Tag Archives: Luxury Homes

Redfin reports that in Q4 2023, the price of U.S. luxury homes rose at twice the pace of non-luxury homes, led by affluent buyers closing the deal in all-cash transactions.

Luxury consumers brought fresh energy to the housing market in 2023 as their ability to pay cash for a home and ignore the lock-in effect increased, according to a new Coldwell Banker Global Program report.

According to a new report from Redfin, just 8% of single-family homes throughout the country are worth more than $1 million, a number which has retreated from an all-time high of 8.6% from just over a year ago.

While the nation’s housing marketplace continues to experience instability, a new report from Point2 has found stability in the price, demand, sale, and inventory levels in luxury properties through the first half of 2023.

In an analysis of the top markets for second-home transactions and luxury homes in 2023, the Sunshine State held eight of the 15 top metros on the list, with Manatee County, Broward County, and Sarasota County experiencing the greatest price appreciation year-over-year.

According to Redfin, luxury-home purchases and investment properties plummeted 45% as the supply of luxury homes also nears historic lows.

Redfin reports that the luxury and investment home market has slid 38.1% year-over-year, due to lingering inflationary concerns, high interest rates, and fears of a recession.

Even higher-end homes were not safe to price hikes and bidding wars in 2021, with the luxury market seeing increases.

A new Redfin analysis shows that sales of luxury homes have become more abundant, with growth in this market currently skewed toward some of the biggest metros in the nation.

A new report looked into the factors that impacted the sale of luxury homes toward the end of last year. Here’s what it revealed.