Luxury Home Sales Up 25% in June

A lot has changed since 2017. One of the bigger things being luxury real estate sales. Comparing June 2017 and June 2018, sales have gone up 25%. What does that mean for luxury homes for sale in St Helena CA and homes for sale in Rutherford CA? It means they’re flying off the shelves, so to speak.

And it’s not just demand, it’s the exclusivity. High-end buyers in search of new homes actually have to spend more money (about 4.6% more) than they did last year to enter the luxury real estate market. Javier Vivas, Realtor.com director of economic research, states “Continued growth in high-paying jobs and stock market inertia have reignited many luxury markets this year.” Buyer demand for luxury homes is increasing even though prices and costs of ownership have risen.

Right now in most major markets, $1 million will not get buyers a luxury home or at least is the minimum spending amount. 17 of 91 luxury markets are experiencing more than 10% price growth each year. Northern California is home to 4 of 10 fastest-growing luxury markets. Perhaps it’s the tech industry and foreign interests. Perhaps it’s wine country real estate. Interested in viewing the properties? Check out our luxury homes for sale in St Helena CA and homes for sale in Rutherford CA

This is coming at a bizarre time as the industry is seeing some of the highest buying demands and some of the lowest housing availabilities. It’s the push and pull between generational shifts – baby boomers are looking for new homes and millennials are looking for their first homes. The housing shortage means it’s a seller’s market and the luxury industry is managing to boom.

Navigate the Market with St. Helena Real Estate

In the growing search for luxury homes for sale in St Helena CA and luxury homes for sale in Rutherford CA, buyers and sellers need a real estate agent they can trust. Our agents at St. Helena Real Estate are experienced and knowledgeable in the field handling properties of high value for decades. Browse our homes for sale in St Helena CA and homes for sale in Rutherford CA, check out our agents’ profiles, and contact us to learn more about how we can best serve you. Wine country real estate just got more accessible and much less stressful with St. Helena Real Estate.

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