Every home buyer has a differing definition for luxury. While some may think of elegant features, others may consider luxury to be more time at home, proximity to family and friends, or convenience in terms of amenities and features. Forbes contributor Anthony Hitt used data to determine what he thinks are the five up-and-coming luxury markets in North America right now. Take a look at some of his list below.
1. Southeast Coastal Communities: As recently covered by the Wall Street Journal, more and more people are deciding to turn their vacation homes into their full-time residences, citing quality of life, family time, nature and the ability to unplug as reasons to move their families full-time to traditionally second-home markets.
2. Bozeman, Mont.: Bozeman has been long renowned among outdoor enthusiasts for its fishing, hiking, skiing and cycling. Perhaps one of the first hubs of “Silicon Prairie,” Bozeman has become home to quite a few tech startups. As more jobs pour into the area, people are not only coming to Bozeman but staying there thanks to the outdoor amenities and work-life balance it affords — and the real estate market is reflecting this.
3. Brooklyn, N.Y.: Brooklyn used to be the less-expensive alternative to living in Manhattan, while still in close proximity to the city, but no more. Dumbo, Fort Greene, Greenpoint, Carroll Gardens and Park Slope all rank among the most expensive neighborhoods in New York City, with median sales prices clocking in over $1 million.
Check out the rest of Hitt’s list at Forbes.
Read More
