Isaac Toledano, CEO and Founder of BH Group, spoke to Fox News Digital about how Donald Trump’s 2024 election victory will drive positive action in real estate.
According to a report by Compass, 2024 is a good year for the ultra-luxurious real estate market, with several regions distinguished as the main market in that category.
The Compass has found that the U.S. super-luxury market has marked over 1,700 sales of at least $10 million homes over the last year, marking a 350% jump from 2023. Those sales are worth a total of $313.9 billion, the real estate company said.
Of that incredible figure, roughly $23.2 billion came from 10 locations in four states that dominated the ultra-luxury market by sales volume.
Homeownership maintains a big part of the American Dream
New York, California, Florida and Colorado were all representatives in the top ultra-luxury markets in the US in 2024, according to the Compass Report.
US Villa Market
Here are five markets that top the rankings of ultra-luxurious properties compasses by sales volume, and the number of homes that changed hands last year by at least $10 million. Based on the company’s report, Fox Business calculated the average super-luxury sales price for each by dividing the volume by the number of homes it sells.
Manhattan
The Manhattan Midtown skyline will be seen from the “Edge of Hudson Yard” observation deck prior to the solar eclipse across North America in New York City on April 8, 2024. This year’s overall road is 115 miles (185 km) wide, and the house is (Charly Triballeau/AFP via Getty Images/Getty Images)
Total super-high-end sales volume: $7.5 billion
Houses sold: 307
Average price: $24.6 million
Greater Los Angeles
On December 6th, 2024, a layer of smog remains above the downtown Los Angeles skyline. On December 4, the National Weather Service issued air quality warnings to the Greater Los Angeles area until late at night on December 6th. (Etienne Laurent/AFP via Getty Images/Getty Images)
Total super-high-end sales volume: $3.3 billion
Houses sold: 190
Average price: $17.5 million
Miami Dade
Miami Beach, Florida, Biscayne Bay, Miami Downtown City Skyline. (Photo: Getty Images via Jeffrey Greenberg/UCG/Universal Image Group) (Jeffrey Greenberg/UCG/Uversal Image Group Getty Images/Getty Images)
Total sales volume: $2.7 billion
Houses sold: 152
Average price: $18 million
Palm Beach County
The boat was docked next to a detached house in Palm Beach, Florida, USA on Wednesday, April 7, 2021. A contract to purchase a detached home that costs more than 306% from the previous year to March is the greatest profit. Since Pandem (Getty Images/Marco Bello via Getty Images/Bloomberg)
Total super-luxury sales volume: $2.5 billion
Houses sold: 132
Average price: $18.8 million
Orange County
Gorgeous South Orange County in South Orange County, California on a beautiful day (Adamkaz / istock)
Total super-high-end sales volume: $1.6 billion
Houses sold: 107
Average price: $14.8 million
With sales volumes of ultra-luxury homes, Aspen ranks sixth in the Compass with $1.4 billion, Hamptons ranks seventh in $1.2 billion, Silicon Valley ranks eighth in $1.06 billion, and Southwest Florida He came in ninth place with $1.03 billion. San Diego ranked 10th at $835. 8 million.
According to Redfin, these were the most expensive homes sold in 2024
“The premium market continues to deny expectations with a wave of momentum from coast to coast,” Compass’s gorgeous head Hernandez Smith said in a press release.
