Record-Breaking Sale Shakes Essex County! What’s Behind This Luxury Home’s Success?
A monumental change in Essex County’s real estate scene occurred at the end of 2024, highlighted by the breathtaking sale of a lavish home in Short Hills. This remarkable property, located at 15 Hillside Ave., fetched a staggering **$8.25 million**, eclipsing the previous record for single-family homes in the area. The house initially hit the market at **$7.925 million**, showcasing the high demand and competitive nature of the local market.
Prior to this sale, the record was held by two properties on Hartshorn Drive, each selling for **$6.8 million**. The same agents, renowned in the luxury market, represented both the previous and now record-breaking sale, further establishing their reputation.
This impressive estate, covering **1.82 acres**, features nearly **13,000 square feet** of luxurious living. Designed by eminent architect Timothy Klesse and constructed by Jan Bronstein, it boasts an extravagant entrance with a grand staircase and a stunning chandelier. The property is defined by its vast great room, a modern kitchen equipped with high-end appliances, and an opulent primary suite with spa-like amenities.
The outdoor space is equally impressive, with a covered porch, outdoor kitchen, a lavish in-ground pool, and beautifully landscaped grounds. The surge in buyer interest was unexpected, leading to multiple offers shortly after the first showing. Thus, this deal not only signifies a financial milestone but also highlights the strong demand for luxury homes in the Essex County market.
Record-Breaking Luxury Real Estate Sale Signals Trends in Essex County
## A New Era in Essex County Real Estate
The luxury real estate market in Essex County underwent a significant transformation at the end of 2024, epitomized by the record sale of an extraordinary property in Short Hills. Situated at 15 Hillside Ave., this lavish estate sold for **$8.25 million**, setting a new benchmark for single-family homes in the area. This sale surpassed the previous record of **$6.8 million**, held by two properties on Hartshorn Drive, indicating a notable uptick in the region’s luxury market.
### Key Features of the Estate
Spanning **1.82 acres** and encompassing nearly **13,000 square feet** of living space, this estate features:
– **Grand Architectural Design**: Designed by renowned architect Timothy Klesse, the home impresses with a magnificent entrance, a grand staircase, and an exquisite chandelier.
– **Luxurious Interiors**: The property includes a vast great room, a state-of-the-art kitchen with high-end appliances, and a primary suite designed for ultimate comfort, complete with a spa-like bath.
– **Outdoor Amenities**: Buyers are drawn to the covered porch, an outdoor kitchen, a lavish in-ground pool, and expertly landscaped grounds, making it ideal for entertaining and relaxation.
### Market Trends and Insights
The successful sale of this estate reflects broader trends in the Essex County real estate market:
– **High Demand for Luxury Homes**: The immediate interest and multiple offers on the property upon listing underscore a competitive luxury market, driven by affluent buyers seeking upscale residences.
– **Real Estate Agent Performance**: The agents involved in this notable transaction, who also represented the former record-holders, cement their status as leading figures in the luxury real estate sector.
### Pricing and Market Analysis
– **Initial Listing vs. Sale Price**: The property originally listed at **$7.925 million**, indicating strong buyer enthusiasm and willingness to pay a premium for the right luxury home.
– **Comparative Sales**: This sale not only sets a new record but also provides insight into shifting buyer preferences and valuations in Essex County, propelling the local market into a new phase of growth and opportunity.
### Future Predictions
As Essex County continues to attract high-net-worth individuals, experts predict further escalation in luxury home prices, along with increasing demand for distinctive architectural designs and premium property features.
For more information on Essex County real estate, visit Essex County Realty.
### Conclusion
The sale of the property at 15 Hillside Ave. marks a pivotal moment for Essex County real estate, reflecting not just a record transaction but also a broader trend towards luxurious living. As the market evolves, stakeholders will keep a keen eye on future developments and pricing trends within this vibrant sector.
