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How the Pandemic is Shaping the Luxury Market

Joujou-An Exceptional ExperienceThe luxury segment has been the unexpected surprise of 2020. The median price of luxury single-family homes has increased by 4.8% since January. Sales volume has doubled since May. Major life changes due to the pandemic seem to be responsible for the spike in luxury home demand. Single-family homes in locations that offer more space and greater freedom are at a premium. This migration of wealth has led to new demographics that are shaping the luxury real estate landscape this year.

Intangibles such as family, health, and safety have become higher priorities and have led to finding a home that suits these needs. Teleworking, distance learning, early retirement, and a mass shut-down of brick-and-mortar businesses have refocused the need to live in a certain place. In high demand are properties that offer proximity to nature, security & safety, and amenities like pools, home gyms, flex spaces, and rec rooms.

A great luxury agent brings local knowledge and connections that will guide buyers as they make key life decisions for their families. Now more than ever you need this expertise. With over 35 years of experience selling real estate and as a number one agent in the Danville/Blackhawk area, you can count on the Chawla Real Estate Team to deliver the expertise you and your family need to make your next move safely and with confidence.

Wishing you all the best! We would love to hear from you so don’t hesitate to reach out.

–Joujou and the Chawla Real Estate Team

Read the Compass Norcal + Lake Tahoe Luxury Market Report for December 2020

Contact Joujou: 510 406 4836 | or Email Joujou.Chawla@ChawlaRealEstate.com

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Chawla Real Estate | 3840 Blackhawk Rd Suite100, Danville, CA 94506