Luxury Home Sales in U.S. Decline for First Time in 2 Years
February 07, 2019 / Michael Gerrity
According to Redfin, the average sale price for U.S. luxury homes nationwide rose 4.7 percent annually to an average of $1,772,000 in the fourth quarter of 2018. That's on par with the annual growth seen in the second quarter of last year and up from a 3.2 percent growth rate in the third quarter.
In the other 95 percent of the market, prices grew 4.3 percent to an average of $341,000 in the fourth quarter.
The typical luxury home that sold in the fourth quarter went under contract in 74 days, down from 78 days during the same period in 2017. Compare that with non-luxury homes: Homes that sold in the final quarter of 2018 took 56 days to go under contract, down from 63 days in the fourth quarter the year before.