The New Standard for Luxury Living
Across the 100 largest metros in the U.S., the share of $5 million homes is almost five times higher than in 2002, setting the bar for the high-end housing market.
Homes in the $5 million price range often boast great views, oceanfront locations, and amenities geared toward leisure activities and entertainment. In the Hamptons, a luxury market in Long Island, New York, pools and tennis courts are between 5.4 and 8.4 times more likely to be noted in the listing than in other markets, per Trulia.
Five-million-dollar-plus homes now epitomize the new threshold for entry into luxury real estate. The rate of growth of the share of these super luxury homes, have outpaced their million-dollar counterparts by growing nearly five times since 2012 versus 3.8 among million dollar homes. Over the past year, the share of $5 million plus homes increased 19.8 percent.