Some buyers are saying, “Why spend $80M on one house when I could have $20M-$30M houses in the Hamptons, Aspen and Malibu.”
Three Ultra-Luxury Markets Tell Story of Top-Tier Remote Workers
The “trend” to remote working is no longer a trend. Remote working is now, and likely will be ever more, a reality particularly among top-tier workers.
The three markets highlighted below tell the story of top-tier remote workers…and all three stories are pretty much one in the same. Remote workers like (Prefer? Love? Will never go back?) working remotely and who wouldn’t, particularly when having the option of working and living in the Hamptons, Los Angeles and/or Aspen.
Reminder it’s the New Year. You promised yourself you would become a HARRIS Coaching client. You are done wasting time and want to follow a proven path in 2022. Now, while you are here make the next natural step and join the 1000s of other agents as a HARRIS Real Estate University coaching member. No more waiting or procrastinating. Join now. Here is the quick and simple enrollment.—-> YES, Enroll Me Now In Premier Coaching. I WiLL make 2022 my best year ever!
All three of these markets have been hotbeds of housing activity during this pandemic era. The only thing holding back even more activity was lack of inventory…there simply was nothing else to sell.
Hamptons
According to the Elliman Report: Q4-2021,
- Average sales price and median sales price hit highest level in 15 years
- Listing inventory fell at fastest pace in 15 years
- Months of supply fell at fastest pace in 15 years
- More than one in four closings sold above asking price
- Number of sales at or greater than $5M was second highest on record
- Number of luxury condos available to rent plummeted
Los Angeles
According to the Elliman Report: Q4-2021,
- All price indicators reached new highs
- Closed sales reached the second highest sales totals in over 17 years of tracking
- Listing inventory fell to the lowest level on record at the largest rate on record
- Nearly one out of four sales at or above $5M was a pocket listing
- Nearly four out of 10 sales went to bidding wars for the second highest market share on record
Orange County and Malibu
According to the Elliman Reports in Orange County and Malibu in Q4-2021
- Lux price trend indicators jumped annually to new highs and were at least more than +33% higher than pre-pandemic levels in Orange County
- Listing inventory dropped y/y at three times the rate of sales as chronic low supply restrained sales activity in Orange County
- More than 6 of 10 sales closed above asking price in Orange County
- All Malibu sales price indicators rose annually to the second highest level on record
- Malibu Beach average sales dropped significantly y/y due to lack of inventory.
An important question for you. 2022 is here…have you completed your 2022 Real Estate Business and Lead Generation Plan? If not, no worries. We have done the hard work for you. Download your 2022 REAL ESTATE TREASURE MAP! Text HARRIS to 47372. It’s that simple and takes 3 seconds. Text HARRIS to 47372 and when you do we will instantly text you back with a link to download. BONUS: For a limited time when you text HARRIS to 47372 you will also receive a Coaching Call!
4 Msgs/Month. Reply STOP to cancel, HELP for help. Msg&data rates may apply. Terms & Privacy: slkt.io/JWQt
Thanks to Miller Samuel Douglas Elliman Reports in Q4 2021.
