Luxury Prices Continue Annual Declines, But 12 Markets Buck the Trend

The entry point to luxury housing fell to $1,197,014 in October. That’s down 2.3% from a year ago and marks the 31st straight month of annual declines, according to the Realtor.com October 2026 Luxury Housing Report.

According to the report, Florida emerged as a bright spot in a cooling national luxury market, accounting for five of the 12 metros that posted annual price gains of at least 1%.

Declines reached every luxury tier, Realtor.com noted.

The threshold for the top 5% of listings fell 4.1% year over year, while the top 1% fell 6.2%. At the same time, Realtor.com noted that luxury homes are selling faster than a year ago. It said that listings at the 90th percentile spent a median of 73 days on the market, five days fewer than last October, while the typical listing took 63 days, essentially unchanged.

The report noted that Florida had five of the 12 markets where luxury prices rose at least 1%, including Naples; North Port-Bradenton-Sarasota; Cape Coral-Fort Myers; Miami-Fort Lauderdale-West Palm Beach and Tampa-St. Petersburg-Clearwater.

Realtor.com noted that the South accounted for eight of the 12 markets.

Luxury Bright Spots

“Florida’s luxury bright spots have more in common than rising prices,” said Anthony Smith, Senior Economist at Realtor.com. “Million-dollar inventory is shrinking, and luxury listings are spending less time on the market in most of them. That smaller pool of available homes may be helping support prices, even as luxury thresholds fall nationally.”

The pullback was sharper at the top of the market, with the ultraluxury threshold falling about 2.7 times as fast as the entry-level luxury threshold.

Realtor.com noted that listings at the 95th percentile spent a median of 81 days on the market. That’s four days fewer than a year ago, while those at the 99th percentile spent 97 days, six days fewer than a year ago.

Million-dollar listings made up 12.3% of the market, down 0.5 percentage points from a year ago, Realtor.com said.

Bridgeport-Stamford-Danbury, Connecticut, ranked as the most expensive luxury market in October, with the 10% most expensive listings starting at $3,960,000, or 3.3 times the national luxury entry point. That metro moved up from fourth in September after a 10.1% monthly increase, though its threshold remained 6.8% below a year ago.

Los Angeles-Long Beach-Anaheim, Calif., ranked second at nearly $3.9 million, followed by Naples-Marco Island, Florida, at roughly $3.8 million. Naples was the only market in the top 10 with an annual gain, up 9%. The other nine declined, led by San Jose, California, down 12.1%, and New York-Newark-Jersey City, down 11.3%.

Not Every Market is Cooling

Behind Naples, North Port-Bradenton-Sarasota, Florida, recorded the second-largest annual gain at 7.7%, followed by Charleston-North Charleston, S.C., at 4.7%. Raleigh-Cary, N.C., and Boise City, Idaho, rounded out the top five, up 4.3% and 4.2%, respectively.

Outside Florida, higher luxury thresholds did not necessarily mean faster-moving listings, Realtor.com noted.

Market times lengthened in six of the seven other metros with price gains, while million-dollar inventory rose in all seven. Price growth also reached beyond entry-level luxury.

Realtor.com said that eight of the gaining metros saw increases across all three luxury tiers. Charleston’s ultraluxury threshold jumped 18.7% to about $8 million, while Boise’s rose 16.6% to roughly $3.5 million.