Defining Luxury: Characteristics of a Luxury Property

Defining Luxury: Characteristics of a Luxury Property

  • The DeVonne Group
  • 02/4/22
Whether or not you are in the market for a home, becoming captivated by luxury properties is hard to resist. Sweeping views, extraordinary architecture, palatial landscapes, and stately finishes will have you gazing for hours. In many parts of California soaring property values make homes valued at over $1,000,000.00 commonplace. In November 2021, The Los Angeles Times reported that California holds 70% of the country’s priciest ZIP Codes for home buyers. According to the National Association of Realtors®, in December 2021, the median listing home price in Los Angeles was $949,000.00, trending up 5.4% year-over-year. The median listing home price per square foot was $622.00. The median home sold price was $980,000.00.
 
But this price tag does not necessarily equate to luxury. To be deemed luxurious, high-end homes typically share distinct features like locale, dimension, materials, design, amenities, value and prestige.


Coveted Locations

High-end properties cascade throughout the most enviable locations. Sparkling throughout pristine hills, waterfront beaches, majestic cliffs overlooking the sea, and perched within regal mountains. Location is the largest property value determinant.

Immense Square Footage

Size matters. Luxurious properties boast vast square footage even in the most densely populated communities. Colossal master suites, sprawling open spaces, airy spa-like bathrooms, guest rooms galore, staff quarters and amenity-centric rooms are a given.

Premium Finishes

Quantity without quality will leave a home lacking the elegance expected in a luxury property.  High-end homes are constructed with premium materials, elegant if not exotic finishes, and fine decorative elements throughout. Appliances are top-of-the-line. Flooring is decadent, countertops and mantlepieces will be second to none.

Exceptional Designs

Luxury homes embody distinction. Whether traditional or modern, oceanside or city-centered, these homes exude grandeur, sophistication, and distinction, with furnishings and landscape architecture to complete their opulent appeal. 

Indulgent Amenities

Luxury properties boast classic comfort with exquisite splendor, seamlessly merging private and public indulgences in one fell swoop. Extending beyond the characteristic swimming pool and fairly common home theatre to indoor bowling alleys, private putting greens, and full-sized tennis courts, to say the least.

Higher Price Points

The California real estate market is closely unrivaled. The average home price in Los Angeles County far exceeds the average home price in 88% of the country. Yet, Los Angeles’ luxury homes are considerably more expensive than its median home price. Depending on the community, luxury property buyers can expect a price range from a few million to well over $250,000,000.00.

Cachet

A home's history alone may deem it a luxury property. Whether crafted in bygone elegance, built by a renowned architect or previously owned by a celebrity icon, homes with the most unique stories are often considered high-end. Putting a price on prestige has its challenges, but a renowned home attracts select attention.
 
While there is no shortage of luxury homes in Los Angeles’ Beach Cities, here are just a few majestic homes currently on the market:
 
3216 The Strand
Manhattan Beach, CA, 90266
$30,000,000
$4,024 per ft²
 
This magnificent property stands proudly on the Manhattan Beach Strand overlooking one of the most prestigious beaches in the world with panoramic views from Palos Verdes to Malibu. This exquisite home exudes luxury, discerning taste, and offers unmatched premium Strand living with privacy unlike any other.
 
600 The Strand
Hermosa Beach, CA, 90254
$22,900,000
7,507 ft²
 
Poised on the corner of the world-famous Strand is a magnificent coastal estate that has been lovingly reimagined and renovated to perfection. Serene and distinct boasting prime south west facing beach frontage and that means glistening sunlight and breathtaking panoramic ocean views.
 
909 Via Coronel
Palos Verdes Estates, CA, 90274
$18,950,000
13,032 ft²
 
The "Old Spanish” architecture and stunning stone courtyard retain the charm and character from the 1920s, but the entire estate was painstakingly reconstructed and expanded in 2006, to take advantage of today's modern luxuries.
 
3111 Ocean Front Walk
Marina del Rey, CA, 90292
$12,995,000
7,603 ft²
 
Positioned in an unbeatable location with over 52 feet of boardwalk ocean view frontage and 45 ft height, this insane trophy property situated on the Marina Peninsula, is the perfect location for event rentals, Airbnb, an office HQ, and potentially a live-work space. 
 
Westside neighborhoods make up most of Los Angeles County’s luxury neighborhoods, however, during the pandemic, other communities like Crenshaw, Highland Park and Porter Ranch easily became million-dollar neighborhoods. 
 
*All listing information is deemed reliable and taken from the Multiple Listing Service.

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