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ULTRA LUXURY MARKET ROARING BACK

Posted by Kenneth Lowman on April 21, 2013
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Nationwide it appears the ultra luxury home market is roaring back!  Just a few of the notable recent listings are Matt Damon’s Miami Beach home on the market for $20 Million, a Santa Monica luxury home with a secret bar for sale at $29.95 Million, Suzanne Somer’s Palm Spring luxury home complete with amphitheater listed at $14.5 Million, a Denver luxury home for sale at $15 Million, a Laguna Beach luxury home at $8.75 Million, a Henderson, Nevada luxury home listed by myself at $10.95 Million and another Luxury Homes of Las Vegas showcase listing in The Ridges at Summerlin, Las Vegas at a reasonable $3.8 Million.  What’s fueling the frenzy of listings?  I believe that many of the wealthy simply kept their trophy luxury properties off the market in bad times.  Now that the stock market is creating a new wealth affect and economic times are returning to at least normal, more affluent buyers are dipping their toes back into the waters.  The savy buyer may also be hedging against potential inflation.  It’s encouraging to see the renewed activity!

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