The Sarasota real estate market continues to be in demand. Like most of Florida, supply is not keeping up with the needs at nearly every price point. Luxury properties are no exception. Sarasota is seeing significant construction in its downtown region as well as new or renovated waterfront properties.
At Coldwell Banker, we wanted to identify home trends emerging in the luxury real estate market. And who better to ask than our certified Global Luxury Property Specialists, who tour luxury properties on a daily basis?
These expert insights were compiled into our inaugural Best of the Best. It offers insights into what makes a luxury home stand out in the marketplace, what products luxury consumers can’t live without, and defines what will remain top-of-mind and trending into 2024.
The four Best of the Best trends include:
1. 72% of our luxury experts say a chef’s kitchen, designed and equipped to satisfy the needs of a professional chef, is the most popular home amenity among luxury homeowners. With the most up-to-date appliances and features, trends in luxury kitchens include having double-duty islands, statement hoods, paneled refrigerators, smart appliances, and slab countertops.
2. The biggest trend in luxury outdoor spaces, according to 66% of our Luxury Property Specialists surveyed, is the merging of indoor and outdoor living. With outdoor living areas, there’s the ability to add an increased sense of flow and spaces serve as a continuation of the home sanctuary. Combining these features also means larger social areas for guests and gatherings.
And what better place to take advantage of this luxury trend than in sunny Florida? Our luxury specialists are even seeing clients incorporate vacation-inspired luxury outdoor amenities such as water features, fire pits and outdoor living rooms.
3. Dream homes increasingly reflect that luxury consumers are prioritizing self-care and overall health and wellness. Spa-like bathrooms are popular, serving as a personal oasis within the home. The top two luxury bathroom trends are freestanding soaking tubs and hydrotherapy showers. Spa-design elements, heated floors, and saunas are also popular must-have luxury amenities.
4. Advanced smart home technology is also shaping today’s luxury home, especially those areas of utmost importance to each individual affluent homeowner. Like many of the luxury amenities mentioned here, this technology can help personalize the experience, which is the very definition of luxury. For one owner this might be privacy and security, while for another it’s setting up the technology to assist with running and maintaining the household.
According to our Luxury Property Specialists, the top two luxury smart home tech amenities are fully integrated home systems (62%) and smart thermostats (54%).
The luxury expert insights from Best of the Best are reshaping what today’s modern luxury home looks like as well as what will remain top-of-mind and trending in 2024.
Duff Rubin is Southeast Regional President of Coldwell Banker Realty.
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