Presenting

14 | Michael Saunders & Company PREVIOUS PAGE: Waterfront estate featured on page 54 TOP LEFT: Lakewood Ranch home featured on page 76 TOP RIGHT: Lakewood Ranch home featured on page 69 BELOW: Casey Key property featured on page 56 OPPOSITE PAGE: Longboat Key estate featured on page 24 While this is true for the entire spectrum of real estate—new or remodeled homes place a greater emphasis on modern amenities such as enhanced kitchens, smart technology and communal gathering spaces. The avenues through which this shift manifests itself are especially apparent in the luxury home market, and for that matter, are far more complex. There is no standard answer to what constitutes a "luxury home." While certain features such as gourmet kitchens and spa-style bathrooms are considered standards in high-end homes, much of the price tag of a property is determined by the location. A home priced at $1 million in Atlanta might be listed around $7 million in London. Land value, cost of construction and building materials are among the most prominent factors that determine the overall price tag. On average the global price of a luxury home hovers at around $2.2 million. For an insider's view into the coastal luxury home market, one has to understand the individuals who comprise this group of house hunters. Only a decade ago (prior to the economic crisis), members of the baby boomer generation were the primary consumers of such properties. Often, they would purchase a vacation home or investment property following many years of wise investing and hard work. After the kids move out, their trophy property became their spot to relax and enjoy a well-deserved retirement. Today, however, the dynamic has changed both domestically and abroad. Younger buyers and tech sector successes constitute a much larger segment of the population. Not only has the age changed, but also the uses. This new demographic tends to purchase a property as a primary home, and unlike previous generations, is not so concerned with a location that is necessarily convenient to a place of business, opting instead for a setting that encompasses their aesthetic preferences. The vast spike in telecommuting and a work-from- anywhere culture has certainly played a part in this trend. While this gives a small overview of the buyer's market, it is worth mentioning the demand behind today's home market, too. Overall, inventory is up slightly; however, it is interesting to note that while the number of days a home spends

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