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Luxury sales rose 41.6% nationwide in first quarter of 2021

Luxury sales rose 41.6% nationwide in first quarter of 2021

Luxury homes in that quarter had a median sale price of $975,000, a 14.7 percent increase from the same period in 2020. The brokerage categorizes properties as either luxury, expensive, mid-priced, affordable or most affordable. By contrast, sales of mid-priced homes rose by only 5.9 percent while sales of affordable homes rose 7 percent.
Luxury home sales practically exploded in certain cities — 101.1 percent in Miami, 92.3 percent in San Jose and 82 percent in Oakland. The cities have proven popular for affluent buyers able to work from anywhere and looking to relocate during the pandemic.

Source: Inman

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