Looking to Upgrade Your Current Home? Now’s the Time to Move-Up! | Triple Crown Real Estate Group

Dated: 04/03/2019

Views: 41

Looking to Upgrade Your Current Home? Now’s the Time to Move-Up!

Looking to Upgrade Your Current Home? Now’s the Time to Move-Up! | MyKCM

In every area of the country, homes that are priced at the top 25% of the price range for that area are considered to be Premium Homes. In today’s real estate market there are deals to be had at the higher end! This is great news for homeowners who want to upgrade from their current house and move-up to a premium home.

Much of the demand for housing over the past couple years has come from first-time buyers looking for their starter home, which means that many of the more expensive homes that have been listed for sale have not seen as much interest.

This mismatch in demand and inventory has created a Buyer’s Market in the luxury and premium home markets according to the ILHM’s latest Luxury Report. For the purpose of the report, a luxury home is defined as one that costs $1 million or more.

“A Buyer’s Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.”

The authors of the report were quick to point out that the current conditions at the higher end of the market are no cause for concern,

“While luxury homes may take longer to sell than in previous years, the slower pace, increased inventory levels and larger differences between list and sold prices, represent a normalization of the market, not a downturn.”

Luxury can mean different things to different people. It could mean a secluded home with a ton of property for privacy to one person, or a penthouse in the center of it all for someone else. Knowing what characteristics you are looking for in a premium home and what luxury means to you will help your agent find your dream home.

Bottom Line

If you are debating upgrading your current house to a premium or luxury home, now is the time!

Blog author image

Triple Crown Real Estate Group | Guy & Joi McKinney

Our purpose is to help you reach your dreams & goals! After many years of buying and selling homes, rental property, multi-family & commercial land investments...we are your go-to eXperts! We are your....

Latest Blog Posts

Rent a Beautiful Home in Flower Mound, TX | Triple Crown Real Estate Group

Check out this Great home for Rent in Flower Mound, TX  Get More Information - CLICK HERESimply scan this code with you cell phone.               

Read More

Appeal or Not to Appeal...Property Taxes On the Rise | Triple Crown Real Estate Group

AGAIN?…OUR PROPERTY TAX STATEMENTS ARRIVED!As you may know, the property tax statements are just being delivered to homeowners! UPDATE: NEW APPEAL DEADLINE THIS YEAR is May 17th!Lets

Read More

Is Your Personal Data Safe? | Triple Crown Real Estate Group

Is Your Data Safe? | Keep Your Data Safe  Safely SearchIs your data safe when surfing the web on other search engine sites?  Your data is safe with TripleCrownRealty.comYou know those ads

Read More