What i's home

2023 - 3 - 11

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Image courtesy of "CNBC"

Luxury home sales plunge 45%, with Miami and the Hamptons hit ... (CNBC)

Tight supply and higher rates are pushing luxury home prices higher. Redfin defines luxury homes as those estimated to be in the top 5% based on the estimated ...

Sales of luxury homes dropped 45% during the three months ended Jan. - Sales of luxury homes dropped 45% during the three months ended Jan. Some of the priciest [California markets](https://www.cnbc.com/2023/01/31/los-angeles-luxury-condos-record-prices.html) also saw big drops in sales because they, too, experienced big pandemic sales. Volatility in financial markets is therefore having an outsized effect on the luxury real estate market. [wealthy buyers](https://www.cnbc.com/2023/03/09/miami-condo-insane-luxury-amenities.html) migrating from the Northeast in the earlier days of the Covid pandemic, saw sales drop nearly 69%. Sales of non-luxury homes were down about 38% during that period.

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Image courtesy of "The Real Deal"

Luxury home sales drop 45% into 2023 (The Real Deal)

New York, Miami and California led luxury home sales' largest annual decline and second lowest level on record, per Redfin data.

High prices are sustained by low supply as elevated mortgage rates deter would-be sellers from putting their homes on the market. That’s only a hair off the all-time high of $1.1 million, set last spring. At the time, that was the largest annual drop ever recorded. Sales volume in the luxury segment dropped, but prices remained high. The median sale price of a luxury home rose 9 percent year over year to $1.09 million. 31, according to

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Image courtesy of "Business Wire"

Luxury-Home Purchases Sink a Record 45% to the Second-Lowest ... (Business Wire)

(NASDAQ: RDFN) — Sales of luxury U.S. homes declined a record 44.6% year over year during the three months ending Jan. 31, 2023, according to a new re.

To learn about housing market trends and download data, visit the [Redfin Data Center](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fdata-center%2F&esheet=53359635&newsitemid=20230310005120&lan=en-US&anchor=Redfin+Data+Center&index=6&md5=affcb7eb3c6210a4c0ccd83e3d9aee6c). [www.redfin.com](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.redfin.com%2F&esheet=53359635&newsitemid=20230310005120&lan=en-US&anchor=www.redfin.com&index=5&md5=e6318970c6984a87db5c7e4fcf5c30c3). Non-luxury homes are defined as those estimated to be in the 35-65th percentile based on market value. New listings of non luxury homes slumped 22.5%, the second biggest drop on record. The number of luxury homes for sale rose 7.1% year over year, the biggest jump since 2015. New listings of luxury homes fell 6.6% year over year. 31, 2023, according to a new [report](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fluxury-home-sales-january-2023&esheet=53359635&newsitemid=20230310005120&lan=en-US&anchor=report&index=1&md5=7db2d31b25cda132dd2aa4019618fed2) from Redfin ( [redfin.com](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.redfin.com%2F&esheet=53359635&newsitemid=20230310005120&lan=en-US&anchor=redfin.com&index=2&md5=ba4c21ff893d7f12459b88a09bb04340)), the technology-powered real estate brokerage. The number of luxury homes for sale was not much higher than the record low hit about a year ago. The housing market has cooled significantly over the last year due to elevated mortgage rates, persistently high home prices, ongoing inflation and a shaky economy. [BUSINESS WIRE](https://www.businesswire.com/))--(NASDAQ: RDFN) — Sales of luxury U.S. These markets also saw outsized surges in luxury sales during the pandemic, so luxury purchases are also likely coming down from unsustainable levels. “Uncertainty is the main factor driving the luxury-market slowdown in Los Angeles,” said Alin Glogovicean, a local Redfin Premier real estate agent.

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Image courtesy of "Mansion Global"

U.S. Luxury Home Sales Take Deepest Plunge in a Decade (Mansion Global)

With the property market having cooled significantly as a result of high mortgage rates, higher home prices and an unsteady economy, many of the country's ...

rose 9% year over year to $1.09 million, not far off of the all-time high of $1.1 million reached in spring 2022. Nationwide, sales of luxury homes—which Redfin defines as those valued in the top 5% of the market—declined a record 44.6% year over year during the three months ending Jan. Luxury home deals across the U.S. “Wealthy house hunters are also frequently offered additional rate discounts from their banks as a perk for storing substantial funds there.” “Luxury purchases are also likely coming down from unsustainable levels.” The online property portal’s data goes back to 2012.

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Image courtesy of "The Guardian"

Dutch courage: a family home in Amsterdam balances the old with ... (The Guardian)

Bringing a beautiful old house into the 21st century was a labour of love for a couple creating their forever home.

“I found it at a specialist dealer and based the colour scheme on the accents in the stone.” [Solid Nature](https://solidnature.com/) for the amazing bar. Upstairs, a herringbone floor in the chill space separates it from the living area, while a slash of exposed brick wall is “so New York loft, I love it,” says Rebecca, who admits it took some persuading to convince Bo it would work. “I had seen something similar in Thailand when on holiday and finally I have my own.” – I got one!” The barstools are from [Décor Amsterdam](https://decoramsterdam.nl/), the retro lampshades are handmade in London by [Beauvamp](https://beauvamp.com/) [BySensa](https://www.bysensakeukens.nl/). “After all, if I get sick of a colour, I can always paint over it.” They wanted it to be low-maintenance and worry-free, so the counter top is composite, a practical option for a home with growing children. But there was much work to be done to elevate the interior into the 21st century, while maintaining its characteristic exterior. They had raised their family here and filled it with wonderful memories. This meant that, in turn, many potential viewers and purchasers dropped out, leaving a window of opportunity for Rebecca, 38, and Bo, 42, which they seized wholeheartedly. Rebecca, a travel blogger and influencer, says: “The elderly couple who were selling the house had lived here forever.

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