The house was built on a piece of property that belonged to an estate that also houses a luxury condo development.
The owner, Andrew S. Gannon, is a member of the estate’s board of directors, which oversees a vast portfolio of properties across the United States.
The property is called Avondale, and it’s a parcel of land known as the Staircase of the Gods, according to a property map on the estate website.
It’s located at 6201 S.E. Fairbanks Highway, and is a private, two-story house with a garage, a swimming pool, tennis courts and other amenities.
It took the estate more than two years to construct the house, according a company that manages the estate, Aten, Inc. According to a 2016 report from real estate research firm RealtyTrac, the average price of a new house in the U.S. has increased by nearly 7% since 2000.
For the first time in decades, the number of homes listed for sale has surged, and sales are expected to reach a record high of 1.25 million units in 2019, according the RealtyTrac report.
“In 2017, sales were up by more than 6%, which is unprecedented for any year,” the report said.
The average price for a new home in the United State has increased 7.4% in the past decade, according To Home and the National Association of Realtors.
This means that even as sales are rising, the median price of new homes has decreased over the same period, according data compiled by Zillow.
That’s not to say the housing market is a bubble.
The median price for homes in the top 10 metropolitan areas in the country is $1.3 million, according Zillows.
The report also shows that prices in the housing industry are on the rise.
A median price increase of 2.6% was reported in the residential property industry in the first quarter of 2019.
“We are witnessing a significant uptick in the affordability of housing for the first several years of this century,” said Zillower senior economist Tom Versteeg.
“And we’re starting to see that trend continue.
We’re beginning to see prices for new construction increase for a variety of reasons, and affordability is one of them.”
The number of Americans living in rental-condo-style units in the metropolitan area grew by 5.3% from 2000 to 2019, Zillowers data shows.
The number rose from 7.7 million to 11.6 million, a growth of 11.1%.
That growth was led by large metropolitan areas like New York and Los Angeles, where the rental market has seen a steady increase over the past few decades.
In the past several years, rental demand has continued to rise, particularly in California and the South, according experts.
“Rental housing is still a fairly new industry,” said Tom Verstaetter, chief economist at ZillOW.
“It’s still a very small percentage of the overall housing market, but it is a big portion of it.
That doesn’t mean it can’t continue to grow.
The market is getting bigger and more competitive.
That makes the market very resilient.”