$100 Million Listings Re-Emerge

More than a dozen homes in the U.S. are now listed—some quietly—on the market for $100 million or more. That's more than the number that were listed during the peak of the housing boom in 2007, CNBC reports.

With $100 million listings, the location of the property—often an oceanfront plot—is more the lure to buyers than amenities, brokers say. For example, a 314-acre Martha's Vineyard estate currently for sale for $118 million has more than 1,200 feet of ocean frontage, as well as a 35-acre freshwater pond.

The priciest property currently on the market in the U.S. is also an oceanfront oasis: a 50-acre property listed for $190 million in Greenwich, Conn., that features 4,000 feet of ocean views, as well as a 12-bedroom Victorian home.

But the sky-high price tags don’t always fly, and these homes don't always sell for that much. The former Spelling mansion in Los Angeles was originally listed for $150 million, but it reportedly ended up selling for $85 million. Also, a 95-acre Aspen, Colo., estate that was once owned by Saudi Prince Bandar bin Sultan originally was listed for $135 million in 2006—but eventually sold for $49 million.

There is a perception that pricing over the $100m threshold draws attention to the property and gets it sold even though the price may have little to do with its value.

Source: “$100 Million House Listings Are Back: Are They Worth the Price?” CNBC (July 17, 2013)