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.

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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.


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.

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 Thanks to Miller Samuel Douglas Elliman Reports in Q4 2021.





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