Luxury Homes Are Plentiful, And Prices Are Rising

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February 15, 2017

More than half the houses on the market at the end of 2016 were luxury homes. Even though it’s a buyers’ market, the median value for premium homes in the nation’s 100 biggest metros increased 5.6 percent last year.

Trulia offers 10 facts about luxury real estate. Over the last five years, for instance, the share of homes valued at $1 million or more doubled from 2 percent to 4 percent in the nation’s 100 largest metros.

West Palm Beach, Fla., has the largest share of luxury homes, Colorado Springs, Colo., has the biggest premium homes for sale, and the most expensive home on the market is a 12-bedroom, 6,898 mansion in Bel Air, Calif., that is trying to fetch $250 million.

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