Luxury Market Update

In the recent weeks luxury home prices have stayed relatively stable in the past few weeks. In the market for luxury homes in the United States it is a cool buyer’s market, meaning the amount of inventory exceeds the amount of buyers which typically influences prices to fall overall. In the Twin Cities area the average selling price for luxury homes is ~$900,000 with a median of 4,000 sqft.

The charts below show the 7-day and 90-day rolling averages for list price, days on market, and inventory for the metro area’s luxury market (e.g. top 10 zips with median prices above $500k)