OCTOBER LUXURY MARKET REPORT
A STATIC MARKET LEADS TO FOCUS ON FUTURE TRENDS

At first glance statistics in the overall North American luxury market show very little change in the demand for properties, number sold, average values and days on market.  However, when digging a little deeper it becomes increasingly clear that money has been shifting gradually into new markets.  Today’s home purchase decisions are based on choosing properties that offer a lifestyle with experiences and amenities.

The report recognizes two significant demographics are having the greatest impact on these trends – millennials and baby boomers.  Why future trends indicate that a sense of “being part of a community” is an important part of their needs.  Whether this is as extreme as cohabiting or the more likely option for the affluent, living in properties that offer common and shared luxury activities, facilities and amenities.

Another trend reviewed is that of “hipsturbia”.  Through the successful regeneration of many downtown cores and the demand to live in these vibrant, safe and social environments, suburbs of major cities are now seeing the opportunity of creating their own versions. These new suburbs are proving very popular, as they offer more affordable property ownership, yet integrate the concept of live, work and play within the community.

Finally the report looks at Landmark Sales in 2019 to discover what the ultra-wealthy are purchasing and if these properties reaffirm the importance of including amenities that address the physical, social and mental/emotional/spiritual dimensions of its residents.

An article from ILHM.

The Institute for Luxury Home Marketing (ILHM) recommends "homeowners looking to sell their luxury home in today’s market" to work "with a realtor who can capitalize on the preferences of current investors."  They also mention - "by carefully focusing on the lifestyle-specific niche your property offers, in line with trends, it can be marketed effectively to connect with the right potential buyers."

I capitalize on that because, as a member of ILHM with my CLHMS (Certified Luxury Home Marketing Specialist) designation, knowing the central Virginia market, and my 38 years in the real estate industry and 20 years as a licensed Realtor, I will capitalize on the preferences of current buyers of all kinds in order to help sell your beautiful one-of-a-kind home.  I have a team behind me to help market your property to sell.

Call me today to schedule a free pre-listing consultation: 434-531-5351.

If you are looking to buy a luxury home in central Virginia, I can help you, too!