With the New Year well under way, it’s time to stop, take stock and learn from what happened in luxury real estate last year, to better prepare for what may come in 2016. It should come as no surprise that there was a lot of movement and interest in the luxury real estate sector, but what is unexpected is that despite the clear amount of interest and popularity in expensive, high end, ultra-luxurious homes, this buzz and hype didn’t necessarily translate into a guaranteed sale. And that’s why when we go into a list of some of 2015’s most popular homes, there’s a running theme that not all of them were actually purchased, and ended up becoming delisted, meaning there’s a chance they’ll appear again in 2016.
25420 Prado do Oro, Calabasas California
Sold in March for 2.6 million, this home is clearly in the luxury real estate space, but what really separates it from other places is not so much the residence, as the zip code. The Calabasas area is now more well known for being the home ground of the Kardashian-Jenner family, so it’s no wonder that for a country obsessed with fame, the idea of living in a famous neighborhood is going to have a lot of appeal.
Kylie Jenner has also recently purchased in home in the area to keep close to the family, so for affluent reality TV fans, this is about as close as it gets to living in Eden.
450 Brickyard Road, Woodstock Connecticut
Currently still available at a price of $39 million, it’s a castle. That’s all that really needs to be said. Eight bedrooms, a dock, underground facilities and, of course, turrets and parapets, there’s really not much else to add. You either love the medieval look or you don’t, so obviously the high cost of the home comes with a very specific aesthetic preference.
Somewhere out there is someone that wants to live and feel like a royal, and if they don’t want to do that in England, maybe Connecticut is a better alternative.
8 Circle Street, Perry Township Fay, Pennsylvania
This is another home with a claim to Hollywood fame. Despite not being on the high end of luxury, this $249,000 home is notorious for its appearance in the Jodie Foster/Anthony Hopkins thriller, Silence of the Lambs. It was the home of “Buffalo Bill,” and thus played a crucial role in the nerve wracking climax of the film.
Which may be the reason why even though there’s a lot of interest, few people actually want to live in a home associated with a serial killer, fictional or otherwise. But plenty of people like to read about it.
9505 Lania Lane, Bevery Hills, California
This is a serious case of “How the mighty have fallen.” Once estimated at $195 million, this famous home has continued to not sell, despite all the interest in it, and is currently sitting at an all-time low of just $393,117, at the time of this writing. Built in 2002, it covers an astounding 28,000+ square feet, meaning this home is currently available for just $14 a square foot.
It’s both astonishing and ironic that one of the most popular homes available for sale in America continues to evade purchase, and that its reduction in price has gone into such a dramatic freefall.
It looks like the one thing that’s certain when it comes to luxury real estate is that nothing is predictable.