Coldwell Banker issues 2025 luxury trend report
by March 14, 2025 9:05 am 502 views
Coldwell Banker Real Estate LLC and the Coldwell Banker Global Luxury program recently released The 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. We define this segment as residential homes priced above $750K,” said Anthony Benz, marketing director of Coldwell Banker Harris McHaney & Faucette. “The overall luxury market was up 22% in closed units comparing 2023 to 2024. Coldwell Banker Harris McHaney & Faucette market share in the luxury segment increased from 12.1% in 2023 to 14.3% in 2024, which resulted in the highest volume of closed sales and closed unit count in 2024 for $750K+ homes compared to any other firm.”
The firm was No. 1 on Northwest Arkansas Business Journal’s list of largest real estate firms, with total residential volume of $918.62 million in 2024, up 18.2% from 2023. See Page 12 for the list.
The report shows several trends, including the rise of multigenerational living, the emergence of Gen X and women as market leaders, and drivers for “up-and-coming luxury hotspots.”
According to a Coldwell Banker survey, 45% of global luxury property specialists said flexible layouts were a top design feature among clients. Attributes include first-floor in-law suites, lofts or alcoves, open floor plans, extended family spaces and accessory dwelling units.
Gen X luxury homeownership in 2024 rose by 10% over five years — more than any other age group, according to Wealth-X, which provides data on those with a net worth of at least $5 million. Wealth-X data also shows women with a net worth of at least $5 million own 15.2% of U.S. luxury real estate and 13.1% worldwide.
The report also shows high-net-worth people seek primary and secondary residences 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.