T
he luxury real estate market showed resilience in 2024, with some areas of the US performing better than others. According to recent reports, 2025 is shaping up to be a strong year for high-end home sales, particularly in Manhattan, which saw its busiest week for luxury deals since 2022.

    Luxury home sales are on the rise, with approximately 300,000 homes selling for over $1 million in the past year, a significant increase from the previous year. Cities like Colorado Springs and Durham-Chapel Hill saw notable gains, with 14.2% and 12.6% of homes sold exceeding $1 million, respectively.

    The top ultra-luxury markets in the US for 2024 were dominated by New York, California, Florida, and Colorado, according to Compass. The real estate brokerage reported a 350% jump in sales of homes over $10 million, with a combined value of $31.39 billion. Notably, nearly $23.2 billion of this total came from just 10 locations within these four states.

    Manhattan recently experienced its busiest week for luxury home sales in three years, with 41 contracts signed for properties priced at $4 million or more. The deals totaled $366.4 million and included a Fifth Avenue townhome that went under contract for $49.9 million after being listed for $80 million in 2021.