A handful of ultra-luxury properties easily surpassed the national median home price in 2024, with one Californian mansion commanding a staggering $96 million.
Key Facts:
– Redfin reported the national median home price around $383,725, though top-tier properties hit eight and nine figures.
– A cliffside estate in California sold for $96 million, making it the biggest public sale of 2024.
– “The Ranch at Owl Creek” in Aspen fetched $77 million, featuring lavish amenities like a stocked trout pond.
– A Miami Beach mansion on Biscayne Bay changed hands for $72.25 million.
– Other high-end transactions included a $66.5 million Aspen property and a $65 million Carpinteria oceanfront compound.
The Rest of The Story:
In closing out 2024, Redfin tallied real estate transactions around the nation and found multiple big-ticket sales that dwarfed average purchase prices.
The year’s top public deal was a $96 million California home perched on an oceanfront bluff.
Boasting five bedrooms and expansive acreage, it was described as a Tuscan Farmhouse–inspired estate.
Colorado’s ski country also ranked high on the list with “The Ranch at Owl Creek” selling for $77 million.
This mountain oasis sits on 60 acres and comes loaded with amenities: a heated pool, hot tubs, a movie theater, and a wine cellar.
Another Aspen property changed hands for $66.5 million, and county records show it was previously sold for $20.5 million in 2022—quite a jump in just two years.
In Florida, a Miami Beach mansion claimed a $72.25 million price tag.
The property features nine bedrooms, along with “maid/in-law quarters” and a waterfront view of Biscayne Bay.
Over in Carpinteria, California, a three-parcel, 12-acre compound went for $65 million.
The property offers private beach access, nine bathrooms, and 24/7 guarded security.
Rounding out the elite sales, Los Angeles, another location in Miami Beach, and even the Reno area saw listings close for over $60 million apiece.
Still, the record for the country’s priciest residential deal remains a $238 million transaction in New York City back in 2019.
If you want to get a sense for how bifurcated the US Housing Market is, look at this graph.
In the South there are now 472k active listings on the market.
109% higher than the entirety of the Northeast and Midwest combined.
Indicating that the Housing Market in the South is… pic.twitter.com/HCyYvdjIDN
— Nick Gerli (@nickgerli1) August 13, 2024
The Bottom Line:
With 2024 in the books, the luxury housing market shows no sign of slowing down in America’s most elite regions.
From the California coast to the mountains of Colorado, ultra-high-end buyers invested millions—sometimes tens of millions—in properties with sprawling acreage and spectacular amenities.
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These transactions underline the difference between average home prices and the top of the real estate pyramid.