Luxury Home Outlook for 2014

We started the year off with one of our favorite posts, 2013’s Most Expensive Homes Sold in LoCo. Over the last few weeks we’ve reviewed the 2013 real estate market for most of our towns and many neighborhoods. Let’s take a look at last year’s luxury market and see what that may bring for 2014…

The number of homes selling with a $1,000,000 price tag or higher has been on a steady rise since 2010.  Eighty-three luxury homes welcomed new owners in 2013, the most since 186 homes sold during 2007. Ten of those were in River Creek, a gated golf course community in Leesburg. The second most popular million dollar neighborhood was Beacon Hill with five, while Belmont Country Club was next with four.

As of this morning, there are 89 existing homes currently for sale and 12 already under contract. Along with eight different new construction neighborhoods, including Creighton Farms and Evergreen Reserve, we are inclined to believe 2014 will continue the upward trend. If you are searching for a luxury home in LoCo, reach out to us and we’d be happy to help.

Cheers,
Mike

Here’s a peek at some LoCo real estate eye candy: