Elite Traveler’s recent look at the luxury property market in the United States found that confidence in the value of owning real estate is increasing, as is younger consumers’ willingness to pay more for their homes.
This week we caught up with some of America’s leading real estate agents to get the low down on the most expensive homes on the market – from beautiful green landscapes in California to luxurious city living in New York.
The glitz and glamour in some of America’s most exclusive areas have made the country famous for its huge trophy homes, complete with pools, tennis courts and other extravagances.
Today, demand from international buyers for America’s grandest homes – which often come with views to die for – is driving the luxury property market, according to Christie’s International Real Estate report, ‘Luxury Defined: An Insight into the Luxury Residential Property Market’, due to confidence in the value of non-consumable assets such as prestige real estate and fine art.
Betty Graham, president of Coldwell Banker Previews International NRT, says she has noticed a trend of more international buyers, too. Trophy sales in excess of $100m down to $20m in the past 15-18 months have been dominated by overseas buyers, she comments.
New York, Beverley Hills, Los Angeles and Aspen were identified as the cities with the highest number of luxury home sales over $10 million in Coldwell Banker Previews International NRT’s Luxury Market Report, while property markets in California dominated as the most expensive places to live in the United States in its 2013 Home Listing Report (HLR), released earlier this month.
With its ultra luxurious living and exclusive white sandy beaches, Malibu, California, was ranked as the most expensive location overall in the report, with an average selling price of $2.15 million. Newport Beach came in at second with at $1.7 million, closely followed by Saratoga at $1.6 million. Markets in Los Gatos and San Francisco were also in the top five most expensive places to live in the United States.
However, in the ultra-high end real estate market, a selection of über-luxurious properties are going above and beyond average selling prices, with their timeless elegance, state-of-the-art amenities and magnificent views. We take a look at a selection of the most expensive homes on the market right now.
Bel air, Los Angeles, California – $75 million
Located in one of California’s most expensive ZIP codes, according to Coldwell Banker Previews International NRT’s latest Luxury Market report, this historic Holmby Hills residence is full of timeless elegance with its private park-like grounds, lavish interiors and gracious comforts.
One of the last properties designed by world-renowned architect Wallace Neff, who was famed for creating ‘California-style’ homes, this grand Colonial estate features ten bedrooms, 12.5 baths and over seven acres of land, as well as a tennis court, pool, a massive motor court and an attached four car garage.
San Mateo County, California – $69.8 million
In San Mateo, the 12th most expensive property market according to Coldwell Banker Previews International NRT’s HLR, is this impressive 1941 Colonial estate home, which has more than 90 acres of land and endless views of Woodside’s glorious countryside.
Being marketed by Alain Pinel Realtors for $69.8 million, the 9,000 square foot, nine-bedroom property features a tennis court, pool, gatehouse, caretaker’s cottage, stable and barn. The land is bordered on one side by Huddart Park, with wonderful views of oak-studded hills and open meadows.
See more photos here.
Bridgehampton, New York – $49.5 million
The Hamptons were the exclusive and glamorous place to be in 1920s, and now is your chance to feel like you’re on the set of the Great Gatsby with this historic waterfront estate, which oozes in opulence.
Built in the early 20th century, the beautiful 22,000 square foot baronial mansion has been transformed over a five-year period and returned to its former turn-of the century splendor, with all the comforts of 21st century amenities. Boasting 7.5 acres of waterfront land overlooking Mecox Bay, this one-of-a-kind property being marketed by Corcoran Group Real Estate is unlike anything else you’ll find in the Hamptons today.
See more photos here.
Palm Beach, Florida – $45 million
Sublime ocean views are on offer at this brand-new direct ocean to intracoastal residence in Palm Beach, South Florida, which has a luxurious oceanfront master suite in addition to seven other bedrooms.
Oversized windows give residents the best ocean views from inside the home (sunrise to sunset vistas anyone?), while an oceanfront pool, tennis court, summer kitchen and entertaining areas make sure the best of Florida’s great outdoors can be enjoyed from the luxury of this premier estate.
Palm Beach was named in Coldwell Banker Previews International NRT’s Luxury Market Report as one the top 20 cities with the highest number of luxury home sales in June 2012-3.
See more photos here.
Fifth Avenue, New York City – $42 million
Located in one of Manhattan’s most expensive ZIP codes, The Plaza Residences at 1 Central Park South are brand-new condos in the landmark Plaza Hotel in perhaps the most famous street in New York: Fifth Avenue.
Up for sale are apartments 807-809, a stunning corner unit totaling 5,850 square feet with 11 rooms, four bedrooms, a library and 5.5 bathrooms. Being marketed by Corcoran Group Real Estate at $42 million, the property faces the Pulitzer Fountain on Fifth Avenue. Views of Central Park don’t get better than this.
Atherton, California – $33 MILLION
Located in one of America’s most expensive zip codes, according to Forbes magazine, this beautiful five-bedroom home in Atherton, California, is a rare find.
The property, which is being marketed by Coldwell Banker Previews International, boasts a separate guest house, an indoor half basketball court, pool and three-car garage.