Raleigh, N.C. — A viral Fb video clip is giving perception into just how rigorous the demand from customers for housing is in Raleigh – particularly housing beneath $300,000.
The online video, shared by authentic estate agent Monique Edwards with NC Residing Realty, exhibits crowds of people today showing up to tour a property in north Raleigh. A line of cars stretches up and down the community avenue.
Future potential buyers showed up once again Wednesday to check out the household on Lafferty Court, which is outlined for $260,000.
Considerably less than 8.5{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of households stated for sale throughout 16 counties in NC are in the $209K-$288K price assortment, according to details from Triangle MLS.
More than 80 people came to Tuesday night’s open up household, and Edwards captured the spectacle on movie, declaring, “I just want you to acquire a glimpse at all the people today lined up to see this property.”
Edwards suggests the crowd is proof of a ‘housing crisis’ in the Raleigh area. She came to display her shopper this dwelling – only to have a crush of other dwelling seekers and their brokers arrive.
“This is definitely ridiculous,” she claimed. “We have received to get control more than these costs in the housing stock.”
The current market is unbelievably competitive – with 1 examination from Zillow finding that in the past quarter, houses in Raleigh went for 30{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} or additional above list prices. One homeowner told WRAL News that an trader from California ordered a dwelling sight-unseen, viewing no inside images, for 20{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} above the inquiring cost. Some realtors stated they have fielded delivers as superior as $1 million in excess of the listing price in the Raleigh marketplace.
The median cost for a dwelling in Wake County in January was $434,000.
Edwards claimed she shot the online video to teach possible consumers.
Several 1st-time buyers, she claims, are “in disbelief” at the quantity of time it normally takes to find a property they can afford to pay for in Wake County.
“And people are so determined to order a household below a certain selling price place,” she explained.
Jim Ragland, the listing agent for the house in the video clip, stated the massive turnout is proof that lessen-priced households – those below $300,000 – are in “unbelievable demand” in Raleigh.
Thomas Babb of the Triangle MLS says there just are not sufficient homes on the market.
“This is absolutely a seller’s sector,” he said. “I think a great deal of people today are, instead of advertising, they are re-financing to capitalize on the maximize in property values.”
He mentioned he would seriously encourage individuals to provide their properties and get a lot more homes into the stock, so there are additional opportunities for people to acquire.
Area authentic estate agents also say supply chain issues have brought on delays in the design of new houses. They just haven’t stored up with the desire.
Numerous realtors reported, in reaction to the viral video clip, they had been not surprised to see these kinds of a crowd clearly show up to a dwelling listed for under $300,000.
FISHERS, Ind. — A increase in rental houses in Fishers has caught the interest of Mayor Scott Fadness who is worried about the impression of that boost.
Over the last five years, virtually 1 out of 10 properties obtained in the metropolis has been transformed in to a rental home.
“Of that one particular thousand just about 33{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of those people were being bought by entities that had been out of state,” Mayor Fadness stated.
Individuals numbers arrived from a modern analyze commissioned by the metropolis. Fadness mentioned all those companies are primarily based in locations like California, Georgia and New Jersey.
“What’s going on now is Wall Avenue is shifting in purchasing these residences at a rate that most folks can’t compete with and turning it into a rental,” Mayor Fadness reported. “The individuals that go into people homes now and shell out lease will never accomplish the opportunity to deliver or accumulate wealth.”
Fadness’ major fears are around the lack of economical housing this trend could make, as very well as the opportunities it could get away from 1st-time household customers.
“It produces an rigorous battle since folks who may possibly be low to reasonable profits are looking for starter households. To start with-time homebuyers essentially are competing towards financial investment companies,” mentioned Amy Nelson who serves as the govt director of the Honest Housing Middle of Central Indiana.
Nelson stated these substantial firms are capable to out-bid prospective consumers, leaving much less solutions.
“These financial investment firms are coming with all hard cash presents and a usual customer is not likely to be ready to contend with that,” Nelson said.
Nelson explained there has been a deficiency of funding dedicated to reasonably priced housing in Indiana. She’d like to see legislators raise the income circulation toward those people efforts.
“We have the cash to do it. COVID-19 pandemic cash is coming and our state has a really potent surplus,” Nelson claimed. “Why aren’t we utilizing that to ensure that folks have security in housing?”
Legal guidelines handed in new many years by the common assembly have designed it almost unattainable for municipalities to control landlords. Nevertheless, Mayor Fadness explained he’s confident the metropolis can get something completed.
“I still imagine there is another opportunity to operate with our point out legislature and think via what are some opportunity options to this,” Fadness stated.
Nelson inspired men and women to ask their elected associates about housing issues before casting a ballot in this year’s elections.
We did attempt to attain the Central Indiana True Estate Investor’s Association for remark but we’re however ready to hear again.
You can see a total duplicate of the examine below:
For the last 30-plus yrs, countless numbers of folks have traveled to Washington County to get in the hottest in homebuilding and dwelling decoration developments at the once-a-year St. George Spot Parade of Homes.
“The target is to highlight the housing sector and to clearly show the most recent innovation, know-how and residence style,” stated Mari Krashowetz, the government officer of the Southern Utah Household Builders Affiliation (SUHBA).
SUHBA has structured the parade for the last 31 years, and the constantly-well-known party has only developed in recent several years, selling around 40,000 tickets to people today this yr, in accordance to Erik Sorenson, a member of the parade committee who focuses on internet marketing for the celebration. He stated he estimates about two-thirds of parade-goers pay a visit to possibly from out-of-state or northern Utah.
These guests see new improvements in household development, together with all the latest technology, all the biggest in appliances and new creating supplies and all the newest in kitchen and rest room styles.
All that luxurious will come with a price tag nevertheless, and the record price ranges for the 29 properties highlighted for the 2022 parade are greater than ever, mirroring the way the nearby housing market place has accelerated in the latest decades.
The most highly-priced property in this year’s parade is detailed for $6 million, with a townhome detailed at $489,900 position as the the very least costly. Search back again a ten years, and the difference is placing. During the 2012 Parade of Households, the most highly-priced residence was stated for about $1.87 million and the the very least high priced was listed for about $270,000.
The regular listing selling price for a parade residence has jumped 268{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in that time, from $568,200 in 2012 to $2.09 million this 12 months. Ten decades back, the parade featured 28 properties and only 3 were being listed for around $1 million, with 15 priced at considerably less than $489,900, the rate tag for this year’s the very least-high-priced townhome. Of the 29 homes highlighted this year, only five are outlined at a lot less than $1 million.
The value of a parade home is just not automatically the best indicator of the all round genuine estate marketplace, Sorenson explained, but it does show the amplified desire in increased-tier housing alternatives.
“That isn’t going to imply each individual house is pricey in St. George. It basically signifies that there are certain persons that want to get and develop a $6 million household,” he said. “Most people definitely will not.”
However, the increased parade household costs seem to be to mirror what is going on in the relaxation of the sector. And based on the present true estate traits, multi-million dollar households could pop up all over St. George in greater quantities in the extremely in the vicinity of future.
Sorenson said that as the real estate sector increases in price so does the cost of homes featured in the parade and that the steep boosts in prices have happened in the previous two yrs because the pandemic begun. The space noticed a leap in demand for housing considering the fact that the start out of the pandemic as men and women became more keen to make all-hard cash delivers and parts with straightforward accessibility to the outdoor turned popular places.
The own genuine estate sector has risen steadily about the earlier ten years, with the curve turning upward even more rapidly in modern years. At the start out of 2012, the median revenue selling price for a home in Washington County was $149,900. By the stop of 2021, the price rose to $500,000, according to reports from the Utah Association of Realtors.
In the similar time interval, the median household income price tag in neighboring Iron County jumped 434.4{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} from $72,500 at the commence of 2012 to $387,500 at the finish of 2021.
Sorenson suggests he expects the market place for large-rate luxurious homes to develop in the future since property builders are looking at a demand for these residences. But he mentioned that lots of men and women who tour properties in the parade aren’t looking to invest in those properties but instead they are on the lookout at houses for exciting or to get strategies on their own dwelling building initiatives.
“They’re there for thoughts, or for the knowledge, or to glimpse at probably what they can do in their individual property or probably acquire a residence in St. George in the upcoming,” he said.
The 2022 St. George Area Parade of Houses carries on by Feb. 27. For tickets and extra facts, check out www.paradehomes.com.
Spectrum Reporter Elle Cabrera contributed reporting to this story
Sean Hemmersmeier handles area authorities, growth and improvement in Southwestern Utah. Observe on Twitter @seanhemmers34. Our perform relies upon on subscribers so if you want additional coverage on these problems you can subscribe right here: http://www.thespectrum.com/subscribe.
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A consumer pushes a buying cart in direction of the entrance of a Lowe’s retail outlet in Harmony, California, on Tuesday, Feb. 23, 2021.
David Paul Morris | Bloomberg | Getty Images
Lowe’s on Wednesday surpassed quarterly earnings expectations and lifted its forecast for the 12 months, as Americans buy, resolve up and renovate households in a restricted genuine estate industry.
Shares rose much more than 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in premarket trading, as the residence advancement retailer reported momentum carried into February.
Getting old properties, rising genuine estate values and generational tendencies are fueling desire for residence tasks. Us residents — which includes millennials, the country’s major era — have been acquiring homes and upgrading to more substantial ones through the pandemic. That has depleted the supply of obtainable properties and encouraged some to hire contractors to redo a toilet, change a roof or take on other related jobs.
Those dynamics have lifted product sales for Lowe’s and competitor, Residence Depot.
This is what Lowe’s reported for the quarter ended Jan. 28 compared with what Wall Road was expecting, based on a study of analysts by Refinitiv:
Earnings per share: $1.78 vs. $1.71 envisioned
Revenue: $21.34 billion vs. $20.90 billion anticipated
In the fourth quarter, Lowe’s net money rose to $1.21 billion, or $1.78 for every share, from $978 million, or $1.32 for each share, a yr before. The results were being over the $1.71 envisioned by analysts surveyed by Refinitiv.
Revenue climbed to $21.34 billion from $20.31 billion very last yr and outpaced analysts’ anticipations of $20.90 billion.
Lowe’s exact-retail outlet revenue in the U.S. greater 5.1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in the fourth quarter. The organization said product sales from home gurus grew 23{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in the a few-thirty day period time period, as well. The professionals are inclined to be steadier and far more lucrative buyers.
Lowe’s has historically drawn about 20{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} to 25{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of its total product sales from professionals in comparison with Dwelling Depot, which will get about half of its product sales from them. Lowe’s has been chasing pros, however, with a new loyalty method and benefits like reserved parking and free of charge air for tires at its retailers.
Professional sales are expanding for a further motive, far too. As the omicron variant recedes and schedules get busier once more, some men and women are employing contractors instead than using on do-it-yourself initiatives.
The retailer reported it expects earnings for each share to assortment from $13.10 to $13.60 on profits of $97 billion to $99 billion to in fiscal 2022. It experienced beforehand forecast earnings for every share of $12.94 on revenue of $97 billion for the calendar year, which is a 7 days for a longer period than fiscal 2021.
It explained similar-keep gross sales will range from a decline of 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} to an enhance of 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} for the comprehensive year.
As of Tuesday’s near, Lowe’s shares are up 27{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} around the previous 12 months. Shares shut Tuesday at $214.59, bringing Lowe’s sector price to $144.58 billion.
Wouldn’t it be incredible to wake up each morning and sink your toes into sandy, white beaches, look out your window at picture-perfect sunsets, and fall asleep to the sound of waves lapping the shore? For more and more Americans with unlimited (or at least jumbo) bank accounts, this is their life. The overall real estate business may be going through challenges lately, but make no mistake: The high-end luxury market is booming.
During the COVID-19 pandemic, demand for luxury homes in popular vacation areas, particularly along the coasts, has surged. The newfound ability of many of these wealthiest buyers to work remotely, more baby boomers retiring earlier into their forever homes, and cheap mortgages fueled the rush into some of the most naturally beautiful communities across the nation. A fear of the cities coupled with the desire to spend more time outside as COVID-19 raged on also gave these markets a push.
So what are the hottest luxury real estate markets in the country with some of the most extravagant homes? The Realtor.com data team set out to find them. The most expensive 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale nationally had a median $5.5 million price tag in January—and that was up 16.6{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} year over year.
“We’ve seen a lot of demand in vacation and second-home spots—particularly on the coastlines, on the beach, lakes, and in the mountains,” says Frank Nothaft, chief economist at CoreLogic, a real estate data firm. He’s seen many affluent Gen Xers and baby boomers buy up real estate in these areas.
“Those who have been very successful, who kept their jobs, and [who] saw the stock market go through the roof cashed out their gains to use that as their down payments to buy a second home,” adds Nothaft.
Over the past two years, many buyers have sought out larger homes with offices and areas for their children to attend school remotely. These homes often cost more than smaller residences, and buyers found they were more willing to move once they weren’t tethered to a physical office.
“People explored these new areas and found they liked them,” says Jenny Lenz, managing director of Dolly Lenz Real Estate, a luxury real estate firm that does business across the country. “Houses are always preferable to condos, especially after COVID. You don’t have to share an elevator or a gym or anything. … [And] water views are always much more desirable than landlocked homes.”
Rock-bottom mortgage interest rates also helped to make luxury home purchases more appealing.
Worth noting: The concept of luxury real estate is somewhat in the eye of the beholder—and the marketplace. A high-end home in parts of the Southeast or Midwest might barely make it as a starter home in the priciest areas of the coasts.
To come up with its rankings, the Realtor.com data team took a look at the nation’s luxury real estate market in January—as well as some of the most mind-blowing properties for sale. Markets were ranked by the number of unique viewers looking at home listings as well as how long properties were on the market. (The faster homes move, the hotter the market.) Only the most expensive 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes in these markets were considered in this ranking, and only prices for this small fraction of homes were provided in the story. Markets typically include the main city and surrounding towns and cities.
So where are the hottest luxury real estate markets with the most jaw-dropping views this year?
The 10 hottest luxury real estate markets
(Realtor.com)
7505 Makena Rd, Kihei, HI
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $23.9 million*
Luxury starts around $1.6 million for low-rise condos and single-family homes with the price tag going well up from there, says real estate agent Michael Fish, of eXp Realty.
There is oceanfront real estate—and then there is beachfront real estate on the tropical Hawaiian island of Maui. Kahului is considered the industrial hub of the island, home to the main airport as well as some commercial shopping areas. But just south of the small city lies some of the most exquisite real estate anywhere.
The pandemic gave the market a boost with more folks who could suddenly work remotely moving in as well as vacation buyers and retirees. Locals also got in on the action, fearing they would be locked out of the market if they didn’t move fast. Investors also scouted properties to use as vacation and full-time rentals.
The seaside town of Kihei is popular with luxury buyers on a budget, with newly constructed, two-bedroom condos near the beach going for just over $1 million.
Nearby, Wailea is considered a step up—where celebs such as Clint Eastwood and Aerosmith‘s Steven Tyler have purchased homes—and then there is Makena, just south of Wailea, where homes can easily set buyers back $20 million. Amazon’s Jeff Bezos recently purchased a 14-acre estate not far away on Maui’s South Shore for about $78 million last year.
But Fish warns the market is competitive with a lack of homes for sale leading to bidding wars and offers over the asking price.
“If you can work anywhere in the world, why not Maui?” he asks. “The prices are rising, and who knows when it’s going to stop?”
7292 Exotic Garden Dr, Cambria, CA
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $40 million
If money is no object, there is a $40 million gated estate on 78.5 acres in Cambria, CA, on the market that’s fit for royalty. The 12,000-square-foot mansion comes with a guesthouse, apartments for staff, and two event halls. There’s a helipad for easy access, equestrian facilities for horseback riders, and miles of trails for nature lovers. Bonus: The home comes with a 6-acre, pinot noir vineyard.
It’s not hard to figure out why the outdoorsy oasis of San Luis Obispo made the list. San Luis Obispo County, nestled between San Francisco and Los Angeles, boasts roughly 80 miles of beaches, multiple wine regions, plenty of golf courses, and a lively downtown in its eponymously named county seat. Luxury homes in this community founded by the Spanish in the 18th century often have ocean or foothill views.
Buyers with a little less cash to burn can check out this 3,300-square-foot Craftsman with views of the Piedras Blancas Lighthouse on nearly 1.4 acres in Cambria. The five-bedroom, five-bathroom home has two primary suites, double decks, and a guest cottage. It’s listed at $2.9 million.
181 Ocean Beach Trl, Vero Beach, FL
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $6.2 million
In Sebastian, buyers can choose from condos with all of the latest amenities that don’t require them to worry about maintenance. Sebastian may not be a household name, but the area is home to some stunning waterfront real estate. The city, on the eastern coast of Central Florida and across the state from Tampa, is near Vero Beach and Palm Bay.
This soon-to-be constructed five-bedroom, 4.5-bathroom unit in Vero Beach will feature a wraparound terrace, ocean views, private beach access, and a zero-edge pool. In addition, the new owners will be able to access their apartment through an elevator that opens directly into the unit. It’s listed at just under $4.5 million.
Despite a tight housing market, there are also multimillion-dollar, single-family homes with views of the Atlantic Ocean that buyers can compete over. This 8,000-square-foot mansion, listed for about $10 million, has both a pool and ocean access.
47 Brams Point Cir, Hilton Head Island, SC
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $5.5 million
The lack of homes for sale isn’t dissuading wealthy buyers in Hilton Head, an island off the South Carolina coast. If their dream home isn’t available, they’re snapping up older homes in desirable locations and either completely remodeling them or tearing them down to put up new residences, says local real estate broker Wendy Corbitt, of Sea Pines Real Estate at the Beach Club.
Many of the buyers have vacationed in the area and hope to retire there. So they’re buying properties and renting them out when they’re not in town, says Corbitt. However, she’s also seeing many families moving to the area full time as well. Her buyers are primarily from the Northeast, particularly New York, as well as Atlanta and Ohio.
“We had quite an influx of people from cities who wanted to work from home because of the pandemic. They made the decision, ‘Why not go to my vacation home?’” she says. “You can be outside so many months of the year, and there’s lots of stuff to do.”
In-demand communities for those who can afford them include Sea Pines Resort, which skews more toward single-family homes, and Palmetto Dunes, which has single-family homes as well as high-rise condos.
“Other than living on or near the water, neighborhoods that offer high-end amenities like golf, tennis, bike trails, marinas/access to water, clubhouses, fitness centers, garden plots, and security gates are very high in demand,” says local real estate agent Becky Herman, of Charter One Realty.
8204 Bald Eagle Ln, Wilmington, NC
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $3.8 million
Last year was the best year on record for the luxury housing market in the port city of Wilmington, about 90 minutes north of Myrtle Beach. Buyers have been drawn to the area’s beaches, boardwalk, and surplus of family fun.
The Riverwalk, a nearly 2-mile stretch along the Cape Fear River downtown, is popular with locals and visitors who can pop in for dinner at one of the restaurants or check out the art galleries and get in some shopping.
Those heading to the area will find a mix of newly constructed apartment and condo buildings as well as sprawling, single-family homes of all ages.
This grand house on the water is on the market for $4.8 million. The 6,100-square-foot beauty overlooking the Intracoastal Waterway comes with a guest wing with its own bedroom, kitchen, and garage. A bonus for buyers is the private pier and boatlift.
835 Sea View Ave, Barnstable, MA
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $15.9 million
Barnstable, part of the Cape Cod metro area, has long been known as a primo summer playground and popular retirement destination for wealthy Bostonians and New Yorkers who want stately homes on the water. The combination of picturesque villages, scenic lighthouses, and lobster rolls—plus all those white-sand beaches—made the hook-shaped peninsula a particularly attractive destination during the pandemic.
While there are deals to be found in some of the less desirable communities, those who want a seaside oasis should be prepared to pay for it.
The biggest ballers can splurge on this seven-bedroom, 9.5-bathroom mansion spanning more than 15,000 square feet on just over 3.5 acres—with its own private beach on the Nantucket Sound—for $30 million. This listing boasts ocean views in nearly every room, a “resort-style” swimming pool, terrace, and summer kitchen along with a 5,000-bottle wine cellar, golf simulator, and massage room. There’s also a guesthouse and separate house for the staff.
4511 Island Cv, Austin, TX
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $5 million
Not every luxury market offers ocean views. Some have benefited from the overwhelming demand for housing overall.
Before the pandemic, local real estate broker Brad Pauly considered luxury anything above $1 million. Now it’s $2 million-plus as tech and other workers are continuing to move in, he says.
The state capital of Texas, known for its “Keep Austin Weird” slogan, emerged as the real estate darling of the pandemic, drawing big companies like Tesla and seemingly everyone else as well. This resulted in prices skyrocketing as buyers battled for a paltry supply of homes on the market. In January, the median price tag in the metro area was up 28{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} for homes of all price tiers.
“There’s a lot of new Austin residents who can afford luxury property. They’re coming from the coasts and, in a lot of cases, they still see Austin as a deal,” says Pauly, of Pauly Presley Real Estate. That’s partly because there is no income tax in the state.
The neighborhoods the wealthiest buyers are looking in are South Congress, Barton Hills, and the close-in suburb of West Lake Hills. The problem is the lack of homes for sale, which is preventing buyers from being too choosy.
“Have you ever driven around with a buyer who has an unlimited budget and can’t find anything? I have,” says Pauly. “They’re looking for whatever they can get their hands on, and if it’s not what they want, they’ll make it what they want.”
74 Diamond Shore Rd, Portland, ME
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $4.9 million
This coastal Maine city exploded in popularity during the pandemic as more folks who could work remotely relocated. Many were drawn to the city’s bustling, artsy downtown on the water filled with trendy restaurants, breweries, and boutiques. It gave the overall housing market a big boost, and the high-end luxury market went along for the ride.
Prices for the most expensive 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes in the market were up 27{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in January, according to Realtor.com data.
Buyers can choose from fancy condos, including this two-bedroom, two-bathroom unit on the market $2.7 million. The listing promises panoramic views of the water and private roof decks. Building amenities include a dog-washing station, shared Tesla and bikes, a clubroom, and courtyards.
Those seeking a bit more privacy can check out this two-cottage compound on three-quarters of an acre on Great Diamond Island off of Portland. The compound, which the listing notes is “prime for restoration,” is listed at $1.4 million.
2388 E Oakhill Dr, Salt Lake City, UT
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $4.2 million
Over the past few years, tech workers have flocked to the Salt Lake City area, dubbed “Silicon Slopes,” helping the city snag a spot on the Realtor.com list of the hottest markets of 2022. Those highly paid workers plus the uptick in Californians and other remote workers heading to the region attracted to the outdoorsy lifestyle with fewer COVID-19 restrictions than some other states have given the local luxury market a lift.
And there’s more luxury housing on the way. The Astra Tower, which will have nearly 400 units of upscale housing, broke ground last month in downtown Salt Lake City. It will be Utah’s tallest building when it’s completed in 2024.
The communities in high demand from well-heeled buyers include downtown Salt Lake City, around the Mormon Temple, as well as the suburbs of Park City and Holladay.
3350 Bar Circle A Rd, Prescott, AZ
(Realtor.com)
Median list price for top 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes for sale: $5.7 million
Prescott, about two hours north of Phoenix, has a rep as an upscale haven for retirees. It’s particularly popular with Californians seeking forever homes. Multiple publications have named it one of the best places in the nation to retire thanks to its warm weather, a large population of seniors, and an abundance of golf courses.
Luxury buyers want homes where they can comfortably age in place with mountain views of the Thumb Butte and the Prescott National Forest, where outdoorsy individuals can hike or go mountain biking.
“Everybody wants the single-level home with great views and a three-car garage,” says local real estate broker Len McGee, of Coldwell Banker Realty. “They want to be able to drive in their garage and walk-in with their groceries and then go into their master suite.”
Popular, pricey communities include Hassayampa and Talking Rock, two private golf course communities in central and northern Prescott, along with American Ranch, a high-end community with an equestrian center.
* Prices are for the most expensive 1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of homes in each individual market.
