Ultra-Luxury Real Estate Market Surges in 2024

August 28, 2024

In insights from luxuryatcompass.com, the ultra-luxury real estate market in the United States exhibited significant strength in the first half of 2024, with discerning buyers seeking prime properties as safe investments. Sales of homes priced at $10 million or more reached 838 transactions, totaling an impressive $14.66 billion in sales volume—an increase from the first half of 2023.

In Florida, Palm Beach County and Miami-Dade emerged as prominent destinations for ultra-luxury homes. Both regions demonstrated substantial growth in ultra-luxury sales, reinforcing their positions as key markets.

Heightened competition for ultra-luxury properties has been reported, often exceeding the available supply. As a result, many buyers are seeking exclusive Compass listings to maintain confidentiality and secure prime properties. This trend underscores the importance of partnering with a trusted Compass agent who can provide access to Compass Private Exclusives. This service allows sellers to gauge market interest discreetly and offers buyers access to exclusive listings, enabling them to make competitive offers.

The robust performance of the ultra-luxury market in the first half of 2024 suggests that full-year sales may surpass previous totals, even amidst broader economic uncertainties. Compass remains at the forefront of the industry, offering high-net-worth clients unparalleled insights and opportunities in the luxury real estate market.

EXPLORE THE 2024 MID-YEAR ULTRA-LUXURY REPORT

Source: luxuryatcompass.com

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