Luxury Housing Prices Continue to Decline for the 30th Consecutive Month
The national entry point into luxury housing dropped in September, marking a 3.6% annual decline and continuing its streak of 30 consecutive months of price decreases according to Realtor.com®'s Luxury Housing Report. All tiers within the luxury market are now cheaper than they were one year ago, with ultra-luxury homes seeing the steepest drop at -5.3%. Despite falling prices, luxury homes sold faster in September compared to last year across all categories. The report also examined public elementary school ratings and found no direct correlation between high property values and top educational scores. Naples, Florida leads both in strong price growth (up 8.9%) and favorable school ratings (9.3/10), while Kahului-Wailuku, Hawaii ranks lowest with a rating of 5.0/10 despite being the second most expensive market. Los Angeles remains at the top as the highest entry point to luxury housing in September, widening its lead over other markets like San Jose and Bridgeport-Stamford-Danbury.
Topics: luxury housing price trends real estate school ratings