W
ealthy women are increasingly dominating the US luxury real estate market, earning them the title of "she-elites." According to Wealth X data, women with a net worth of $5 million or more now own 15.2% of high-priced residential properties.

    Despite a sluggish overall domestic real estate market in 2024, the high-end segment remained robust, driven largely by women's purchasing power. The number of homes sold for over $1 million surged 7.1% year-over-year, with luxury home prices reaching an all-time high of $1.55 million.

    Women are not only buying but also selling big-budget properties, with many emerging as powerful decision-makers in the luxury real estate market. As Jade Mills, president of Jade Mills Estates, notes, "Women are making critical choices about where and how they live."

    The trend report predicts that deep-pocketed women will continue to play a significant role in the thriving luxury real estate market in the coming years. In fact, McKinsey & Company projects that by 2030, American women will control the majority of the $30 trillion in assets held by aging baby boomers.

    While men still lead in luxury homeownership among older age groups, single women under 35 own more homes than their male counterparts. Women are also increasingly calling the shots not only at work but also in their households, with 94.5% of respondents saying that women either share decision-making power or are the deciding authority on home purchases.

    Single women without children (SINKs) are also becoming a significant force in the luxury real estate market, with their share of homebuyers increasing to 20% in 2024. These women have more expendable income to invest in real estate, and they're increasingly buying luxury properties as investments, including vacation homes and income-generating rentals.

    The trend is further supported by Fidelity's research, which found that 71% of women own investments in the stock market, up 18% year-over-year. As Sangeeta Moorjani, head of Tax Exempt Market and Lifetime Engagement for Fidelity Investments, notes, "It's encouraging to see the number of women taking control of their finances swell over the past three years."