Page 6 - Prestige

Expect a continued expansion of lux- ping a nine-year run” — uncertainties sur- city beckons a large number of downsizing
ury in nearby Salt Lake City as millennials, rounding the election put buyers in a watch- boomers. “People are buying because they
downsizing boomers and entrepreneurs and-wait mode. Once the election cycle was want to be in Boston. It doesn’t matter what
discover the city’s unique mix of urban complete, Lewis says, the market picked up the market is. If they can afford to buy, they
ambiance and outdoor lifestyle, great real and improved substantially in the second will,” explains Sarah Mooradian, vice presi-
estate values and a jetport easy enough to half of the fourth quarter. “This leads me to dent with Berkshire Hathaway HomeSer-
facilitate long distance commutes. believe we are preparing for another run, vices Warren Residential. Boston had the
“The higher you go, the more house you especially in Snowmass, which was the last largest decline in inventory of any metro,
get for the dollar. People are totally amazed sub-market to start any sustained recovery according to Zillow, so prices are up, but still
at what they get for $2 million here,” shares from the recession,” he says. well below New York, San Francisco or L.A.
Linda Secrist with Berkshire Hathaway In Vail, 2016 was incredibly active. “It For Atlanta and upscale locales such as
HomeServices Utah Properties. was tough to keep anything from $300,000 Buckhead, 2016 was a record year with new
An urban lifestyle remains a strong to $700,000 on the market for too long. projects, buyers new to the city and locals
draw for many empty nesters, says Our high-end market did not fare as well, wanting to make a move. Atlanta also had
Janet Owen, with Berkshire Hathaway until we got into fall and early winter, and all a record residential sale last year — over
HomeServices KoenigRubloff Realty Group of a sudden it gained quite a bit of traction,” $17 million. “January is always a great indica-

CHICAGO ASPEN

in Chicago. In particular demand are resi- says Kyle Denton with Berkshire Hathaway tor of what the year may bring. We are only
dential towers affiliated with five-star hotels. HomeServices Colorado Properties. at mid-month and I am receiving calls, inqui-
“I am really excited about real estate in The Northeast saw more subtle upticks. ries and writing offers on at least five prop-
Chicago for 2017,” says Joanne Nemerovski The interval between early November and erties and have at least six buyer projects. I
with Berkshire Hathaway HomeServices the first week of January brought 64 contin- really feel that this is a very strong indication
KoenigRubloff Realty Group in Chicago. gent and pending contracts in Greenwich, of what is in store for the residential market
“Right now, listings are getting a ton of Connecticut. Nearby Scarsdale and West- in Buckhead and greater Atlanta,” explains
showings. I am finding more buyers in the chester County, New York, and other loca- Debra Johnston, with Berkshire Hathaway
market, including those who put off buying. tions saw a similar trend. Plus, Shelley Grafs- HomeServices Georgia Properties.
The prospect of interest rate hikes has many tein with Berkshire Hathaway HomeServices It’s still a sellers’ market in Orange
deciding it’s time to lock in and get into their Westchester Properties says a good number County, California, particularly in the
dream home. Prices here have recovered of potential buyers say they are waiting to $1.5 million-and-under price bracket. Overall,
and moved past peak of 2007 and 2008.” see what comes on in the spring. “I am cau- days on market average two months, which
“Strong and still recovering” is how Mark tiously optimistic really because the stock made December’s inventory of homes on
Lewis with Berkshire Hathaway HomeSer- market is doing so well even though interest the market the third lowest in the last 16 CHICAGO©ISTOCKPHOTO.COM/RABBIT75_IST;
vices Aspen Snowmass Properties charac- rates are inching up,” she says. years. Genelle Geronsin, with Berkshire Ha- ASPEN©ISTOCKPHOTO.COM/TONDA
terizes Aspen luxury, where the sweet spot Boston continues to be a consistent top thaway HomeServices California Properties,
for single-family sales is the $2 million-to-$6- performer. Still, even here, year-end brought expects 2017 to keep pace with 2016 with a
million range, and $250,000 to $2 million for a slight market pulse. Jobs and schools bring slight pickup in purchase prices and slightly
condos. Following 2015 — “a peak year, cap- newcomers, but like many other metros, the more inventory. Additionally, she anticipates

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