The new Fall 2025 Wall Street Journal/Realtor.com Housing Market Ranking of the nation’s luxury markets produced an unlikely city to top that list: Detroit.
No, Detroit is not taking on Palm Springs or Palm Beach as the new epicenter for the nation’s wealthiest residents. Instead, the new list pointed out that Michigan’s Detroit-Warren-Dearborn metro area has the lowest price point for entry into this sector. Within Detroit, the entry level into the top 10% in that market’s luxury housing sector is $721,625 – in comparison, the national level is $1.24 million.
It seems that buyers are eager for Detroit’s most expensive homes – the median days on the market for Detroit’s million-dollar homes is 57, compared to the nationwide median of 78 days.
Rounding out the top five markets on the new list are St. Louis; Charlottesville, Virginia; Santa Fe, New Mexico; and Salt Lake City.
The neighborhoods with these high end and large homes tend to be low crime, but very old homes.