Luxury Home Prices Rise Amid Uptick in High-End Homebuying and Selling

Redfin reports the median luxury sale price is up 4% year over year—more than double the gain in non luxury prices

SEATTLE--(BUSINESS WIRE)--The median U.S. luxury home sale price rose 3.6% year over year to $1.39 million during the three months ending April 30—more than double the 1.4% gain in non luxury sale prices. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.

Luxury prices are on the rise as demand for luxury homes increases. Pending sales of luxury homes jumped 4.3% year over year—the largest gain since January 2025. That’s slightly larger than the 4% gain in non luxury pending sales, which was the biggest since December 2024. Homebuyer demand has generally been climbing thanks to an improving job market and a decline in mortgage rates last month, though rates have been more volatile in May.

Stacey Bryant, a Redfin Premier real estate agent in Boston, noted that luxury buyers are typically less sensitive to mortgage-rate swings than non luxury buyers, which may be one reason the luxury market is holding up relatively well.

“When I have a buyer looking at a home above $1 million, interest rates and geopolitical uncertainty don’t matter as much,” Bryant said. “They want to buy a home and have the means to do it, so a 6.3% mortgage rate versus a 6.1% mortgage rate doesn’t really make a difference.”

No metro Redfin analyzed saw a larger gain in luxury pending sales than San Francisco, which posted a 48.4% year-over-year increase in April—the largest since June 2021. San Francisco’s housing market has been on the upswing thanks to the AI boom, which has landed many workers with hefty paychecks and bonuses.

The uptick in luxury home prices and demand in many parts of the country is likely incentivizing more high-end homeowners to put their houses up for sale. New listings of U.S. luxury homes climbed 2% year over year during the three months ending April 30, compared with a 0.6% gain in non luxury new listings. San Francisco saw the second largest gain in new listings.

This report is based on a Redfin analysis of MLS data that is subject to revision. All figures cover rolling three-month periods. Redfin defines luxury homes as those estimated to be in the top 5% of their metro area’s price range, while non-luxury homes fall into the 35th–65th percentile.

Luxury Market Summary: Three Months Ending April 30, 2026

	Luxury	Non Luxury
Median sale price	$1,388,230	$377,734
Median sale price, YoY change	3.6%	1.4%
Pending home sales, YoY change	4.3%	4.0%
Homes sold, YoY change	0.8%	1.6%
New listings, YoY change	2.0%	0.6%
Active listings, YoY change	1.4%	2.3%
Median days on market	60	51
Median days on market, YoY change	6	5

Metro-Level Luxury Highlights: Three Months Ending April 30, 2026.

• Prices: Luxury prices rose most in Tampa, FL (17.1%), Las Vegas (16.1%) and Kansas City, MO (15.2%). They fell in just four metros: Detroit (-2.4%), Cincinnati (-1.6%), New York (-0.6%) and Denver (-0.6%).
• Pending sales: Luxury pending sales rose most in San Francisco (48.4%), Tampa (35.8%) and West Palm Beach, FL (15.8%). They fell most in Nassau County, NY (-27%), Minneapolis (-15.9%) and Seattle (-14.4%).
• Closed home sales: Luxury home sales rose most in San Francisco (43.2%), Tampa (42%) and Kansas City, MO (24.8%). They fell most in Cincinnati (-22.8%), Seattle (-20.8%) and Anaheim, CA (-19.9%).
• New listings: Luxury new listings rose most in Warren, MI (26.6%), San Francisco (17.7%) and St. Louis (15.2%). They fell most in Miami (-16.7%), New York (-13.7%) and Orlando, FL (-13.7%).
• Active listings: Luxury active listings rose most in Detroit (22.8%), Seattle (16.1%) and Atlanta (15.4%). They fell most in Anaheim (-24.2%), New York (-18.3%) and Miami (-15.5%).
• Median days on market: In Pittsburgh, the typical luxury home that went under contract did so in 64 days, down 17 days from a year earlier—the biggest decrease among the metros Redfin analyzed. Next came Austin, TX (-16) and Tampa (-14). The biggest increases were in New York (33), Las Vegas (31) and Philadelphia (18).

To view the full report, including charts and full metro-level data, please visit: https://www.redfin.com/news/luxury-housing-market-april-2026

About Redfin

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.