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$155 Million Estate Tops List of Country's Most Expensive Homes for Sale
An extravagant home set on 160 acres of Big Sky Montana property is loaded with over-the top luxury amenities and comes with a price tag that is 42 times more that the most expensive Cary NC real estate listing.
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April 7, 2007 (FPRC) -- According to a recently-released Unique Homes magazine's special issue, a “spec home” in Big Sky, Montana that is currently still under construction tops the list of the 1000 most expensive homes currently on the market in the U.S. This “Pinnacle home,” built by Yellowstone Club developer Tim Blixseth, is set on 160 acres and includes four 4,000-square-foot guest houses, security and staff quarters, an underground garage stocked with a fleet of Chevy Suburbans, and even a retractable helipad complete with helicopter and pilot lounge.
By comparison, the most expensive home currently listed in the Cary real estate MLS is a $3,650,000 residence. For the price of the $155 million dollar Big Sky home, one could buy 42 of the most expensive pieces of Cary NC real estate. The average sale price of Cary real estate in the last 12 months is $314,780 with an average home size of 2,436 square feet.
There are currently 188 active properties in the Wake County MLS system priced at a million dollars or more," according to Mike Montpetit, a member of The Institute for Luxury Home Marketing and an agent with Town & Country Realty Inc (http://www.MikesRealEstateTeam.com). “39% of the active luxury homes on the market are new construction. The increase in luxury Cary real estate is an indicator of our town’s growing interest among sophisticated home buyers.”
"The number of million-dollar-home sales isn't available yet nationally for 2006, but the number of million dollar homes sold in the country jumped more than 10-fold from 10,000 in 1999 to over 109,000 in 2005 – a reflection of the significant growth in the number of wealthy households. Although many marketplaces are seeing slowing appreciation, higher inventories and longer sales time, the number of luxury homes is growing every year," says Montpetit.
In Wake County, there are currently 36 pending sales, 115 closed sales, and 188 active sales over $1million. This implies that there are over a year’s supply of luxury homes on the market in Wake County based on the absorption rate since April 1, 2007.
Luxury home specialist buyer agents like Montpetit work with luxury home buyers to select a builder, home site, upgrade options and a floor plan are that will strengthen the home’s resale value.
“Using a luxury home specialist buyer’s agent helps to level the playing field with builders and their agents who tend to have superior knowledge over typical home buyers. Best of all, the professional fee is typically paid by the builder’s real estate broker to the Buyer Broker. It definitely pays to consult with an experienced luxury home Realtor,” says Montpetit.
About Town & Country Realty Inc.: Town & Country Realty Inc. is a leading Cary NC real estate agency in its 7th successful year of business. The company is resolute in its mission to provide outstanding customer service and offers a “love it or leave it guarantee” as a measure of their unyielding commitment. Town & Country’s website, http://www.MikesRealEstateTeam.com offers a full local area property search, featured properties, and a library of downloadable resources for Cary NC real estate buyers and sellers. For more information or to find your next Cary home, contact Town & Country’s Quick Response Line at (919) 786-7776.
Send an email to Mike Montpetit of Town & Country Realty
1-919-786-7776
Keywords:
NC Real Estate
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