New York and Los Angeles have long been the top luxury real estate markets in the country. But when it comes to growth, Texas is now tops.
According to the latest Luxury Market Report from Coldwell Banker Previews, Austin, Texas, was the country’s No. 1 city last year for sales growth of homes priced at $1 million or more.
Coldwell credited the city’s boom in technology, entertainment and education for its 32 percent increase. That boost translated into 694 million-dollar homes being sold.
Fort Lauderdale, Florida, ranked second, with growth of 31 percent and 789 total million-dollar homes being sold. It was followed by Seattle, with a 30 percent rise to 979 million-dollar homes, and Atlanta, which saw a 21 percent increase and sold 1,140 million-dollar homes.
When it came to sales growth for homes priced at $10 million or more, Miami ranked first, followed by Del Ray, Florida, and the Newport coast of California.
As for the total number of high-end sales, New York dominated for those priced at $1 million or more, $5 million or more and $10 million or more. A whopping 7,445 million-dollar homes were sold in New York City last year.
And the top ZIP code for million-dollar homes? Well, sorry 90210. North Miami Beach — or 33160 — led the nation. The top ZIP code for homes sold for $10 million or more was 33139, or Miami Beach.
“Across all price categories, Florida elevated its coveted position as a top destination for the real estate elite,” the report said.