“What is value? And who—or what—determines it?” asks Coldwell Banker Previews International® in its 2013 Luxury Market Report. As one of the nation’s leading luxury real estate authorities, Previews examines the concept of value in today’s vast, diverse and global luxury real estate world in the robust 29-page report, released today. Here is a snapshot of what’s inside:
- The Luxtimate: Pricing Homes in the $10 Million+ Market – Recent ultra luxury buyer demand and record-setting sales exceeding $100 million have naturally caused curiosity about how value is determined for ultra luxury estates that defy the traditional notions of comparability. Previews examines the methods behind determining value for these rare properties via interviews with appraisal experts and Previews specialists.
- The Previews Trend Report: Six Communities that Offer Great Value for Luxury HomeBuyers – Whether affluent consumers are purchasing a $10 million waterfront estate or a $1 million mountain retreat, they are not immune to desiring a good value—even if they can afford to live anywhere they want. That is why Previews has selected six communities nationwide in the $1-2 million, $2 million+ and $3 million+ categories that deliver luxury value for their metropolitan area when it comes to pricing, sales data and amenity offerings.
- Domestic Spotlights: Chicago and New York – Previews takes a closer look at what is considered ‘value’ in two U.S. markets: Chicago and New York. Manhattan luxury home sales have continued to make headlines–so it should come as no surprise that the city has continued to see record sales of luxury condos in 2013. Meanwhile, the Chicago area has begun see economic improvement as luxury high-rise development has started to return and the unemployment rate has dropped from 2011.
- International Spotlight: Australia – The luxury real estate market in Australia, and specifically Sydney, is highlighted by several positives: the country has some of the most expensive cities in the world to live in, plus economic growth throughout the country has led to inflation and currency strength. However, Sydney’s “prestige” housing market has seen lower prices and fewer sales than at the peak of the market five years ago. That’s all beginning to change in 2013 as more sellers are meeting the market on price.
- Previews Top Ten Report – Find out which cities and ZIP codes made Previews’ Top Ten list with the most luxury home listings and sales in three distinct price points: $1,000,000+, $5,000,000+ and $10,000,000+.
There is much more to read in the 2013 Luxury Market Report…download it above.