Luxury News November 2020 Edition

The luxury real estate market continues to march to the beat of its own drum.When stocks tanked in March, U.S. luxury home prices were still up a little more than 1% over the prior year, and they’ve only grown since. As of June, the most recent figures show the median price for the top 5% of luxury real estate had appreciated 3% from the start of the year despite high unemployment and prevailing economic uncertainty.

Luxury brands have seen promising success with personalized virtual shopping experiences. 

In an effort to generate greater customer satisfaction, especially during a virtual world, e-commerce applications have seen that conducting live online shopping events and consultations can boost sales of a certain luxury product by up to 400 percent.

China's number of billionaires under the age of 40 has surged in 2020 due to an ongoing tech boom, despite the global pandemic.

Of the 60 billionaires in China under the age of 40, 14 of them joined the club for the first time in 2020, as a tech-fueled stock market grew and a slew of IPOs paved the way for wealth growth amid the coronavirus downturn.

Seeking a Safe Haven Beyond the Summer Months

In the world of luxury real estate, the Hamptons market traditionally flourishes in summer months and experiences a slight chill in the autumn. This year however, activity on the East End is a year-round affair as top-of-the-market buyers are attracted to some of the nation’s most desirable properties and the unique lifestyle the area offers, as indicated by sales volume spiking 341% from this time last year.

Prestigious properties on the market

25354 Prado De La Felicidad Calabasas, CA 91302 Striking contemporary-style residence whose French Modern exterior shines in exclusive celebrity enclave. Represented by Tomer Fridman. 8 Beds | 14 Baths $37,999,999

235 Middle Neck Rd Sands Point, NY 11050 Notable Sands Point estate that celebrates the best of waterfront living for the 21st century. Represented by Alana Mitnick Benjamin. 14 Beds | 8 Baths | 1 Half Bath $12,900,000

16401 Matilija Dr Los Gatos, CA 95030 Custom Paul Conrado masterpiece boasts 180-degree views of the SF Bay and Silicon Valley. Represented by Nevis and Ardizzone Team. 5 Beds | 5 Baths | 3 Half Baths $13,808,000

2 Hidden Hill Westport, CT 06880 Fabulous beach home that's a masterful blend of contemporary and timeless, casual and formal, sexy and glamorous. Represented by Karen Scott. 7 Beds | 8 Baths | 1 Half Bath $6,940,000