The median luxury home sale price for the three months ending April 30 was $1.39 million, a 3.6% year-over-year increase.
According to data from Redfin, the annual rise in the median luxury home sale price more than double the 1.4% gain in non-luxury sale prices. Pending sales of luxury homes jumped 4.3% from one year before, the largest gain since January 2025, while non-luxury pending sales were at 4%, the biggest surge since December 2024.
Among the major metro areas, San Francisco recorded the greatest year-over-year increase in the median luxury home sale prices with a 48.4% spike, the largest upswing since June 2021. Redfin credited the increase to the region’s booming AI sector, where many workers are pocketing considerable paychecks and bonuses.
New listings of luxury homes rose 2% year-over-year during the three months ending April 30, compared with a 0.6% gain in non-luxury new listings. New listings: Luxury new listings rose most in Warren, Michigan (26.6%), San Francisco (17.7%) and St. Louis (15.2%), but fell the most in Miami (-16.7%), New York City (-13.7%) and Orlando (-13.7%).
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