Summer 2021 Property Gallery
Report Offers Insights on Luxury Market
Summer is here, the housing market is booming and we’re finally on the path to returning to some semblance of normalcy.
Coldwell Banker Global Luxury® recently released this year’s The Report, which offers insights into the 2021 luxury market from a survey of Coldwell Banker Global Luxury property specialists around the world.
While it’s no secret the events of this past year had a big impact on many buyers’ decisions in 2020, The Report found a shift in affluent home-buying trends and lifestyle preferences. Across locations and property types, people were seeking refuge during uncertain times, and that was reflected in their decisions to purchase homes that provided stability and comfort.
The Report found that several top trends emerged in 2020, with family, health, space and security becoming the new luxuries. In addition, more than half of surveyed Luxury Property Specialists named “more square footage” as the new #1 amenity.
Here are are a few other key findings from The Report:
- 2020 was the year of the single-family home.
- Turnkey homes are king.
- Second-home markets soared.
- Most buyers wanted outdoor living spaces, pools, home offices and warmer styles, such as traditional over modern.
Top preferences expected to have staying power over the next five years include: the home office (27.5%), demand for a second home (22.5%) and the desire for single-family detached homes (22.5%).
We hope these insights give you a clearer picture of the luxury market so you are better prepared to make real estate decisions. To view The Report in its entirety, search the title on coldwellbankerluxury.com/blog.
Thank you to all of the sellers whose impressive properties are showcased in our Summer Property Gallery. If you’re planning to buy or sell a home, contact a Coldwell Banker Realty agent today or visit ColdwellBankerHomes.com.
Minnesota and Western Wisconsin
Coldwell Banker Realty
*Based on closed sales volume information from NorthstarMLS for the counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, Washington and Wright, $750,000 and higher, as reported on Feb. 8, 2021 for the period of Jan. 1-Dec. 31, 2020, calculated by multiplying the number of buyer and/or seller sides by sales price. Source data is deemed reliable but not guaranteed. The property information herein is derived from various sources that may include, but not be limited to county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Affiliated real estate agents are independent contractor sales associates, not employees. ©2021 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.