Most Expensive Home Sale of 2006

The Institute for Luxury Home Marketing recently reported about the most expensive home sold in the United States during 2006, and the most expensive home turns out to be an English-style estate in Alpine, NJ which sold for $58 million US dollars.

From the Forbes article on the most expensive home sales of 2006

Approximately five miles from Manhattan, real estate investor Richard Kurtz’s new holding is a 10,000-square-foot English-style country house built in the 1930s by the Henry Clay Frick family. The 63-acre estate hosts two guest cottages, three greenhouses, a pool and tennis courts. At a whopping $58 million it is the largest sale of the year, significantly beating 2005’s high of $45 million.

From the Marketwatch article on the most expensive home sold in 2006

The price was substantially lower than 2005′s biggest sale, the record-setting $70 million sale of financier Ron Perelman’s Palm Beach, Fla., oceanfront estate, according to the institute.

That said, sales of homes priced at $5 million and greater were on the rise in 2006, the group reported. And at least 10 buyers throughout the country were willing to shell out $28 million or more for high-end residences last year.

Who knows what high-end expensive real estate will be put on the market and sold. When the ultra-rich find the property that they want often money is of not a factor. We could see a home sale of more than 100 million but the most expensive home sale could decline again this year.