Mansion Global Daily: Shrinkage is coming to luxury real estate, underpricing is less common in Australia’s cooling property market, and more

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A typical million-dollar house in the United States is smaller and older than before the pandemic

It also has fewer bathrooms. Read more

IN NUMBERS


TRENDING TODAY


LIST OF THE DAY


62-acre estate that was the longtime residence of Illinois Governor Big Jim Thompson

The southwest Michigan property features a private 8-acre lake, pool, and elegant guesthouse. Read more

SMART HOMES


Clever massage chairs that will rub you the right way

These high-end machines offer perks like built-in speakers and modern, sleek designs. Read more

NEWS

Toronto Skinny House seeks C$1.9 million

A super-narrow home in Toronto’s Little Portugal neighborhood that’s just eight feet wide and three stories high has hit the market for C$1.9 million (US$1.44 million). “Don’t rely too much on the narrow size of the house when you’re outside,” said listing agent Keven Trudel. “I believe when you are inside you will see the fantastic workmanship that makes the house so comfortable.” CityNewsToronto

An island in Virginia asks for nearly $5 million

A private island in northern Virginia is up for grabs for $4.7 million. Known as Chopawamsic Island, off Quantico, the island – which once counted John Lennon among its potential buyers – is only accessible by boat. “It’s 13 acres, it’s beautiful. It has a 360 degree view of the water, there’s also a beach and there are three houses,” said listing agent Nick Letendre of Samson Properties. The objective is to find a buyer who will know how to preserve the history of the island. Fox 5 DC

Understatement is less common in the Australian cooling properties market

As the Australian property market comes back to earth after a frenzied few years, underpricing – a phenomenon where asking or indicative prices are well below the actual selling price of a home due to competitive market conditions – is on the decline. . At the beginning of last year, “everyone knew that if they [had] any chance of buying, they had to add 100,000 to 200,000 Australian dollars (68,774 to 137,549 US dollars) on top,” said buyer’s agent Mark Ribarsky of Wise Real Estate in Victoria. “That doesn’t happen anymore.

Dome Home on the market in the Chicago area

A futuristic-looking domed home in LaSalle County, Illinois, near Chicago, is on the market for $599,000. The over 4,000 square foot home was designed by a Montreal firm and built in three years using custom-cut components. Inside, the home features four bedrooms, vaulted cathedral ceilings, a built-in projector screen, and a deck overlooking the rear of the property. NBC Chicago

AROUND NEWS CORP

A First in Cambridge—New Build Rentals [The Times of London]

Live big for less: The 10 US cities with the cheapest mansions for sale in 2022 [Realtor.com]

‘A complete nightmare’: Luxury Jersey City building beset by flooding and inoperative elevators, tenants say [New York Post]

Wrigley Gum Empire Heir sells Aspen Mansion for $30 million [The Wall Street Journal]

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