If you’ve been hunting for a luxury home but haven’t found “the one,” you might have put your search on pause. But guess what? Now could be the perfect time to get back in the game. Here’s why.

More Luxury Homes Are Available

What’s considered a luxury home varies by location, but generally, we’re talking about homes in the top 5% of the market. According to the latest report from the Institute for Luxury Home Marketing, the number of luxury homes is on the rise (check out the graph below):

As the graph shows, there are way more single-family luxury homes on the market now compared to a year ago. In fact, there are even more than there were just last month. This means you’ll have a bigger pool of top-tier homes to pick from, each with its own unique features and styles.

Whether you’re after the latest design trends like modern kitchens with chef-grade appliances, stunning views, or smart home tech, the increased inventory means you’re more likely to find something that fits your taste and lifestyle perfectly.

Rising Prices Can Boost Your Wealth

Another big factor to think about is that luxury home prices are going up. According to HousingWire, luxury home prices have jumped by 8.7% over the past year. That’s why:

“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.”

So, buying now—before prices go up even more and while there’s a lot of inventory—could be your sweet spot. Since home prices are climbing, owning a luxury home could help you build more wealth over time. If you wait, you might end up paying more for the same house later on.

Bottom Line

With more luxury homes on the market and prices rising, you’ve got a great selection and a solid opportunity right now. Interested in seeing what’s available in our area? Let’s connect today!