The Most Expensive Homes In America: Coldwell Banker Releases 2012 Luxury Market Report
They say birds of a feather flock together, and that’s apparently true for the mega-rich, as the nation’s wealthiest ZIP codes seem to be getting bigger and richer as the housing recovery continues its upswing. Coldwell Banker’s recent Luxury Market Report, released by the firm’s luxury real estate marketing program, depicts the US luxury market during 2012, and there’s no doubt that mega-homes—valued at $10 million or more—are consolidated in certain areas. In fact, in 2012 200 $10 million homes were sold in the top 15 ZIP codes.
“The activity we are seeing for trophy home sales speaks volumes about the value of these markets,” said Budge Huskey, president and CEO of Coldwell Banker Real Estate LLC. “While California and New York may lead in $10 million and above sales, areas such as Aspen continue to appeal more and more to high-end buyers, with its gorgeous architecture, landscape and lifestyle. Overall, the luxury real estate market is doing incredibly well, giving us many markets to watch.”
Of course New York City without a doubt boasts the most home sales over $10 million with 71, but when broken down by ZIP code, other front-runners emerge. Beverly Hills, Calif.—90210—home to stars and moguls, led the US in 2012 with 21 homes sold at more than $10 million. Aspen, Colo. and Montecito, Calif. are close behind, however, with 16 and 15 homes, respectively, sold in 2012 for at least $10 million. Bel Air, Calif. ranked fourth with 10 mega-home sales. Miami Beach, Fla., Brentwood, Calif., Malibu, Calif., Atherton, Calif., Greenwich, Conn. and Miami, Fla. completed the top 10.
Remarkably, however, the ZIP codes with the most mega-home listings varies from mega-home sales. Malibu, Calif., for example, tops of the list for highest volume of $10 million-plus listings in 2012 at 65, even though only seven sold in the price range. Beverly Hills ranked No. 2 for most $10 million listings with 58, and Aspen ranked third with 54 mega-listings. Other ZIP codes in the top 10 $10 million listings in 2012 include Bel Air, Calif., Montecito, Calif., Greenwich, Conn., Miami Beach, Fla., Laguna Beach, Calif., Atherton, Calif. and Naples, Fla.
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