Each year, the team at TopTenRealEstateDeals.com polls top real estate agents and researches thousands of beach homes across the U.S., selecting only the most appealing and eye-catching to be included in their annual Beach Homes list.
For those who can afford it, this year appears to be a great one for luxury homes on the water, in part due to a large number of available homes. This influx reaches well beyond the usual locations that typically dominate this list like Hawaii, California and other hot spots on the Pacific coast. But the tides appear to have changed for this year anyway, with the Atlantic boasting six of the ten beach homes for sale including three in The Hamptons.
Not surprisingly, the ultra-luxury beach-home market seems to have taken a price hit in line with other high-end real estate. Consequently, demand and prices continue to slide as the oceanfront home inventory increases. For example, unfavorable market factors led the owners of the #4 home on this list to trim nearly 50% ($11 million) off of the price tag. A good portion of these residences are in very exclusive zip codes with some coming onto the market for the first time in generations. However, since these homes offer something that very few homes can match — the ocean at your backdoor — I suspect that the affluent beach home market will be one of the first segments to stabilize, with price increases soon to follow.
So while most of us may never be able to place a bid on one of these luxurious homes, there’s no harm in taking a virtual tour.