When it was time for RISMedia to release a luxury market forecast for 2014, the industry leading publication turned to the experts at Luxury Portfolio for insight, and as a luxury home specialist in Naples, FL I want to share this news with you.
Non-US residents accounted for 60% of all luxury real estate bought in San Francisco, Los Angeles, Vancouver and Miami and continue to view these markets as a safe investment coming from countries of less economic stability. “The mood of our Luxury Portfolio brokers is upbeat as we move into 2014. They believe that well-priced luxury homes will continue to be in high demand, resulting in increases of 10 to 20 percent in volume in most of their markets, with unit sales rising 5 to 10 percent,” noted Paul Boomsma, President of Luxury Portfolio International.
Here in Naples, the story is much the same. In January, the luxury home market experienced the greatest increase (125%) in sold volume ($91,365,149 to $205,356,510) and is near the 2005/2006 sales pace. On a rolling 12 month basis, the average sales price in January 2014 is up 14.7%, and if you look at January alone, it is up an astonishing 36% higher than January 2013.
Based on the extensive experience and feedback from member-brokers in the luxury sector, RISMedia noted that top markets across the US and Canada witnessed a 10 to 30 percent sales increase in 2013 and expect continued growth in the year to come. In particular, the heavy influx of international buyers in the $1 to $2 million tier has shown no sign of slowing down.
When buying or selling luxury property you can count on me, Frank Petras, for exceptional service. Please call me direct at (239) 595-2221 or visit www.FrankPetras.com.
As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results. I have an unrivaled reputation as a luxury property specialist. I have earned local and national recognition for marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples, Bonita Springs, Estero and the surrounding areas.
Source: FEB 2014 Luxury Portfolio International
Voted Best Real Estate Agent in Client Satisfaction in Southwest Florida - Gulfshore Life Magazine
John R. Woods' Emerald and Platinum Circles of Excellence
Realty Alliance Leading Residential Real Estate Sales Professional in North America
Appointed to Who's Who in Luxury Real Estate
Awarded Million Dollar Guild Recognition by The Institute for Luxury Home Marketing