U.S. Luxury Home Market Shows Mixed Pricing and Divergent Selling Speeds
Rhea-AI Summary
NWS luxury housing report for November 2025 shows a mixed national picture: the 90th‑percentile luxury threshold fell to $1,199,977 (‑2.3% YoY) while the ultraluxury 99th percentile was $5,490,492. Median days on market for luxury listings held at 78 days nationally, but metros diverged sharply.
Notable moves: Kahului–Wailuku saw luxury thresholds down 21% YoY, Naples–Marco Island homes sold 23.5% faster YoY, and Bend, OR recorded the slowest pace at 146 days (+14.1% YoY). Data reflect Realtor.com listing inventories as of November 2025 and use percentile segmentation (90/95/99).
Positive
- Naples luxury sales 23.5% faster YoY
- Ultraluxury 99th percentile rose 0.5% month‑to‑month
Negative
- Kahului–Wailuku luxury threshold ‑21.0% YoY
- Bend, OR median luxury days on market +14.1% YoY
- Oxnard median luxury days on market +25.9% YoY
News Market Reaction – NWSA
In the Dec 22 session, NWSA gained 0.73%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
National luxury prices ease while select markets see rapid turnover
Among the nation's most expensive markets, eight of the top 10 posted annual price declines, led by Kahului–Wailuku, HI, where luxury thresholds fell
"Luxury home dynamics are increasingly driven by local factors rather than national trends," said Antony Smith, senior economist at Realtor.com®. "Some high-cost metros are experiencing brisk demand and fast turnover, while others face slower sales even at elevated price points. Understanding these local dynamics is key for both buyers and sellers in today's luxury market."
National Overview
November 2025 | Monthly Change | YoY Change | |
Luxury Threshold 90th Percentile | -2.0 % | -2.3 % | |
High-End Luxury Threshold 95th Percentile | -1.2 % | -2.7 % | |
Ultra Luxury Threshold 99th Percentile | 0.5 % | -2.4 % | |
National Median Listing Price | -2.2 % | -0.4 % | |
Million-Dollar Listing Share | 12.8 % | -0.4pp | 0.0pp |
Fastest and Slowest Luxury Markets
Nationally, luxury homes spent a median of 78 days on the market in November, unchanged from the prior year. Yet the variation across metros was striking. San Jose–Sunnyvale–Santa Clara, CA, led the nation with top-tier homes selling in a median of 56 days, while
Naples–Marco Island, FL, emerged as a standout, with luxury homes selling
Other fast-moving markets include Riverside–San Bernardino–Ontario, CA, and the
Luxury Pricing Trends
Overall, November's results illustrate a luxury market defined less by national trends than by localized pricing, inventory alignment, and buyer urgency. Markets where pricing and demand are well-matched are seeing homes move rapidly, while other high-priced metros face slower sales, reflecting a nuanced landscape for high-end buyers and sellers alike.
Fastest Moving Luxury Markets
Rank | Area |
| Median Days on | Median Days on Market |
0 | 78 | 0.0 % | ||
1 | 56 | -6.7 % | ||
2 | 57 | 0.0 % | ||
3 | 58 | 5.5 % | ||
4 | 58 | -7.9 % | ||
5 | Boise City, ID | 60 | -25.5 % | |
6 | 61 | 3.4 % | ||
7 | 64 | 1.6 % | ||
8 | 64 | -9.9 % | ||
9 | 65 | 0.0 % | ||
10 | 65 | -23.5 % |
Slowest Moving Luxury Markets
Rank | Area |
| Median Days on | Median Days on Market |
0 | 78 | 0.0 % | ||
1 | 146 | 14.1 % | ||
2 | 136 | -0.7 % | ||
3 | 119 | -17.4 % | ||
4 | 116 | -17.14 % | ||
5 | 116 | -3.8 % | ||
6 | 114 | 9.1 % | ||
7 | 100 | 25.9 % | ||
8 | 99 | 7.0 % | ||
9 | 99 | -4.8 % | ||
10 | 93 | 8.1 % |
Top 10 Markets by 90th Percentile Listing Price
Rank | Area | Metro/Micro |
|
| Average Annual | Multiple Median |
1 | Micro | 9.9 % | 858 | 4.6 | ||
2 | Micro | 0.0 % | 835 | 3.8 | ||
3 | Metro | -4.9 % | 9,199 | 3.7 | ||
4 | Metro | -11.0 % | 544 | 5.2 | ||
5 | Metro | -5.1 % | 1,020 | 2.9 | ||
6 | Metro | -21.0 % | 697 | 3.5 | ||
7 | Metro | -12.3 % | 502 | 3.6 | ||
8 | Metro | -3.1 % | 2,465 | 4.8 | ||
9 | Metro | -8.6 % | 658 | 3.0 | ||
10 | Metro | -9.1 % | 11,624 | 4.0 |
Methodology
All data in this report is sourced from Realtor.com® listing trends as of November 2025, reflecting active inventory of existing homes, including single-family residences, condos, townhomes, row homes, and co-ops. Listings reflect only those posted on MLS platforms that provide listing feeds to Realtor.com. 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 November 2024 as the baseline.
About Realtor.com®
Realtor.com® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com® is a valued partner, delivering 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: Mallory Micetich, press@realtor.com
View original content:https://www.prnewswire.com/news-releases/us-luxury-home-market-shows-mixed-pricing-and-divergent-selling-speeds-302647514.html
SOURCE Realtor.com