Luxury homebuyers getting more bang for their buck in Atlanta, Denver

"In metros such as Atlanta, Denver and Houston, luxury homes priced between $1 million and $2 million often offer more than 4,000 square feet roughly 50% larger than the national average of 2,994 square feet. Coastal markets, including Honolulu, San Jose and San Francisco, remain constrained, with typical listings in that price range offering 1,651, 1,688, and 1,855 square feet, respectively."

"Luxury buyers are increasingly seeking value and that doesn't always mean a lower price tag, but rather more home for the money, said Realtor.com senior economist Anthony Smith. In markets like Honolulu or the Bay Area, buyers are paying for proximity, views, and prestige not square footage. By contrast, in inland metros across the South and Midwest, high-end buyers can often find larger, newer homes with land and amenities that would cost two or three times as much in more supply-constrained coastal metros."

"The national luxury benchmark, defined as the 90th percentile of listing prices, fell 0.5% month-over-month and 2.4% year-over-year to $1.24 million, the report said. Data also shows the upper tiers of the market moderating with the 95th percentile dropping 1.2% to $1.95 million and the ultra-luxury segment at the 99th percentile dipping 0.2% to $5.41 million. Danielle Hale, chief economist at Realtor.com, said the modest softening reflects a broader market recalibration."

In metros such as Atlanta, Denver and Houston, luxury homes priced between $1 million and $2 million often offer more than 4,000 square feet, roughly 50% larger than the national average of 2,994 square feet. Coastal markets including Honolulu, San Jose and San Francisco remain constrained, with typical listings in that price range offering 1,651, 1,688 and 1,855 square feet respectively. Luxury buyers increasingly prioritize value measured by square footage, amenities or newer construction over lower price alone. National luxury price benchmarks softened modestly across several percentiles, and luxury homes are taking longer to sell, with 90th-percentile listings spending a median 79 days on market.

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