Luxury Market Report Ranks Most Valuable Markets

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 PARSIPPANY, N.J. (April 3, 2012) – Look out 90210; a new ZIP code in Aspen, Colo., is making California-sized waves. Today, Coldwell Banker Previews International,®   the Coldwell Banker brand’s luxury real estate marketing program, released its Luxury Market Report, providing a snapshot of luxury markets from January through December 2012. The report, which focused on the value of luxury real estate in today’s market, found that outside of New York City, the exclusive Beverly Hills ZIP code, 90210, had the most luxury real estate sales over $10 million last year (21), with ZIP code 81611 in Aspen following closely behind (16). The Montecito, Calif., ZIP code 93108 came in third with 15 sales for ultra-luxury homes priced $10 million and up followed by 90077 in Bel Air, Calif. (10).

 

“The activity we are seeing for trophy home sales speaks volumes about the value of these markets,” said Budge Huskey, president and CEO of Coldwell Banker Real Estate LLC. “While California and New York may lead in $10 million and above sales, areas such as Aspen continue to appeal more and more to high-end buyers, with its gorgeous architecture, landscape and lifestyle. Overall, the luxury real estate market is doing incredibly well, giving us many markets to watch.”

 

ZIP Codes with the Highest Volume of SALES $10 Million and Up in 2012

Zip Code

City / State

# Sales $10 Million and Up

90210

Beverly Hills, Calif.

21

81611

Aspen, Colo.

16

93108

Montecito, Calif.

15

90077

Bel Air, Calif. (LA)

10

33139

Miami Beach, Fla.

8

90049

Brentwood, Calif. (LA)

8

90265

Malibu, Calif.

7

94027

Atherton, Calif.

7

06830

Greenwich, Conn.

6

33156

Miami, Fla.

6

*

ZIP Codes with the Highest Volume of LISTINGS $10 Million and Up in 2012

Zip Code

City / State

# Listings $10 Million and Up

90265

Malibu, Calif.

65

90210

Beverly Hills, Calif.

58

81611

Aspen, Colo.

54

90077

Bel Air, Calif. (LA)

44

93108

Montecito, Calif.

40

06831

Greenwich, Conn.

34

33139

Miami Beach, Fla.

29

92651

Laguna Beach, Calif.

27

94027

Atherton, Calif.

25

34102

Naples, Fla.

22

 

 

 

Top Closed New York City SALES $10 Million and Up in 2012

                  Area

City / State

# Sales $10 Million and Up

Upper East Side

New York, NY

41

Upper West Side

New York, NY

12

Downtown

New York, NY

12

Midtown East

New York, NY

5

Midtown West

New York, NY

1

 

Top Active New York City LISTINGS $10 Million and Up in 2012

                  Area

City / State

# Listings $10 Million and Up

Upper East Side

New York, NY

65

Downtown

New York, NY

51

Upper West Side

New York, NY

25

Midtown East

New York, NY

20

Midtown West

New York, NY

15

 

 

 

We are also seeing high-end buyers find value in beautiful but more undiscovered areas just outside of well-known luxury markets,” said Betty Graham, president of Coldwell Banker Previews International / NRT. “Whereas a beachfront home may be $16 million in the ultra-luxury hot spot Montecito, Calif., a similar property may be just over $6 million in Carpinteria, Calif., which is only a seven-minute drive away. These hidden gems often offer the same benefits of their neighboring communities, but provide a unique opportunity for luxury buyers looking to optimize their investment.”

 

Hidden Gems: Undiscovered Luxury Real Estate Markets in the $1-2 Million Range

City

Price Per Sq. Ft.

Comparison

Glenview, Ill.

$286

$69 less than Lincoln Park

($355 / sq. ft.)

Castle Pines Village, Colo.

$352

$23 less than Cherry Creek

$375 / sq. ft.)

Bonita Springs, Fla.

$366

$51 less than Naples

($417 / sq. ft.)

 

Other markets featured in the report for offering a great value in the luxury real estate price range of $2-3 million and above include: Marblehead, Mass., which sits on the peninsula 17 miles north of Boston, Paradise Valley, Ariz., located less than three miles from Phoenix, and Carpinteria which is only a seven-minute drive from Montecito.

The full Coldwell Banker Previews International Luxury Market Report, available at http://www.previewsinsideout.com/luxurymarketreport2013, ranks the top cities and ZIP codes with the most luxury listings in the $1 million+, $5 million+ and $10 million+ price ranges. It also offers an exclusive “Luxtimate” look at how to price ultra-luxury homes and an inside peek into emerging domestic and International markets Chicago and Australia. Photos, listings and details are available upon request.

About Coldwell Banker Previews International®

Previews® began as a luxury home brokerage founded by Henderson Talbot in 1933.  The firm was acquired in 1980 by Coldwell Banker Real Estate LLC and re-launched as Coldwell Banker Previews International, the brand’s luxury homes program.  The exclusive group of certified Previews® Property Specialists make up approximately 10 percent of the more than 82,000 Coldwell Banker sales associates worldwide.  Coldwell Banker Previews International® participated in more than 16,400 transaction sides of homes priced at $1 million or more in 2012. On average, Previews handles $86.1 million in luxury homes sales every day. The website www.coldwellbankerpreviews.com features more than 17,000 luxury properties from around the globe. Coldwell Banker, Previews and Coldwell Banker Previews International are registered marks licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.