Recent Trends in the Luxury Market: Urbanist and Hipsturbia

Recent Trends in the Luxury Market: Urbanist and Hipsturbia

Recent Trends in the Luxury Market: Urbanist and Hipsturbia

The latest report from the Institute for Luxury Home Marketing reveals that baby boomers are choosing to downsize with an eye on comfort and lifestyle over space and estate style homes. As the overall Luxury Market reflects a more balanced market nationally, it can be argued that we are shifting to a Buyer’s market.

So, what are Buyers looking for in Southwest Florida? The Buyer’s demand in the marketplace does not rule out the coastal estate properties, however the new trends reflect a shift that includes Condo developments in safe, walkable areas. Buyers are not as interested in large, labor-intensive properties, rather they support active, efficient, eco-friendly lifestyles with the newest amenities. Features like common space, electric car charging in garages, roof top pools, dog area and friendly pet policies that allow a more responsive focus on social well-being and meet the trending needs in the marketplace. This mirrors the healthy, happy lifestyle that we are known for here in Southwest Florida.

Therefore, the slowing of sales in some upper-tier markets has less to do with upper-tier price points and more to do with the types of properties being offered. Buyers are still willing to pay upper-tier prices, just as long as they consider the price to be a match for the lifestyle they’re seeking, according to the October Luxury Insights Report.

Even the maturing sector of the luxury home market is choosing to downsize in favor of having easy access to new experiences. This particular demographic is becoming a part of the “hipsturbia” scene and choosing quality over space. They prefer newer, modern amenities and environmentally friendly design. Luxury home sellers can benefit greatly in this changing market by working with a well-educated real estate professional who can position their property to align with the desired lifestyle of the luxury buyer.

Check out our listing that speaks exactly to this trend. This 2/2.5 condo has about 1500 sq. ft. overlooking the iconic 5th Avenue South with designated secure parking, swimming pool, and pet policies that encourage the comforts of our 4-legged family members within certain size parameters. This is the most updated unit on 5th Ave with secure entry, fully updated bathrooms and kitchen that the amateur chef would appreciate to entertain visiting guests.

780 5th Ave S, 302 | Listed at $1,295,000 

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Brianna Tarantino

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