Big deals

REAL ESTATE • Market Report

It was a strong year for ultra luxury home purchases in 2024, with 1,744 properties trading hands nationwide at $10M or above. That’s a 12% increase over last year, per Compass’s year-end Ultra Luxury Report. Ten markets accounted for 70% of all sales, with Manhattan in the top slot, and the Hamptons in eighth.

The full top 10:

1. Manhattan NY • 307 sales (20%)

2. Greater Los Angeles CA • 190 (-18% YoY)

3. Miami-Dade FL • 152 (29%)

4. Palm Beach County FL • 132 (21%)

5. Orange County CA • 107 (32%)

6. Silicon Valley & Peninsula CA • 72 (1%)

6. Southwest Florida FL • 72 (76%)

8. The Hamptons NY • 70 (-3%)

9. Aspen CO • 58 (-12%)

10. San Diego CA • 56 (30%)

Elsewhere in the ultra-luxe neighborhood, Greenwich, CT (17 sales, 31%) was the only other local market to crack double digits. Brooklyn (8 sales, 14%) recorded one more sale than last year.

Some other emerging markets: Snowmass Village, Colorado notched 21 $10M+ sales, 3x last year’s number. Tampa Bay and Sarasota, Florida doubled, with 26 sales across the market. The Lake Tahoe region tallied 3 ultra-luxury sales, compared to 12 in 2023. Finally, Greater Nashville splashed onto the scene, with nine such transactions in 2024 versus last year’s single sale.