Move Up and Upgrade To A New Home
Premium or Luxury homes are typically defined as homes priced in The top twenty-five percent of homes for sale in that area. In the current real estate market, there are plenty of potential "good deals" to be found in the higher end market. This is fantastic news for current homeowners looking to move up to a more comfortable premium home.
During the last couple of years, most of the demand for housing was from first-time home buyers looking to find their starter home while less demand was for higher priced homes.
According to ILHM’s Luxury Report, this imbalance between buyer demand and premium home inventory has resulted in a Buyer’s Market for luxury homes (homes priced from One Million and more).