REAL ESTATE • Market Report
It was a strong year for ultra luxury home purchases in 2024, with 1,744 properties trading hands nationwide at $10M or above. That’s a 12% increase over last year, per Compass’s year-end Ultra Luxury Report. Ten markets accounted for 70% of all sales, with Greater Los Angeles in the second slot, Orange County in fifth, and San Diego in 10th.
The full top 10:
Manhattan NY • 307 sales (20%)
Greater Los Angeles CA • 190 (-18% YoY)
Miami-Dade FL • 152 (29%)
Palm Beach County FL • 132 (21%)
Orange County CA • 107 (32%)
Silicon Valley & Peninsula CA • 72 (1%)
Southwest Florida FL • 72 (76%)
The Hamptons NY • 70 (-3%)
Aspen CO • 58 (-12%)
San Diego CA • 56 (30%)
Elsewhere in the ultra-luxe neighborhood, Silicon Valley & Peninsula (72 sales, 1%) also cracked the top 10, Lake Tahoe surged (23 sales, 92%), Palm Springs (30 sales, -70%) dipped, and Santa Barbara and Montecito (38 sales, 12%) remained players.
Some other emerging markets: Snowmass Village, Colorado notched 21 $10M+ sales, 3x last year’s number. Tampa Bay and Sarasota, Florida doubled, with 26 sales across the market. Finally, Greater Nashville splashed onto the scene, with nine transactions in 2024 versus last year’s single sale.