coopers hawks apartments have become the next big thing in the home market.
With new models from the likes of Home Depot and Lowe’s, coopers have raised eyebrows among investors with a price tag of up to $1 million and a median listing price of $4,800, according to a survey by the Real Estate Board of Greater Boston.
The trend is set to continue in the coming months as a few more retailers launch new coopers-only homes in their stores, including TJ Maxx, Saks Fifth Avenue and Bed Bath & Beyond.
Coopers are expected to take the lead in the next wave of home prices as they are more affordable than most other luxury homes, according a report from Credit Suisse.
For now, there are two major coopers that are in the race to be the first to enter the market.
One is The Colony Group, which has just announced plans to build a $1.7 million, four-bedroom, 1,300-square-foot condo in the River Ridge neighborhood of Washington, D.C. The other is Home Depot, which just announced a $4 million, six-bedroom house in the affluent Washington, DC neighborhood of Woodbridge.
“The Colony Group’s plans are a good start and we are confident in their ability to capitalize on this trend, but Home Depot’s plans for the Riverview property are also impressive and are positioned to be a great home for investors and home buyers,” said Chris Pomeranz, the head of U.S. residential research at Credit Suise.
While the prices may seem too high, the properties in the two properties will likely sell for closer to $400,000 to $500,000, Pomeraz said.
Home Depot and Coopers hawkers are in a different class of luxury home builders, where the prices are still relatively high.
They are not alone in the luxury home market, but they are leading the way as the home building industry has been growing for the past decade.