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Real Estate Market in the Greater Baton Rouge Area Blog

Tuesday, August 29, 2017   /   by Juli Jenkins Team

Luxury home sales on the rise?

Luxury home prices soar as sellers come back down to earth











Sale prices of luxury homes in the second quarter of this year were up 7.5 percent from a year ago, the first time luxury gains have outpaced the rest of the market since 2014.






The real reason for the luxury recovery may be a shift in the mind of sellers: They were asking too much, and now that they're asking less, there is more action in the market.






Luxury home sales have been rising steadily, causing the supply of those homes for sale to drop.








The slump in the swankiest sector of the housing market appears to be over, and, ironically, it may be due to a dose of reality among sellers. Sale prices of luxury homes in the second quarter of this year were up 7.5 percent from a year ago, the first time luxury gains have outpaced the rest of the market since 2014, according to Redfin, a real estate brokerage which defines luxury as the top 5 percent of the most e ...

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