When you think of million dollar homes for sale in Annapolis Maryland, you probably think of waterfront estates along the Severn River, Spa Creek or the South River. However, luxury properties can be found all around town, not just on the water or on the Chesapeake Bay. They can be single family homes, townhomes or condominiums. Million dollar homes can be located on the outskirts of town or right in the heart of the historic district of Annapolis.
For many buyers a luxury home means an opulent and rich surrounding, quality of workmanship, fine craftsmanship, and the best of the best in appliances, flooring and other finishing touches. Million dollar buyers can find waterfront venues with expansive views, docks and piers, and private lots. Luxury home buyers can also find historic homes steeped in history, as well as, luxury high rises with turnkey living for weekend or seasonal use. Luxury homes, often priced above $1,000,000, usually means custom floor plans, high end appliances, marble and granite, and exotic woods. By definition luxury homes should be unique with features and benefits, and exclusive locations. And, luxury home buyers demand additional amenities like a media rooms, spaces dedicated to entertainment, guest quarters (sometimes in fully separate buildings), and security systems to protect themselves, their family and their valuables at all times.
The main thing that makes a luxury home stand out from all the rest are the feelings that are inspired when you walk in the front door. And in the case of a waterfront luxury home, it's as welcoming when you arrive by boat as when you arrive by car. Luxury can mean many different things to many people, but generally these homes are priced above $1,000,000 without a ceiling.
Year-to-date (January 1, 2012 to June 30, 2012) in Annapolis Maryland there have been 66 sales of homes with selling prices above one million dollars. The average sold price for the first half of 2012 was $1,482,874 for an 84.45% off their average original asking price of $1,793,022. These homes were on the market for an average of 219 days. There are currently 252 luxury homes on the market in Annapolis with an average asking price of $1,892,917 and have been on the market for an average of 250 days. With about 11 high-end homes selling each month, there is about a 23 month inventory of million dollar-plus homes for sale. Generally, when inventory levels are below six months, that is considered a seller's market. When inventory levels are above six months, that is considered a buyer's market. Current conditions would suggest that the luxury real estate market in Annapolis Maryland strongly favors buyers and will so for some time to come.
There are many fine luxury homes currently on the market from which buyers can choose. So if you would like to live, work and play where it's all about fun, consider one of the many million dollar luxury homes for sale in Annapolis Maryland.