Today’s luxury homeowners and buyers are savvier and more confident than ever according to a study by Better Homes and Gardens Real Estate. Christy and I found the information very interesting and it seems to support what we are seeing in the Jackson Hole Real Estate market today. In 2012 we had a total of 49 transactions over $3,000,000 and as of today we already have 35 transactions with some of our strongest closing months ahead.
The national survey of over 500 luxury home buyers had many interesting findings:
- 75 percent of the luxury home buyers believe home ownership is a more sound investment than the stock market and 57 percent of employed luxury homeowners believe home ownership is a bigger indicator of success than their job or title.
- A majority of luxury homeowners surveyed (53%) prefer owning multiple “lifestyle” homes to support activities like skiing and golf.
- 58% of luxury home buyers already own multiple homes to support their lifestyle activities.
- 60% of luxury buyers surveyed would rather have as many upgrades as they can afford verse larger square footage.
- Nearly all (94%) of luxury home buyers would be willing to give up 1,000 square feet of living space from their next home in order to get a lifestyle amenity they desire, such as — Living in a better neighborhood (54%), living in a house that has “character” (51%), more land (44%), access to dining and entertainment (39%).
- (66%) would rather have a “smart” home verse a “green”” home.
- (87%) would not consider living in a home that is not tech-friendly.
- Three of the top 5 luxury home essentials are outdoor orientated: A garden oasis (53%), outdoor fire pit and or fireplace (50%) and a separate guest house outside of the main home (47%).
Those are some very insightful results. If you are thinking of buying a luxury home or are in the process of remodeling or building one in Jackson Hole these results should be considered.
If you have any interest in learning more about Jackson Hole’s luxury real estate market please feel free to email us at firstname.lastname@example.org or drop us a phone call at 307-413-5243.