The Increase of Luxury Home Sales in 2020
Posted by Angela Silvi on
Though summer has come to a close and the holidays are right around the corner, the luxury hou
sing market is holding steady in vacation destinations like Palm Beach, Aspen, the Hamptons, and coastal New Jersey. According to Redfin, luxury home sales jumped 41.5% in the third quarter of 2020, marking the largest year-over-year shift since 2013.
Why the boom? Buyers are thinking about where they see themselves in the new year- even projecting as far ahead as summer 2021. Where would they like to purchase their next vacation home to spend time in after the winter season? Prospective buyers are also searching for things they didn't know they wanted in a home before the current health climate, including more square footage, outdoor amenities like pools and…
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