Luxury homes come with a hefty price tag. They also suggest a lifestyle typically desired by the affluent homeowner, whether that lifestyle centers around tax advantages, views, exclusivity, or other amenities. Buying and selling high-end luxury properties demands an expertise not found in the average real estate agent. Professionals like Cyndi DePalermo, a top real estate agent in Dickinson, Texas who deals with high-end properties, are held to higher standards; the level of expectation is greater. If you’re searching for high-end real estate companies or an experienced luxury home Realtor, we’ll help you with your search and show you what you should be looking for in an agent. Luxury properties are commonly described as those valued at $2 million to $40 million — and up. That depends, however, on the market. Perhaps a better yardstick is to consider luxury properties to be within the top 10% of the local market. Thus, the price could range from a million to 100 times that. According to DePalermo, luxury properties are “geographically defined.” What is considered high-end luxury on the coast will be different than in the suburbs. “It can be a price point or an amenity.” In southeastern Texas, where she works, waterfront properties command a premium. In other areas, it might be a view. For many rural communities, it’s acreage. It typically takes longer to sell a luxury home than an average home, DePalermo observes. However, while higher interest rates have decelerated the real estate market in many parts of the country, those on the hunt for a luxury property have been largely unaffected by the changing economic conditions. Recent data from the Robb Report indicates that high-end properties in places like Silicon Valley and Seattle are maintaining sales at a fast pace. As of August 2023, the average time a single-family home spent on the market was 46 days. Comparatively, high-end homes in Silicon Valley are selling in 39 days, while luxury homes in Seattle are averaging 43 days on the market. Since the pool of buyers for high-end luxury homes is smaller than for the average home, and days on market (DOM) can be longer, it’s important to find the right agent: someone with experience, connections, knowledge of the area, and the right pricing and marketing strategies. Only a select group of real estate companies qualify to work with the ultra-high-net-worth individuals (classified as individuals with assets of $30 million or more) looking to purchase or sell luxury properties featuring premium materials, upscale amenities, prime location, and unique architecture.What is a luxury home?
