5 Luxury Real Estate Trends for 2023

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The real estate market this year is certainly experiencing a shift as compared to earlier years. After coming off a time period of low inventory combined with low interest rates it was the norm to have multiple offers on nearly every home that was on the market. Despite the market cooling off a bit, some emerging trends have been cited as many feel this year may be better or the same as last for property investment. Here is a closer look.

Smaller Homes Offer Big Appeal

Now that things have loosened back up since the pandemic buyers are not seeking such large homes as much now that schools are open and people are back at the office. Smaller, luxury homes are becoming more popular as they have been selling more quickly than larger ones. Luxury buyers also like to purchase in cash so smaller homes may be more appealing with lower costs.

Buyers Remorse

In the previous time period of buyer frenzy where bidding wars got out of hand, sometimes it became a goal of winning the bid rather than getting the best deal or house. This led to many buyers having remorse over their purchase decisions. This may make some luxury home buyers decide to move.

Global Buyers

International real estate transactions are back on the upswing. Foreign buyers are attracted to U.S. housing and vice versa. According to the National Association of Realtors (NAR) top international buyers in the U.S. are China, Canada, India and Mexico respectively.

Investments

Many people still feel that real estate is still a safe bet for long-term investments. Real estate can diversify a portfolio, offer a long-term investment, generate income with investment properties and act as part of an inheritance for dependents.

Cash Deals

With interest rates higher than before buyers seek alternate financing options and the wealthy are leveraging cash in real estate. Cash deals are expected to be on the rise with increases seen by NAR data over previous years.

Beth Dickerson

Boston, MA

Primary phone
(617) 510-8565
Email
[email protected]
Address
277 Dartmouth St. , 2nd Floor,
Boston, MA 02116

About The Author

One of Boston’s most reputable real estate brokers, Beth Dickerson has achieved more than $2 billion in sales and thousands of successful real estate transactions over her nearly thirty-year tenure. Beth has received national acclaim from the real estate industry and represents some of the most prestigious residents and properties across Massachusetts. Her enduring record as a top producer comes from the intuitive gift of sensing her clients’ needs. She has built a business that is referral-based at its core—a testament to her relationship-driven approach and penchant for exceeding expectations. It is this nuanced expertise that Beth leverages to guide many of her clients-turned-friends through some of the greatest milestones of their lives.

Beth was the proprietor of her own real estate company before joining the residential division of R. M. Bradley in 1993, where she was a top producer for more than a decade. In 2003, she founded her own boutique real estate firm, Dickerson Real Estate, before merging with Gibson Sotheby’s International Realty in 2007. Today, Beth attributes her success to her comprehensive marketing and advertising strategies, exclusive contact network, and unparalleled insight into neighborhoods like Back Bay, Beacon Hill, the South End and Waterfront. With an understanding that no two clients are alike, she works with clients in all phases of life—from first-time buyers to luxury developers, seasoned sellers and beyond. Beth offers clients the resources to aggressively market their property locally, nationally and globally, and her attention to detail, drive and enthusiasm are unmatched.

Beth has appeared in prestigious media outlets including The Wall Street Journal, Mansion Global, The Boston Globe, and Boston magazine, and was prominently featured as Greater Boston’s real estate expert on WCVB Chronicle in 2020. She has had the honor of serving as President of the Downtown Council of the Greater Boston Real Estate Board. For over ten years, she has been a Co-Chair and Committee Member for the Massachusetts General Pediatric Hospital for Children’s Storybook Ball. She serves as a Board Member of the Community Music Center of Boston and a member for the Perkins School for the Blind, Emerald Necklace Park Conservancy, Justine Liff Luncheon, Youth Villages and the Boys & Girls Club of Boston, among dozens of other organizations throughout the Boston area.

A long-time resident of Boston’s Back Bay, Beth was an active member of the community as she raised her two children: she served as treasurer of the Clarendon Street Playground and was an avid supporter of the Hill House Community Center.