Sarasota’s real estate market continues to be in high demand. Like much of Florida, supply is not keeping up with need at nearly every price point. Luxury properties are no exception. Sarasota is seeing extensive construction in the downtown area, as well as new or renovated waterfront properties.
Coldwell Banker wanted to identify housing trends emerging in the luxury real estate market. And who better to ask than our Certified Global Luxury Real Estate Specialists who tour luxury properties every day?
These expert insights have been compiled into the first Best of the Best. This is what makes luxury homes stand out on the market, what products luxury consumers can’t live without, and what defines what will stay in focus and trend until 2024 .
The four best-of-the-best trends are:
1. 72% of luxury goods professionals say it’s their chef’s kitchen.Designed and equipped to meet the needs of professional chefs, it is the most popular home amenity among luxury homeowners. Trends in luxury kitchens with the latest appliances and features include dual-function islands, statement hoods, paneled refrigerators, smart appliances, slab countertops, and more.
2. The biggest trends in luxury outdoor spacesAccording to 66% of luxury real estate specialists surveyed, it’s the fusion of indoor and outdoor living. An outdoor living area can further enhance the sense of flow, allowing the space to act as a continuation of the home’s sanctuary. Combining these features also gives you a larger social area for guests and gatherings.
And what better place to take advantage of this luxury trend than in sunny Florida? Our luxury specialists help our customers enjoy their getaway with features like water features, fire pits, and outdoor living rooms. We’re even seeing them incorporate imagined luxury outdoor amenities.
3. Dream homes increasingly reflect luxury consumers prioritizing self-care and overall health and wellness. Spa-like bathrooms are popular as a personal oasis in the home. Two of the top luxury bathroom trends are freestanding bathtubs and hydrotherapy showers. Spa design elements, heated floors, and saunas are also popular must-have luxury amenities.
4. Advanced smart home technology It is also shaping the areas that matter most to today’s luxury homes, especially to each wealthy homeowner. Like many of the luxury amenities mentioned here, this technology helps personalize the experience, the very definition of luxury. For one owner, this might be privacy and security, while for another it’s setting up technology to help run and maintain the home.
According to our luxury real estate specialists, the top two luxury smart home technology amenities are fully integrated home systems (62%) and smart thermostats (54%).
Best of the Best’s insights from luxury experts are reshaping what modern luxury homes look like today and what will stay relevant and trending in 2024.
Duff Rubin is president of the Southeast Region for Coldwell Banker Realty.