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Metro Detroit’s Super Luxury Real Estate Sales are UP

Sotheby's office in New Bond Street, London
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Would you be surprised to know that a house in Metro Detroit sold for nearly $10,000,000 this summer?  That’s a whole lotta cash, by just about anyone’s standards.  According to information from Realcomp II, 21000 Turnberry Lane in Novi, sold for $9,800,000 in August.  It wasn’t even officially on the market when it sold.

The Metro Detroit area had a total of 6 sales so far in 2008 that had listing prices over $4,000,000 when they sold.  I noticed that SKBK Sotheby’s was involved in half of those sales, something not approached by any other brokerage.  Our presence in the high end is very firmly established.

The most expensive house on the market today is 730 Vaughan Road in Bloomfield Hills.  I have written about the house before. When we last checked in on it in March 2008, the price was at $9,900,000. Today it is at $8,690,000.

I find it interesting to note that there were twice as many homes sold in 2008 over $4m as there were in 2007.

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About Maureen Francis

SKBK Sotheby's International Realty, 248.430.4450

Comments

  1. Realistic pricing, combined with solid marketing will result in sales. Even in the luxury category. But, it is also fair to say, things have changed a little since August :)

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