Luxury Homes Priced to Sell at $30 million

A recent story in the Wall Street Journal has some very interesting news about sales of luxury homes. Data from Realtor.com says luxury homes are selling at a faster rate than they were selling last year at this time. But that’s not the entire story.
Homes listed at more than $30 million are actually spending less time on the market. Right now, across all home prices nationwide, it takes about 82 days for a listing to be sold. Here’s the really interesting part: homes priced just under $30 million are taking about 180 days to sell while homes listed at $30 million and above stay on the market for only 139 days. In some areas like Colorado and Connecticut, luxury homes are selling in less than a month.
Why is this happening? Experts say the answer could be based on the fact that homes priced at $30 million and above are usually marketed quietly before hitting the MLS to a group of highly engaged homebuyers. Not only are these luxury homes selling quickly today, but also the sale prices per square foot are off the charts.
One of my luxury listings in Montecito was recently sold before I could even get the listing on my site, let alone in the MLS. I am here to help sell luxury homes in record time in Montecito, Hope Ranch or any of Santa Barbara’s upscale communities. Just call me at 805.886.9378 or email me at Cristal@montecito-estate.com. I am also here to help homebuyers find the property of their dreams. Please LIKE me on Facebook and follow me on Twitter!