Currently, there are about 26 homes worldwide with a price point of $100 million or more that are on the market. With list prices like that, these properties offer some incredible eye candy. As a general rule, homes in this price range stay on the market for 3 to 5 years as there are a very limited number of buyers.
So far in 2016, only three $100 million+ homes have sold, including the Playboy mansion, which was originally priced at $200 million but sold for half of that (possibly because Hugh Heffner continuing to inhabit the home came included as part of the deal). Over the last few years, the number of these high priced properties that sold peaked at five.
Owners of such homes normally don't have to sell while buyers don't have to buy. A considerable number of sellers also prefer discretion and offer their property assets as off-market 'whisper listings.' It is also rare that there will be bidding wars since those looking to purchase such a property are minimal.
As for buyers, many are in search of the right investment property that can help them grow their wealth. They are very discerning and will wait until they find the ideal mansion. Most have a list of key attributes that include:
- One-of-a-kind property
- Architectural or historic significance
- Impeccable views, grounds and privacy
Of the 20 or so properties currently for sale, 9 were located in the Los Angeles area, 4 in New York, 3 in France while the remainder were scattered about.
Below are photos of just some of these amazing estates.
For those of you in the market to buy or sell in San Francisco or Marin County, The Costa Group can most definitely help! We live and work here and can be an incredible asset to making your personal real estate dreams come true.
Information and photos from Blomberg.com