Chicago’s North Shore began as a place to escape from the city’s heat during the 19th century and has since developed into one of the best places to live in the U.S. due to the thriving sense of community, excellent school systems, availability of luxury housing stock, and proximity to Lake Michigan and Chicago.

Stretching along the lakefront from Evanston to Lake Bluff, the area is relatively small with a population of approximately 181,000 and total housing of only 75,000 units. Winnetka’s population is only 12,400 with 4,300 single-family homes. In any given year, turnover of housing is usually less than 5 percent.

Average values in most of the lakefront communities exceed $1 million with luxury property starting around $1.5 million. These values are not unexpected in communities where more than 85 percent are college-educated and the median income exceeds $200,000.

Our market has not experienced the run-up of prices that other states have seen and thus the market, while challenging, has continued to be a solid investment. Over the short term, our markets are experiencing declines in average values from where they stood two years ago, however, long-term housing values have shown steady growth and provide positive returns.

—Steve Hudson, The Hudson Company

To learn more about Steve and his listings, click here.

To comment on this posting, click here.

Just over the Golden Gate Bridge from San Francisco is Marin County, famous for its natural beauty and progressive sensibilities. One of the most affluent counties in America, Marin is much more than a collection of high-end bedroom communities. Its residents are influential, from Wall Street to Hollywood to Capitol Hill.

Most of Marin County consists of protected open space and its coastal communities (e.g. Sausalito, Tiburon, Stinson Beach) are favored by bohemian multi-millionaires who prefer flip-flop sandals and shorts over Armani suits. Throughout the county, instead of Rolls Royces, kayak-topped Priuses are parked inside gated estates while muddy mountain bikes and greasy Rollerblades sit by the front doors. Mega-mansions are rare in Marin County, but a 6,000-square-foot water-view home easily could command more than $10 million.

The  “Marinites,” as we call ourselves, include Fortune 500 CEOs, young high-tech entrepreneurs, a vibrant creative community (e.g. Carlos Santana, Robin Williams, George Lucas), and plenty of trust funders. It’s an eclectic population united by an interest in healthy living, an environmental consciousness and appreciation of natural beauty.

Although Marin County is literally minutes from the center of San Francisco, it feels a world away. Billboards are banned, traffic is light, and strip malls are discouraged in favor of the charming downtown business districts of communities such as Larkspur, San Anselmo, Fairfax, Tiburon, and Mill Valley.

—Melissa Bradley, Bradley Real Estate

To learn more about Melissa and her listings, click here.

To comment on this posting, click here.

In my 30-plus years in the Las Vegas real estate market, I’ve seen my share of housing trends as the city continued to transform itself. Now that it’s a metropolitan area of more than
2 million people, the dynamics have changed again. Some people are surprised to hear that the past year set a record for the number of sales over $10 million in Las Vegas. Five years ago, such properties were almost nonexistent, but today there is tremendous demand for them.

High rollers can still find multi-million dollar penthouses, but not every luxury buyer wants to live in a high-rise on the Strip. Clients moving from Southern California are more interested in replicating their low-density, high-end lifestyle. As a result, guard-gated communities with large lots on world-class golf courses are the hottest current trend. These developments, offering an array of high-end amenities, are not your typical subdivisions. At Southern Highlands, where raw 1-acre lots command $1.5 million, it costs approximately $225,000 to join the exclusive golf club and residents include billionaire casino owners.

Home prices at the Promontory phase at The Ridges of Summerlin shattered a Las Vegas record at more than $1,000 per square foot, while houses in communities such as Queensridge and MacDonald Highlands regularly exceed $10 million.

—Jerry Masini, Award Realty

To learn more about Jerry and his listings, click here.

To comment on this posting, click here.

Escaping to Austin, Texas, for relaxing and recharging is hardly a new phenomenon. Celebrities such as Matthew McConaughey, Sandra Bullock and Renee Zellweger have made Austin home for this very reason.

But celebrities aren’t the only ones with residences in Austin and the surrounding hill country. Because of the city’s continuing economic growth, luxury properties continue to be in demand.

This June, there were 190 homes and condos priced from $2 million to $13.5 million on the market in Austin and the surrounding area.  About half of those are waterfront or panoramic water-view homes located along Lake Travis, Lake Austin and Lake LBJ.  The other half are located in the other luxury destination of choice—areas close to Austin’s vibrant and ever-expanding downtown market. Clearly, proximity to water and the city are the premier locations.

Off the water, luxury homes can be found in areas such as Westlake and Barton Creek, about 20 minutes west of downtown Austin. Want to be closer to the city? In addition to the downtown high-rise condo offerings by names such as The W Hotel and The Four Seasons, stunning estate homes can be found in areas such as Tarrytown, Pemberton and Enfield.

Looking for something really special? Many of the “trophy” properties in and around Austin are not listed on the MLS, so if you’re looking for that “uber”-estate, it will take the assistance of a real estate professional who is in touch with that specialty market. If you’ve heard that no one is actually buying these luxury properties, you might be talking to the wrong people.

—Karen Matuszewski, ERA?Colonial Real Estate

To learn more about Karen and her listings, click here.

To comment on this posting, click here.

Most people hold a view of the Washington, D.C., metropolitan area as Georgetown and the quiet Maryland and Virginia suburbs, the home of lawyers, political staffers and retired government workers.

But the days when Montgomery County in Maryland and Arlington or Fairfax Counties in Virginia existed only as a giant bedroom for the Capital are over. A large percentage of people work in Virginia and Maryland, two very high-tech and business-friendly states.

The District is also undergoing a renaissance, where entire city blocks are being revitalized and reinvented by a new generation of homebuyers. Dupont Circle, Logan Circle, U Street Corridor and Capitol Hill are the “hot” new places.

Currently, the highest-priced condo is in a new development on Prospect Street in Georgetown, where a four-bedroom, four-bath unit is listed at $4.4 million.

Going north toward Embassy Row, on Massachusetts Avenue, the mood (and pricing) is changing with a 10-bedroom elegant mansion offered at $18 million.

In short, luxury home prices have proven to be resilient, with a constant movement of local and foreign buyers.

Despite a growing interest in Asia, U.S. real estate has risen to the top of the global property market among foreign investors, with New York City and Washington, D.C., as the top two global cities for foreign investors’ real estate dollars, according to an Association of Foreign Investors in Real Estate survey.

—Angela Eliopoulos, The Global Owner Team, DC-MD-VA-International, Georgetown Long & Foster Realtors

To learn more about Angela and her listings, click here.

To comment on this posting, click here.

In the maple-shaded towns and quiet countryside farm estates that personify the good life in Litchfield County, Conn., and the Berkshires, homebuyers have discovered the virtues and pleasures of a more simple and serene lifestyle—all in a location that is within a two-and-a-half-hour drive from New York City or Boston.

It’s the proximity to those cities that has transformed Litchfield County into a mecca for both celebrities and businessmen alike who crave the privacy and serenity of stunning countryside retreats.

The major attraction is the breathtaking landscape, which abounds with hills and lakes creating a panorama of beauty as far as the eye can see.

Salisbury (including Lakeville), a quintessential New England town, is treasured for its spectacular lakes, lakeside homes and the culture-rich lifestyle of its residents.

The real estate market in Salisbury is stable, and insulated from the current soft market due to the values of its properties and its desirability for weekend homes. An indication of strength is the fact that our waterfront home market has sold out on both Wononskopomuc and Twin Lakes.

Luxury home prices in general have adjusted downward 5 to 15 percent in the area, and now range from $2.95 million for a spectacular country estate in Lakeville to $1.3 million for a well-preserved 18th-century home in Salisbury.

—John Harney, John Harney Associates

To learn more about John and his listings, click here.

To comment on this posting, click here.

Just off the coast of Massachusetts is historic, charming Nantucket Island, a favorite summer residence of CEOs, broadcasters, politicians, and people who love their privacy. With all the amenities of the mainland and an airport that accommodates private jets, Nantucket is rapidly becoming as convenient a getaway for an entrepreneur from Dublin as it is for a Wall Street fund manager. The population of the resort island quintuples to 50,000 during the summer months when its seasonal visitors arrive.

Luxury home prices are significantly higher than in most coastal communities, requiring a minimum of $3 million to break into the market, which nets a generous amount of livable space (up to 5,000 square feet) but no view. Properties of $6 million to $8 million usually feature water views and have more amenities, including pools, tennis courts and guesthouses. There are very few waterfront lots for sale, and custom-built waterfront homes are generally priced in excess of $10 million. With strict architectural and environmental regulations, Nantucket succeeds in retaining a rural, small-town lifestyle with a cosmopolitan flair.

Anybody who vacations in Nantucket establishes a strong emotional attachment, and young families have begun purchasing vacation homes on the island, anxious to provide their kids the experience they fondly remember. Many of them buy here even when they are still renting back in New York City, or abroad, recognizing it as a superb investment for the future. As we like to say, it’s never too early to begin trading in “Nantucket dollars.”

—Jane Miller & Meg Ruley, ACK Broker, At the Offices of Lee Real Estate

To learn more about Jane and Meg and their listings, click here.

To comment on this posting, click here.

Cohasset is the quintessential small New England coastal village, its carefully preserved 18th- and 19th-century homes sharing space with innovative 20th-century architecture.

For all its oceanfront, sandy beaches, spectacular beauty and laid-back charm, Cohasset is only 21 miles southeast of Boston, and all the amenities and culture a city of that size can provide. In short, Cohasset offers the best of both worlds to those residents who commute to work everyday by bus, car or commuter boat from adjoining Hingham. And last year the Boston Commuter MBTA T-Train started service, which cuts travel time to Boston down to 40 minutes, making an easier commute for the bankers, brokers and corporate CEOs who live in Cohasset.

It’s now even better for Cohasset homeowners to enjoy Boston, and then come back home to a village built around a picturesque harbor, sandy beaches and a storybook common with a small duck pond, a variety of fine restaurants and specialty shops.

The Village’s real estate market has not suffered to the extent that the national and state markets have. Home prices are down from their 2003-2004 values, but that makes buying opportunities all the more attractive.

Exquisite luxury properties are available from $1.4 million to more than $13 million and there are two new subdivisions being built by high-end builders, with exceptional homes selling well in the current market. If Boston’s South Shore is the last great growth area in the suburbs, then villages such as Cohasset that have been discovered are understandably drawing excellent buyer interest. This bodes well for future homebuyers.

—Tom Hamilton, Dean & Hamilton Realtors

To learn more about Tom and his listings, click here.

To comment on this posting, click here.

Boca Raton’s ultra-luxury lifestyle has long been known as a welcoming home for young, rising executives and their families, successful entrepreneurs and those looking for a multitude of active lifestyles.

The allure of this picturesque, cosmopolitan city by the sea is understandable, with its business-friendly atmosphere, beautiful beaches, scenic Intracoastal Waterway, highly rated schools, fine dining and excellent quality of life.

In Boca Raton’s ultra-luxury market, condominiums and townhomes remain in high demand. Choice waterfront offerings with ocean and Intracoastal views are still all the rage.

Ultra-luxury buildings with full services, such as valet, concierge, pool attendants and service staff, include 1000 South Ocean on the beautiful Boca Raton Inlet; Mizner Grand on Lake Boca Raton and the grounds of the Boca Raton Resort and Club; and oceanfront buildings such as Presidential Place, Aragon, Excelsior, Luxuria and others.

The market continues to be strong in many of the Intracoastal and oceanfront high-rise and mid-rise buildings, which feature well-designed and detailed residences.

Savvy buyers have returned to the market due to the new adjustments in prices. Now is the time to buy, as there are many outstanding opportunities for those who want their piece of ultra-luxury living in the sun.

In my 30 years in the marketplace I have never seen better buying opportunities. We have pent-up seller desire to sell and that has created an outstanding selection of premium properties from which to choose.

—Scot Karp, Director, Ultraluxury Condominium Division, Premier Estate Properties

To learn more about Scot and his listings, click here.

To comment on this posting, click here.

Since Miami first exploded onto the national scene, South Florida has had a progression of über-fashionable communities. The next “in” spot is Singer Island, located just an inlet north of the ritzy island of Palm Beach, where Bentleys are more common than Fords. With its access to world-class boating, fishing and golf—not to mention superb shopping and dining in nearby Palm Beach Gardens—it is no wonder Singer Island has been discovered.

Like much of South Florida, the luxury market here is primarily seasonal, but I’m seeing people staying longer and jetting down more frequently from New York and Boston during the off-season (West Palm Beach International Airport is just 15 minutes away). Joining buyers from the Northeast are increasing numbers of Europeans and Canadians, as well as Latin Americans. Singer Island offers a wide range of luxury living options, from single-family homes on the Intracoastal Waterway offered at around $750,000 to high-rise condominiums from $1 million to penthouse sky homes with prices soaring to $6 million.

Condo buyers can choose between exclusive boutique buildings with amenities such as concierge service, infinity pools and movie
theaters, to slightly less private units at the Resort at Singer Island, which offer all the advantages of a premier hotel property from about $500,000. A proposed Ritz-Carlton fractional ownership property and construction of a 60,000-square-foot mall featuring world-class dining and shopping will further enhance the allure of Singer Island. The market is beginning to rebound, but the current inventory still offers buyers many options, making this an excellent time to buy.

—Dermot Obrien, Illustrated Properties

To learn more about Dermot and his listings, click here.

To comment on this posting, click here.