2024 was a very good 12 months for the ultra-luxury actual property market, with a handful of areas standing out because the main markets in that class, in keeping with a report from Compass.
Compass discovered America’s ultra-luxury market notched over 1,700 gross sales of houses of a minimum of $10 million over the course of final 12 months, marking a 350% soar from 2023. These gross sales, the true property agency mentioned, have been value a mixed $31.39 billion.
Of that staggering determine, practically $23.2 billion got here from ten locations in 4 states that dominated the ultra-luxury market by gross sales quantity, in keeping with the report.
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New York, California, Florida and Colorado all had illustration amongst 2024’s high ultra-luxury markets within the U.S, the Compass report confirmed.
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Listed here are the 5 markets that topped Compass’ rankings for ultra-luxury properties by gross sales quantity and what number of houses of a minimum of $10 million modified palms in every final 12 months. FOX Enterprise additionally calculated the typical ultra-luxury sale value for every by dividing the gross sales quantity by the variety of houses offered, primarily based on the agency’s report.
Manhattan
The Midtown Manhattan skyline is seen from the ‘Edge at Hudson Yards’ commentary deck forward of a complete photo voltaic eclipse throughout North America, in New York Metropolis on April 8, 2024. This 12 months’s path of totality is 115 miles (185 kilometers) huge and residential to (CHARLY TRIBALLEAU/AFP by way of Getty Photos / Getty Photos)
Whole ultra-luxury gross sales quantity: $7.5 billionHomes offered: 307Average value: $24.6 millionGreater Los Angeles 
A layer of smog lingers above the downtown Los Angeles skyline on December 6, 2024. The Nationwide Climate Service on December 4 issued an air high quality alert for the higher Los Angeles space till midnight on December 6. (Picture by ETIENNE LAURENT / AFP) (ETIENNE LAURENT/AFP by way of Getty Photos / Getty Photos)
Whole ultra-luxury gross sales quantity: $3.3 billionHomes offered: 190Average value:$17.5 millionMiami-Dade 
Miami Seashore, Florida, Biscayne Bay, Miami downtown metropolis skyline. (Picture by: Jeffrey Greenberg/UCG/Common Photos Group by way of Getty Photos) (Jeffrey Greenberg/UCG/Common Photos Group by way of Getty Photos / Getty Photos)
Whole ultra-luxury gross sales quantity: $2.7 billionHomes offered: 152Average value: $18 millionPalm Seashore County 
Boats docked subsequent to single-family homes in Palm Seashore, Florida, U.S., on Wednesday, April 7, 2021. Buy contracts for single-family homes priced at $10 million or extra surged 306% in March from a 12 months earlier, the largest acquire for the reason that pandem (Marco Bello/Bloomberg by way of Getty Photos / Getty Photos)
Whole ultra-luxury gross sales quantity: $2.5 billionHomes offered: 132Average value: $18.8 millionOrange County 
Luxurious South Orange County, California on a stupendous day (adamkaz / iStock)
Whole ultra-luxury gross sales quantity: $1.6 billionHomes offered: 107Average value: $14.8 million
By gross sales quantity of ultra-luxury houses, Compass discovered that Aspen positioned No. 6 with $1.4 billion, the Hamptons positioned No. 7 with $1.2 billion, Silicon Valley positioned No. 8 with $1.06 billion, Southwest Florida positioned No. 9 with $1.03 billion and San Diego positioned No. 10 with $835. 8 million.
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“The premium market continues to defy expectations with a wave of momentum from coast-to-coast,” Compass Luxurious Head Felipe Hernandez Smith mentioned in a press launch.
