"Unprecedented Strength in the Ultra-Luxury Real Estate Market: A Mid-Year Review"
The first half of 2024 has proven to be a remarkable period for the ultra-luxury real estate market in the United States. With a total of 838 homes publicly sold at $10 million and above, the sales volume reached an impressive $14.66 billion, surpassing the figures from the same period in 2023. This surge in activity can be attributed to high-net-worth buyers who see real estate as a secure investment, often opting for all-cash transactions to avoid the impact of high mortgage rates.
Key markets such as Greater Los Angeles, Manhattan, Palm Beach County, and Miami-Dade have continued to lead the way, while emerging markets like Greater Nashville and Central New Jersey have also seen significant gains. The heightened competition for prime properties emphasizes the importance of partnering with a trusted Compass agent, who can leverage Compass Private Exclusives to discreetly assess market interest and gain access to exclusive listings.
As Compass remains at the forefront of the industry, it is essential for both buyers and sellers to stay informed about the latest trends driving the future of luxury real estate. We invite you to explore our 2024 Mid-Year Ultra-Luxury Report for in-depth insights into the market dynamics and trends shaping the ultra-luxury real estate landscape.
