Luxury Market Attracting Buyers
Luxury Market Attracting Buyers in 2021
Is the luxury market attracting buyers? As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:
“In a snapshot of 2020, despite the devastating effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.”
With more opportunities to work from home and a growing interest in having extra space for things like virtual school, working out, and cooking more meals, the desire to own a home that can meet these needs continues to increase. Additionally, record-low mortgage rates are creating opportunities for homebuyers to stretch their legs into higher price points or even expand their real estate portfolios. The ILHM report continues to say:
“Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over.
For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future.”
If you’re interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points. Javier Vivas, Director of Economic Research at realtor.com, notes:
“Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.”
So if you’re hoping to buy the home of your dreams, this could be the year to achieve that goal. Let’s connect today to explore your possibilities.
Begin Your Own Search for a Naples Vacation Home or Second Home:
So, if you’re ready to begin your search for your dream home or condo in Southwest Florida, we encourage you to explore our website to find information about communities in the area. If golf is your game, we specialize in golf community real estate.
There are more than 150 different golf communities in our area and most of them have a private golf course within the community. It can be challenging to navigate the plethora of communities, membership options, golf course design, amenities and more. We will help provide you with a list of the top private golf communities which match your lifestyle.
Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost for you to have an agent represent you. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.
Lastly, we will handle all contract negotiations via paperless transactions for your property from offer to close!
If you want to build wealth through a real estate investment in Naples, Bonita Springs, Estero or Fort Myers, and you want a realtor who will help you achieve your Real Estate needs, please reach out to us directly. Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, a luxury home, vacation home, second home, golf home or dream home, call or text 239-370-0892 or email Matt@NaplesGolfGuy.com
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February 10th, 2021 Posted by NaplesGolfGuy