DECEMBER LUXURY MARKET REPORT SUMMARY: RECAPPING THE LUXURY REAL ESTATE BOOM OF 2020

While nearly everyone has grown tired of the term “unprecedented” this year, there’s certainly no other way to describe the 2020 luxury housing market and the resulting real estate boom.

As the year draws to a close, the sheer volume of luxury homes for sale continues to skyrocket everywhere — from rural destinations to popular resort locations here on the Kona and South Kohala Coasts of the Big Island of Hawaii.

How about those RESORTERS?

Resorters are ready to enjoy retirement in world-class vacation destinations where they can have access to fresh air, recreation, and luxury amenities. The Shores at Kohanaiki is one of the newest luxury affluent resorts on the Kona Coast offering the most beautiful world class beach club along with a multi million state of the art fitness facility and golf.

Resorters net worth of $10 million or more makes the Hawaii Island resorts an easy choice for them!

Already owning multiple properties you need a savy luxury real estate professional who understands their biggest core value right now is one thing: freedom!

Of course, the affluent also prioritize health and wellness, but sophistication and luxury are nearly equal priorities — more so than the other two groups.

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While this month showed national typical holiday slow-down, even the number of sales of single-family homes in big, metropolitan areas like Los Angeles, San Francisco, Boston, and Chicago are overall higher than they were in November 2019 and as well here on Hawaii Island.

So what does this luxury real estate boom mean for you?

Very simply, it means there has never been a better time to connect with a luxury real estate professional.

Along with the lower mortgage rates and price points dropping (in some areas), the affluent continue to turn their attention — financially speaking — to creating a home that offers them all the attributes they need in order to maintain a certain quality of lifestyle.

Affluent clients are also looking for…

• Investment opportunities
• Secondary residences
• Extra amenities

And anything else that will put them ahead of the crisis and help make them comfortable while doing so. The Mauna Lani Resort, Kukio properties, Hualalai Resort, Mauna Kea Resort, Waikoloa Beach Resort all offer affluent Buyers carrying levels of investment properties from Villas to Estate homes with views like no other.

I am happy to provide you with continual updates during this unexpected real estate boom with:

• Luxury market reports
• A guide to smart home amenities that will make pandemic life more palatable
• Automated email outlining unique investment opportunities
• A free home valuation tool
• A guide to safe relocation practices

More than ever, affluent clients are looking to their luxury real estate professionals to help them adjust to this new way of life for the time being. Preview some of the most affluent properties available today on Hawaii Island.

As an affluent buyer you are preparing for a long, uncertain winter as COVID numbers continue to rise — the luxury real estate boom is almost solely driven by the need for an all-in-one home base with a “sanctuary” feel. Hawaii Island has low number reporting some of the lowest in our nation.

The bottom line there is great momentum for affluent customers relocating to paradise for the long wait in the islands or some are making decisive permanent moves until the unknown is known.

RELOCATIONS TO TROPICAL AND RESORT MARKETS

Without the obligation of a commute, and without easy travel, most affluent clients are looking for homes that also feel like a vacation getaway. So, it makes sense that markets with more nature and lower COVID rates — like Lake Tahoe, Hawaii, the Carribean, Breckenridge, or even Whistler in Canada — are getting ample attention from luxury real estate buyers.