Preview Orange County Real Estate Blog

 An Off Market Listing from The Aaronson Group in Corona Del Mar, CA

Luxury living is about more than stunning views and cutting-edge smart home technology—it’s about elevating your lifestyle.  Luxury Coastal Properties are The Aaronson Group's specialty.  And if you’re in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here’s why. 

The number of luxury homes is growing 

The top of the market, or luxury homes, can mean different things depending on where you live. However, these homes are generally in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million dollars: 
“The median sale price for U.S. Luxury homes, defined as the top 5% of listings, rose 9% year-over-year to a record $1.18 million during the second quarter.” 
That same report goes on to show the percentage of homes valued at a million dollars or more has risen to an all-time high (see graph below): 

If this is your desired price range, you have options, each with different features and styles. 
Whether you’re looking for the latest designs, like modern kitchens with high-end appliances, exclusive amenities, or enhanced privacy and security, the market that fits this lifestyle is growing. 

Your luxury home is an investment 

In addition, a luxury home could help you build significant long-term wealth. As the Redfin quote mentioned earlier says, luxury home prices are rising. That may be the reason there are a lot of people investing in luxury real estate right now. According to the August luxury market report: 
“By the end of July, the overall growth in the volume of sales in 2024 stood at 14.82% for single-family homes and 11.35% for attached homes compared to the same period in 2023.” 

Bottom line 

With more million-dollar homes on the market and prices rising, you have luxury property options and a chance to build significant long-term wealth. Want to see the best homes in your area? Get in touch with The Aaronson Group today.   Call: 949-388-5194 or email info@previewochomes.com