2024 was a good year for the ultra-luxury real estate market, with a small portion of the areas staying outside as the main markets in that category, according to a Compass report.
Compass found America’s ultra-luxury market, scored over 1,700 sales of houses at least $ 10 million over the past year, marking a 350% jump from 2023. Those sales, said real estate firm were worth a comb worth $ 31.39 billion.
Of that stunning figure, nearly $ 23.2 billion came from ten countries in four countries that dominated the ultra-luxury market by the volume of sales, according to the report.
New York, California, Florida and Colorado all had representation among the highest ultra-luxury markets of 2024 in the US, the Compass report said.
Here are the five markets that towards the Compass rankings for ultra-luxury properties according to the sales volume and how many houses of at least $ 10 million changed hands every year. Fox Business also calculated the average price of ultra-luxury sales for each by dividing the volume of sales with the number of houses sold, based on the firm’s report.
Manhattan
- Total volume of ultra-luxury sales: $ 7.5 billion
- Houses sold: 307
- Average price: $ 24.6 million
Los Angeles Great
- Total volume of ultra-luxury sales: $ 3.3 billion
- Houses sold: 190
- Average price: $ 17.5 million
Miami-Dade
- Total volume of ultra-luxury sales: $ 2.7 billion
- Houses sold: 152
- Average price: $ 18 million
Palm Beach District
- Total volume of ultra-luxury sales: $ 2.5 billion
- Houses sold: 132
- Average price: $ 18.8 million
Orange circuit
- Total volume of ultra-luxury sales: $ 1.6 billion
- Houses sold: 107
- Average price: $ 14.8 million
From the volume of sales of ultra-luxury houses, Compass found that aspen decided no. 6 by $ 1.4 billion, Hamptons decided no. 7 with $ 1.2 billion, Silicon Valley decided no. 8 by $ 1.06 billion, Southwest Florida decided no. 9 with $ 1.03 billion and San Diego decided no. 10 with $ 835. 8 million.
“The premium market continues to oppose expectations with a momentum wave from the coast to the coast,” said the luxurious head -head Felipe Hernandez Smith in a press release.
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