Luxury Today vs Luxury of Yesterday

Atlanta Real Estate
Fine Homes
Harry Norman Realtors

For decades, the luxury real estate market has dazzled the public with larger-than-life homes, grandiose designs, and stately architecture. When you imagine luxury properties, immaculate landscapes, museum-worthy décor, and finishes, a bedroom (or two) for every inhabitant and a multi-million-dollar price tag are likely to come to mind. So, what if we told you that you could purchase a luxury home with all the bells and whistles for $35,000? You most certainly could, if you were in the 1920’s. This begs the question, what was the standard of luxury throughout the century? Here we explore a few differences and similarities of luxury today compared to the luxury of yesterday.

Price of Luxury Real Estate

Pickfair in 1920

Did you know that the median price of a home in 1960 was just $11,900? Most cars today cost more than that. By 2020, the median price of a home reached $320,000. In 1962, Marilyn Monroe purchased a lavish property for just $75,000, which then sold for $7.25 million in 2017.

Another sprawling estate (pictured, source: Wikipedia Commons), once owned by silent film actress Mary Pickford, was purchased for just $35,000. Named Pickfair, this eighteen-acre property included an oyster-shaped swimming pool with its own sandy beach, kennels, a tennis court, and housing for the fifteen live-in staff.  

One of the most famous estates, Graceland, was purchased by Elvis Presley for $102,500 in 1957, which would be just under $1 million in today’s dollars. During Presley’s stay at Graceland, the estate grew from 10,266 square feet to 17,552 square feet as he kept remodeling and expanding the neoclassical mansion. 




Comment on blog post.