Whether you are an investor, a seller, or a buyer, the luxury real estate markets are looking excellent. We turned to professionals in the market to find out what is really hot right now, and we are sharing the top results with you. Here are the top 2019 real estate markets to watch.
Coldwell Bankers lists Maui as one of their top luxury real estate markets for buyers. Maui is the second largest of the five major Hawaiian islands. Before the 1950s, this island was primarily home to sugar cane and pineapple plantations. As more hotels and resorts were built, tourists flocked to the beautiful waters and sandy beaches. This also brought luxury property buyers to the island.
“Before long, Maui became a very desirable destination for vacation home buyers from California and the west coast of the U.S., as well as from Canada, Japan, and many people from Europe,” says Volker Weiss of Coldwell Banker Island Properties in Wailea. “Location is everything, with proximity to water and views of highest importance for high-end properties.”
After a spike in prices, Maui’s luxury property market has slowed down. It is a great market for buyers, with luxury real estate prices remaining stable.
LA Valley, California
For sellers, Coldwell Bankers has named the LA Valley in California as one of the top 2019 real estate markets to watch. The San Fernando Valley, San Gabriel Valley, and Pasadena are very attractive for both sellers and buyers, according to the team’s analysis.
“Pasadena has always been very desirable but it’s not very flashy, and while people here are very wealthy, they do not flaunt it,” says Darrell Done of Coldwell Banker Residential Brokerage in Pasadena. “Even in the worst downturn of the market in 2008, our area was one of the last to experience the effects, and we were one of the first to recover.”
Napa Valley, California
For luxury clients who seek a resort lifestyle, Napa Valley tops the luxury real estate markets list in the Coldwell Bankers Analysis. Other US cities in the category include Vail, Colorado, and Paradise Valley, Arizona. Napa Valley led the pack thanks to the stunning scenery and world-class wines.
“People come here to relax and pursue a laid-back lifestyle. Napa is ground zero for the best wines in the world, and the natural beauty is so stunning that when you come here, you just feel relaxed. Our buyers of properties above $10 million come primarily from Silicon Valley and San Francisco, with others flying in from Los Angeles and Texas on private jets. They want to immerse themselves in natural beauty with views and privacy with easy access to amenities like wine tasting and great restaurants from Napa all the way up Highway 29 to Calistoga, and in towns like Yountville, Oakville, and Rutherford,” says CYD Greer, a Coldwell Banker broker in the Valley.
Nova Scotia, Canada
Canada is attracting luxury real estate buyers from all over the globe. Nova Scotia is one of the top trending 2019 real estate markets in the country. Residents can fly in or sail into the Atlantic hugging province. The seaside setting and welcoming culture are drawing many international luxury home buyers to Nova Scotia.
“Part of the reason Nova Scotia appeals to an international audience is our lifestyle,” says Mariana Cowan of Coldwell Banker Supercity in Halifax. “Welcoming immigrants has been part of Nova Scotia’s identity for generations, and people who come here are encouraged to maintain their cultural identity, traditions, and languages, so we provide a convenient, safe haven for these buyers from all over the world.”
Cabo San Lucas, Mexico
Luxury real estate markets in Mexico have been on the upswing for several years. Luxury real estate buyers from primarily California and Texas are looking to Mexico for their second home. Cabo San Lucas, located on the Baja Peninsula, is a popular choice with both investors and buyers. The once sleepy fishing village is now a world-class resort area that attracts the wealthy.
“The combination of the desert with the ocean creates a special energy, which is something that people really feel when they arrive here, and many of them decide that they want to live in this unique paradise,” says owner/broker Leticia Diaz Rivera of Coldwell Banker Riveras. “These are wealthy buyers paying cash, no debt, but the atmosphere here is what we call ‘relaxed luxury’ because people are outside all of the time enjoying the beaches, going fishing, playing golf, or even riding four wheelers around in the desert.”
To read more about the runners up in these luxury real estate markets as well as some of the hot spots for real estate around the world, check out the entire report from Coldwell Banker. So, which of these 2019 real estate markets appeals to you? To see some of our favorite luxury properties, enjoy our article about the celebrity homes we love.