The luxury market is on a record streak, boasting double-digit growth in 19 of the largest markets in the nation for the first time in over four years. According to the July Luxury Home Index by realtor.com®, High-end homes are moving at an increasingly accelerated rate, with age of inventory at 108 days—11 days faster than in July 2017. The strong economy and affordable interest rates are bolstering demand for luxury homes. While the number of buyers targeting $1 million-plus properties continues to rise, the market shows few signs of diminishing availability.
According to the Index, which analyzes 91 counties in the luxury segment, examining prices in the top 5 percent of all sales, specifically, the fastest-growing luxury markets are:
1.
Price (Top 5%): $1.004 million
+21.2% YoY
2.
Price (Top 5%): $1.27 million
+15.8% YoY
3.
.jpg)
Price (Top 5%): $2.41 million
+14.7% YoY
4.
Price (Top 5%): $2.8 million
+14% YoY
5.
Price (Top 5%): $1.34 million
+13.7% YoY