Coldwell Banker Real Estate LLC and Coldwell Banker Global Luxury Program recently released a trend report on the luxury real estate market. Luxury homes are defined as the top 10% of the market.
“In northwest Arkansas, the luxury market continues to grow rapidly. Anthony Benz, Marketing Director at Coldwell Banker Harris Mchaney & Faucette, said: “In the closed units compared to 2023 and 2024, the overall luxury market increased by 22%. Coldwell Banker Harris Machany & Whosett market share increased from 12.1% in 2023 to 14.3%.
The company was number one on the Northwest Arkansas Business Journal’s list of biggest real estate companies, with a total housing volume of $918.62 million in 2024, an increase of 18.2% from 2023. See page 12 for a list.
The report shows several trends, including the rise of multi-generational living, the emergence of X and women as market leaders, and drivers of “promising luxury hotspots.”
According to Coldwell Banker Survey, 45% of the world’s luxury real estate specialists said that flexible layout is the best design feature among their clients. Attributes include first-floor in-law suites, loft or alcoves, open floor plans, extended family spaces, and accessory housing.
Gen X Luxury homeownership increased by 10% over five years in 2024. It has increased more than any other age group. Wealth-X data also shows a net worth of over 15.2% of US luxury real estate and 13.1% of women worldwide.
The report also calls for large people seeking major housing and secondary housing where they can best use their wealth, including Austin, Texas. Dubai, United Arab Emirates. Houston; and Singapore. Motivating factors include lower taxes, climate, economic opportunities, and lifestyle preferences.
