Austin Ranked #10 Among U.S. Cities with the Highest Shares of Luxury Homes For Sale
Point2Homes, a division of Yardi Systems Inc, said in their recent report "Once used to describe famous estates recognizable by name alone or opulent residences redefining the apartment concept, luxury may now be reduced to a convenient location and cushy amenities," the report says. "Its meaning varies even further when analyzing different-sized markets across the United States, beyond the well-known house-hunting grounds of affluent homeseekers."
Austin ranked 10th among U.S. Cities with the Highest Shares of Luxury Homes, in the large cities category. With $550,000 median home price, 24.7% of listings above $1M, and 1.5% of listings above $5M. They compared the 30 largest markets among 100 metropolitan areas in the U.S. with atleast 500,000 people, and this study was based on active listings at the time of analysis, July 3, 2023.