Like the majority of real estate markets around the country, the luxury home market is steadily recovering. As the markets are changing, so are the amenities that today’s luxury home buyers desire. According to Trulia, jaw-dropping views, windows and outdoor spaces are currently some of the trendiest amenities in luxury homes.
Floor-to-ceiling windows, oversized windows, large windows and windows in the ceiling are some of the most common phrases that you will see in today’s luxury home listings. “Recently, there’s been more of an emphasis overall on nature and natural materials. This trend in luxuries could be part of the same shift,” says Jed Kolko, chief economist and head of analytics at Trulia. Other phrases that have been on an upward trajectory include ocean views, panoramic views and outdoor entertaining spaces, such as terraces and rooftop decks.
To determine what features luxury home buyers are now searching for, Trulia compared luxury homes listed between July 1, 2012 and June 30, 2013 with homes listed in the prior year, July 1, 2011 through June 30, 2012. For the purpose of this comparison, Trulia considered luxury homes to be any home that was priced at least four times higher than the metro’s median listing price.
According to the analysis, a marble bath is the amenity that saw the most growth in the one year span. Compared to the year before, that fact that a home has a marble bath is 78 percent more likely to be mentioned in a listing. Other amenities that have seen a significant jump in luxury home listings are storage space, marble floors, a wine room, gym and tennis court.
Today, luxury listings are 16 percent less likely to mention a “BBQ” than they were in the July 1, 2011 to June 30, 2012 time period. Other amenities that saw a significant drop in mentions include hardwoods, custom cabinets, fireplaces, double sinks, stainless appliances and a formal dining room.
Overall, Trulia’s analysis shows that luxury home buyers are more focused on their home having natural lighting, fantastic views and amazing entertaining spaces that take advantage of the great outdoors. At the same time, buyers are less concerned with having formal living spaces and kitchen amenities. To see more information on trends in new luxury homes in Atlanta, click here.