Despite changes in the real estate and housing market, caused primarily by rising interest rates, recent sales of Frank Lloyd Wright Houses have showed strong resiliency.
In November, in Wisconsin, the 1954 Keland House sold for above asking price. In addition, the Mathews House, 1950, in Atherton, California, sold in September 2022 at what may be the highest per-square-foot price ever for that community.
These sales occurred even as the real estate market, particularly the luxury real estate market, went through a retrenchment over the past 18 months. Redfin News reported a 28% drop in luxury home sales in late September, with that drop nearly twice as steep in the Bay Area.
“We are optimistic that the market for Frank Lloyd Wright homes will continue to be strong. There are a range of buyers for Frank Lloyd Wright homes around the country,” said Barbara Gordon, Executive Director of the Frank Lloyd Wright Building Conservancy. “Many of these buyers are interested in mid-century design and the organic aspects of Frank Lloyd Wright work. They are preservationists in a new and exciting way.”
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Posted December 20, 2022