Gary Dolch- Ultra Luxury Report

Page 1

2021

Devlin Place, Sunset Strip

U L T R A – L U X U RY

THE $10M+ NATIONAL L U X U RY R E P O RT



WE REPRESENT THE NAT I O N S MO S T R E M A R K A B L E P RO P E RT I E S A N D O F F E R A N E L E VAT E D A P P ROA C H , C U R AT E D T O M E E T T H E H I G H E S T L U X U RY S TA N D A R D .

L U X U RY, UN L I K E A N Y O T H E R B RO K E R A G E L U X U RYAT C O M PA S S . C O M


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Proprietary database, ACRIS (Automated City Register Information System)


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A YEAR IN REVIEW The Compass Luxury Division proudly presents its first Ultra-Luxury Report. More than thirty markets were analyzed, exploring residential home sales priced at $10 million and above in 2021. The comprehensive data highlights unprecedented growth in the ultra-luxury category. From Malibu to Montauk, sales of lavish abodes reached extraordinary highs, showcasing strong consumer confidence in the long-term potential for appreciation and a renewed affinity for distinguished living at home. From coast to coast, the majority of markets covered experienced significant gains in activity at the ultra-luxury price segment, such as Austin, whose total number of sales jumped 450 percent from 2020 to 2021. Likewise, the year-over-year sales volume of $10 million-plus homes rose in many markets, such as Long Island, which saw an increase of 853.99 percent. Compass luxury agents largely credit lofty wealth creation among high-net-worth individuals for this unparalleled success. In closing, today more than before, people are coming together, having a renewed regard for friends and family and for dwellings that double as sanctuaries. The past year demonstrated that a place to call home is more important than ever.

LENA JOHNSON

FELIPE HERNANDEZ


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TA B L E O F C O N T E N T S

C A L I F O R N I A 08 C O L O R A D O 20 C O N N E C T I C U T 26 T H E D MV 30 F L O R I D A 32 HAWAII 44 I D A H O 46 M A S S A C H U S E T T S 48 N E W YO R K 5 0 N E W J E R S E Y 60 P E N N S Y LVA N I A 62 T E X A S 64 WA S H I N G T O N 68 W YO M I N G 70


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35M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY COLLEEN FORAKER

SA N F R A NCI S CO B YA A R E A CA L I F O R N I A

17 1 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +83.87% C H A N G E Y E A R OV E R Y E A R

2.9B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +86.88% C H A N G E Y E A R OV E R Y E A R


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S A N F R A N C I S C O B YA A R E A

1was 20 abanneryearforluxuryrealestateinSanrancisco. F very E timethatI thoughtthesingle-familyluxuryhomemarketcouldntgetanyhotter,itjustkept ongoingup!Wesawarecordnumberofluxurytransactionsinthe10million-51 millionrangeandpricespushingabovethelevelsseenin20.Therewasalittleless enthusiasmatpricepointsover5million, 1 butstillsomeveryrobustsales.Mostof thebuyerswerelocalandalreadySanrancisco F residentswithrootsintheCity.We areexcitedtobringtothemarketaselectnumberofluxurylistingsthisspring,andI anticipatethatdemandforpremierlocations,largelotsizes,andexcellentviewswill remainhighwithaparticularemphasisondonehomes.

N I NA H AT VA N Y San Francisco Bay Area (SF City Proper)

Therewasasubstantialincreaseddemandforluxurypropertiesfrom20-21.The 20 pandemicacceleratedpeoplesdecision-makingprocess,andwhenlifedecisionsare beingmadetherealestatemarketpicksup.Ibelievetheluxurysegmentwillcontinue tobeveryactive.ere H inSanrancisco F ourlackofinventorydrivesthemarket.There ispentupbuyerdemandandanuary J hasalreadybeenverybusy.or F themostpartour high-endmarketplaceisdrivenbylocalsbutwearebeginningtoseetheinternational buyerreturn.Thisputsaddedpressureonthelimitedinventory.Somuchoftheluxury marketisdrivenbylifestyle.Buyersarelookingforbonusspacetohaveprivateoffices, workoutfacilities,gourmetkitchens,luxuriousbathrooms,beautifulartandwellness generation.aving H yourhomebeasanctuaryismoreimportantthanever.Warmcolors arecomingback.Naturaltextures,andsoothingtextilesarepopular.Nowmorethan ever,ourhomesarethecentersofourlives.

M A X A MO U R San Francisco Bay Area (San Francisco) Source: NorCal MLS Alliance System & BrokerMetrics, Regions include Sonoma, Napa, Marin, San Francisco, San Mateo, Contra Costa, Alameda, Santa Clara, Santa Cruz, and Monterey (does not include Solano County), Based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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46M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY M A RY K L E I N G A RT N E R A N D RYA N M I T C H E L L

L A K E TA H O E C A L I F O R N I A G N E VA D A

31 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +48% C H A N G E Y E A R OV E R Y E A R

560M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +45% C H A N G E Y E A R OV E R Y E A R


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L A K E TA H O E

Especiallyintheluxurymarket,wehavealotofbuyerswhoare driventoNevadabythetaxadvantagesandpoliticalclimatein alifornia. C f I thepoliticalclimatestaysthesameinalifornia, C think I wewillcontinuetoseeaninfluxofhigh-net-worthindividuals movingtoNevada. M A RY K L E I N G A RT N E R Tahoe

Early indicators suggest a continuation of 201 into 20 at a potentiallymoreconservativepace.uyers B arelookingforprivacy, aclosenesstonatureandeasyaccesstotheSanrancisco F BayArea. SCOTT WILLERS Tahoe

ccess A tothegreatoutdoorsreallydroveincreasedbuyerdemand throughoutthepandemic.Theake L Tahoemarketreachedrecord highsin20and1,and 20 isholdingstrongin2as 0 theappeal ofmountainlivingcontinuestobeatoppriorityforluxurybuyers in the Bay Area and beyond. A supply-constrained and fiercely competitivemarkettestsbuyersresolve,butthehighdemandcontinues. JA M I S O N B L A I R Tahoe Source: Tahoe Sierra MLS, South Tahoe MLS, Incline Village MLS, Northern Nevada Regional MLS, Regions include West Shore, North Shore, East Shore, Incline Village, South Lake Tahoe, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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25M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY SUZA NN E P ER K I NS

S A N TA BA R BA R A G MO N T E C I T O CA L I F O R N I A

54 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +157.14% C H A N G E Y E A R OV E R Y E A R

911M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +123.05% C H A N G E Y E A R OV E R Y E A R


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S A N TA B A R B A R A G MO N T E C I T O

Demandcontinuestoexceedavailablepropertiesasurbanites continuetoseektheunrivaledlifestyleofferedinMontecitoand SantaBarbara,purchasinglargehomesongenerous-sizedproperties inordertohunkerdowninluxuryduringCovidandwiththeability toworkremotelyfromhome.Weexpectthesetrendstocontinue throughout2.0 L U K E E B B I N ( T H E E B B I N G RO U P ) Santa Barbara/Montecito

Historically,the10million-plusmarketinSantaBarbarawasmostly limitedtooceanfrontrealestate,Montecito,andope H Ranch.In the ,1 20 newparadigmofunrelentingdemandfromhigh-endbuyers fromacrosstheworldwantingtoliveinthiscommunityhaserased thosegeographicboundaries,extendingtheultra-high-endmarket throughoutthegreaterSantaBarbaraarea.WhileSpanishColonial architectureisoneofthedefiningcharacteristicsofthismagnificent coastallandscape,wereseeingbuyersintheultra-luxurysegmenttend towardmorecontemporaryandmodernistarchitecture,reflecting theirdiversifiedtastes.WeexpectthistrendtocontinueasSanta Barbarafurthersolidifiesitselfasaworld-classplacetocallhome. PA U L S U D I N G ( S U D I N G / MU R P H Y G RO U P ) Santa Barbara/Montecito

Source: SBMLS and PlanetRE, Regions include Santa Barbara (does not include Central Coast), based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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$44M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY S A L YL F O R S T E R J O N E S A N D S H A UNA WA L T E R S

GREATER LO S A NGELE S CA L I F O R N I A

628 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +90.30% C H A N G E Y E A R OV E R Y E A R

10.6B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +97.50% C H A N G E Y E A R OV E R Y E A R


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G R E AT E R L O S A N G E L E S

Themajorityofthetoponepercenthaveseenadramatic increaseinoverallwealth.Manylookatluxuryrealestate asasafeandappreciatingassetthatsahedgeagainstthe inflation.Therearemanybuyerspursuingaveryfewprime propertieswhichhascreatedastrongsellersmarketcausing pricestoexplode. CA R L G A M B I N O Southern California (Beverly Hills)

Thehousingboom,firstinspiredbytheabilityofmany industriestoofferremotework,hasbeenmagnifiedas homeownersnotonlyseekmorespaceandcravemore amenities,butplentydesiresecondhomesaltogether. While the famous bidding wars have slightly subsided, appropriatelypricedhomesarestillreceivingmultipleoffers andsellingaboveasking.So,themarketremainsverydifficult forbuyers.Weexpectthisyeartobenodifferent. S A L YL F O R S T E R J O N E S Southern California (Beverly Hills)

Source: MLS via Terradatum’s BrokerMetrics, Regions include Los Angeles County, Property type(s) include single-family home, condominium, townhouse and residential land listings, 01/01/20-12/31/20 & 01/01/21-12/31/21


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13.9M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY BRETT COMBS

SA N DI EG O CA L I F O R N I A

44 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +84% C H A N G E Y E A R OV E R Y E A R

621M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +68.79% C H A N G E Y E A R OV E R Y E A R


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SA N DI EG O

Theultra-luxurymarketinSanDiegoisonfire!Thereismore activitynowonpropertiesover10million-5million 1 than inthelastfourtove fi months.Wehavemultipleshowingson everythingfromhigh-endnished fi homestolargeparcelsofland. Theuber-wealthyareconvertingtheirprofi 1 20 tsintohardassets. BRETT DICKINSON San Diego

ThevalueoftheSanDiegomarketisnolongerasecret.While Saniegans D havetypicallythoughtourmarketwasexpensive, anewbuyerpoolfrommoreexpensiveWestCoastmarketssuch asSanrancisco F andLosAngelesaswellasNewYorkandChicago havefoundexceptionalvaluehere.Newlyadoptedworkfrom anywherepoliciesbroughtonbythepandemichasallowedawellpaidworkforceincludingmanyC-levelexecutives,torelocatetoSan Diegodrivingbothdemandandpricesup.Manyofthehomesselling intheultra-luxurypricepointof10million-plusareintheexclusive neighborhoodsofa L olla, J DelMar,RanchoSantae, F andCoronado. M A RC L O T Z O F San Diego

Source: NSDCAR/SDAR InfoSparks, Regions include San Diego County, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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43M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 L I S T E D B Y RO B G I E M

70 M H I G H E S T B U Y E RR E P R E S E N T E D C O M PA S S R E G I O NA L S A L E , 2 0 2 1 S O L D B Y M WA

O R A N G E C O UN T Y CA L I F O R N I A

101 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +114.89% C H A N G E Y E A R OV E R Y E A R

1.5B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +128.88% C H A N G E Y E A R OV E R Y E A R


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O R A N G E C O UN T Y

Oursisasmallmarket,yetonewithextraordinarydemand.Wecontinue toattractseasonalbuyersfromacrosstheU.S.interestedinourperfect combinationoflocation,weather,amenities,andeaseofaccess.Wehave fewerultra-primepropertiesthananyothermarketinthecountryatthis pricepointandzeroopportunitiesforexpansion,yetweseemoreand morebuyerseveryyear. RO B G I E M Orange County

InQ1of2,we 0 alreadyseesimilarifnotmoredemandforultraluxuriouscustomestatehomesalongalifornia C sOrangeCountycoastal rivieracomparedto1.Buyers 20 fromaroundtheglobecontinuetobe drawntoOrangeCountyscoastalcommunitiesduetotheregionhaving suchunparallelednaturalbeauty,deepwaterharbors,andthefactthat coastalOrangeCountyoffersalloftheconvenienceandamenitiesof alargemetropolitancity.Buyerscontinuetosearchformorespace, andmanysecondhomesareturningintoprimaryresidences.Trophy propertiesandlotscontinuetocommandpremiumsduetothefresh oceanbreezes,privacyand , nearbybest-in-classshoppingandcommerce. A R L E N R AU B A C H Orange County

Source: California Regional MLS, Regions include Newport Beach (Newport Coast and Corona del Mar), Laguna Beach, Dana Point, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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$40M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY D O UG L E I B I N G E R

ASPEN C OL OR A D O

96 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — -4.95% C H A N G E Y E A R OV E R Y E A R

1.8B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +11.71% C H A N G E Y E A R OV E R Y E A R


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ASPEN

spen A realestateenjoyedanotherbanner,record-breaking yearin1,with 20 buyerslargelycomingfromcitieslike NewYork,Dallas,Chicago,and.ALookingpresentlyat we ,2 0 haveanite fi amountofinventorythere ( isnoland intheproximityofdowntownthatcanbedeveloped),and wehavemorebuyersthansellers. STEVEN SHANE Aspen

The1market 20 wasthemostrobustonrecordforspen. A ustifying J a10million-pluspurchaseinaresortmarketlike spen A wasamucheasierjustification.Nowpeoplearerunning theirNewYorkity C businesslivinginspen. A may 20 falloff inoverallactivitysimplybecausewehavelimitedinventory. D O UG L E I B I N G E R Aspen

Source: Aspen MLS, Regions include Aspen, Snowmass, Woody Creek, Snowmass Village, Basalt, Carbondale, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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17M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY B I L L AF N D E L

T E LLU R I DE C OL OR A D O

10 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +150% C H A N G E Y E A R OV E R Y E A R

18 6 M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +319.39% C H A N G E Y E A R OV E R Y E A R


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T E LLU R I DE

ike L manynicheresortmarketsacrosstheU.S.,thedestinationmountain communityofTelluride,Coloradohasseennumerousrecord-pricedsales achievedacrossnearlyallpropertysegments. Double-digitnumbersofsalesrangingfrom10million-39millionindicate sophisticatedconsumersarewillingtocommitevermoresubstantialsums toassetsinbeautiful,supply-constrainedsettings. Pricingforthehighestqualityresidentialpropertieshaseclipsed3,0/ squarefootinthehistoricdowntownarea,whiletwocelebrity-ownedestates setall-timepricerecordswithintheski-in/ski-outenclaveofMountainVillage andoutlyingcommunityofAldasoroRanch. Iexpecttoseerecordsalesrecordedforlargetrophyranchesinthemonths aheadashigh-net-worthbuyerslooktolandbanklargeassemblagesofacreage incloseproximitytomajorrecreationalresorts. Overall,Ithinktransactionalvolumewillbedownmarkedlyasthelack ofsaleableinventoryinthepipelinebeginstoslowsalesvolumewhile continuingtopushpricingup.Thecontinuedinflationarycyclegripping thebroadereconomywilldriveconstructioncostsabovesquare 1,0/ foot foranyqualityconstruction.Plannedinterestratehikesbytheed F willbegin toerodeaffordabilityforprice-sensitivebuyersrequiringunder2million. Marketsinthehighlysought-aftermountaincommunitiesofTelluride,spen, A Vail,ackson J ole H andParkCity/DeerValleyshouldremainactivethrough thesummerseasonastheconcentrationofwealththatdeepenedthroughout Covidcontinuestodeploydiscretionaryfundsinlifestylepurchases. BILL

AF N D E L

Telluride Source: Telluride MLS, Regions include San Miguel County, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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$20M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY TYE STO CKTON

VAIL C OL OR A D O

28 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +27.27% C H A N G E Y E A R OV E R Y E A R

413M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +20.09% C H A N G E Y E A R OV E R Y E A R


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VAIL

ust J when we felt we couldnt top 20 , the Vail Valley pushedtonearlybillion 4 insalesby — farourbiggestyear inhistory.Leadingthechargeonthehighendofthemarket weresalesabove10millionwhichseemedtobemore commonplacedespitelowinventory.Wesawcontinued buyerinterestfromMexicoCity,Texas,alifornia, C Florida andthenortheastasbuyersscoopedupcondos,homes, andland.Pricescontinuetotrendhigherandweexpect thistrendbeyond2.0 TYE STO CKTON Vail

Covidhastaughtpeoplehowtoworkfromhomeorremote locationsandweareseeingthemspendmoretimeinthe mountains.Wewilllikelyseeanincreaseinpricingin20 withmultiplebuyersinterestedinashortsupplyofinventory. DVA I D A D K I N S Beaver Creek

Source: Vail MLS, Regions include Vail Valley (Vail and Beaver Creek), based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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12.2M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY B R I A N M I LT O N

GREENWICH CONN EC T IC U T

15 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — 0% C H A N G E Y E A R OV E R Y E A R

272 M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +25.17% C H A N G E Y E A R OV E R Y E A R


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GREENWICH

15M

H I G H E S T B U Y E R- R E P R E S E N T E D C O M PA S S R E G I O NA L S A L E , 2 0 2 1 S O L D B Y B I L L A N D RU S S

Greenwichwasanactiveandveryhealthymarketplacein20but1surpassed 20 the dollarvolumein20byoverY.30 Greenwichhadatotalsalesvolumein1that 20 was overbillion 3 insales.Wearecurrentlystrugglingwithlowinventory.Thelackofproperties toshowincombinationwiththeimpendinginterestrateincreaseiscreatingabuyerpool ofveryaggressivebidding.Thenextcoupleofmonthswillgreatlydeterminethedirection ofourmarket. Wehavealsoseenawaveofalifornia C buyers,especiallyfromthe.Aarea, L andofcourse, ourinternationalbuyerisaverystrongpurchaserwhoseattentionisfocusedonGreenwich andairfi F eldCounty.

S H E L YL T R E T T E R YN L CH Greenwich

or F foresee I ,2 0 acontinuationofthestrongrealestatemarketinreenwich, G andwhile itmaynolongerbefrenetic,itwillbeenergetic.uxury L marketbuyersarelookingfortopnotchqualityconstructioninprimelocations.Thechallengeforthemwillcontinuetobe theverylimitedinventory.tA thistime,reenwich G hasarecord-lownumberofhouseson themarket.Thosethatsucceedwillbetheoneswithmomentum.

B I L L A N D RU S S Greenwich

Source: Greenwich FlexMLS, Regions include Greenwich, Property type(s) include single family, 01/01/20-12/31/20 & 01/01/21-12/31/21


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7M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 * LI ST E D BY KEVIN SNEDD ON G ALEXANDRA FRIEDMAN ( T H E P R I VAT E C L I E N T TEAM)

AF I R F I E L D CONN EC T IC U T

2

$20M

T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — - 50% C H A N G E Y E A R OV E R Y E A R

TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — -65.08% C H A N G E Y E A R OV E R Y E A R


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AF I R F I E L D

Buyers who decided to wait out the Covid buying surge in 20 had less inventory to choosefromin1and 20 lessopportunitytonegotiatethetermsofthedeal.Ithinkwewill continuetoseehistoricallylowdaysonmarketintheluxurysector.lients C thatlostoutin the1market 20 arepoisedtobuy,andlimitedinventorywillcontinuetobethechallenge. Buyers continue to herald from New York City and Brooklyn, but the demographic is evolvingoutsideofthetri-statearea,andIhavebuyersfromasfarwestasSeattlelooking tomovetoairfi F eldCounty.Wishlistsin1were 20 focusedonpoolsandhomeoffices. Thattrendisgoingtocontinuein2as 0 thework-from-homemodelevolves.Buyers arelookingtohaveahomebasethatcombinesdailylifewithleisureandwork.

ASHLEY DINEEN Darien

Whilethedemandforluxuryhomesinairfi F eldCountyremainsstrong,thescarcityof inventorypresentsachallenge.In1,only 20 twohomespricedhigherthan10million soldversusve fi homesin20.Overthepasttwoyears,alltheluxuryhomesthatsoldin thismarketwerewaterfrontproperties.Theinfluxofpeoplecurrentlylookingforluxury propertiesareatanunprecedentedlevel.Sellersremainincontrolandarecommandinghigh salespricesforthesespecialproperties.Inventorylevelsareatanall-timelowandthebuyer poolislargerthaneverasinterestratesremainveryfavorable.ndividuals I purchasingcountr estatesareseekingprivacyandoftenwantapropertywithmultipleoutbuildingsforguests andextendedfamilymembers.Weveseenaninterestingmixofluxuryconsumerswhoare interestedineitheraturnkeyhomeorthosewhowantthechallengeofamajorrenovation orperhapsbuildingfromthegroundup.

M A RY E L L E N G A L L A G H E R Westport Source: SmartMLS, Regions include Fairfield County (does not include Greenwich), Property type(s) include single family, 01/01/20-12/31/20 & 01/01/21-12/31/21. *Compass did not represent a $10M+ list-side transaction in this region in 2021.


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8.3M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 * LI ST E D BY PAT R I C K C H A U V I N

D. C . M A RY L A N D G V I RG I N I A T H E D MV

9

$142M

T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — 0% C H A N G E Y E A R OV E R Y E A R

TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — -14.89% C H A N G E Y E A R OV E R Y E A R


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D . C . M A RY L A N D G V I RG I N I A

$12M

H I G H E S T B U Y E R- R E P R E S E N T E D C O M PA S S R E G I O NA L S A L E , 2 0 2 1 S O L D B Y C I N DY P O L K G B R A N DY G R E E N W E L L

Clientshaveincludedrepeatbuyersandsellersaswellasnewcomersfrom alifornia, C Boston,PhiladelphiaandFlorida.ThepowerofCompasshas allowedustoalsoservereferralbuyersfromourwonderfulcolleagues inthelimited,localultra-luxurymarket.Ourlast10million-plussale wasaompass C referralwhopurchasedanoff-marketpropertyweunveiled throughourdeep,localnetwork. C I N DY P O L K G B R A N DY G R E E N W E L L Virginia

Buyersintheluxurymarketnowarelookingforbrandnewconstruction. Theydontwanttodoanysortofremodelingorupdating.Theyareconcerned withsupplychaindelaysandalackofcontractorsavailableduetodemand. Theyrealsolookingforguesthousesorroomforelderlyfamilyornannies. In2,Iforecast 0 limitedinventoryandpricestocontinuetoriseaswellas alackoflandfornewconstructionhomes. S H E R I F A B DA L L A D.C., Maryland, & Virginia

Source: Bright MLS, Regions include Washington Metro Area (DC, MD and VA), based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21 *Compass did not represent a $10M+ list-side transaction in this region in 2021.


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30M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY LI Z HO GA N

M I A M I B E AC H , B YA P O I N T, S U R F S I D E , BA L H A R BOU R F L O R I DA

18 1 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +187.3% C H A N G E Y E A R OV E R Y E A R

3B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +208.49% C H A N G E Y E A R OV E R Y E A R


33

M I A M I B E A C H , B YA P O I N T, S U R F S I D E , B A L H A R B O U R

marked 1 20 aneweraforSouthlorida F realestate.Weexperienced an unprecedented migration of wealth, with high-net-worth individualsattractedtoFloridastaxbenefitsandqualityoflife thatyoucantgetanywhereelseintheworld.Ultra-luxuryhome andcondosalesskyrocketed,andpricespushedhigherasdemand grewandinventoryshrunk.Buyersin1remained 20 largely domestic,withsignificantwealthmigrationofindividualsand businessesrelocatingandestablishingofficeshere.oreign F buyers werelargelyabsentfromthemarketduetotravelrestrictions,butas bordersbegantoopenupattheendoftheyear,thosebuyersbegan returningtothemarketandwillcontinuetodrivedemandin2.0 C H A D C A R RO L L Miami-Dade County

Primaryresidencebuyersarelookingtofindmodernarchitecture anddesigninwalkable,urbanlocationsfromBrickelltoMidtown, as L OlasandWestPalmBeachoroceanfront,ultra-luxuryfrom Southeach B toSingersland. I Single-familyhasexplodedwithbuyers lookingforsuburbssimilartoreenwich G andeverly B ills H whichhas madethemillion-plus 01 marketexplodetorecordslevelsthroughout coastalSouthFloridafromCoralGablestoupiter J sland. I A L E X M I R A N DA Miami-Dade County Source: Florida MLS, Regions include Miami Beach, Bay Point, Surfside, Bal Harbour, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


34

29M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY RU T H I E A N D ET H A N AS S OU LI N E

C O C O N U T G ROV E , C OR A L GA BLE S, K E Y B I S C YA N E F L O R I DA

50 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +233.33% C H A N G E Y E A R OV E R Y E A R

822M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +194.45% C H A N G E Y E A R OV E R Y E A R


35

C O C O N U T G ROV E , C O R A L G A B L E S , K E Y B I S C YA N E

TheMiamiluxurymarkethashadanincrediblerun.Sales of10million-plushomeshaveincreased58Y1 overthelast twoyears.Floridasopenness,qualityoflifeandespecially lowtaxeshaveenticedwealthybuyersfromacrossthe nation.WeareseeingaboutY04 ofbuyersfromalifornia, C Y04 fromNewYorkandtherestfromotherhightaxstates. Miamihasbecomethenewtechandcryptocapitalwhich hasfueledenormouswealthcreationandbecomeadriver oftheluxurymarket. LI Z HO GA N Miami-Dade County

Source: Florida MLS, Regions include Coconut Grove, Coral Gables, South Miami, Key Biscayne, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


36

13M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY V I N C E N T B R A N DA

NA PL E S F L O R I DA

65 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +170.83% C H A N G E Y E A R OV E R Y E A R

1B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +220.01% C H A N G E Y E A R OV E R Y E A R


37

NA PL E S

Themovementin1was 20 substantialacrosstheentire areaofNaplesbutwiththenumbersnearlytriplingfrom ,you 20 cantellthattheultra-wealthyaremakingtheir waytoNaples.BuyersfromallovertheU.S.werewillingto payforwhattheywantandmoretogetthepropertythat wasrightfortheirfamilies. D E N N Y B OW E R S Naples

Whenlookingatthe10million-plusluxurymarket,oneof thebigmoveswesawin1versus 20 20isthenumberof homesthatwentfrom8million-plusrangetothe10million range,andselling.Whileourtopfeedermarketsfromthe midwestandnortheastcontinuetofuelthemarket,weare nowseeingmorebuyersfromalifornia C thaninthepast.The lackofinventorywillcontinuetobeachallengein2and 0 creativityinhelpingbuyerssecureahomewillbeimportant. JOE BELZ Naples

Source: SWFLA MLS, Regions include Naples, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


38

23M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY TIM ELMES

F O RT L A U D E R D A L E G H I L L S B O RO UG H B E CA H F L O R I DA

27

$422M

T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +107.69% C H A N G E Y E A R OV E R Y E A R

TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +91.73% C H A N G E Y E A R OV E R Y E A R


39

F O RT L A U D E R D A L E A N D H I L L S B O RO UG H B E A C H

Theluxurymarketexperiencedashortertimeindaysonmarket tosell.20overallhadmoresellerssellingtheirhomesversus 1where 20 agreaternumberofsalesweredevelopersalesat unprecedentednumbers. 2will 0 havelessinventorywithhigherpricepointscreating biddingwarsandstrategicnegotiations.Newconstructionhomes areandwillsellbeforebreakingground.Wearestillinasellers marketandthisisnotgoingtochangeanytimesoon. Ourbuyersarecomingfromalifornia, C Texas,NewYork,New ersey, J Massachusetts(thenortheast).Weareseeingalotmore urbanbuyerscomingtoSouthFloridalookingforlocationswith walkabilityordirectlyonthewater. B uyers arelookingforcutting-edgetechnologyinspiredby contemporarydesignthattakesadvantageofourtropical lifestyle.ort F auderdale, L Floridaisknownforitsboatingand beachfrontlifestyles.Areasindemandcanbefoundinarbor H Beach,RioVista,as L Olassles, I SunriseIntracoastal,CoralRidge, CoralRidgeCountryClub,BayColonyandSeaRanchakes. L PET ER BA R K I N Fort Lauderdale

Source: Beaches MLS Broward County, Regions include Fort Lauderdale and Hillsborough Beach, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


40

$22M H I G H E S T B U Y E R- A N D S E L L E R- R E P R E S E N T E D C O M PA S S R E G I O NA L SA LE, 2 0 21 LI ST E D G S OLD BY MICHAEL COSTELLO

17. 6 8 M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY C H R I S DE I T Z

PA L M B E A C H F L O R I DA

203 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +103% C H A N G E Y E A R OV E R Y E A R

3.75B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +158.62% C H A N G E Y E A R OV E R Y E A R


41

PA L M B E A C H

ThePalmBeachareahasalwaysbeenknownforitsluxuryoceanfront residencesandasaplaygroundofsecondhomesforAmericaselite,but overthelasttwoyearswehaveseenanunprecedentedincreaseinultrahigh-net-worthfamiliesmovingtoourareamakingPalmBeachtheirfulltimehomes.upiter J andDelrayBeachhaveemergedaskeyplayersinthe luxuryrealestatespace,particularlyforyoungwealthybuyers,whilethe attractionofhigh-net-worthindividualstoPalmBeachandManalapan, makingoceanfrontpropertiestheirprimaryresidences,demonstrates that this wave of relocations to South Florida isnt simply a trend, but insteadwillgodowninhistoryasoneofthegreatestmigrationsofwealth ofourgeneration. H O L YL M E Y E R L UC A S Jupiter

Whenthepandemicfirsthitinearly,it 20 wasaveryuncertaintime forPalmBeachrealestate.Sincethen,quarterafterquarter,themarket hasgottenconsistentlystrongerwiththeshrinkinginventorydrivingprices higherandhigher.Incredibly,insomecases,homepriceswereupY60 to Y57 overthepastto 21 months! 51 Withinventorystillhistoricallylowand strongbuyerdemandcontinuing,allindicationspointtoanotherbanner yearin2for 0 PalmBeachrealestate. STEVE HALL Palm Beach

Source: Beaches MLS Palm Beach County, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


42

7M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY H UG H E S S H E L T O N G RO U P

TA M PA B YA F L O R I DA

7

$100M

T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — N/A% N O R E P O RT E D 1 0 M$ SA LE S I N 2 0 2 0

TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — N/A% N O R E P O RT E D 1 0 M$ SA LE S I N 2 0 2 0


43

TA M PA B YA

TheluxurymarketinTampaay B explodedingarnering 1 20 national attention with the sale of Derek eter J s home for 2million,whichwasthehighestpricedhometoeversell inTampaBay.In1we 20 hadsevensalesover10million comparedtos20 highestsalewhichwas.3million. 9 Tampa Bay is definitely on the radar for luxury home buyers.Ourwaterfrontpriceshavemorethandoubledfrom 20to2.The 0 ughes H SheltonGrouprepresentsseveral developerswhoareplanningspecluxuryhomesthatwillbe pricedabove10millionin2.We 0 alsohavelistedahome inSouthTampasexclusiveSunsetParkfor12million. J E F F S H E LT O N Tampa Bay

Source: Stellar MLS, Regions include Tampa Bay, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


44

27M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY RO N I M A R L E Y

B I G I S L A N D, K A UA I , OA H U, MAUI HAWAII

78 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +225% C H A N G E Y E A R OV E R Y E A R

1.1B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +158.37% C H A N G E Y E A R OV E R Y E A R


45

B I G I S L A N D , K A UA I , OA H U, M A U I

45M

H I G H E S T B U Y E R- R E P R E S E N T E D C O M PA S S R E G I O NA L S A L E , 2 0 2 1 S O L D B Y A N N E H O G A N P E R RY

Hawaii in general and Maui, in particular, have been found by ultra-high-net-worth individuals in the luxury real estate market. Buyers from the U.S. mainland and Canada are coming to enjoy the Maui lifestyle offering thenest fi year-roundweather,cleanair,safety,andprivacy. Thelackofinventorycombinedwiththedemandforluxury realestateiscontinuingin2.We 0 seepricesholdingand, atthistime,mostlikelyincreasing. D E N N I S RU S H Maui

Source: Hawaii MLS, Regions include Oahu, Big Island of Hawaii, Kauai, Maui, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


46

15M H I G H E S T C O M PA S S R E G I O NA L L I S T PRICE, 2021 LI ST E D BY L I N DA B A D E L L G L AU R E N J O N E S

S UN VA L L E Y I DA H O

4 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +33.33% C H A N G E Y E A R OV E R Y E A R

54.9M TOTAL $10M+ L I S T E D VO L UM E I N T H E R E G I O N, 2 0 2 1 — +31.08% C H A N G E Y E A R OV E R Y E A R


47

S UN VA L L E Y

TheSunValleyareahasseenunprecedentedbuyeractivitysincemid-2,similar 20 to otherresortmarketsacrosstheUnitedStates.Onceworkingfromhomebecamelessof theexceptionandmoreoftherule,westartedtoseeamassiveinfluxofpeoplefromcities alloverthecountrycomingtogettheirownsliceofheaven,toshelterinparadise.Situated inavalleywithrestrictionsonhillsidebuilding,ourinventoryisinherentlylimited,even moresonow.aving H beenalocalbrokerformorethan30years,Ihaveneverseenanything likethecurrentmarket,especiallyinthe10million-pluspricesegment.Wehaveexciting inventorytobringtothemarketin2and 0 arelookingforwardtoanotherbanneryear.

L I N DA B A D E L L Sun Valley

SunValleywasvotedtheTopSkiResortforthesecondyearinarowbySkimagazine,and itseemsourlocalrealestatemarketagrees!Arecordnumberofpeoplehavedecidedtomake SunValleyandtheWoodRiverValleyhomein1.The 20 ultra-luxurymarketisstrongerthan everwithunsurpassedmountainviewsandspaciouspropertiesdesignedforhostingfamily andfriends.Thelasttwoyearsofthepandemichavecreatedashiftcausingmanytoseek outamorerelaxedandyear-roundhealthylifestyle.TheSunValleyareaprovidesjustthat andmore!Theyear-over-yearincreaseinthemarketsupportsthejumpinvacantlandand newluxuryconstructionpricesasbuyerdemandcontinuestofaroutweighthesupply.One visittoSunValleyanditsunderstandablewhysomanyaredecidingtomaketheWoodRiver Valleytheirneweveryday!

B E S S C A RT E R Sun Valley

Source: Beaches MLS Palm Beach County, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21 WITH Source: FlexMLS, Regions include Blaine County, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


48

15M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY B R I A N D O UG H E RT Y

GREATER BOSTON G CA P E C O D M A S SA C H U S E T T S

34 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +183.33% C H A N G E Y E A R OV E R Y E A R

416M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +139.01% C H A N G E Y E A R OV E R Y E A R


49

G R E AT E R B O S T O N A N D C A P E C O D

sA werolledintothesecondcalendaryearoftheglobal pandemic,wesawgreatercertaintyandconfidencefrom luxurybuyersinourmarketplace.Salesofpropertiesabove 10millioninourregionmorethandoubledin1versus 20 ,a 20 reflectionofthisconfidenceintheeconomyand overallhousingmarket.nI ourape C andslands I marketplace, wesawgreaterinterestfrombuyersoutsidetheregion. B R I A N D O UG H E RT Y Greater Boston

Source: MLSPin and CCIMLS (Cape Cod & Islands), Regions include Greater Boston and Cape Cod (excluded from MA stats are Berkshires, Nantucket, and Martha’s Vineyard) some Nantucket properties are included if they were listed in CCIMLS, Property type(s) include single family and condominium sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


50

49.5M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY N I C K G VA I N

MANHATTAN N E W YO R K

326 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +91% C H A N G E Y E A R OV E R Y E A R

6.31B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +84% C H A N G E Y E A R OV E R Y E A R


51

MANHATTAN

40Y

T O TA L 1 0 M $ S A L E S VO L UM E R E P R E S E N T E D B Y C O M PA S S *

TheManhattan10million-plusmarketsurgedin1as 20 buyersmigratedback tothecityindrovesshoppingforlarger,move-in-readyresidences.Thebiggest challengeinQ41was 2,0 thelackofquality10million-pluspropertiestosell. Withfewnewdevelopmentprojectsstartedduringthepandemicandessentially allcorrectlypricedon-marketandmanyoff-marketpropertiesselling,2will 0 continuetofacethischallenge. J I M S T. A N D R E Manhattan

TheinventoryabsorptionfrenzywewitnessedinotherpartsoftheU.S.isnow happeninginNewYork:thefirsthalfof20wasvolumerecovery.Nowwe are in price recovery mode and prices are heading up. Bi-Coastal living has been usurped by tri-coastal living amongst the wealthy. Many in the tech community want a home in Florida, California and New York. With scarcity of prize properties, rising labor and construction costs, scarcity of skilled laborandprizesites,valuationsarealmostcertaintoescalate.Allofasudden replacementcostisanimportantdecisiondriver. L E O NA R D S T E I N B E RG Manhattan

Sources: Urban Digs & Verified in ACRIS, Regions include Downtown Manhattan, Midtown, Upper West Side, Upper East Side, Uptown Manhattan, Property type(s) include all residential sales (coops, condos, new development, and townhouses), 01/01/20-12/31/20 & 01/01/21-12/31/21. *Derived from the data accessed and collected from the sources on 1/20/22.


52

11.6M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY THE JOHN B A R B AT O T E A M A N D C O -LI ST E D BY B ROW N H A R R I S S T E V E N S

ROOK B YNL N E W YO R K

4 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — 0% C H A N G E Y E A R OV E R Y E A R

46.7M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — -13.17% C H A N G E Y E A R OV E R Y E A R


53

ROOK B YNL

Ithinkwehaveseenmuchmoreactivityintheluxurymarketin1as 20 comparedto20.Iexpect theluxurymarkettobeevenstrongerin2.Buyers 0 arecomingfromotherluxurymarkets,like theBayAreaandinternationallocations.Theyarelookingforimpeccablyrenovatedtownhouses, condominiumswithgreatviewsinhighlyamenitizedbuildingsinneighborhoodslikeTribeca,SoHo andBrooklyneights, H tonameafew.Thedemandforthesepropertieswillremainhighin2.0

SCOTT KLEIN Brooklyn

ManhattansawanexodusinWhile .02 manypeopleleftthecityforthesuburbs,othersreevaluated theirprioritiesbecausetheyknewtheywouldbeinthecitylongterm.Aneedforoutdoorspace andprivacyalongwithaneighborhoodfeelwasvaluedmorethanever.sA aresult,theultra-luxury townhousemarketwassustainedinBrooklyn,wherepricesdidntfallasdeeplyasManhattanand foraslong.Inadditiontothetownhousemarket,wereseeingultra-luxurydevelopmentinBrooklyn thatsreachingnewheights.sA thoseunitsgetsoldandpricesarerecorded,wellstarttohaveasense oftheinterestlevelinBrooklynultra-luxurynewdevelopment.

C AT E R I NA V. P E T E R S Brooklyn

Ifanuary J isanyindication,buyersareevenmoredeterminedtogetwhattheywant.Bynow,they expectcompetitivebiddingandprepareforit.Manyareliningupparentsforallcashpurchases,to befinancedafterclosing.Therewillbeapremiumforrenovated,move-in-readypropertiesbecause thereissomuchuncertaintyaroundthetimingandcostofrenovations.Buyerswantfullyrenovated updatedspaces.Theywantopenkitchens,outdoorspace,andairconditioning.Thosearethethree maindecidingfactors.

L I B B Y RYA N Brooklyn Sources: Verified in ACRIS, Regions include North Brooklyn, Northwest Brooklyn, East Brooklyn, South Brooklyn, Property type(s) include all residential sales (does not include commercial sales or residential sales on buildings containing 4 or more units), 01/01/20-12/31/20 & 01/01/21-1/20/22


54

$11M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY A L A NA B E N J A M I N A N D C O -LI ST E D BY D O UG L A S E L L I M A N

LONG I SLA N D N E W YO R K

5

$101M

T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +400% C H A N G E Y E A R OV E R Y E A R

TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +853.99% C H A N G E Y E A R OV E R Y E A R


55

LONG I SLA N D

The1luxury 20 marketontheNorthShoresawanexplosionof activityintheover10milliondollarpricepoint.Thegamutoflast yearssalesranfromwaterfrontestates,aresidenceonover10 acresandasubdivisionon30acres.TheNorthShorecontinues toseebuyersfromNewYorkCitymakingpurchasesattheselevels. Achangeofmindsetasaresultofthepandemiccombinedwitha riseinwealthaccumulationhascontributedtoadramaticincrease indemandattheultra-luxurypricepoint. T R A C I C O N WAY C L I N T O N Long Island

uxury L realestateonLongsland I isbackandheretostayin2!0 Takingalookback,in1we 20 sawan.9Y358 increaseinvolume from,and 20 2is 0 showingsignsthatthetrendwillcontinue. Citydwellerscontinuetomakeupthemostofthosesearchingfor primaryorsecondhomesintheregion.Buyersarelookingforfamily compounds,anoasiswiththeabilitytoaccessNYCeasily,whilealso keepingtheiroptionsopentoeasilyworkremotelywithspaceand privacyabounding.Withlittleinventory,weexpect2to 0 favor sellersandfordemandtocontinuetoexceedtheavailablepropertie A L A NA B E N J A M I N Long Island

Source: OneKey MLS, Regions include Nassau/Suffolk Counties (does not include Hamptons data), based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


56

23.6M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY CHRIS COLEMAN

THE HAMPTONS N E W YO R K

112 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +34.94% C H A N G E Y E A R OV E R Y E A R

2.1B TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +45.20% C H A N G E Y E A R OV E R Y E A R


57

THE HAMPTONS

1saw 20 movementatallpricepoints,especiallyinthehigh-end.Propertiesthathadbeen onthemarketforyearssoldand1demand 20 slowedduetopriceincreasesforproperties andforconstruction.nything A thatsmove-in-readywilllikelysellquicklyifitsinadesirable location.mI workingwithbuyersacrossallareasofEastampton H andmanypeopleare stilllookingforthatcashcowinvestmentpropertythatwastradingpre-Covid,butthose areathingofthepast.Beingwalkingdistancetoavillageisalwaysdesirable,butinthe extendedtimeofCovid,largeracreageandprivacyisalsoverysoughtafter.

JA M E S P E T R I E G C H A R L E S F O R S M A N The Hamptons

ust J likesomanyregionsacrossthecountry,theamptons H hasseenasteadyriseinboth volumeoftransactionsandvolumeofsalesintheluxurymarket.rom F thestartofthe pandemic,wesawaninfluxoffamiliesmovingouteastfromhigherdensityareas.ortunately, F atthetime,wehadtheinventorytosupportthis,giventheprevioussluggishmarketsof-7 201 .Remote 9 201 workinghasalsoimpactedthemarketdemand,offeringfamiliestheabilityto liveandworkinmultiplelocations.sA wemoveinto2,another 0 keytrendtowatchisthe unprecedentedgenerationalshiftinwealth,beingreferredtobyfinancialexpertsastheGre WealthTransfer.Oceanfrontproperties,whichpreviouslyremainedinfamiliesformultiple generations,arenowbeingofferedforsalebothonandoff-market.Althoughtheseproperties areonlygraduallybeingintroducedtothemarket,itisstillatapacewhichweveneverseen before.Historically,amptons H buyerslivedinManhattanandwerelookingfortheirweekend getawayfromthebustleofthecity.Today,weareseeingmoreandmorebuyersfromtheWest Coast,Florida,andEuropeasremoteworkbecomesmainstream.

LOR I S CH I A F F I NO The Hamptons

Source: EELI (East End Long Island) database, Regions include Westhampton Beach, Southampton, Bridgehampton, Sag Harbor, East Hampton, Montauk, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


58

11.5M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY B R I A N M I LT O N

WESTCHESTER N E W YO R K

4 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — N/A% N O R E P O RT E D 1 0 M$ SA LE S I N 2 0 2 0

46.3M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — N/A% N O R E P O RT E D 1 0 M$ SA LE S I N 2 0 2 0


59

WESTCHESTER

In2,we 0 willcontinuetoseebuyersinterestedinbuyingsecond orthirdhomesincommutabledistancetoNYC2feels .0 likethere isstrongerdemand,possiblybecausebuyersmissedonhomesorthe influxofnewbuyersthatnowwanttoowninsuburbia.Currently therearemoreultra-luxurybuyersinourmarketthanthereareultraluxuryopportunities. B R I A N M I LT O N Armonk & Greenwich

1was 20 aphenomenalyearinWestchestersultra-luxurymarket. Ihadabiddingwaronmylistingat1DuckPondRoadinScarsdale, whichendedupsellingfor5million. .89 ve I seenarealincreasein showingsastherearemanymoreultra-luxurybuyersinthesuburban market.expect I to 2 0 beanotherverystrongyearforthesuburban luxurymarket.Wereseeingalotofbuyersfromprivateequityand hedgefundsaswellastechinthisspace.Theyarecomingfromall overthecountrytobeclosetoNewYorkCity.SinceCovid,ultraluxurybuyersarelookingformorelandandmorelivingspace. ve I alsoseenagreateremphasisonhavingdedicatedhomeoffices asbuyersareworkingfromhomemoreoften. H E AT H E R H A R R I S O N Scarsdale Source: OKMLS Westchester County, Regions include Westchester County, Property type(s) include single family, 01/01/20-12/31/20 & 01/01/21-12/31/21


60

13M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY M I C H A E L C ROVO

JERSEY SHORE NEW JERSEY

3 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +50% C H A N G E Y E A R OV E R Y E A R

35.1M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +68.18% C H A N G E Y E A R OV E R Y E A R


61

JERSEY SHORE

ThemarketinStonearbor H andAvalonhasbecome evenmorecompetitiveduringthepandemic.Demand hasincreasedasmorehomeownersandpotentialbuyers havefoundworkingremotelyopenedupopportunities toenjoyasecondhomefarmorethanpreviousyears. That,combinedwithlimitedoptionsfortravel,hasmade theShoreatremendousoptionforourluxuryclients. Prices continue to rise as inventories are extremely constrainedanddemandforpropertiesremainsintense. M I C H A E L C ROVO Jersey Shore

oth B beachfrontandbayfrontpropertieshavebecome the most sought after in the Jersey Shore market. Thecombinationofsubstantiallyincreasedconstruction costscoupledwiththescarcenumberofthesesiteshas createdtheperfectstorm. NICHOLAS GIUFFRE Jersey Shore

Source: Paragon 5 - South Jersey Shore Regional MLS, Paragon - Cape May, Regions include Southern New Jersey & Jersey Shore, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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11.5M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY L VA I N I A S M E RC O N I S H

PHILADELPHIA G SU BU R BA N PHILADELPHIA P E N N S Y LVA N I A

1 T O TA L N UM B E R O F 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — N/A% N O R E P O RT E D 1 0 M$ SA LE S I N 2 0 2 0

11.5M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — N/A% N O R E P O RT E D 1 0 M$ SA LE S I N 2 0 2 0


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PH I LA DELPH I A G SU BU R BA N PH I LA DELPH I A

BuyershaverecognizedwhatanaffordablecityPhiladelphiaisintermsof costoflivingandrealestatevalues.ompared C tooursistercitesofNewYork, Boston,andWashington,.there CD isahugemarginofpricewhenitcomes topurchasingluxuryrealestate.Inthepasttwoyearswehaveseenasurge ofout-of-townbuyersandrelocationclientsmovingtoPhiladelphiatotake advantageofourextraordinaryhomeinventory.This,inturn,hasmade developersbuildevenmoreluxuryunitsandwearenowforthefirsttime seeingmoreconsistentsalesupwardof5million. KRISTEN FO OTE Greater Philadelphia

TheMainine L luxurymarketlastyearwasstrongerthanve I seenbeforeinmy lifetimelivinghere.uxury L homeswereinhighdemandwithmultipleoffers, buthomesthatwereonprominentstreetsweremoresoughtafteranddesirable thanever.Exponentiallymorebuyersarewillingtopayhundredsofthousands ofdollarsoveraskingprices.Insomeareas,landisnowsellingforover1million peracre,reachinganewhigh.Thearchitectsandbuildersintheareaareno longerimmediatelyavailable,nowrequiringuptoayearsnoticetostartnew projects.Provingjusthowhotthemarketwas,my20-acresaleinBerwynsold inamatterofmonths.aving H over20yearsofexperienceinMainine L real estatemakesmeexceptionallyqualifiedtonavigatetodaysmarket. JAC K A E Z E N Greater Philadelphia

Source: BRIGHT MLS, Regions include Philadelphia, Suburban Philadelphia, Pittsburgh, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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11.6M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 L I S T E D B Y G A RY A N D MICHELLE D OLCH ( A U S T I N L U X U RY G RO U P )

AU S T I N TEXAS

11 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +450% C H A N G E Y E A R OV E R Y E A R

18 9 M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +562.30% C H A N G E Y E A R OV E R Y E A R


65

AU S T I N

In20most,ifnotall,10million-pluspropertieswereontheprivatemarketonake L ustin. A Thislargelyheldtruefor1,however, 20 wesawthe10million-pluspricerangebecomeno longeruniquetothelake.Ipersonallyhavebuyerslookingintheprivatemarketforover10 million.Thisnowincludesluxurycondosdowntown,andevensuburbanneighborhoodswith largelotsandguard-gatedcommunities.In2,we 0 willseemorepropertiesinthisprice rangelistedintheMLSthaneverbefore.BuyerdisbursementfromCentralustin A is amajorfactortoconsiderthisyear.Theprioritizationofmoresquarefootage,largerlots, luxuryamenities,andprivacyissendingbuyersasfaroutasSpanishOaksandDripping Springs.Thisiscommonlycreditedtowork-from-home.Peoplearespendingmoretimeat homeandneedspaceforsometimesevenmultiplehomeoffices.Moreover,sellersarestill holdingtightdespitetheirhomesbeingworthmorethantheyeverhavebeen,andbuyers arecomingfromsurprisingplaces.Buyerscomingfromanada, C northernstateslikeIllinois, andsoutheasternstateslikeGeorgiaarebecomingincreasinglynormal.

DA R A A L L E N Austin & Central Texas

nI theluxurymarket,weareprojectingaverystrongoverall 20 inustin A andentral C Texas. WearealreadyseeingstrongtailwindsforQ1andQ2withlimitedsupplyandstrongdemand as we have received multiple offers on our listings in earlyanuary. J We do think that volumewillbegintailingofftowardsearlytomid-summer,butwillregainstrengthafter theNovemberelectioncycle.Weareforecastingthatourluxurymarketinustin A takes anotherlegupwithY20 $appreciationyearoveryear.Wecontinuetoseestrongdemand fromourmainfeedermarketsalifornia, C( NewYork,hicago, C andlorida) F sA . goodasithas beenhere,wethinkwerestillintheearlydayswithatleastave-year fi runwayaheadofus. Especiallyinexecutiveestates,waterfront,andranchpropertieswhichmakeupthemajority ofourcurrent20million-pluslistingportfolio.

G A RY D O L C H Austin & Central Texas Source: ACTRIS MLS. Region is greater Austin MSA, including but not limited to, affluent areas of Westlake, Lake Austin, Lake Travis (Lakeway, Bee Cave, Spicewood, Lago Vista) + Texas Hill Country, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21.


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11.9M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY J O NAT H A N RO S E N

DA L L A S – F O RT WO RT H TEXAS

10 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +66.67% C H A N G E Y E A R OV E R Y E A R

115M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +68.05% C H A N G E Y E A R OV E R Y E A R


67

DA L L A S

– F O RT WO RT H

remained 1 20 consistentwithas 02 consumerscontinued to place great value in their homes. Despite economic hiccups,themarketinTexasshouldremainstrongthanks torelativelylowtaxesandabusiness-friendlyenvironment. Weexpecttoseehighappreciationinthisarea,withno declineinsight. J O NAT H A N RO S E N Dallas-Fort Worth

Therewasasignificantsurgeinluxuryhousingdemandthis pastyear,resultinginrecord-lowinventorylevelsandrising prices–notjustforhomes,butforlandaswell.Thisyear,we hopetoseemorebabyboomersdecidingtomakeamove. TheyoungaffluentbuyersmovingtoTexaswillalsoplayabig roleintheluxurygame.Mostaretradingoff-market,sobeing connectedtoanagentwhoknowsyourmarketiscriticalto yoursuccessinthisspace. BECKY FREY Dallas-Fort Worth

Source: Dallas MLS, Regions include Dallas, Denton, Collin and Tarrant Counties, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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30M H I G H E S T C O M PA S S R E G I O NA L S A L E , 2 0 2 1 LI ST E D BY B OB BENN ION

GREATER SETTL A E WA S H I N G T O N

17 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +41.67% C H A N G E Y E A R OV E R Y E A R

260M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +70.33% C H A N G E Y E A R OV E R Y E A R


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G R E AT E R S E AT T L E

What stands out to me over the past 20 years is the consistencyofthepriceperformanceinourlocalmarket. NotonlyhasSeattlepostedthestrongestappreciationrate overthepastyears 02 atY,4 1 2 butitistheonlymarketinthe top4inappreciationoverthepast5,and 130 20years. STEVE CURRAN Greater Seattle

Wehaveseendramaticgrowthintheluxuryhomesectorin thePacificNorthwestandwillcontinuetoseestronggrowth inthecomingyear.Theongoingexpansionoftechcompanies inourareabringshigh-paidexecutivesandemployees,many ofwhomseekaluxuryhomeandlifestyle.Thisgoesforboth localandrelocationbuyers,whoviewourhousingmarketas asafeinvestment. G A YAL K I R S T I N E Greater Seattle

Source: NWMLS, Regions include King County, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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65M H I G H E S T C O M PA S S LIST PRICE, 2021 LI ST E D BY M A T T AF U P E L A N D M AC K M E N D E N H A L L

JAC K S O N H O L E W YO M I N G

27 T O TA L N UM B E R OF 1 0 M$ SA LE S I N T H E R E G I O N, 2 0 2 1 — +80% C H A N G E Y E A R OV E R Y E A R

365M TOTAL $10M+ S A L E S VO L UM E I N T H E R E G I O N, 2 0 2 1 — +106.80% C H A N G E Y E A R OV E R Y E A R


71

JAC K S O N H O L E

Theluxurymarkethascontinuedtoaccelerateinackson J ole, H withhigheraveragepricesyearoveryear,andaverage daysonmarketdecliningsignificantly.Theactiveinventory atyear-end1was 20 aboutonequarterofthenumberof salesthattookplaceduringthe1calendar 20 year.Couple thatlackofinventorywiththecontinuedhighdemandfrom qualifiedbuyers,andyouhavearecipeforacontinuingtrend fortheforeseeablefuture. B O M B E R B RYA N Jackson Hole

istings L withaviewornewconstructioncontinuetobe extremelyscarceandinhighdemand.Ifyouareaseller whoissittingonthesideline,2is 0 thetimetolist. CHRISTY GILLESPIE Jackson Hole

Source: Teton MLS, Regions include Jackson Hole, based on residential property sales, 01/01/20-12/31/20 & 01/01/21-12/31/21


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Compass is licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. This report contains forward-looking statements. All statements in this report other than statements of historical fact, including all statements in the future tense and/or regarding our future operating results and financial position, our business strategy and plans, market growth, and our objectives for future operations, are forward-looking statements. You can learn more about the types of forward looking statements and the risks related to forward looking statements in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 on our website or on file with the SEC. Regions selected to be included in the report had at least 1 transaction over $10M in 2021 reported in the MLS by any brokerage.


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