US Luxury Housing Prices Decline for 31st Consecutive Month Amid Regional Divergence
The national luxury housing market continues its downward trend, with the entry-level luxury price falling 2.3% year-over-year to $1,197,014 in October 2026. This marks the 31st consecutive month of annual declines across all luxury tiers, including a 6.2% drop for ultra-luxury properties (top 1%). Despite the national cooling, inventory shortages are helping certain regions maintain price momentum. Florida has emerged as a significant outlier, accounting for five of the twelve metropolitan areas that saw annual price increases of at least 1%. Naples, Florida, led these gains with a 9.0% increase. While major markets like San Jose and New York experienced double-digit declines, luxury homes are generally selling faster than they were a year ago due to shrinking million-dollar inventory.
Topics: Florida housing market housing inventory luxury real estate prices market trends