Luxury Market Report

Posted: March 13th, 2014 by Brad

Further evidence of a housing recovery is reflected in high-end sales. Northwest MLS members reported 1,621 sales of single family homes priced at $1 million or more, up 45.2 percent from the 2012 total of 1,116 such sales. Condos priced at $1 million and up accounted for another 137 sales, about the same number as 2012 (138 sales).

Recent research conducted by Christies International Real Estate provides insight into the Luxury Residential Property Market.

The findings of Christie’s white paper research was the following. (1) Top tier properties achieved record prices globally with international buyers driving the sales. (2) High net worth individuals continue to invest in real estate, often in second and third homes. (3) Recent changes to tax laws in some countries have impacted market activity and will continue to do so.

As the global economy continues to recover, luxury goods and luxury homes continue to capture headlines with their record sales, captivating buyers across the globe.


The highest price paid for a single-family home last year was $9.75 million for a Medina mansion, while a Seattle penthouse sold for $6.2 million.

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