Luxury Homes Sales Continue to Gain Momentum

Fifty of the area’s top real estate professionals convened at a 7,000 square foot Georgian mansion in Dobbs Ferry last month to hear Coldwell Banker Residential Brokerage experts Nancy MacDonald (regional senior vice president) and Lucille Filous (Previews International luxury home marketing manager) speak about the state of the high-end real estate market.

According to MacDonald, “The luxury market is active.

In the first six months of 2007 more sales have occurred, with fewer days on the market, in the $2.5 million-plus range compared to the first six months of 2006.” She also reported that many high-end properties that are priced appropriately are receiving multiple offers.

The brick colonial where the luncheon was held is currently listed for $4.495 million and is equipped with all the amenities of a luxury home. Set amid the rolling lawns of Ardsley Park, it has a heated pool, golf course views, a wine cellar and tasting room, exercise room and game room. Meticulously restored to its original grandeur, the home offers 18 rooms, nine bedrooms, five bathrooms, four enclosed sun porches, and five fireplaces.

This home’s amenities appeal to a growing segment of buyers seeking a voluntary lifestyle change, as opposed to those shopping for a new home due to a life event such as company relocation. This segment of the market is often looking for golf course views, swimming pools, tennis courts or access to the beach, as the residence will serve as a second home getaway or retreat.

Filous reported that “40 percent of luxury homeowners are considering purchasing a second home for family use in the next year.” This news confirms that the luxury home market has been virtually untouched by the recent shifts in the real estate industry due in part to the confidence of affluent buyers. In fact, a recent Coldwell Banker Previews International Luxury Survey reported that a full 56% of survey respondents expect the value of their home to increase at least somewhat, and 10% expect it to increase significantly, during the next 12 months. If you are looking for luxury homes for sale, visit the site to see a wide array of residential homes for sale.

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About the Author: Sarah Hunkins