Industry News

These Luxury Markets of North America Have the Highest Median Home Sales Prices

In 2024, luxury real estate was resilient across North American markets even while facing factors like economic uncertainty, higher interest rates and evolving homebuyer demands. In fact, the luxury market held steady with increased inventory, a greater rate of sales and relatively stable prices. This is according to a new report from the Institute for Luxury Home Marketing, which partnered with The RE/MAX Collection – the RE/MAX brand’s exclusive luxury real estate division – to analyze market data and provide a clear view into the state of high-end housing. A few key findings among the surveyed top residential markets in the U.S. and Canada: 3,222: the average size (in square feet) of luxury single-family homes in 2024. $1,293,551: the median sales price (in USD) for luxury single-family homes in 2024. 15: the percentage increase in new luxury listings from 2023 to 2024 across North America. Check out the surveyed markets with the highest median sales prices for single-family and attached homes, based on the report’s 2024 data: Single-family homes1. Telluride, Colorado Median price: $5,390,222 USD 2. Whistler, British Columbia Median price: $4,743,125 USD 3. Los Angeles Beach Cities, California Median price across the area’s coastal cities: $3,960,080 USD 4. Naples, Florida Median price: $3,889,722 USD   Naples, FloridaOceanfront properties in Naples, FloridaAttached homes (townhouses, duplexes, condos, etc.)1. Whistler, British Columbia Median price: $2,470,167 USD 2. San Francisco, California Median price: $2,378,167 USD 3. Naples, Florida Median price: $2,326,353 USD 4.  Telluride, Colorado Median price: $2,239,091 USD Luxury market trends in 2025As 2025 progresses, the report cites homebuyer confidence and a continued hope for easing interest rates as factors encouraging luxury market activity this year, although cash deals remain a staple in the sector. What discerning clientele are seeking in a high-end home continues to evolve. Lifestyle-driven properties persist in the luxury realm’s prominence. Report findings show that properties offering unique amenities and access to life-enhancing experiences are highly sought after in today’s market – along with sustainability features, which include energy-efficient designs, net-zero emission homes and green building practices to combat local environmental concerns. Smart home technology – including features powered by AI – is expected to become even more anticipated in luxury listings, too. When buying or selling a luxury home, it’s essential to work with a trusted professional who can guide the transaction with experience and expertise. Head over to The RE/MAX Collection and connect with a RE/MAX agent today. Written by LEAH CURTIS  Recommended For YouMarket Trends | U.S. Home Sales on the Rise Ahead of Spring Get RE/MAX News delivered to your inbox! Sign up for News Alerts in the footer below. .popular_posts_sec .post_with_image_and_title { max-width: 75rem; } .popular_posts_sec .post_with_image_and_title .section_heading { font-family: Montserrat;font-weight: 900;font-size: 1.125rem;line-height: 1.33;letter-spacing: 0.046875rem;color: var(–awb-color3);margin-top: 0rem;margin-bottom: 1rem; } .popular_posts_sec .post_with_image_and_title .section_title { padding-left: 12.5rem;padding-right: 12.5rem; } .popular_posts_sec .post_with_image_and_title .post_list .post_item .category_title { font-family: Open Sans;font-weight: 600;font-size: 0.5rem;line-height: 0.75rem;letter-spacing: 0.15625rem;text-transform: uppercase;color: var(–awb-color6);margin-top: 0.625rem;margin-bottom: 0rem; } .popular_posts_sec .post_with_image_and_title .post_list .post_item .post_title { font-family: Montserrat;font-weight: 900;font-size: 0.8125rem;line-height: 1.38;letter-spacing: 0.04375rem;color: var(–awb-color3);margin-top: 0.125rem;margin-bottom: 0.813rem; } .popular_posts_sec .post_with_image_and_title .post_list { padding-left: 12.5rem;padding-right: 12.5rem; } .popular_posts_sec .post_with_image_and_title .post_list .hover_link { text-decoration: none !important; } /* tablet styling */ @media (max-width: 960px) { .popular_posts_sec .post_with_image_and_title .section_title { padding-left: 6.25rem; padding-right: 6.25rem; } .popular_posts_sec .post_with_image_and_title .post_list { padding-left: 6.25rem; padding-right: 6.25rem; } } /* mobile styling */ @media (max-width: 600px) { .popular_posts_sec .post_with_image_and_title .section_title { padding-left: 1.063rem; padding-right: 1.063rem; } .popular_posts_sec .post_with_image_and_title .post_list { max-width: 100vw; padding-left: 1.063rem;

U.S. Home Sales on the Rise Ahead of Spring

As winter rolled along in early 2025, many homebuyers and sellers were busy making big moves. From January to February, home sales across the U.S. were up 8.4%, according to the latest RE/MAX National Housing Report. While the January-to-February sales jump was higher in 2024 (at 17%), this year’s monthly growth still laid the groundwork for momentum heading into March – the time of year that typically sees the highest monthly uptick in sales. “As is typical heading into the spring market, home sales rose in February, and the market appears to be on the right trajectory to grow as we enter the spring selling season,” says Erik Carlson, CEO of RE/MAX Holdings. “It’s crucial to have abundant inventory for buyers, and we are seeing inventory trend in the right direction.” To Carlson’s point, the RE/MAX report – which aggregated data from 52 metro areas – showed a 2.9% increase in housing inventory from the month prior. Available housing inventory is a combination of new listings and existing listings that haven’t sold yet. As the growing inventory trend continues, the total number of homes for sale in February was a whopping 33.9% higher than one year ago. One factor: Home sales were down 2.6% year-over-year, contributing to the buildup of housing stock. This should be welcome news to prospective homebuyers, who have more options to choose from. [embed]https://youtube.com/watch?v=vup0Yk0qw-U&si=aQ7Yt9cDbYk_XJ3E[/embed] How are U.S. home prices looking?Across the board, home prices generally continue to rise. The median sale price in February was $423,000 – up $3,000 from one month prior and up $13,000 from one year prior. The nationwide close-to-list price ratio saw annual gains, too. This ratio analyzes if the closing price for a home was more or less than the original list price. In February, the average close-to-list price ratio of the cities surveyed in the RE/MAX report was 99%, up from 98% in January. As housing activity accelerates ahead of spring, many homebuyers and sellers are ready to enter the market. And the best way to do so is with the guidance of an experienced real estate professional. “It’s important to remember that real estate is local, with varying trends across different regions. Buyers and sellers should work with trusted advisors who understand their specific markets to navigate these fluctuations effectively,” Carlson says. Ready to make a move this spring? Connect with a local RE/MAX agent today. RE/MAX agents have helped millions of families buy or sell a home – and they have the experience needed to get the job done in today’s market. Written by LEAH CURTIS  Recommended For YouNews & Announcements | RE/MAX Debuts Refreshed Digital-First Branding Get RE/MAX News delivered to your inbox! Sign up for News Alerts in the footer below. .popular_posts_sec .post_with_image_and_title { max-width: 75rem; } .popular_posts_sec .post_with_image_and_title .section_heading { font-family: Montserrat;font-weight: 900;font-size: 1.125rem;line-height: 1.33;letter-spacing: 0.046875rem;color: var(–awb-color3);margin-top: 0rem;margin-bottom: 1rem; } .popular_posts_sec .post_with_image_and_title .section_title { padding-left: 12.5rem;padding-right: 12.5rem; } .popular_posts_sec .post_with_image_and_title .post_list .post_item .category_title { font-family: Open Sans;font-weight: 600;font-size: 0.5rem;line-height: 0.75rem;letter-spacing: 0.15625rem;text-transform: uppercase;color: var(–awb-color6);margin-top: 0.625rem;margin-bottom: 0rem; } .popular_posts_sec .post_with_image_and_title .post_list .post_item .post_title { font-family: Montserrat;font-weight: 900;font-size: 0.8125rem;line-height: 1.38;letter-spacing: 0.04375rem;color: var(–awb-color3);margin-top: 0.125rem;margin-bottom: 0.813rem; } .popular_posts_sec .post_with_image_and_title .post_list { padding-left: 12.5rem;padding-right: 12.5rem; } .popular_posts_sec .post_with_image_and_title .post_list .hover_link { text-decoration: none !important; } /* tablet styling */ @media (max-width: 960px) { .popular_posts_sec .post_with_image_and_title .section_title { padding-left: 6.25rem; padding-right: 6.25rem; } .popular_posts_sec .post_with_image_and_title .post_list { padding-left: 6.25rem; padding-right: 6.25rem; } } /* mobile styling */ @media (max-width: 600px) { .popular_posts_sec .post_with_image_and_title .section_title { padding-left: 1.063rem; padding-right: 1.063rem; } .popular_posts_sec .post_with_image_and_title .post_list { max-width: 100vw; padding-left: 1.063rem; padding-right: 1.063rem; } }