North Bay Luxury Real Estate – What is the Luxury Market?

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North Bay Luxury Real Estate - Luxury Market Definition!

Marin and Sonoma counties hold some of the most gorgeous, unique luxury properties on the market today.  But how do you sell yours?  How do you find one to purchase?  The high end market can seem like a gray area, without a knowledgeable guide.  Let Tracy be your guide.

If you do not have time to watch the video, here is a transcript of the discussion:

“Hi there.  This is Tracy Otsuka with Sotheby’s International Realty.

I’m often asked by clients to give them a definition of what is the luxury market?  Where does the luxury market start?  I think there’s a number of different answers to that.  Some people think, it’s a million and over, but that really depends on where you live.  You can probably get a starter home in Ross for a million dollars, but I don’t think that you would ever call that a luxury property.  You can’t buy anything in Belvedere at all for a million or under.

The luxury market is typically classified as the top 5% to 10% of actual sales in any given market.  For example, the top 10% in Sonoma County would be anything $725,000 or above and in Marin it would be $1.7 million and above.  The top 5% of the market in Sonoma County would be a million dollars and over and for Marin County it would be $2.3 million and over.

If I was forced to choose a number, I’d probably say that the luxury real estate market is one million and over in Sonoma and $1.7 million and over in Marin and although that’s the market that I specialize in, for various reasons I end up working some transactions that are quite a bit less than that.  I might have a great client who refers me business and you don’t want to turn a great client down.  For that reason, I’ve adopted probably a different definition of the luxury market and what a luxury real estate experience is, and to me, it really has very little to do with price point and everything to do with delivering above and beyond what is essential or necessary.

To me the luxury real estate experience is a mindset.  It’s the small details that differentiate an experience from what is normal or average.  In that way, I market every property as if it’s a luxury property.  I can’t make a property look its best without professional photography and staging.  It doesn’t really matter what price point we’re talking about.  That’s what I do.  Because it’s really the only way that I know to get the highest sales price possible.  I don’t know how to list a property any other way because good enough isn’t.

I’d love to hear your comments.  My name is Tracy Otsuka.  I’m with Sotheby’s International Realty.  You can e-mail me at tracy@tracyotsuka·com.  I would love to hear from you.  We’ll talk later.  Bye, bye.”


Sell, or find, your unique luxury property today.  Call Tracy at 415-668-2020.




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