Pezzini Luxury Homes

• luxury real estate market •

The Luxury Real Estate Market is Becoming More Attractive in 2021

what is the stae of the luxury real estate market?

The luxury real estate market is back, but did it ever go away? The pandemic put a damper on things but in Beverly Hills and the surrounding areas, the luxury real estate market is always present. 

As more and more people are continuing to see a change in their daily lifestyle needs and how their home works for them in this new lifestyle since the pandemic, more and more people are looking to the luxury real estate market with a new eye. Right now people want more space and higher quality features so they can be comfortable and enjoy spending long periods of time at home.

The Institute for Luxury Home Marketing (ILHM) recently put together a Luxury Real Estate Market Report, in that report, they stated the luxury market in 2020 saw its strongest year since 2008.

The Luxury Real Estate Market is Becoming More Attractive in 2021

There are many more opportunities to work from home and a large number of students still in virtual learning or hybrid learning programs where they are home part of the week. This has led more people to be at home for most of their time instead of out of the house for most of the day.

This combined with gyms being closed or at limited capacity causing people to turn toward at-home workout routines, cooking more meals at home, and finding hobbies to do from home is causing people to look at and desire homes that offer more space and rooms that allow for dedicated areas to do these things. The current shockingly low mortgage interest rates are also lending a hand in potential buyers being able to afford more home than before the pandemic.

The ILHM has also reported that luxury housing experts are expecting the demand for high-end homes to increase throughout 2021. They see the work-from-home opportunities continuing to stay the same even as more businesses begin to open back up and more vaccines become available. This means a switch in primary residence focus for buyers of luxury homes. Fewer and fewer buyers are interested in staying in smaller multi-family complexes.

Though the number of homes for sale is lower than typical the luxury real estate market has the best available inventory for interested buyers. This is great news for anyone hoping to purchase a luxury home, though it is still a sellers’ market in many areas around the country. There are also a large number of people looking to lease luxury properties as well.

If you are considering but reluctant to purchase a luxury real estate right now there are some great luxury home lease options in the Hollywood Hills area. Leasing a luxury home gives a reserved and careful buyer the opportunity to live in a home without purchasing the home first. It allows you to decide if moving to a larger home really is right for you and if the specific location is one that you will love. This is made possible through a lease that has the option to buy at the end or the option to move on to another property.

For luxury homeowners, a luxury lease is a beneficial way to cover the expenses of the home while you are living somewhere else instead of the home sitting empty while it is on the market. It gives interested buyers who are unsure of making a large investment an opportunity to fall in love with your home.

For more information on the luxury real estate market and availability in luxury homes for sale or homes for lease in Hollywood Hills and luxury property lease management please contact me anytime.

Tips in the Luxury Real Estate Market

Share

The Luxury Real Estate Market is Becoming More Attractive in 2021

The Luxury Real Estate Market is Becoming More Attractive in 2021 As more and more people are continuing to see a change in their daily lifestyle needs and how their home works for them in this new lifestyle since the pandemic, more and more people are looking to the luxury home market. Right now people want more space and higher quality features so they can be comfortable and enjoy spending long periods of time at home. The Institute for Luxury Home Marketing (ILHM) recently put together a Luxury Market Report, in that report, they stated the luxury market in 2020 saw its strongest year since 2008.

The Luxury Real Estate Market is Becoming More Attractive to Buyers in 2021

There are many more opportunities to work from home and a large number of students still in virtual learning or hybrid learning programs where they are home part of the week. This has led more people to be at home for most of their time instead of out of the house for most of the day. This combined with gyms being closed or at limited capacity causing people to turn toward at-home workout routines, cooking more meals at home, and finding hobbies to do from home is causing people to look at and desire homes that offer more space and rooms that allow for dedicated areas to do these things. The current shockingly low mortgage interest rates are also lending a hand in potential buyers being able to afford more home than before the pandemic. The ILHM has also reported that luxury housing experts are expecting the demand for high-end homes to increase throughout 2021. They see the work-from-home opportunities continuing to stay the same even as more businesses begin to open back up and more vaccines become available. This means a switch in primary residence focus for buyers of luxury homes. Fewer and fewer buyers are interested in staying in smaller multi-family complexes. Though the number of homes for sale is lower than typical the luxury housing market has the best available inventory for interested buyers. This is great news for anyone hoping to purchase a luxury home, though it is still a sellers’ market in many areas around the country. There are also a large number of people looking to lease luxury properties as well. If you are considering but reluctant to purchase a luxury home there are some great luxury home lease options in the Hollywood Hills area. Leasing a luxury home gives a reserved and careful buyer the opportunity to live in a home without purchasing the home first. It allows you to decide if moving to a larger home really is right for you and if the specific location is one that you will love. This is made possible through a lease that has the option to buy at the end or the option to move on to another property. For luxury homeowners, a luxury lease is a beneficial way to cover the expenses of the home while you are living somewhere else instead of the home sitting empty while it is on the market. It gives interested buyers who are unsure of making a large investment an opportunity to fall in love with your home. For more information on available luxury homes for sale or homes for lease in Hollywood Hills and luxury property lease management please contact me anytime. [gravityform id=”2″ title=”true” description=”true”]

More Advice for Property Owners

License # 01357520 Corp #02108068

License # 01357520 Corp #02108068

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. (“CRMLS”) and is protected by all applicable copyright laws. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from CARETS as of 8/26/22 9:27 AM PDT. The information being provided by CRMLS & CARETS is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.