Cogent Real Estate Equities
  • Home
  • Commercial
  • Residential
  • Joint Ventures
  • Blog
    • Blog Archive: 2020
  • About
  • Contact
  • Home
  • Commercial
  • Residential
  • Joint Ventures
  • Blog
    • Blog Archive: 2020
  • About
  • Contact

The Luxury Market Is Attracting Buyers in 2021

2/10/2021

0 Comments

 
Picture: Luxurious kitchen with white cabinets and black granite countertops with large island
As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

“In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.”

​With more opportunities to work from home and a growing interest in having extra space for things like virtual school, working out, and cooking more meals, the desire to own a home that can meet these needs continues to increase. Additionally, record-low mortgage rates are creating opportunities for homebuyers to stretch their legs into higher price points or even expand their real estate portfolios. The ILHM report continues to say:

“Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over.

For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future.”

If you’re interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points. Javier Vivas, Director of Economic Research at realtor.com, notes:

“Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.”

Bottom Line

If you’re hoping to buy the home of your dreams, this could be the year to achieve that goal. Let’s connect today to explore your possibilities.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Cogent Real Estate Equities, LLC does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Cogent Real Estate Equities, LLC will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

<< Previous (02/09/21)
Next (02/15/21) >>

Blog Categories

All
Buying
Homeownership
Home Values
Infographic
Interest Rates
Rent Vs. Buy
Selling

0 Comments



Leave a Reply.

    Author

    Write something about yourself. No need to be fancy, just an overview.

    Archives

    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020

    Categories

    All
    Buying
    Homeownership
    Home Values
    Infographic
    Interest Rates
    Rent Vs. Buy
    Selling

    RSS Feed

Services

Commercial
Residential
​Joint Ventures

Company

Blog
About
Contact
3290 N. Ridge Rd., Ste. 150, Ellicott City, MD 21043
443.6.COGENT // info@cogent-equities.com
​ www.cogent-equities.com
Realtor  Equal Opportunity Housing
broker: 443.574.1600
Each office is independently owned and operated.
​
Picture
©2021 COGENT REAL ESTATE EQUITIES, LLC.. ALL RIGHTS RESERVED.