Nationwide, the housing market picks up in spring and summer. This is because families with children want to move before school starts again. Homes buyers often narrow their search based on price parameters. If you list your home outside their budget, they may never see it.
A real estate agent can help you set the right listing price.
High-End Residential Real Estate
Luxury homes aren’t just about high-end amenities. They’re also about location, and the hottest properties can be found in the most desirable areas of town. This includes mountaintops, beachfronts, and dazzling city overlooks. The coveted locations are usually the most expensive and challenging to build, so they have the highest potential for long-term value.
However, it’s important to note that these neighborhoods can change over time. When a new development blocks a view that was once a selling point, the value of a home could fall. Buyers need to know the area they’re considering buying in and keep an eye on changing neighborhood trends.
The luxury real estate market is a highly volatile one. The stock market and the economic climate can influence it. When the needs are up, luxury home sales typically rise because of increased consumer confidence. However, luxury home prices are likelier to drop when the stock market plummets.
If you’re looking for a luxury home, it might be wise to consult with an expert. A good luxury real estate agency can help you find the right property and negotiate a fair price. Compass is a great example of an excellent luxury real estate company that offers a concierge program to help its clients buy and sell homes for the best possible price. They also focus on building long-lasting relationships with their clients for continued success.
Technology
Technology has played an enormous role in real estate marketing, becoming the most popular way consumers find Woodstock, GA homes for sale. It has overtaken local newspapers as the most essential information source for homebuyers. Digital tools also make it easier to handle paperwork for homebuyers and sellers. For example, buying companies take the hassle out of selling your house by purchasing and processing it for you. Curves are rising in interior and exterior design trends, softening hard lines that can dominate modern architecture.
Amenities
One of the biggest trends changing the market is the addition of amenities. Amenities refer to facilities in an apartment complex, like swimming pools, gyms, tennis courts, etc. At the same time, services are additional offerings or assistance that a property’s management or staff may provide for an extra fee.
Regarding apartment amenities, residents are primarily interested in wellness-focused features, innovative technology, pet-friendly facilities, and sustainability initiatives. This is a result of the pandemic, which has changed how people live and work, leading them to want more from their living experience than just a fitness center, clubhouse, and pool.
The latest research from StreetEasy suggests buyers are willing to pay more for a listing with specific amenities. For example, since the pandemic, listings with a children’s playroom in the building have been associated with a higher premium than similar listings that don’t offer a playground. Other popular amenities include in-unit laundry, doorkeepers, and dishwashers.
The best multifamily amenities are those that meet the needs of current and future residents. This means a property’s amenities must constantly evolve based on societal and technological advancements.
Millennials
Some have called millennials the avocado toast generation, but they are now entering the homeownership phase of life and making waves in the real estate market. They are pushing demand for single-family homes and spurring growth in the suburbs. This demographic is also fueling searches for new construction properties.
As a result, mortgage rates have increased, and the number of homes for sale has dropped since 2021. But the NAR expects mortgage rates to peak in 2023, bringing homebuying activity up again.
One reason for this slowdown is millennials moving out of large cities to live in the suburbs, which offer more affordable housing. Some do so out of necessity, but others choose to move because they want a suburban lifestyle with amenities with a big city feel, such as multifamily housing options, public transportation, high walkability scores, and restaurants.
Many millennials also seek outdoor living spaces with features like pizza ovens, fire pits, and fountains. Whether they want to entertain or relax, these outdoor areas add value to a property and increase its appeal to buyers. Homebuyers also want energy-efficient appliances and sustainable materials that help reduce their carbon footprint. And with an aging population, they’re looking for accessible design features, such as curbless showers, grab bars in the bathroom, no-slip flooring, and wider doors and hallways.
