Realtor.com® July Luxury Housing Report: Luxury Threshold Falls for 29th Straight Month as Regional Markets Take Different Paths

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Realtor.com (NYSE:NWS) reports that the U.S. entry-level luxury threshold (90th percentile) fell to $1,250,750 in July 2026, down 2.7% year over year and marking the 29th straight month of annual declines. High-end (95th percentile) and ultra-luxury (99th percentile) thresholds declined 1.2% and 1.7%, respectively, while million-dollar listings made up 13.2% of active inventory.

Regional trends diverged: Austin posted the steepest luxury drop at -9.6%, with million-dollar inventory down 17.8%. Boston and San Francisco each saw -8.6% thresholds, but San Francisco’s million-dollar homes sold in a median 37 days. Nationally, luxury homes in the top 10%, 5% and 1% sold in 68, 76 and 91 days, each a few days faster than July 2025, indicating faster turnover despite moderating prices.

News Explained

The July report measures active Realtor.com listings and listing prices, not final sale prices, so its luxury thresholds describe the asking-price market rather than completed transaction values.

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Austin, Texas, posted the nation's steepest luxury price decline, while California accounted for four of the 10 markets with the largest annual drops

AUSTIN, Texas, Aug. 12, 2026 /PRNewswire/ -- The national entry point to luxury housing continued its gradual reset in July, falling to $1,250,750, down 2.7% from a year ago and marking the 29th consecutive month of annual declines, according to the Realtor.com^® July Luxury Housing Report released today. While luxury price thresholds continued to ease nationally, the data show that high-end markets are following increasingly different paths, with some markets experiencing broad price adjustments and others seeing inventory tighten as homes continue to sell quickly.

Price declines extended across every luxury tier. The national threshold for the top 5% of listings fell 1.2% year over year, while the ultra-luxury threshold (top 1%) declined 1.7%. Million-dollar listings also represented a slightly smaller share of the market, accounting for 13.2% of active inventory in July.

Despite lower luxury price thresholds, demand remained resilient. Luxury homes across every tier sold faster than they did a year ago, suggesting that softer pricing in many markets reflects changing inventory conditions as much as changing buyer demand.

"The national luxury market continues to normalize, but the forces driving prices vary significantly from one market to another," said Anthony Smith, senior economist at Realtor.com^®. "Some markets are undergoing broader price adjustments after several years of rapid appreciation, while others are seeing luxury inventory move quickly enough that available listings are shrinking."

National Luxury Overview — July 2026

Pricing	July 2026	Monthly Change	YoY Change
Luxury Threshold 90th Percentile	$1,250,750	-2.1 %	-2.7 %
High-End Luxury Threshold 95th Percentile	$1,973,160	-1.2 %	-1.2 %
Ultra Luxury Threshold 99th Percentile	$5,427,818	-1.6 %	-1.7 %
Million-Dollar Listing Share	13.2 %	-0.5pp	-0.6pp

Regional Luxury Markets Are Taking Different Paths
While the national luxury threshold fell 2.7% year over year, local markets continued to tell very different stories.

The Austin, Texas, metro led the nation in luxury price declines in July, with its luxury threshold falling 9.6% year over year to $1,262,726, more than three times the national pace. The metro's million-dollar listing inventory fell 17.8%, and both its 95th and 99th percentile luxury thresholds also posted annual declines.

Boston and San Francisco followed with identical 8.6% declines, though the two markets reached that result in very different ways. Boston's inventory of million-dollar listings grew 7.4% from a year ago, while San Francisco's declined 20.9%. Yet San Francisco's million-dollar homes sold in a median of just 37 days, the fastest pace among the luxury markets analyzed, suggesting inventory is being absorbed rather than accumulating.

San Jose, Calif., showed a similar pattern. Although its luxury threshold declined 6.9% year over year, nearly 62% of active listings exceed $1 million, the highest concentration in the country, and million-dollar homes sold in a median of just 38 days.

"A lower luxury threshold doesn't necessarily mean demand has weakened," Smith said. "In some markets, declining thresholds reflect prices adjusting after rapid growth. In others, like San Francisco and San Jose, Calif., homes are selling so quickly that inventory is turning over faster than it's being replenished. That's why it's important to look beyond prices to understand what's happening in today's luxury market."

California accounted for four of the 10 metropolitan areas with the steepest luxury price declines, highlighting the breadth of price adjustments across many of the state's high-end housing markets.

Metros with the Largest Annual Price Drops

Rank	Area	10% Most Expensive Listings Start at:	Top 10% Listings YoY	Million-Dollar Listing Count YoY	Median Days on Market - Million Dollar Listings
0	USA	$1,250,750	-2.7 %	-2.0 %	66
1	Austin-Round Rock- San Marcos, TX	$1,262,726	-9.6 %	-17.8 %	78
2	Boston-Cambridge- Newton, MA-NH	$2,485,340	-8.6 %	7.4 %	53
3	San Francisco- Oakland-Fremont, CA	$2,490,089	-8.6 %	-20.9 %	37
4	San Diego-Chula Vista-Carlsbad, CA	$2,766,487	-7.3 %	-16.6 %	46
5	Washington-Arlington- Alexandria, DC-VA- MD-WV	$1,406,428	-7.0 %	1.7 %	45
6	San Jose-Sunnyvale- Santa Clara, CA	$3,273,750	-6.9 %	-1.6 %	38
7	Oxnard-Thousand Oaks-Ventura, CA	$2,949,150	-6.0 %	-11.2 %	53
8	Denver-Aurora- Centennial, CO	$1,269,259	-5.9 %	-15.7 %	57
9	Charleston-North Charleston, SC	$2,165,450	-5.5 %	1.6 %	68
10	Bridgeport-Stamford- Danbury, CT	$4,130,000	-5.5 %	-4.0 %	51

Luxury Homes Continue Selling Faster Than a Year Ago
Although luxury homes took longer to sell in July than in June, a typical seasonal pattern, every luxury tier continued to outperform last year.

Homes in the top 10% of the market sold in a median of 68 days, three days faster than July 2025. High-end luxury homes sold in 76 days, also three days faster year over year, while ultra-luxury homes sold in 91 days, improving by five days from a year earlier.

The results suggest that the luxury market continues to normalize from pandemic-era pricing without experiencing a broad slowdown in buyer activity.

Top 10 Most Expensive Metropolitan Luxury Markets

Rank	Area	10% Most Expensive Listings Start at:	10% Most Expensive MoM	10% Most Expensive YoY	Average Annual Million-Dollar Listings Count	Multiple to National Luxury Threshold
1	Bridgeport-Stamford- Danbury, CT	$4,130,000	-1.7 %	-5.5 %	524	3.3
2	Los Angeles-Long Beach-Anaheim, CA	$3,997,157	-2.5 %	-3.8 %	9,208	3.2
3	Kahului-Wailuku, HI	$3,950,000	0.2 %	-0.8 %	711	3.2
4	Naples-Marco Island, FL	$3,687,718	-1.2 %	5.5 %	2,150	2.9
5	San Jose-Sunnyvale- Santa Clara, CA	$3,273,750	0.8 %	-6.9 %	1,066	2.6
6	Oxnard-Thousand Oaks-Ventura, CA	$2,949,150	-1.6 %	-6.0 %	637	2.4
7	New York-Newark- Jersey City, NY-NJ	$2,851,904	-3.8 %	-3.0 %	11,488	2.3
8	Crestview-Fort Walton Beach-Destin, FL	$2,806,764	-2.3 %	-2.6 %	1,350	2.2
9	San Diego-Chula Vista-Carlsbad, CA	$2,766,487	-1.8 %	-7.3 %	2,249	2.2
10	Atlantic City- Hammonton, NJ	$2,616,950	1.7 %	4.8 %	540	2.1

Methodology
All data in this report is sourced from Realtor.com^® listing trends as of July 2026, reflecting active inventory of existing homes, including single-family residences, condos, townhomes, row homes, and co-ops. Listings reflect only those provided by MLS platforms to Realtor.com^® via a listing feed. New-construction listings are excluded unless actively listed on participating MLSs.

Luxury segmentation is based on market-specific price percentiles, with the 90th percentile representing entry-level luxury, the 95th percentile marking high-end luxury, and the 99th percentile indicating ultraluxury. All calculations are based on listing prices, not final sales prices.

Metropolitan and micropolitan areas are defined using the Office of Management and Budget's OMB-2023 delineations, with Claritas 2025 household estimates used for relative comparisons. Where appropriate, we limited analysis to metros or micros with a minimum threshold of active million-dollar listings on average over the past year to ensure meaningful comparisons.

Historical listing trend data extends to July 2016, but year-over-year comparisons in this report use July 2025 as the baseline.

Luxury by the Numbers
90th percentile = Entry-level luxury (top 10% of prices)
95th percentile = High-end luxury
99th percentile = Ultraluxury (often rare or custom properties)

About Realtor.com^®
For over 30 years, Realtor.com^® has connected buyers, sellers, and renters with trusted insights, professional guidance, and powerful tools to help them find their perfect home. Recognized as the No. 1 real estate site REALTOR^® agents recommend, Realtor.com^® delivers consumer connections and a robust suite of marketing tools to support business growth. Realtor.com^® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.

Media contact: Janice McDill, press@realtor.com

 

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SOURCE Realtor.com

FAQ

What is the U.S. luxury housing threshold in July 2026 according to Realtor.com and how has it changed?

The U.S. luxury entry threshold was $1,250,750 in July 2026, down 2.7% year over year. According to Realtor.com, this 90th-percentile price marked the 29th consecutive month of annual declines, reflecting a gradual reset in national luxury listing prices.

How are high-end and ultra-luxury home prices trending in the July 2026 Realtor.com report for NWS?

High-end luxury (95th percentile) fell 1.2% and ultra-luxury (99th percentile) declined 1.7% year over year. According to Realtor.com, these figures show price easing across all luxury tiers, based on listing prices rather than final sales prices in July 2026.

Which metro had the biggest luxury price decline in the July 2026 Realtor.com report linked to NWS?

Austin, Texas recorded the steepest luxury threshold decline at -9.6% year over year, to $1,262,726. According to Realtor.com, Austin’s million-dollar listing inventory also fell 17.8%, and its higher luxury percentiles (95th and 99th) posted additional annual price declines.

How fast are luxury homes selling nationally in July 2026, based on the Realtor.com report?

Luxury homes in the top 10% sold in a median 68 days, three days faster than July 2025. According to Realtor.com, high-end luxury took 76 days and ultra-luxury 91 days, both several days faster year over year, indicating quicker market turnover.

What does the July 2026 Realtor.com luxury housing data say about San Francisco and San Jose markets?

San Francisco’s luxury threshold fell 8.6% while million-dollar listings dropped 20.9%, yet sold in a median 37 days. According to Realtor.com, San Jose’s threshold declined 6.9%, with nearly 62% of listings above $1 million and a 38-day median for million-dollar sales.

Which are the most expensive luxury housing markets in July 2026 in the Realtor.com report?

Bridgeport–Stamford–Danbury, Connecticut led with a 10% luxury threshold of $4,130,000, about 3.3 times the national level. According to Realtor.com, Los Angeles and Kahului–Wailuku followed, each with starting luxury prices near $4 million for the top 10% of listings.