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Luxury Real Estate Rebounds

Luxury Real Estate Rebounds

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Ultra-luxury home sales are picking up, and some of the priciest homes are located in gold-standard beach-front locations:

Luxury realtors are hoping the dry spell is coming to an end. Last month, a 2006 Aspen mansion, including 10 bedrooms spread across 21,400 square feet, sold for $43 million. Earlier this year, pop star Madonna paid $32.5 million for a Georgian-style townhouse on the Upper East Side of Manhattan. “I don’t want to say everything went dark, but they [the buyers] went quiet” last fall, said Joshua Saslove, the listing broker for the Aspen property. “Now, they’ve reappeared on the horizon.” Not only are the number of trophy listings growing, but they’re still reaching extraordinary heights. – from BusinessWeek

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