Sotheby’s International Realty Announces 2023 Brand Stats
Sotheby’s International Realty Releases Luxury Outlook 2024
After the past few years’ frenzied market, the market is hitting more of a buyer-seller equilibrium, with inventory levels moving up ever so slightly, buyers getting used to a new normal of interest rates, prices generally holding steady, and high-end home seekers expanding their reaches to more parts of the globe.
There are lots of changes happening, and the report explores them in depth—everything from the newest tech tools currently disrupting the real estate market, from artificial intelligence to smart-home technology, to pinpointing the parts of the world where tax incentives are increasingly enticing wealthy citizens.
Luxury Outlook 2024 also looks at the growing importance of sustainability and climate resilience to home builders and buyers, how hybrid work has shifted the world’s real estate needs, and how provenance can help homes sell.
This is a difficult time when it comes to geopolitical challenges, with several conflicts raging around the world at once. That makes it difficult to predict what the future will bring, and whether an intensification of conflict could affect financial markets.
For now, there continues to be economic uncertainty into 2024, despite some sporadic positive news. In the U.S., for one, economic growth accelerated in the fourth quarter of 2023, according to the Commerce Department.
While many experts are torn about the effects the conflicts are likely to have from a financial perspective, many market watchers predict an overall positive 2024 for the real estate market. As Sotheby’s International Realty CEO Philip A. White Jr. points out in his interview, Freddie Mac is forecasting prices rising by 0.8% between August 2023 and August 2024, followed by another 0.9% gain in the following 12 months, pointing to “tremendous” demand for houses relative to supply, continuing “to keep upward pressure on prices.”
For now, at least, most of the worries about the real estate market stalling due to rising interest rates haven’t come to fruition, with demand strong, as people move both because they’re going through major life events—such as new children and new jobs—or simply because they want to upgrade their homes and, with it, their lifestyle.
Speaking of the lifestyle factor, as always, we explore the high-end purchases people are making outside the real estate realm, including art, collectibles, and more.
Luxury buyers and sellers want to spend wisely, and staying well-informed is just the way to do it.
Read the Luxury Outlook 2024 by clicking here.
Join Us in Welcoming Taylor Guillerm as New Vacation Rentals Manager
We are excited to announce Taylor Guillerm’s promotion to Rental Manager. Most of you know Taylor and have worked with her as an instrumental part of Gulf to Bay Sotheby’s for the last four years. With 14 years of local customer service and management, she has developed an understanding of market dynamics, property management, and effective communication strategies. Her expertise and leadership will provide exceptional service and ensure a positive rental experience for property owners and tenants.
Taylor can be reached at taylor@gulftobaysothebysrealty.com to discuss Gulf to Bay Sotheby’s International Realty’s seasonal rental and vacation rentals program.
Sotheby’s International Realty Wins Ragan and PR Daily’s Communicators of the Year
Ragan and PR Daily Award programs celebrate the most successful campaigns, initiatives, people and teams in the communication, PR, marketing and employee wellbeing industries. As the leading voice in organizational communications—both internal and external—Ragan Communications recognizes those who create and cultivate best practices.
Sotheby’s International Realty was named the Corporate Communications Team of the Year. We are pleased to recognize the efforts of the Sotheby’s International Realty Public Relations team and the work they do to support our sales efforts.
Significant Sales: February 2023 Highlights
From a AUD$17M sale in Byron Bay, Australia, to a US$44.55M sale in Woodside, California, here are February 2023’s five highlighted sales represented by the Sotheby’s International Realty® global network.
Byron Bay, Australia
James McCowan and David Medina | Byron Bay Sotheby’s International Realty, AUD$17,000,000
Woodside, California
Arthur Sharif | Sotheby’s International Realty – San Francisco Brokerage, US$44,500,000
Mexico City, Mexico
Laura De la Torre and Maricruz Madrigal | Mexico Sotheby’s International Realty, US$3,200,000
Stockholm, Sweden
Peter Frisell | Sweden Sotheby’s International Realty, Price Undisclosed
St. Louis, Missouri
Stephanie Oliver | Dielmann Sotheby’s International Realty, US$13,000,000
New And Notable Luxury Homes For Sale Over $10 Million | March 2023
From a legacy estate in Aspen, Colorado, to an oceanfront compound in Skiathos, Greece, these are this month’s five featured notable properties for sale over $10 million.
Aspen, Colorado
Chris Klug, Soffia Wardy | Aspen Snowmass Sotheby’s International Realty
Merry Go Ranch was one of the first properties built on Mclain Flats and has been held in the same family for almost 40 years. The compound provides proximity to Aspen, the benefits of a private family estate with almost 35,000 sq. ft. of improvements, and panoramic views from Aspen to Snowmass.
Harbour Island, Bahamas
Ashley Brown | Bahamas Sotheby’s International Realty
Located in Harbour Island on a stretch of beach known as Pink Sands Beach, Runaway Hill Inn offers breathtaking views of the ocean. The boutique hotel is situated on 9.365 acres and consists of 11 guest accommodations including the main house and detached cottages, along with 175 feet of beach.
Scottsdale, Arizona
Kathleen Lane | Russ Lyon Sotheby’s International Realty
This furnished residence is offered with a full golf membership available. Prominent angular large boulder volcanic rock architecture, biophilic elements, and Polynesian-style design with a storybook rivulet running over and throughout the verdant hardscape make the home a lush oasis.
Skiathos, Greece
Despina Laou | Greece Sotheby’s International Realty
With its own private access to crystal clear teal waters and a secluded beach, this property is a paradise for sea lovers and explorers. The property is composed of eight distinct buildings, each boasting magnificent sea views and direct access to the beach.
Solana Beach, California
Eric Iantorno | Pacific Sotheby’s International Realty
Developed by RMCI Group and designed by EOS Architecture, this home is a luxury compound with two structures thoughtfully crafted with high-end architectural details. The compound is ideally located near the beach and the shops and eateries of the Cedros Design District.
Significant Sales: January 2023 Highlights
From a EUR€11M sale in Milan, Italy, to a US$15M sale in Middletown, Rhode Island, here are January 2023’s five highlighted sales represented by the Sotheby’s International Realty® global network.
Middletown, Rhode Island
Tina Wiley, David Huberman, Kate Kirby Greenman | Gustave White Sotheby’s International Realty, US $15,000,000
Kingston, Jamaica
Rochelle Griffiths-Townsend | Jamaica Sotheby’s International Realty, US $1,200,000
Milan, Italy
Barbara Legnani | Italy Sotheby’s International Realty, EUR€11,050,000
Beverly Hills, California
Richard Klug | Sotheby’s International Realty – Beverly Hills Brokerage, US$52,000,000
Queenstown, New Zealand
Gerard Bligh, Hadley van Schaik | New Zealand Sotheby’s International Realty, NZD$6,050,000
Take Ten with Banyan Gasparilla Sound’s Evolution Hospitality Executive VP of Operations, Matt Greene
In our Take Ten series, we connect with different partners on the Banyan Gasparilla Sound project to discuss their perspective on what makes this wellness community the jewel of Florida’s Gulf Coast. Our first Q and A is from Matt Greene, Executive Vice President of Operations, of Evolution Hospitality.
1. What is the scope of your involvement with the overall hospitality operations for Banyan Gasparilla Sound?
I will work with Integra on all things Banyan: Programming to develop a unique resort experience based on our geographic location taking advantage of the marina, the ocean and all that goes with it like water activities, State of the art Spa and wellness program, etc. We will develop a sensory experience at the resort, activate key “Touch Points”, create unexpected delights and cater to the unique & individual needs of our guests. I will work with our Taste & Theory team to develop unique F&B offerings throughout the resort that will have unique seasonal menu offerings that take advantage of our geographic location.
2. What projects have you supported that is your inspiration for BGS?
I think of early W Hotels, I was Senior Director of W Hotels new builds and acquisitions, bringing something entirely new to travelers. New York City set expectations for something special, energizing and creative. The bar was set high and we delivered. . I worked with Owners/Developers, their Architecture & ID Teams in W’s growth period. I had 43 W Hotel Developments Globally.
3. How do you define a ‘lifestyle experience’?
A lifestyle experience considers a multitude of factors: Experience for all of the senses, unique offerings based on geography, Activation of the resort at key “Touch Points”, personalizing stays for our repeat guests and VIPs by knowing what their personal preferences are. Having a maniacal focus driving unique experiences. Having best in class offerings like our Spa & Wellness facility, F&B outlets, luxury pool and grounds, as well as our first-class marina.
4. How does that translate for a resident at a project like BGS?
Because we have the opportunity to truly get to know our residents and personalize their offerings and know their preferences when they dine with us, go to our spa and join us at the pool. Because we are driving experience, we will garner a significant premium for those that have their units in our rental pool.
5. We’ve heard the term ‘wellness community’ used to describe BGS, what does that mean?
We have curated a variety of amenities designed to help residents live their best lives through stress and relaxation treatments in our spa, a Mediterranean inspired on-site dining concept, lushly landscaped grounds to help residents and guests connect with nature as they traverse the property, and the developer is looking for well-centric building materials and features to enhance the hotel and living quarters.
6. How does that impact everyday life for someone that calls BGS home?
The residents will have our highly skilled team cater to their every needs. Those residents that stay often, we will get to know their preferences in F&B, favorite spot at the pool, special occasions to provide “unexpected delights”. And treat them as an extension of our families. With frequency of stays we get to truly understand how to cater to each resident’s specific needs.
7. Why does having a strong hospitality partner matter when it comes to a new construction community?
The great news is that we are starting the project together from the very start which enables us to ensure we are focused on both “Form as well as Function”. We see too many resorts that look beautiful but don’t function properly and that is a turn off for residents, guests and owners alike. One example is a beautiful bed that sits on a pedestal that isn’t flush with the mattress. This creates a safety issue as well as a wear & tear issue where the bed gets beaten up and its useful life is dramatically shorter.
8. What are some other projects you manage that potential buyers might be familiar with?
Hard Rock San Diego, L’Auberge de Sedona, The Landing Lake Tahoe, Carneros Resort & Spa…
9. How do you keep abreast of trends with lifestyle and technology?
I travel extensively on a weekly basis. I am passionate about keeping up with trends and maniacal about focusing on how to differentiate upscale hotels & resorts. I have traveled the world and am always on the lookout for unique offerings and technology advancements. We often are called upon to Beta Test State of the Art technology because of our scale & influence on the industry & our owners/developers.
10. What are the words that you’d like visitors to BGS use to describe the experience?
I am ready to go back, I feel relaxed, pampered and disconnected from the outside world when I am at BGS.