Sotheby’s International Realty is pleased to announce the release of its 2022 Luxury Outlook report, which identifies the trends likely to shape the world’s prime housing markets in the year ahead. The comprehensive report offers insight into the high-end real estate industry as the starts-and-stops of the pandemic’s reopening fueled even stronger demand and inventory struggled to keep pace. The global report reveals that relief from the market frenzy may not happen quickly as prices are expected to rise in 2022. In addition, a shift to a hybrid work model is encouraging more buyers to invest in real estate and seek larger homes that can accommodate remote work while remaining within commuting distance.

Data from the latest Monthly Luxury Report from LIV Sotheby’s International Realty (LIV SIR), paints a similar picture for the luxury real estate market in Denver Mero where the demand for high-end homes continues to surge even two years after the start of the pandemic. Year over year, the number of luxury listings sold in Denver rose by 66% in 2021. Interestingly, despite the sharp rise in the number of homes sold last year, the average price remained relatively constant – hovering at about $1,600,025 for the year.

“Last year, Denver saw incredible increases in luxury real estate sales but we ended 2021 with an impressively low number of active listings,” commented Shannel Ryan, president, LIV Sotheby’s International Realty, Metro Denver. “Despite dwindling inventory, showing activity is already hinting at an early start to the selling season here and in all markets across Colorado.”

The expert insight and analysis of the global housing market within Sotheby’s International Realty’s 2022 Luxury Outlook report was compiled by surveying Sotheby’s International Realty agents around the world who transact in the US$10M+ price category. This information was complemented by gathering supporting data from other leading industry experts, including UBS Wealth Management; Henley & Partners, a global citizenship and residence advisory firm; the National Association of Realtors; in addition to art and luxury experts at Sotheby’s, the famed auction house, to round out luxury trends in the year to come.

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Key findings featured in the report include:
• 2022 is likely to be the year of the international buyer as borders open and vaccinations and boosters roll out
• Nearly half of respondents agree that a rise in interest rates might affect the market
• In North America, millennials and Gen Xers are expected to make up the majority of luxury homebuyers in the coming year
• Between 2018-2042, nearly US$70 trillion will be passed down from older generations and millennials will continue to use their share for real estate, according to Cerulli Associates
• In the U.S., price appreciation of second homes is expected to continue even after the number of transactions slowed due to limited inventory
• The most important amenities for today’s luxury buyers are a garage with storage, first-floor full bathroom, eat-in kitchen, and deluxe primary bedroom suite

Click here to read the complete report.

To learn more about all sectors of the real estate market in Colorado and view LIV Sotheby’s International Realty’s selection of gorgeous listings, visit livsothebysrealty.com.

The news and editorial staffs of The Denver Post had no role in this post’s preparation.

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