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Canada luxury real estate market sales fall but don’t blame buyers

Canada luxury real estate market sales fall but don’t blame buyers

People are eager to buy homes, if only there were enough listings

Published Apr 19, 2023  •  5 minute read

Sales of luxury real estate properties were slower in the first quarter of 2023 compared to the same time last year.
Sales of luxury real estate properties were slower in the first quarter of 2023 compared to the same time last year. Photo by Tyler Anderson/National Post

Good morning,

Luxury home sales retreated across much of Canada this past winter, but a lack of buyers isn’t to blame for the pullback and the market is expected to pick up this spring, according to Sotheby’s International Realty Canada.

Sales of luxury real estate properties were slower in the first quarter of 2023 compared to the same time last year, with Toronto, Vancouver, Montreal and Calgary all registering declines, says Sotheby’s latest report on the state of high-tier housing.

Toronto and Vancouver, the most expensive housing markets in Canada, bore the brunt of the slump in sales. In Toronto, sales of luxury homes priced $4 million and higher fell 64 per cent from the first quarter of 2022. Transactions of houses above $1 million also slowed, declining 57 per cent over last year. Vancouver sales of residences over $4 million were down 53 per cent year over year, and sales of dwellings above $1 million fell by 51 per cent.

Montreal’s market also climbed down from 2022 levels, with sales of luxury properties above $1 million declining 43 per cent in the first quarter compared to last year. Residences priced at $4 million and higher experienced a slowdown in sales, too, falling 33 per cent year over year.

Meanwhile, Calgary remains a bright spot in the market amid a growing economy that’s attracting new residents from other parts of Canada. But it too experienced slower sales when compared to the same time last year. Sales of $1-million homes fell 36 per cent compared to the first quarter of 2022. However, Sotheby’s says sales are up 223 per cent compared to the same time in 2020, which shows the underlying strength of the market.

The overall drop in home sales isn’t a sign that buyers have given up on homeownership, however. Sotheby’s blames a lack of listings for the downturn in transactions, and says people are ready and eager to get back into the market to find their dream homes.

“A significant cohort of prospective homebuyers and sellers who were reluctant to make a move in 2022 … are now pre-qualified, highly motivated and anxious to find a home that meets their needs and lifestyle,” Don Kottick, chief executive of Sotheby’s International Realty Canada, says in a press release.

Investors also continue to have faith in real estate, with recent research from Sotheby’s and Mustel Group showing that 60 per cent of city-dwelling Canadians believe property will outperform or line up with their other investments over the next 10 years.

That high confidence, combined with pent-up demand, bodes well for the spring housing market, the report says, providing there is enough inventory to meet buyer intentions. Sotheby’s says many sat on the sidelines this winter, in the hope of more inventory coming online in the second quarter. But listings are expected to stay muted, which will likely constrain sales.

“The greatest challenge that (buyers and sellers) are facing is a sheer lack of housing supply across every price point and housing type,” Kottick said. “This shortage is placing a chokehold on real estate markets that would otherwise be primed for healthy activity.”

Still, don’t expect a lack of listings amid a cohort of motivated buyers to translate into big price gains this spring. Higher interest rates that have pushed up the costs of homeownership are keeping people from bidding up prices further, Sotheby’s says. Indeed, inflation data from Statistics Canada released on April 18 shows mortgage interest costs increased 26.4 per cent last month from March 2022. That should continue to keep a lid on home prices this spring, even as the market picks up.

“Properties priced appropriately for the market will see qualified interest and uptake in the coming months,” Kottick said.

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Inflation appears to finally be slowing, which means interest rate increases are likely off the table, at least for now, writes Kevin Carmichael.

The consumer price index increased 4.3 per cent from March 2022, Statistics Canada said on April 18. That was the smallest year-over-year increase since August 2021.

Excluding food and energy, the year-over-year increase was 4.5 per cent, down from 4.8 per cent in February. Excluding mortgage interest costs, the index increased 3.6 per cent, compared with 4.7 per cent the previous month.

Still, though headline inflation is lower to four per cent than its eight per cent peak, it might not feel like much a of a relief for many households. Find out more about what you need to know about the latest consumer price reading.

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  • 150,000 PSAC members comprised of Canada Revenue Agency and Treasury Board workers walk off the job today in what will be the largest federal public service work stoppage since 1991. Here’s what you need to know about how demands for wage increases could affect inflation
  • Suzanne Clark, chief executive of the U.S. Chamber of Commerce, attends a breakfast event in Ottawa, organized by the American Chamber of Commerce in Canada in partnership with the Business Council of Canada and the Canadian Chamber of Commerce
  • Canada 2020 hosts the Net-Zero Leadership Summit in Ottawa. Speakers include Environment Minister Steven Guilbeault and Northwest Territories Premier Caroline Cochrane
  • Imperial Oil Ltd. holds its 2023 investor day and provides an update on its operations and business strategy
  • The United States Federal Reserve Board releases the latest Beige Book report
  • Today’s data: Canadian housing starts, industrial product and raw materials price indices
  • Earnings: Tesla Inc., Morgan Stanley, IBM Corp., Kinder Morgan Inc., Nasdaq Inc., Equifax Inc., Metro Inc., Alcoa Corp.

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Rich people have problems, too, but the advice financial planner Ed Rempel provides for one couple trying to ensure a comfortable retirement applies just as much to the rest of us as it does to them. Do we have enough money to maintain our lifestyle? How can we pass some money to our kids in a sensible way? Where should I park the capital that’s currently sitting in guaranteed investment certificates? Retirement advice this way.

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Today’s Posthaste was written by Victoria Wells (@vwells80), with additional reporting from Financial Post staff, The Canadian Press, Thomson Reuters and Bloomberg.

Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@postmedia.com.

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Luxury-Home Sales Sink Record 45{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} to Near-Record Low

Luxury-Home Sales Sink Record 45{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} to Near-Record Low

That outpaces the record 37{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} decline in sales of non luxury homes. The supply of luxury homes for sale is also near historic lows. 

Sales of luxury U.S. homes declined a record 44.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} year over year to the second lowest level on record during the three months ending Jan. 31, 2023. That outpaced the record 37.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} drop in sales of non-luxury homes. Redfin’s records date back to 2012.

This is according to an analysis that divided all U.S. residential properties into tiers based on Redfin Estimates of the homes’ market values as of Feb. 25, 2023. This report defines luxury homes as those estimated to be in the top 5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} based on market value, and non luxury homes as those estimated to be in the 35th-65th percentile based on market value. 

The housing market has cooled significantly over the last year due to elevated mortgage rates, persistently high home prices, ongoing inflation and a shaky economy, but the luxury market has fallen relatively quickly because:

  • People tend to purchase fewer expensive goods during times of economic uncertainty.
  • Luxury home sales grew faster than non luxury sales during the pandemic, so they now have more room to fall (see chart above).
  • A higher mortgage rate makes homebuying more expensive for nearly everyone, but it can add tens of thousands of dollars to the price tag on a luxury home, giving high-end buyers sticker shock.
  • Wealthy homebuyers often have a lot of money in the stock market, which had a turbulent start to 2023 following its worst year since 2008.
  • Many wealthy Americans are choosing to invest in assets other than real estate because elevated mortgage rates and softening housing prices have cast a shadow over prospective real estate returns.

“Uncertainty is the main factor driving the luxury-market slowdown in Los Angeles,” said Alin Glogovicean, a local Redfin Premier real estate agent. “If you’re investing millions in a property, you want to make sure it will hold its value. Most luxury buyers and sellers are thinking, ‘Let’s just wait and see what happens to the market. When it stabilizes, we’ll be ready to go.’ Everyone is kind of at a standstill.”

The drop in high-end home sales was led by expensive markets on the East Coast and in California. In Miami, luxury-home sales slumped 68.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} year over year during the three months ending Jan. 31, the largest decline among the most populous U.S. metropolitan areas. Next came Nassau County-Suffolk County, NY (-62.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}). Three California metros rounded out the top five: Riverside (-59.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Anaheim (-59.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and San Jose (-59{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}). These markets are likely seeing high-end buyers back off because they were already among the least affordable in the nation, and rising rates added fuel to the fire. These markets also saw outsized surges in luxury sales during the pandemic, so luxury purchases are also likely coming down from unsustainable levels.

“The silver lining for the luxury buyers who are still in the market is that competition is sparse and jumbo loans now often have lower mortgage rates than other loan types, in part because there’s less risk that high-end buyers will default on their mortgages,” said Redfin Economics Research Lead Chen Zhao. “Wealthy house hunters are also frequently offered additional rate discounts from their banks as a perk for storing substantial funds there.”

Zhao continued: “Luxury homebuyers should still shop around for the best mortgage rate possible. Research shows that when rates are high, so is the variance in rates between lenders. That’s why it’s smart to request quotes from several lenders and then ask your favorite lender to match the lowest rate.”

Luxury-Home Prices Remain Near Their Peak

The median sale price of luxury homes rose 9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} year over year to $1.09 million during the three months ending Jan. 31. While that’s roughly half the year-over-year gain of a year earlier, luxury prices remain near the all-time high of $1.1 million reached in spring 2022.

The median sale price of non luxury homes increased 6.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} year over year to $319,000, roughly one-third of the gain of a year earlier. 

While the housing market has slowed significantly, home prices have been propped up by a lack of supply. 

Luxury-Housing Supply Is Just Shy of Its All-Time Low

The number of luxury homes for sale rose 7.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} year over year during the three months ending Jan. 31, the biggest jump since 2015. The sizable year-over-year increase is largely due to the fact that supply hit rock bottom roughly a year earlier; supply is also piling up because so few people are buying homes.

But supply remains tight by historical standards. The number of luxury homes for sale was not much higher than the record low hit about a year ago.

The number of non luxury homes for sale fell 5.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} year over year during the three months ending Jan. 31, but the story is similar to that in the luxury market: There’s a supply shortage. The number of non luxury homes was at the lowest level on record. 

Supply remains near historic lows in part because fewer people are putting their homes on the market. With mortgage rates on the rise, many homeowners are hesitant to sell because they don’t want to give up their relatively low rate.

New listings of luxury homes fell 6.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} year over year. New listings of non luxury homes slumped 22.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}, the second biggest drop on record.

Metro-Level Highlights: Three Months Ending Jan. 31, 2023

Redfin’s metro-level data includes the 50 most populous U.S. metropolitan areas, with the exception of Cincinnati, Detroit, San Antonio and Warren, MI, which we excluded as we investigate the data to ensure accuracy. Scroll down to the table below to find data on your metro.

  • Home sales: Luxury home sales fell in every metro. The biggest declines were in Miami (-68.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} YoY), Nassau County-Suffolk County (-62.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Riverside (-59.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Anaheim (-59.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and San Jose (-59{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}). The smallest decreases were in Kansas City, MO (-23.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Cleveland (-24.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Pittsburgh (-29.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), St. Louis (-30.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and Dallas (-31.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}).
  • Supply: Active listings of luxury homes rose in 25 metros, with the biggest increases in Austin, TX (62.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} YoY), Denver (50.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Nashville, TN (40.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Seattle (38.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and Atlanta (36.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}). The largest declines were in Anaheim (-21.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), San Jose (-18.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), St. Louis (-13.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Miami (-13.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and San Diego (-12.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}).
  • New listings: New listings of luxury homes fell in 37 metros. The biggest declines were in Chicago (-40.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} YoY), Anaheim (-38.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Oakland, CA (-36.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), San Jose (-35.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and San Diego (-32.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}). The largest gains were in Austin (36{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Atlanta (16.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Denver (15.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), West Palm Beach, FL (14.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and Nashville (11{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}).
  • Prices: The median sale price of luxury homes fell in just four metros: San Jose (-10.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} YoY), San Francisco (-4.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Oakland (-3.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and Sacramento, CA (-1.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}). The biggest jumps were in Jacksonville, FL (23.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Orlando, FL (20{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Tampa, FL (18.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}), Miami (17.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) and Atlanta (16.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}).

Luxury Housing Market Summary by Metro Area: Three Months Ending Jan. 31, 2023

U.S. Metro Area Homes Sold, YoY Change Active Listings, YoY Change New Listings, YoY Change Median Sale Price Median Sale Price, YoY Change Median Days On Market
Anaheim, CA  -59.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -21.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -38.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $3,800,000 9.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 75
Atlanta, GA  -56.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 36.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 16.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,150,000 16.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 52
Austin, TX  -51.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 62.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 36.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,950,000 11.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 66
Baltimore, MD  -43.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -4.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -7.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,040,000 6.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 50
Boston, MA  -36.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 14.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -6.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $2,200,000 4.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 41
Charlotte, NC  -45.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -11.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -17.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,210,500 15.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 61
Chicago, IL  -43.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -11.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -40.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,070,000 6.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 84
Cleveland, OH  -24.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -12.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -17.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $663,400 3.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 33
Columbus, OH  -33.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -7.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -14.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $780,800 8.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 44
Dallas, TX  -31.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 26.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -2.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,300,000 8.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 44
Denver, CO  -41.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 50.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 15.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,600,000 6.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 32
Fort Lauderdale, FL  -53.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -4.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -17.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,595,000 16.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 76
Fort Worth, TX  -36.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 11.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -16.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,000,000 8.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 64
Houston, TX  -46.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 0.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -12.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,100,000 14.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 41
Indianapolis, IN  -33.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 11.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 7.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $785,000 9.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 26
Jacksonville, FL  -43.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 12.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 0.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,292,500 23.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 53
Kansas City, MO  -23.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 1.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -18.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $824,600 8.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 33
Las Vegas, NV  -55.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 6.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -26.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,175,000 11.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 84
Los Angeles, CA  -55.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -9.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -11.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $3,622,500 10.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 64
Miami, FL  -68.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -13.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -18.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $2,845,000 17.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 119
Milwaukee, WI  -36.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -8.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -7.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $847,500 9.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 69
Minneapolis, MN  -34.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 2.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -29.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $944,600 6.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 39
Montgomery County, PA  -36.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -2.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 3.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,220,400 12.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 48
Nashville, TN  -31.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 40.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 11.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,562,700 9.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 74
Nassau County-Suffolk County, NY  -62.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -2.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -16.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $2,475,000 3.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 86
New Brunswick, NJ  -44.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 3.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -12.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,690,000 12.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 89
New York, NY  -44.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -5.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -18.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $3,625,000 10.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 82
Newark, NJ  -42.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 8.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -5.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,480,000 7.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 26
Oakland, CA  -55.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -5.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -36.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $2,580,000 -3.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 21
Orlando, FL  -47.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 8.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -11.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,050,000 20.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 33
Philadelphia, PA  -49.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 0.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -8.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,008,500 15.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 44
Phoenix, AZ  -50.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 11.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -12.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,590,900 11.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 64
Pittsburgh, PA  -29.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -4.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -6.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $725,000 7.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 64
Portland, OR  -48.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 10.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -11.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,280,000 2.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 43
Providence, RI  -42.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -10.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -22.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,287,500 9.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 43
Riverside, CA  -59.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -6.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -24.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,395,000 11.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 63
Sacramento, CA  -55.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 5.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -29.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,400,000 -1.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 65
San Diego, CA  -58.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -12.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -32.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $3,187,500 12.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 43
San Francisco, CA  -54.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 9.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 1.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $4,700,000 -4.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 35
San Jose, CA  -59.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -18.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -35.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $4,005,000 -10.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 49
Seattle, WA  -50.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 38.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -20.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $2,550,000 2.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 34
St. Louis, MO  -30.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -13.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -15.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $775,000 3.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 30
Tampa, FL  -41.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 20.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -3.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,300,000 18.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 24
Virginia Beach, VA  -47.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -2.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -5.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $970,000 13.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 39
Washington, D.C.  -47.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -9.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -22.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,610,000 5.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 43
West Palm Beach, FL  -51.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 19.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 14.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $2,700,000 14.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 69
National—U.S.A. -44.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 7.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -6.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,088,900 9.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 54

 

Non Luxury Housing Market Summary by Metro Area: Three Months Ending Jan. 31, 2023

U.S. Metro Area Homes Sold, YoY Change Active Listings, YoY Change New Listings, YoY Change Median Sale Price Median Sale Price, YoY Change Median Days On Market
Anaheim, CA  -42.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -4.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -30.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $927,000 4.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 47
Atlanta, GA  -47.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 20.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -11.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $350,000 9.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 42
Austin, TX  -34.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 5.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -32.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $477,000 2.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 70
Baltimore, MD  -39.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -26.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -30.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $325,000 3.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 29
Boston, MA  -32.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -17.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -26.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $625,000 4.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 26
Charlotte, NC  -44.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 5.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -21.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $347,000 11.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 51
Chicago, IL  -38.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -3.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -31.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $277,500 4.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 63
Cleveland, OH  -32.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -18.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -20.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $180,000 5.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 30
Columbus, OH  -30.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -11.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -23.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $273,300 9.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 44
Dallas, TX  -30.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 13.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -14.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $380,000 8.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 45
Denver, CO  -38.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 31.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -8.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $545,000 2.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 36
Fort Lauderdale, FL  -40.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -9.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -16.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $380,000 15.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 51
Fort Worth, TX  -31.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 29.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -2.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $320,000 6.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 42
Houston, TX  -29.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 6.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -21.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $295,800 7.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 41
Indianapolis, IN  -32.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 0.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -22.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $245,600 6.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 19
Jacksonville, FL  -47.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 5.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -28.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $345,000 12.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 54
Kansas City, MO  -32.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -15.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -28.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $255,000 5.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 26
Las Vegas, NV  -56.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 2.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -43.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $385,000 1.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 64
Los Angeles, CA  -46.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -14.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -38.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $765,000 0.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 51
Miami, FL  -43.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -11.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -25.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $448,500 19.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 59
Milwaukee, WI  -33.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -32.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -27.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $257,500 6.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 44
Minneapolis, MN  -39.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -8.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -29.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $335,000 1.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 34
Montgomery County, PA  -34.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -21.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -31.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $420,000 7.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 24
Nashville, TN  -44.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 14.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -19.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $418,200 13.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 56
Nassau County-Suffolk County, NY  -45.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -21.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -33.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $597,800 5.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 36
New Brunswick, NJ  -37.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -13.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -24.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $469,000 11.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 48
New York, NY  -38.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -12.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -22.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $690,000 6.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 61
Newark, NJ  -34.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -13.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -18.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $465,000 10.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 36
Oakland, CA  -42.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -4.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -32.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $875,000 -2.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 31
Orlando, FL  -40.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 6.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -25.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $367,000 12.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 36
Philadelphia, PA  -52.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -15.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -28.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $219,000 6.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 43
Phoenix, AZ  -52.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -3.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -42.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $420,000 0.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 64
Pittsburgh, PA  -31.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -19.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -24.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $180,000 2.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 58
Portland, OR  -43.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -16.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -40.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $520,900 3.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 32
Providence, RI  -37.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -26.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -29.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $405,000 9.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 29
Riverside, CA  -47.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -10.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -36.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $530,000 5.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 55
Sacramento, CA  -49.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -10.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -41.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $535,000 -1.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 43
San Diego, CA  -50.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -21.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -48.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $799,000 5.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 33
San Francisco, CA  -38.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -4.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -27.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,310,000 -8.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 38
San Jose, CA  -45.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -20.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -39.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $1,325,000 -4.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 25
Seattle, WA  -42.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 8.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -30.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $729,900 -0.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 32
St. Louis, MO  -32.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -16.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -19.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $212,000 7.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 25
Tampa, FL  -35.9{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 19.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -16.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $354,900 14.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 33
Virginia Beach, VA  -37.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -19.4{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -26.0{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $302,000 8.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 28
Washington, D.C.  -43.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -12.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -29.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $485,000 2.7{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 46
West Palm Beach, FL  -39.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 2.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -19.6{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $410,000 17.1{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 60
National—U.S.A. -37.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -5.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} -22.5{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} $319,000 6.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} 40

 

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The Best Home Decor Sales On Our Radar Right Now

The Best Home Decor Sales On Our Radar Right Now

Hay: Find savings on sculptural outdoor decor and furniture at up to 15{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} off.

Amazon: Unearth savings on backyard and beach needs—like the striped umbrella above.

Wayfair: Turn your home into an oasis by saving on fire pits, furniture, and more outdoor finds.

The Best Dining Deals

Cabana Magazine Set of four Wisteria porcelain dinner plates

Campbell-Rey X Laguna B set of two Cosima wine glasses

Serena & Lily Bamboo 5-piece place setting

Serena & Lily Tulum wine cooler

MatchesFashion: Shop the best dinnerware and so much more at discounted prices while supplies last.

Serena & Lily: Decorate your table with bamboo-trimmed utensils and raffia coolers for a fraction of the price.

West Elm: Save on kitchen essentials and dining needs for a limited time.

Design Within Reach: During the semi-annual sale, save up to 50{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} on mugs, candle holders, and more.

Our Place: Save on pots, plates, and all your cooking needs by bundling up your purchase.

The Best Furniture Deals

All Modern Gallman fabric side chair set of 2

Anthropologie Audrey nesting coffee table

Serena & Lily Balboa rattan chest

1st Dibs: Find the best assortment of vintage and contemporary furnishings at a fraction of the price.

Serena & Lily: During this year’s spring sale, Serena & Lily is offering 20{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} off of everything, including extra savings on sale items—like the rattan chest above.

Anthropologie: Score coffee tables, storage cabinets, and a treasure trove of home essentials in the sale section.

Wayfair: Discover chairs, sofas, and more interior design needs for less during the seasonal savings event.

The Best Cushion and Throw Blanket Deals

Brooklinen Pure wool throw

Serena & Lily Madera pillow cover

Casaluna Euro 26″ x 26″ textured chambray cotton decorative throw pillow

Casper: From throws to pillows, shop all of your bedding needs for less this weekend.

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The Most Expensive U.S. Real Estate Sales Of 2022

The Most Expensive U.S. Real Estate Sales Of 2022

Billionaire Larry Ellison’s $173 million Palm Beach estate topped the list last year, along with a $100 million Malibu dream house bought by media mogul Byron Allen and a $75 million Beverly Hills mega-mansion owned by rap superstar Drake.

The luxury real market in America saw many record-breaking sales in 2022, including several north of $100 million. Among the billionaires undeterred by the economy last year was Oracle cofounder Larry Ellison who, after just missing 2021’s most expensive home sales list, topped the list in 2022 with the purchase of Netscape cofounder Jim Clark’s 16-acre compound in Manalapan, Florida for $173 million. Another trophy home collector, billionaire hedge fund manager Ken Griffin also added a new property to his collection last year with the purchase of a $107 million home in Miami. And rap superstar Drake is the sole entertainer on the list after buying a 20-acre estate in Beverly Hills.

On the global front, residential property sales slumped, but not everywhere. Numerous cities, regions and second-home destinations—including Arizona and Massachusetts as well as Dubai and Melbourne— notched record prices in 2022. Also, the strong dollar spurred some Americans to buy property in big European cities such as London, Paris and Lisbon.

Here are the most expensive and notable luxury homes sold in the U.S. in 2022 for which public records or reports are currently available.

$75 Million

Los Angeles, California

After shopping around for a new home in Los Angeles for months, Drake landed in the Beverly Hills area with a 20-acre estate, a size and scale unheard of in 90732. The 36-year-old artist bought the $75 million property in Benedict Canyon from English singer-songwriter Robbie Williams in March, four months before selling his Hidden Hills compound, affectionately known as “Yolo Estate,” for $12 million. Designed by L.A. architectural firm KAA Design Group, Drake’s new 20,000-square-foot mansion has 22 bathrooms, an 11-car garage and a wine cellar. The sprawling grounds also feature a mosaic-tiled pool, a tennis court and orchard.

$75.9 Million

New York, New York

Located in Manhattan’s Crown Building—home of the new Aman New York—the 6,791-square-foot residence known as the Jala Penthouse was purchased last July for $75.9 million. (The buyer was anonymous and identified only as Albatross Apartment LLC.) Spanning the entire 20th floor, the penthouse features four bedrooms and more than 3,700 square feet of outdoor landscaped terrace spaces replete with a pool and spa. The buyer was anonymous and identified only as Albatross Apartment LLC. The first home to the Museum of Modern Art, the Crown Building was converted into a luxury hotel on its lower floors, with 22 condos on the 15th to 26th floors.

$84.5 Million

East Hampton, New York

Billionaire financier Ronald Perelman sold one of his two East Hampton estates for $85.4 million amid an annus horribilus that saw Revlon’s largest shareholder declare bankruptcy for the cosmetics company in June. After being on and off the market since the summer of 2021, the beachfront property was sold to an anonymous buyer last January. The 11,435-square-foot estate sits on more than 9 acres off tony Lily Pond Lane. In addition to the sale, Perelman has also reportedly listed his Manhattan Upper Eastside townhouse for $115 million while rumors of his other historic Hamptons retreat, the Creeks, being for sale continued to circulate.

$86 Million

Palm Beach, Florida

Less than 10 months after selling for $64 million, an oceanfront property just north of the Palm Beach Country Club once again traded hands, this time for $86 million. The Bermuda-style estate first made headlines during its development phase after initial designs were deemed oversized for the 1.14-acre lot. In the end, the home was scaled back and completed by real estate investor and spec home developer Clark Beaty, who sold the property to Beechgreen LLC which then sold it to an undisclosed buyer last June. The estate encompasses about 18,000 square feet of indoor and outdoor living space and includes a wine cellar, gym and guest house.

$91 Million

Malibu, California

Closing in the last weeks of 2022, the $92 million sale of a 6.6-acre Malibu estate is the latest in a string of massive transactions to take place in Paradise Cove, including venture capitalist Marc Andreessen’s $177 million compound which topped the list in 2021. Originally listed for $125 million by sellers Jon Burton, a video game designer, and his ex-wife, Helen Musk, the couple purchased the property a decade before for $36.5 million from computer pioneer, Max Palevsky. Built in 1975, the Mediterranean estate offers private access to the beach, manicured gardens, a resort-like swimming pool and north/south lighted tennis court.

$92.8 Million

Golden Beach, Florida

Billionaire Phillip “Terry” Ragon, founder of technology company InterSystems, purchased three homes on Ocean Boulevard just north of Miami in a single transaction for a reported $92.8 million last June. The complex acquisition required negotiations with three sellers, including fashion photographer Bruce Weber and his wife, Nan Bush. The most expensive of the three properties, a six-bedroom, six-bathroom Spanish-style mansion built in 1936, sold for $45 million. Combined, the three properties total roughly 1.7 acres with about 275 feet of ocean frontage. Ragon also purchased a separate property in the area in 2021 for just under $20 million. According to the Wall Street Journal, Ragon intends to raze the beach houses and replace them with one home.

$100 Million

Malibu, California

In October, Public Storage executive and billionaire Tamara Gustavson sold her oceanside Malibu estate to media mogul Byron Allen for a $100 million. The 11,000-square-foot compound was formerly owned by B. Wayne Hughes, Gustavson’s late father, who co-founded Public Storage in 1972. Allen, the founder and CEO of Entertainment Studios, has quietly built an impressive real estate portfolio over the past few years that includes two side-by-side properties he purchased for $32 million eight months earlier. Set in the billionaire hive of Paradise Cove, Allen’s new neighbors include WhatsApp cofounder Jan Koum, who owns an adjacent $187 million compound.

$101 Million

New York, New York

Before his death in 2018, Microsoft co-founder Paul Allen had accumulated a wealth of real estate around the country, including two Manhattan co-ops that sold in July for a combined $101 million. Purchased by an anonymous buyer, Allen’s Upper East Side penthouse was sold with the full-floor unit directly below it. He reportedly obtained the penthouse in 2011 for $25 million and the 11th-floor unit nine years earlier for $13.5 million.

$106.9 Million

Miami, Florida

Hedge-fund billionaire Ken Griffin purchased a waterfront estate in Coconut Grove for $106.9 million last September, the first Miami home to eclipse nine figures. The seller, philanthropist Adrienne Arsht, the former head of TotalBank. Arsht built one of the two homes on the 4-acre estate. The second home, the Mediterranean style Villa Serena, was built in 1913 for former Secretary of State William Jennings Bryan. (It was placed on the National Register of Historic Places in 2012.) Arsht purchased Villa Serena at the tail end of the 2000s for $12 million before completely restoring it. The property is one of many homes recently purchased by Griffin, who has reportedly spent more than $350 million assembling residential land in Palm Beach, where his hedge fund operation, Citadel, is opening an office.

$120 Million

Los Angeles, California

In August, after more than a year of negotiations, UK real estate billionaire Ian Livingstone, sold his four-acre Holmby Hills estate to Snapchat CEO and cofounder Evan Spiegel. The villa-style home has parking for 20-plus cars, a formal dining room that seats 18, and a two-story library, a movie theater, a beauty salon and a pool. In addition to the main property, Spiegel also acquired a smaller parcel of land next door the year before for $25 million, making for an estate totaling $145 million. Located directly across the street from the former Playboy Mansion, the parcels were purchased by Livingstone in 2014 and 2017 for a combined $72 million.

$126 Million

Beverly Hills, California

The Bel-Air mega-mansion known as The One finally got its big moment last year—but not as big as it could have been. The most heavily covered real estate deal of the year saw the home’s $295 million price tag plunge to $126 million at auction. Designed by architect Paul McClean, the hilltop home sold at auction to Fashion Nova founder Richard Saghian in March. At 105,000 square feet, the One is the largest residence in Los Angeles County. Amenities include a moat, a 4,000-square-foot guesthouse, a multiplex-size movie theater, multiple pools, a bowling alley and a spa. After almost a decade in development hell, the home remains unfinished and holds more than $250 million in claimed debts, according to reports, meaning many creditors faced significant—if not total—losses on the property. The One’s developer, Nile Niami, originally envisioned lavish amenties like a “jellyfish room” (with tanks of live sea creatures) and a bar made from a block of ice, neither of which were built. However there are multiple swimming pools, a 30-car garage, a movie theater, 21 bedrooms and 42 bathrooms.

$173 Million

Manalapan, Florida

Netscape cofounder Jim Clark parted with a dual-waterfront compound last June for $173 million, setting a record for Florida home sales. The more than 30-bedroom compound purchased by Larry Ellison encompasses roughly 16 acres along the Atlantic Ocean and Lake Worth shorelines. The sale completely shattered the previous Florida record, which was set by Tiger Global Management cofounder Scott Shleifer when he purchased a Palm Beach mansion for $122.7 million in 2021. Previously owned by the Ziff Family, the Manalapan property was bought by Clark in March 2021 for $94 million. In addition to a 12-bedroom main house, the compound also features two beachside cottages, a seven-bedroom guesthouse and a furnished tunnel underneath South Ocean Boulevard for uninterrupted access to the water.

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London’s luxury home sellers turn to WhatsApp as private sales surge

London’s luxury home sellers turn to WhatsApp as private sales surge

A increasing quantity of Londoners are opting for novel means of obtaining and providing their properties, with WhatsApp rising as a new home for luxury listings.

Bloomberg | Bloomberg | Getty Images

LONDON — In attempting times for the U.K. serious estate sector, a escalating range of Londoners are opting for novel suggests of purchasing and marketing their attributes, with WhatsApp emerging as a new residence for luxury listings.

Off-sector dwelling sales surged in the British money in the ultimate a few months of 2022, according to U.K. estate brokers Hamptons Intercontinental, accounting for much more than just one-in-five (22.3{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) transactions — its optimum share on file.

The uptick coincides with a interval of turmoil for the U.K. home industry, for the duration of which lenders pulled hundreds of household property finance loan specials and new homebuyer enquiries plunged adhering to then Key Minister Liz Truss’ chaotic “mini-price range.”

Hamptons senior analyst, David Fell, said that led some distributors to “exam the drinking water” discretely with no leaving a “electronic footprint” and perhaps hurting long run sale prospective customers.

Sellers have been ever more wanting to take a look at pricing quietly without having leaving a electronic footprint.

David Fell

senior analyst, Hamptons Intercontinental

“Sellers have been ever more wanting to exam pricing quietly without the need of leaving a electronic footprint, specifically if they chose to take their residence off the industry with a look at to trying once again in 6 or 12 months’ time,” he mentioned.

But the figure also marks a ongoing increase in non-public residence profits in latest decades.

Non-public house gross sales have virtually tripled in London because 2018, when they built up just 8.8{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} of once-a-year transactions vs . 21.2{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} in 2022, in accordance to the company. Personal product sales have also risen nationwide around the period, nevertheless to a lesser extent.

Private prime real estate product sales lead the demand

London’s luxurious real estate current market, in distinct, has led the off-industry development.

Personal product sales of £1 million-plus ($1.2 million) properties accounted for practically a single-3rd (32{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96}) of the capital’s whole key true estate transactions in the final quarter of 2022, and 29{61deb032f2f3cf43cd91e0a97f017aab274ddbb67b74a5b085bd003b9ac3cd96} over the 12 months, in accordance to Hamptons’ info produced past month.

Savills estate brokers mentioned that the “anonymity” of this sort of transactions is specially valued by consumers and sellers of attributes in the £20 million-in addition range — the two in London and the surrounding counties.

“In the past quarter of 2022 in the home counties we did see the overwhelming greater part of £20m+ gross sales getting conducted off-market place,” Crispin Holborow, nation director of The Non-public Office environment at Savills, advised CNBC via electronic mail.

James Myers, director of London-centered primary genuine estate company Oliver James, informed CNBC an increasing amount of significant-stop non-public transactions are also becoming done by using messaging equipment like WhatsApp.

With far more folks applying WhatsApp, it really is verified to be a significantly less difficult system for estate agents to call clientele, clients etc.

“WhatsApp has been an great gain to estate brokers in the latest many years,” Myers explained. “With a lot more persons employing WhatsApp, it can be verified to be a substantially a lot easier approach for estate brokers to get hold of clients, shoppers and so forth.”

In certain, Myers mentioned that more capabilities out there inside the WhatsApp Enterprise app have manufactured it a lot easier to share qualities with various would-be buyers whilst even now holding the listing discrete.

The app’s “Catalogs” attribute, for instance, which was launched in late-2019, functions as a brochure for businesses to showcase pictures of numerous items. Beforehand, organizations had to send out products pictures 1 at a time and repeatedly deliver facts.

“With the additional reward of the new applications … it [has] allowed estate agents to promote their houses through the brochure segment, which, as a result, has helped to showcase residence to a wider viewers and assist the sale of home,” mentioned Myers.

When contacted by CNBC, Meta, Whatsapp’s mum or dad organization, claimed “men and women want to do business the same way they chat with their pals and family members.”

Nonetheless, though the off-market craze is set to keep on into 2024, Hamptons’ Fell explained that many sellers may well also use personal listings as a way to judge consumer hunger ahead of going on to record on the open up current market.

“We are going to also probable see extra sellers start off lifetime off-industry right before selecting to current market their residence far more extensively if reaction from ‘black book’ customers was favorable but they still weren’t rather in a position to secure a sale,” he explained.

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Forbes Global Properties Welcomes Miami’s Legacy Development Sales & Marketing to its Luxury Property Network

Forbes Global Properties Welcomes Miami’s Legacy Development Sales & Marketing to its Luxury Property Network

Forbes Worldwide Houses, a curated purchaser market of luxury residences and an invitation-only membership network of prime authentic estate corporations, is proud to have chosen Legacy Enhancement Product sales & Marketing and advertising to its prestigious ranks. Led by marketplace veterans Mark Pordes and Adam Kaufman, the recently introduced firm will serve as the exclusive consultant of the Forbes Global Properties brand all through Florida’s prestigious Miami-Dade and Broward counties.

An enjoyable evolution of the remarkably regarded Miami-primarily based company Pordes Residential, Legacy draws from the team’s deep sector skills and more than US $3 billion of correctly bought luxurious condominiums, business serious estate, and new improvement homes. Legacy is uniquely positioned to give individual house owners, as very well as developers and lenders a arms-on and consequence-driven lover only centered on meeting their luxury sales and marketing, fairness money, and financing desires.

“Miami is a white-incredibly hot luxury sector and playground for the world’s elite,” claimed Adam Kaufman. “Through Pordes Household, and now Legacy Progress Profits & Promoting, we depict the best listings in the course of south Florida. Our membership with Forbes World Attributes will increase our access exponentially for the benefit of our valued clientele and builders,” Mark Pordes mentioned.

Forbes World wide Houses is the exclusive around the world household true estate husband or wife of Forbes and offers branding and advertising products and services to the world’s premier home firms. Legacy Development Sales & Marketing joins this expanding community that is now represented by far more than 12,800 finest-in-class brokers across 20 nations in about 400 destinations.

Legacy will advantage from Forbes’ engaged viewers of more than 140 million to join, encourage, and inform affluent opportunity homebuyers and sellers about the greatest attributes for sale. Luxury properties and new progress jobs represented by Legacy will be presented across Forbes and Forbes World Qualities print, electronic, and social media channels with qualified commentary, well timed market information, and prime-tier editorial. These luxurious listings will also be showcased on forbesglobalproperties.com, a curated collection of higher-price homes for sale around the world.

Legacy Enhancement Profits & Internet marketing is led by CEO and Founder Mark Pordes and President and President and Co-Founder Adam Kaufman. Entrepreneurial actual estate industry experts with track data spanning extra than 3 a long time, Mark and Adam excel in luxurious waterfront condominium developments, branded condo-lodge projects, and in blended-use and vacation resort locations, lending their great-tuned skills and insights to all venture phases, from inception and pre-construction setting up by the accomplished offer-out.

Demonstrating an unrivaled means to evaluate an asset, establish the suitable infrastructure, and acquire participating and actionable gross sales and advertising and marketing plans, the pair can depend a lot of significant-profile initiatives, accolades, and data amongst their many credits. A sampling of jobs include things like Peninsula on the Intercoastal and Marina Grande in Palm Beach county, Bjiou, Palm Villas, Kai and Bay Harbor 101 found in Bay Harbor Islands Miami, Ritz A single Bal Harbor, Fountainbleu Sorrento tower, Canyon Ranch Miami Beach, Marina Grande Daytona Seashore, Veer towers at City Centre Las Vegas, The Residences at Atlantis Nassau Bahamas and Schooner Bay Abaco Bahamas, and most lately the remaining developer residences at the extremely-lavish Regalia In Sunny Isles Beach front Miami. In addition to being recognised as luxurious rental bulk sale buyers and professionals, the workforce is also frequently named upon to spouse and/or seek advice from with family members workplaces and institutional hedge funds to make a JV construction to capitalize on options to obtain, re-model, marketplace, and offer trophy rental properties with large-yield returns.