The Pulse of Luxury Residential Real Estate, San Diego and Beyond
The past year has been unprecedented on many fronts, including unexpected shifts in housing demand. Here in San Diego, the luxury market had more activity over prior years because the desires of buyers have changed, and cheaper borrowing has increased buying power allowing some buyers to move into the luxury market, these trends mirror universal trends explored in this report.
While the value of what defines a luxury property can vary widely around the world (the most expensive home sold in the US last year was a US $165 million mansion in Los Angles, Calif.), in San Diego, the benchmark price is generally accepted to be $2 million or more. Within the last year, the average sales price for luxury homes in San Diego was $4,058,245 with a total sales volume of $650,000,000.*
As we face a period of economic recovery from the Covid-19 pandemic, we explore how many of the world’s prime housing markets will fare and what trends will shape them in the next year and beyond.
The Sotheby's International Realty® 2021 Luxury Outlook
is an exploration into high-end residential markets, reflecting on an unprecedented year for real estate and global wealth. Through this report, we offer buyers, sellers, and professional advisors critical insight into the new normal following a global pandemic. We invite you to download the report below.
If you have questions about buying or selling a luxury property, we invite you to contact us for a no-obligation discussion. The right representation couldn't be more important as it is now. Contact us
today to develop a real estate strategy that works for you.
Sue De Legge & Gina De Legge-Habchi
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