Luxury real estate is at the apex of the homeownership experience. All around the world, luxury homes are coveted, not only for their superior structures, but also for the lifestyle they provide to their occupants. In places like Sebastopol, Ca the luxury home market is a contrast, yet beautifully interwoven into the charm of this Northern California paradise. The atmosphere of this place, and the lifestyle it provides, can go hand-in-hand with the home of your dreams.
In luxury real estate, the sale price defines the term. Ranging from $1 million (in certain locations) to the upper limit of home value possibilities, luxury means different things in different places. On average (globally), luxury real estate is values at around $2.2 million. This average incorporates ranges in price that are as diverse as the styles, locations, and amenities they afford.
Here, we offer fresh perspectives on how macroeconomic factors are impacting luxury home prices, inventory, and sales globally. This year (defined as 11/15 – 11/16) in Sebastopol, there were 79 luxury homes for sale and eight of those homes sold in that same time frame. Sebastopol is seeing growth in this sector of real estate. In the first quarter of 2015 (September to November of 2015), there were 18 luxury homes for sale and one home sold in that same period. Although price per square foot and overall home price has seen a slight decrease during those same months the number of luxury homes for sale and sold homes increased over the year. In the first quarter of 2016, there were 25 homes for sale and three sold. Luxury home inventory and sales grew from 2015 to 1016 by 40% and 200%, respectively. Another important statistic to note which speaks to desirable location and lifestyle, is the number of days homes are on the market. Luxury homes were on the market for a total of 218 days in the first quarter of 2015, and decreased by 23% to 168 days.
In Sebastopol, luxury real estate has changes in the last year. Some demographics of success have increased, while others have waned. The last year say over 70 listings of luxury real estate and 8 sales of luxury properties. This means that luxury home inventory and sales grew from 2015 to 1016 by 40% and 200%, respectively.
The trends seen in Sebastopol, are not uncommon. Home inventory is indirectly proportional to the price of the homes in the area. Still, luxury homes are very desirable and the need for these properties is on the rise in the area, as seen in the general market trends. The luxury home market in Sebastopol is because its richness in property and lifestyle.
See yourself lounging pool-side in your own Northern California luxury property? Give us a call and see which properties will help your dreams be realized.