Top 5 Leading Luxury Real Estate Trends
With the conditions of the market ever changing, It is crucial to understand luxury real estate trends before making a purchase to make the most informed decision. These trends tell you what is practical and what you should watch out for in specific markets. At The Cliffs, we want you to be fully aware of the benefits and advantages of purchasing a home so that moving into one of our seven communities is as smooth as possible for you.
Continue reading to discover the top five leading luxury real estate trends and how to use them to increase your assets and jumpstart your home-buying process.
What is Considered Luxury Real Estate?
When it comes to deciding on what is considered a luxury property, it seems that seven figures for a single-family home are a generally accepted figure for what’s luxurious in the U.S. Luxury, however, can vary from person to person. As with art, defining your own sense of luxury involves examining other factors besides price points that make an estate unique. In your specific market, it really depends on average sales prices. Home prices reflect a number of features and could represent a different definition of luxury depending on the buyer’s preference.
Top 5 Luxury Real Estate Trends for 2023
Having discussed what the luxury real estate market is, let’s now look at how these factors impact the upcoming luxury real estate trends.
1. Workforce Transformation
Due to the Covid pandemic and recent labor force transformation, the market has undergone a significant shift. This is a good indication of what luxury real estate trends will look like in 2023. and take on more entrepreneurial roles with higher salaries, luxury real estate investment could rise.
As more people work from home, when looking at properties, buyers are more likely to look for those that offer luxury features and extra office space for the optimal work space at home. However, with people also returning to work, your home will become an escape from work, incorporating leisure activities, peace, and tranquility into your home.
With communities like The Cliffs, you can indulge in your luxury mountain home dreams with countless amenities at your fingertips. Explore our offerings across all seven communities by clicking here.
2. Moves Toward Sustainability
A constant movement toward sustainability is happening worldwide. This includes many technological advancements that promote green living and facilitate consumer use. In luxury homes, you’ll have access to numerous technological features not found in standard homes, with open, sound floor plans.
A trend toward green buildings and environmentally friendly developments is interconnected with technological advancements and has recently gained popularity among luxury home buyers. Smarthome features such as air purifiers, lighting, thermostats, greenhouse monitoring systems, humidity sensors, and many other devices can help make your house more environmentally friendly.
Mountain and lakefront homes at The Cliffs are often designed around the natural landscape. Using natural elements, such as sunlight and terrain,, helps to build sustainable homes that aim to reduce their carbon footprint. Over time, they home use less energy and heat, making them an eco-friendly luxury home option.
3. Emergence of “Magnet” Markets
“Magnet” markets, also known as hot markets, are taking luxury real estate trends by storm. In a hot market, there is low inventory and plenty of buyers searching for the perfect place. Often, a hot market means a faster sale at or above the asking price.
The luxury market can be particularly affected by this.In fact, the luxury real estate market is booming in the southern region. Charlotte, NC is a short drive from The Cliffs at Walnut Cove and Asheville. This urban hub was rated number 13 best places to live in 2020 due to its popularity and ability to attract new buyers.
4. Re-envisioning Capital
Many investors have been re-envisioning their capital. This means that there’s less investor hesitancy, leading to a greater chance of closing for buyers, more risk-taking, and a higher likelihood at building your assets.
Not only can you revamp your portfolio with one home, but many are considering buying a second home. A second home can give you more travel options as far as having a vacation or seasonal home.
At The Cliffs, we offer a wide range of luxury mountain homes. Read our blog to learn more about investing in your second home and expanding your portfolio.
5. Focus on Quality of Life
Designing a home involves creating a personal space that embodies the buyer’s tastes and personality. Home buyers worldwide are mesmerized by the distinctive design of luxury homes in exclusive gated communities.
A significant demand has been reported for luxury accommodations that offer stunning interiors and cutting-edge facilities. As a result of these amenities and features, the quality of life is improved. Luxury real estate has been focusing heavily on that.
Jumpstart Your Real Estate Portfolio at The Cliffs
Considering all the luxury real estate trends, purchasing a home is a wise investment. A house at The Cliffs is the perfect addition to any portfolio, providing some of the most unique and luxurious homes on the market. You’ll be adding value to your assets and also be able to enjoy your stunning lakeside or picturesque mountain home to the fullest.
Members of The Cliffs can enjoy various luxurious amenities, including golf and active club memberships. These membership options allow you to play golf throughout all of The Cliffs communities and enjoy a plethora of wellness activities ranging from racquet sports courts to state-of-the-art fitness centers.
Explore our online catalog to browse breathtaking mountain and lakefront homes in the Blue Ridge Mountains. Feel free to contact our Real Estate Sales Team if you have any questions about any of our seven communities to begin building your portfolio. It would be our pleasure to guide you through the process and help you find the perfect mountain retreat!