The national entry point to luxury housing during August was $1.2 million, down by 4% from both July and August 2025, according to data from Realtor.com. August marked the 29th consecutive month of annual declines.
Price thresholds declined across every luxury tier: a 4.2% year-over-year drop for the top 5% of listings and a 4.6% tumble for the top 1%. However, luxury listings also moved faster than a year ago: listings at the 90th percentile spent a median of 74 days on the market, seven days fewer than the prior month and four days fewer than one year before.
“Luxury is not defined by one national price point,” said Anthony Smith, senior economist at Realtor.com. “The distance between the top 10% and the top 1% shows how each market is structured. Some have a broad, deep luxury tier, while others pair a more accessible high-end market with a small group of trophy properties.”
The Los Angeles metro claimed the highest entry point to luxury in August at $3.91 million, a 1.9% monthly decline. Kahului-Wailuku, Hawaii, followed at $3.90 million and Connecticut’s Bridgeport-Stamford-Danbury region at $3.88 million.
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