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.

Read More

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.



MORE NEWS: Holiday at home in your very own suburban resort

Palm Beach’s cutest cottage sold in 24 hours

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

“This is now

Read More