If you’ve paused your search for Triangle area luxury homes because you haven’t found the perfect match, it might be time to reconsider. Recent data suggest that now is an excellent moment to restart your hunt for luxury homes. Here’s what you need to know.
There Are More Luxury Homes To Choose From
What’s considered the top-end of the market, or a luxury home, will always vary by location. But generally speaking, they’re homes that are valued in the top 5% of any given market. However, a new report from the Institute for Luxury Home Marketing indicates an increase in the availability of these luxury homes (refer to the graph below):
The graph illustrates a significant rise in the availability of single-family luxury homes compared to last year, and even more so than there were last month. This expanding market provides a greater variety of luxury homes in Raleigh and the surrounding areas, each offering unique features and styles.
Whether you’re looking for cutting-edge design elements like state-of-the-art kitchens with chef-grade appliances, stunning views, or advanced smart home technology, the increased inventory of luxury homes means finding the perfect residence to suit your preferences and lifestyle is now easier than ever.
Rising Luxury Home Prices Can Help You Build Wealth
Another factor to consider is the upward trend in luxury home prices. According to HousingWire, the prices of luxury homes have surged by 8.7% over the past year. This is significant because:
People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise . . . They’re ready to buy with more optimism and less apprehension.”
Purchasing a Triangle area luxury home now, while more options are available and before prices escalate further, might just be the ideal opportunity. As luxury home prices rise, owning one can contribute to building substantial generational wealth. Conversely, waiting could mean paying more later as prices continue to climb.
Bottom Line
With an increasing inventory and climbing prices, there’s a wider selection of luxury homes in the Triangle area available, presenting a valuable opportunity. Interested in exploring the luxury homes available in our area? Contact Linda Craft Team Realtors today.