In the ever-evolving world of ultra-luxury real estate, 2024 revealed a few surprises—and some significant power shifts. While familiar titans held their ground, emerging players made bold moves, proving that prestige real estate is anything but predictable.

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New York City continues to set the global standard with average sale prices hitting $76M and multiple properties surpassing the $100M threshold. Even amidst a general slowdown across the East Coast, the Big Apple remains the undisputed heavyweight of high-end real estate.

Out west, Santa Barbara dazzled with a 72% increase in average prices, reaching $36M in 2024. However, its slower pace—an average of 330 days on market—indicates that buyers still hold some leverage.

Phoenix, on the other hand, is all about momentum. With an average price of $17M and homes selling at 101% of list price, the desert city offers a masterclass in pricing strategy and efficiency.

Closer to home, Houston is stepping confidently into the national spotlight. With average sales reaching $12.2M, the city is giving longtime competitors like Dallas and Atlanta a run for their money. Sellers have become increasingly savvy, and faster-moving properties are commanding stronger returns.

And finally, Sarasota has quietly transformed into one of Florida’s most compelling luxury markets. With a 160% price increase since 2018 and a current average of $16M, it’s catching up to the state’s $20M benchmark—even as its time on market begins to tick upward.

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While each of these markets dances to its own rhythm, they share one thing in common: the demand for exclusivity, style, and prestige is only climbing. From coast to coast, luxury real estate is growing in new and exciting ways. Whether you’re considering a purchase, a sale, or a smart investment in this ever-evolving luxury space, I’d love to connect and help you get started.

Discover what’s catching my eye in top-tier markets coast to coast— Click HERE to view my full curated collection of standout luxury listings!

Until next time,
Dee Dee Guggenheim Howes

_{Source: Concierge Auctions Luxury Homes Index}