Time for our next Market Update. No secret… we are still in a hardcore Seller’s Market. 
This Month’s Market Question: Is it just the lower price points that are seeing multiple offers and considered the “Seller’s Market”?
Answer: Nope, not all. In fact, the Luxury Home Market has seen a very large surge in recent months. Now “luxury” means different things to different people. In this sense, I am speaking about homes in a high enough price point to need a Jumbo Loan.
Why are we seeing this trend? COVID. And trust me, I know you are sick of hearing COVID used as an excuse for literally everything these days, but hear me out for a moment. When more people started working from home, they realized they need more space for that home office. Add to that employers started realizing they don’t need their employees in a typical office setting anymore and many have already determined the “work from home” will now be permanent. That means no more commute. Homeowners are free to look for larger homes on larger lots, further away from their employer base. Hence, the surge in Luxury Home purchases.
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