Affluent buyers redefine luxury: comfort, privacy over grandeur

The luxury housing market is shifting toward a new paradigm dubbed “quiet luxury,” where buyers are favoring smaller, high-end homes that prioritize comfort and meaningful features over grandeur and ostentation. According to Pamela Liebman, CEO of The Corcoran Group, this trend is a reflection of changing buyer priorities, with affluent individuals seeking homes that offer emotional satisfaction and convenience rather than just size and status [1].

Liebman emphasizes that “quiet luxury” is not about visibility or exclusivity but about creating a space that enhances one’s lifestyle. For instance, a home might feature a beautifully designed porch for evening relaxation or a private garden rather than a sprawling estate that commands attention. This shift is supported by data showing a decline in the average new-home size in the U.S., from 2,314 square feet in Q4 2022 to 2,169 square feet in Q4 2024 [1]. Affluent buyers are also opting for homes that require less maintenance and can be purchased in cash, especially as mortgage rates remain high.

The trend is not just about the size of homes but also about the locations where buyers are choosing to settle. While traditional luxury markets like the Hamptons, Miami, and Los Angeles remain popular, emerging destinations are gaining traction. On the West Coast, Sonoma County—particularly Healdsburg, Calif.—has seen a surge in luxury home sales, with a 150% year-over-year increase in transactions and 20% of homes receiving multiple offers [1]. The average listing price in the area has risen to more than $1.5 million, according to Zillow, reflecting strong demand from urban buyers seeking a more laid-back lifestyle with vineyard views.

Park City, Utah, is another rising star in the “quiet luxury” market, especially for those seeking a winter retreat. With an average home price of $1.5 million and a 23% increase in median sales prices for new luxury condos in Q2, Park City offers a more accessible alternative to Aspen for affluent buyers [1]. The appeal of Park City lies in its accessibility via commercial flights and its growing inventory of upscale properties that cater to a range of buyer preferences.

On the East Coast, Lake Burton in Georgia and Florida’s panhandle have emerged as new luxury markets. In Lake Burton, listings have exceeded $5 million, with a notable $10 million private island recently coming to market [1]. Meanwhile, in Florida’s panhandle, areas like Inlet Beach and Santa Rosa Beach are attracting attention due to the development of upscale beachfront properties. The average home price in Inlet Beach is $1.7 million, and the region is experiencing rising inventory levels, indicating a solidifying trend in luxury home ownership in these areas.

This shift in buyer behavior suggests that the definition of luxury in real estate is becoming more personalized and less about making a public statement. As Liebman notes, “Luxury in your face might be spitting it out to the rest of the world,” whereas quiet luxury is about finding a home that brings personal joy without drawing attention [1]. This trend is expected to continue as affluent buyers increasingly seek homes that align with their values of convenience, comfort, and privacy.

Source: [1] 'Quiet luxury' is coming for the housing market (https://fortune.com/2025/09/09/quiet-luxury-housing-market-corcoran-group-ceo-hamptons-aspen-miami/)