Sotheby’s International Realty® recently tapped Becky Gray, senior global real estate advisor with Realogics Sotheby’s International Realty, to share her insight on the “Leading in Luxury” series with a look at What the Luxury Consumer Will Demand in 2019.
Gray, who represented The Iconic Medina Waterfront Estate—the highest-priced residential listing ever sold on the Northwest Multiple Listing Service—earlier this year, was thrilled to share her thoughts.
“Our luxury consumers, now more than ever, have an expanding inventory, including never-before-seen legacy estates that are pushing the upper reaches of the luxury market,” says Gray. “Fueled by an ever-growing technology sector, the maturing millennial consumer will be able to utilize their buying power to create a lasting impression on the market.”
Key advice from other Sotheby’s International Realty affiliates included:
- The continued trend of making lifestyle-enhancing purchases.
- A balance of technology and data with human insight and service.
- The preference for tangible value-adds such as protected views.
- Growing discernment, meaning that sellers who fail to properly price their luxury homes in today’s changing market may find them lingering.
Inman adds that the growing presence in the technology industry means that today’s luxury real estate consumer is more well-informed than ever: “They know what they want, they’ve been biding their time, and now they’re ready to buy.” Yet while technology may give consumers a leg up as they search homes and market trends, they’re also “counting on the insights and service of luxury real estate companies to help them close the deal.”
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