Скачать или смотреть CBGL's Trend Report 2024 | Luxury Home Trends | Stephanie Susen, Seattle Luxury Real Estate Expert

Coldwell Banker Global Luxury's The Trend Report 2024 is hot off the press! Dive into the trends shaping the luxury real estate market now and in the future:

SHIFTING OUT OF NEUTRAL.
The luxury housing market revved up at the end of 2023 as sales increased by 4.2% for single-family properties and 14.2% for attached properties during the last quarter of 2023 compared to the same quarter in 2022. Trend indicators show a market on track for growth in 2024.

HAVE-IT-ALL PROPERTIES.
A recent Census-wide Coldwell Banker Global Luxury survey found that luxury consumers are most likely to say that location, price, size, home condition and design are most important to them. In other words, they want it all. Four property types – “of the moment” luxury homes, vertical country clubs, branded residences and golf-lifestyle hybrid communities – will likely check all the boxes for selective buyers this year.

THE AI REVOLUTION.
The explosion of generative AI over the last year has potential implications for the future of real estate. The technology could lead to better transaction efficiencies and more personalized search experiences, but some risks and limitations need to be considered.

THE HENRY FACTOR.
HENRYs – “High Earners Not Rich Yet” – are the demographic to watch in 2024. While the overall wealth of U.S. individuals with a $5+ million in net worth dipped slightly after stock market declines, HENRYs saw their population soar to nearly 9 million at a growth rate of nearly 13%. Wealth-X and U.K.-based Barton Consulting forecast that this growth trajectory will continue through 2024.

AMERICA, THE INVESTMENT HAVEN.
Contrary to the news headlines, affluent international buyers have not cooled on American real estate. The number of international buyers purchasing real estate in the top 5% of the market saw an estimated growth of 25% in 2023 compared to 2022, per Wealth-X and Barton Consulting. Expect this to continue in 2024.

SMART HOMES 2.0.
With consumer lifestyles shifting and advancements in AI, the smart home market appears to be on the verge of moving from a market of early adopters to mass adopters.

We are seeing increased consumer optimism in luxury real estate as the fourth quarter of 2023 welcomed fresh energy from luxury homebuyers.

For more information on luxury real estate in the Seattle area, let's connect! Reach out to me today for a complimentary copy of the full CBGL 2024 Luxury Trend Report.

Stephanie Susen, REALTOR
Luxury Property Specialist ®
Your Seattle Area Real Estate Expert
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