High End Real Estate Market: Luxury Home Market Trends
At the end of 2017, the demand for luxury homes was high, even though prices rose 7.4 percent. The luxury market includes the top 5 percent of the most expensive homes sold in the Mooresville and Lake Norman areas of North Carolina. Luxury homes are no longer dependent on square footage but are now based on luxury home interior design ideas and the technology that is incorporated in the home.
Luxury Home Market Trends
Luxury homes have had a higher demand, and while the trend has somewhat leveled out as the markets become more balanced, it could turn to a seller's market at any time. Luxury home builders are still building new developments of luxury homes. Whether you prefer square footage or are more interested in the newest trend that focuses on the technological aspects of the home and luxurious interior design, you will be able to find the perfect home. If what you are looking for is not on the market, home builders are building luxury homes to your specifications.
Luxury real estate trends 2018 include high-quality interior design such as granite counter tops, specific color schemes, top-of-the-line appliances, and specific home designs, such as the Craftsman Style home design. Craftsman style homes are available as bungalows, prairie style homes, mission revival style and four square.
“What makes a luxury home?” Each person's idea of luxury is different. Your idea might be a log cabin, a Craftsman style home, a ranch or even an A-frame with full frontal plate windows. Regardless of the type of home, most people would agree that what is inside makes a luxury home. Italian tile on the floors, all-wood cabinets, the newest technology in appliances and home automation for security, lighting and other features.
NC luxury home trends Charlotte NC include lake views, Craftsman style homes, roomy front porches, brass hardware, oversized showers, stonework on the exterior, raised rooms, unique flooring whether tile or wood, indoor water features, bonus rooms or game rooms and lots of technology.
Additional luxury features include:
The home is in a prime location. Whether you prefer a lake-front view, mountain view or sweeping views of the city, your idea of luxury views is a personal choice.
All of the materials – inside and out – are of premier quality and may include specialty tiles and woods, high-end appliances or even a walk-in refrigerator and freezer.
The home has many luxe amenities such as IMAX movie theaters, an elevator, dumbwaiter, arcade rooms, large pools and even decontamination showers. Some may even consider having a “safe room” stocked with everything you need in the event of a disaster as part of their luxury furnishings.
A high degree of privacy regardless of the size of the lot.
Luxury Home Statistics
Throughout the United States, homes sales of homes that were priced over $1 million increased 15.2 percent from 2016 to 2017. Home sales of homes priced over $5 million increased by 13.7 percent. The time on the market was an average of a mere 75 days. The median luxury home sale price was $1,436,594. In Charlotte, NC, about 1.9 percent of the homes on the market are listed for over $1,291,000.
Builders like Nest Homes are currently building luxury homes to keep up with the high sales of luxury homes. The homes are built in communities so that the value of the home is not affected by someone building a lesser home nearby.