Day: August 20, 2020

Luxury Home Prices Rebound After Record Pandemic Decline

High-end home prices are showing strength during a recession as the coronavirus pandemic drives demand for extra bedrooms, home offices, big backyards and pools.

The median sale price for luxury homes in the U.S. rose 1.2% year over year to $825,000 during the three months ending July 31. The rebound comes after a record decline in the spring, when luxury prices dropped 1.7% as the coronavirus pandemic forced the U.S. economy into a standstill.

This is according to an analysis that divided all U.S. residential properties into tiers based on Redfin Estimates of the homes’ market values as of Aug.

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Gold Coast penthouse sells for almost $4m to Melbourne buyers

THE state border is closed but it’s not deterring interstate buyers with a Melbourne family splashing almost $4 million on a trophy penthouse on the Gold Coast.

A $3.95 million contract for the two-level trophy penthouse in the Oracle building at Broadbeach went unconditional on Thursday.

24001/21 Elizabeth Ave, Broadbeach has sold to a Melbourne buyer.

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The sale went ahead despite the buyers not even stepping foot inside the residence – all the inspections were done via Facetime.

“This is now

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