Apostal Group

Housing market news: Luxury market snapshot Niko Apostal 10/24/14

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Coldwell Banker Previews has published its storied Inside Out report for fall 2014, and it gives an interesting glimpse into the current luxury market. Some of the highlights:

  • Youngest buyers are most likely to make a large purchase. Of the total respondents to the luxury market survey, 48% said they plan to make a large purchase in the next year. But for those respondents under 35, the number jumps to an incredible 81%!
  • The right property trumps the right location. Bucking a previous trend, luxury buyers are more concerned about finding the perfect property for their lifestyle, regardless of the location.
  • The most popular amenities sought by luxury buyers include: a pool, an open floor plan, and a fully-automated and eco-friendly estate.
  • The top five US cities for listings of $5M or more and $10M or more are: New York City; Miami Beach; Greenwich, CT; Aspen, CO; and Malibu, CA.
  • Chicago is the sixth-highest city for number of closed sales of $1M or more.

The luxury market is a robust and dynamic market right now and Chicago has no shortage of luxury properties on the market. Are you interested in seeing what’s available at this price point? We’d love to use our expertise to help you — contact us.

File: luxury market