23 Jan Who Are Today’s Wealthiest Homebuyers?

According to Coldwell Banker’s end-of-year Luxury Market Report, the ultra-luxury sector — generally defined as the top one percent of a given real estate market — is booming.

In fact, in the city with some of the most luxury home listings – Greenwich, Connecticut – sellers consistently bring in 90 to 95 percent of asking prices on prime real estate, even when that asking price is above $10 million.

This top affluent market is ready to buy, all over the country. They are even paying up to 20 percent more than the asking price in some cases, to avoid the inconvenience of having to bid on their desired prime real estate.

72 percent of these wealthy buyers are local to the area in which they are purchasing, and more than ever they are women!

According to the Federal Reserve Board, women control 51.3 percent of all the wealth in the United States. And that number is projected to grow. Wealthy women in the U.S. — especially baby boomers — are big players in today’s real estate market.