With more millionaires and billionaires in the world than ever before, pent-up demand and increasing consumer confidence, luxury real estate sales have been surging around the world. Luxury properties are once again one of the hottest real estate market trends, as London, New York and Los Angeles report a burgeoning luxury housing market. According to Spectrem’s Millionaire Corner Affluent Market Insights report for 2014, the number of Millionaire households in the U.S. has reached a record of over 9 million. There are 132,000 households with a net worth over $25 million.
Christies International Real Estate released its second annual Luxury Residential Property Market report, looking at the market in 10 of the world’s major markets – Cote d’Azur, Hong Kong, London, Los Angeles, Miami, New York, Paris, San Francisco, Sydney and Toronto. Those markets were compared against each other in terms of sales price, prices per square foot, percentage of non-local and international buyers, and the number of luxury listings per population.
London was rated No. 1 based on its top sale of a property for $101.5 million, and it also had the top per square foot sales average of $4,683. New York and Los Angeles were second and third, respectively, with a significant growth in luxury sales volume. Here in Los Angeles, the mega mansion Fleur de Lys just sold for more than any other house in Los Angeles County ever: $102 million. In an all-cash sale
West Hollywood real estate market update gives insight to the supply and demand, How as the distressed property slow down effecting market price. Has the price increases and positive effect of negative equity made an impact on West Hollywood real estate market. This housing market minute answers your question, How is the 90048 real estate market? Beverly Grove weekly market update for the 90048 zip code. Get the market knowledge you need to make the
What are my Top 5 Tips for First Time Home Sellers?
1. Remember that the outside is just as important and in some ways more important than the inside. The outside is the first impression and sets the tone for the property tour inside.
2. Be prepared to spend some money on repairs. You will be expected to address some items needing repairs. In some cases, a little money can go a long way.
Fueling this seller’s market are several factors that have unexpectedly converged: For-sale listings are limited, which is pushing prices up at the same time that mortgage rates are rising. That’s created a sense of urgency among buyers, many of whom fear that the door to affordable real estate in their market may be closing.Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? Can
West Hollywood real estate market update gives insight to the home sales figures, deep dive into the why sales are down. Inventory is down, and there are many cash buyers, including international and foreign buyers. This housing market minute answers your question, How is the 90048 real estate market? Beverly Grove weekly market update for the 90048 zip code. Market insight is the essential ingredient in all of the services we offer. We monitor trends