- Aspen, Colorado – $9.98 million
- Santa Barbara, California – $8.73 million
As far as global real estate goes, a report by Wealth-X outlined the top 5 based on comparative analytics for education, business opportunities and accessibility as the following:
- London
- New York
- Tokyo
- Sydney
- Paris
Furthermore, the report finds that in terms of luxury real estate, size may not matter all that much anymore, as people are prioritizing amenities over square footage. The top amenities include details such as: resort-style pools, eco-friendly features, private gyms, theaters, outdoor living areas, statement wine cellars, custom design and artisanal touches, to name a few.
For comments, questions or concerns, please contact Daniella Soloway
