Luxury Home Sales Remain Strong in Seattle
With all of the changes taking place in the real estate market, one might think that buyers would be increasingly less inclined to spring for luxury homes. However, despite rising prices and shifts in buyer attitudes, the sales of homes above $1 million have remained strong in Seattle and throughout the country.
This is according to a report from Redfin, which demonstrates that luxury home sales were up by nine percent in the third quarter of 2014, despite the 1.2 percent drop in home sales as a whole, compared to the third quarter of 2013. The market for such homes has been particularly strong in Seattle, which came in at number eight on Redfin’s list of top cities for luxury home sales.
Some cities, particularly those which were most attractive to foreign real estate investors, were not as lucky. It would seem that overseas investment in luxury homes is beginning to wane. Fortunately, it would seem that domestic buyers are currently up to the task of making up the difference for much of the nation.
