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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Opportunity in the Luxury Market This Year

Opportunity in the Luxury Market This Year | Simplifying The Market

Homes priced in the top 25% of a price range for a particular area of the country are considered “premium homes.” At the start of last year, many of the more expensive homes listed for sale hadn’t seen as much interest, since much of the demand for housing over the past few years has come from first-time buyers looking for starter homes. It looks like buyer activity, however, is starting to show a shift in this segment.

According to the January Luxury Report from the Institute for Luxury Home Marketing (ILHM):

“In a snapshot of 2019, despite pessimism at the start of the year, the last quarter showcased a strengthening, with an upswing in the luxury market for sales in both the single family and condo markets.”

Momentum is growing, and those looking to enter the luxury market are poised for success in 2020 as well. With more inventory available at the upper-end, historically low interest rates, and increasing average wages, the stage is set for buyers with an interest in this tier to embrace the perfect move-up opportunity.

Most Luxurious Homes In The Daytona Beach Area

The report highlights the increase in buyer activity in this segment, resulting in growing sales toward the end of 2019:

“According to reports from many luxury real estate professionals, the significant increase in number of properties bought at the end of 2019 versus 2018 is reflective of an early 2019 holding pattern.

Many of early 2019’s prospective luxury buyers held off while waiting to see how prices would react to new tax regulations and other policy changes. Buyer confidence returned in late spring and compared to 2018, above average sales were reported in the final quarter of 2019.”

With evidence of strong buyer confidence, this is great news, as more homeowners are building equity and growing their net worth throughout the country:

“Many homeowners are now diversifying their wealth, owning several properties rather than a single mega mansion. In addition, there have been an increase number of home purchases taking place in smaller cities, reflecting the rising number of people relocating from major metropolises. Their property equity wealth or ability to pay high rental costs have afforded them the opportunity to purchase luxury properties in…secondary cities throughout North America.”

With a strong economy and a backdrop set for moving up this year, it’s a great time to explore the luxury market. Keep in mind, luxury can mean different things to different people, too. To one person, luxury is a secluded home with plenty of property and privacy. To another, it is a penthouse at the center of a bustling city. Knowing what characteristics mean luxury to you will help your agent understand what you’re after as you define the scope and location for the home of your dreams.

Bottom Line

If you’re thinking about upgrading your current house to a luxury home, or adding an additional property to your portfolio, let’s get together to determine if you’re ready to make your move.

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
1 / 69
$850,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
- Active

Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
231 Riverside Drive 1602-1 Daytona Beach FL 32117
Featured
1 / 58
$599,000
3
BEDS
3
TOTAL BATHS
2,239
SQFT
231 Riverside Drive 1602-1 Daytona Beach, FL 32117
Condominium For Sale
- Active

This exquisite 16th-floor condo at Marina Grande has been meticulously remodeled with no expense spared. The 3-bedroom, 3-bath unit features a Viking cooktop, high-end LG kitchen appliances, and Samsung stacked washer/dryer. The kitchen boasts stunni

Listing courtesy of James Jestes of EXP Realty LLC
155 Avalon Drive Ormond Beach FL 32176
New Listing - 6 minutes on site
1 / 73
$1,095,000
3
BEDS
3
TOTAL BATHS
2,024
SQFT
155 Avalon Drive Ormond Beach, FL 32176
Single Family Residence For Sale
- Active

Be the first to own this brand new 3 bedroom 3 full bath custom built single family home in Ormond Beach. 155 Avalon Drive is a rare beachside find. This beautiful home was built with longevity at forefront of mind. The first story is concrete block

Listing courtesy of Sheriff Guindi of Realty Pros Assured
257 Sweet Bay Avenue New Smyrna Beach FL 32168
New Listing - 26 minutes on site
1 / 53
$450,000
2
BEDS
2
TOTAL BATHS
1,919
SQFT
257 Sweet Bay Avenue New Smyrna Beach, FL 32168
Single Family Residence For Sale
- Active

This two bedroom/two bathroom home is a must see in the Sugar Mill Country Club Community. Immaculate home is being sold furnished and is ready for immediate occupancy. Kitchen has wood cabinets, granite countertops, stainless appliances, and attra

Listing courtesy of James Mulvey of Magnolia Properties

Check out some of these most popular home searches here at Daytona Beach Property Search

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SEARCH ALL HOMES IN THE GREATER DAYTONA BEACH AREA HERE

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Related posts:

  1. Experts Predict a Strong Housing Market for the Rest of 2019
  2. Mid-Year Housing Market Update: Three Things to Know Today
  3. 2020 Luxury Market Forecast
  4. 4 Reasons This Spring Market Is Better Than Last Year

Posted in: Blog, For Buyers, Housing Market Updates, Luxury Market, Move-Up Buyers

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

Price

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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