Struggling luxury realtors take note “luxury homes” are a hot ticket item. Advertising is not going to solve your problems and attract a database of ultra rich buyers. That was the way to sell real estate in the 90’s and today it takes more marketing savvy skills. However, if you master these simple rules for becoming an expert in location destination you could sell tons more luxury homes in a fast amount of time.
House hunters in San Jose, Calif., better think fast. That “perfect place” may be gone in a flash.
Selling Luxury Homes Fast
Real-estate website Trulia examined the priciest 2% of homes in 100 metro areas listed for sale on Feb. 5, then checked back roughly 60 days later to see what percentage was still on the market. Homes moved most briskly in San Jose, where 59% of for-sale homes were still listed—followed by Oakland and Detroit.
The slowest-moving markets were Lake County-Kenosha County, Wis.—where 90% of listings lingered—followed by Madison, Wis., and Knoxville, Tenn.
photo credit sfnewdevelopments.com
More houses and condos in San Francisco sold for above $2 million last month than in any other month in San Francisco’s history, according to the latest San Francisco Luxury Home Market report from Paragon Real Estate. There were 89 sales of $2 million and up in March, a big increase over the 42 that occurred in March 2014. The figure was also well above any recorded prior to 2007, in pre-housing crash times. Ninety-three percent of homes that sold above $2 million did so without taking a price cut, and those that sold without a price cut did so in an average of 25 days and at 107 percent of their original list price.
Prices of luxury homes were highest per square foot in the district that includes South Beach, Yerba Buena, Mission Bay, and SoMa. Russian, Telegraph and Nob hills were all close behind, followed by Pacific Heights and the Marina. In all of those areas prices easily topped $1,100 per square, and in the area around South Beach and SoMa prices per square were at $1,602. However, overall prices were highest for houses in Pacific and Presidio Heights, where the median sale price was a massive $4.99 million and well above its closest competitor, Sea Cliff, where houses sold for a median price of $3.5 million.