Leave a Message

Thank you for your message. We will be in touch with you shortly.

Explore Our Properties

Luxury Homes Are in High Demand

The Gentry Team June 9, 2022

As people realize their needs are changing, some are turning to luxury housing to find their dream home. Investopedia helps define what pushes a home into this category. In a recent article, they point out that a luxury home isn’t only defined by its price. Location is also an important factor. It could be a condo at a desirable city address, a spacious home on the water, or one with access to luxury activities like arts and entertainment, high-end shopping and dining, and more. The home itself will also boast some of the finest features available.
 
According to the Luxury Market Report from the Institute for Luxury Home Marketingthere’s been a substantial increase in how many buyers are purchasing luxury homes over the past two years. It says:
 
North America recorded the fastest growth of demand during the first year of the pandemic. Also, demand has consistently increased, and even in April 2022, we saw a higher volume of sales compared to 2021.
 
If you own a luxury home, it could be a great time to list your house today while demand is so high. But first, let’s understand where the demand is coming from.
 

What’s Driving the Heightened Buyer Demand for High-End Homes?

The same report says more people have reached a certain net-worth threshold, and that’s contributing to the increased interest in luxury housing:
 
In 2020, we saw a 2.2% growth in the number of individuals with wealth of over $5 million in net value, but in 2021 that number grew by an outstanding 19.8%.
This total increase has resulted in the introduction of over 660,000 new individuals into the high net-worth bracket, which, combined with the existing affluent looking to both diversify and add new properties to their portfolio, provides a true insight into why the demand for luxury properties skyrocketed during 2021 and into 2022.
 
So, if you’re looking to make changes to your real estate portfolio or are looking to sell your current house, it may be a great time to list and benefit from the high demand for luxury homes today.
 

Bottom Line

If you own a luxury home and want to know how strong demand is in your area, let’s connect so you can capitalize on current market conditions while buyer demand for upscale homes is so high.

Work With Real Locals

If working with a team that truly gives back to the community matters to you, we would make a great match. Reach out today to get started on buying or selling your home with a team that knows Moore County inside and out. With decades in the industry and an exceptional team of sales specialists, The Gentry Team has sold more homes than any other real estate firm in Moore County—and more than the total volume of most real estate companies in the region. This level of experience is unmatched, allowing us to help you sell your home for top value while anticipating and handling every detail along the way. We work collaboratively, combining our collective expertise to achieve the very best results for our clients. It is an approach built on trust, teamwork, and proven success. When you work with real locals, you get real results.