Sales of $100 million homes are on track to double this year, as surging financial markets and hopes for rate cuts fuel a recovery in the ultra-luxury real estate market, according to new reports.
As of July 15, six homes in the U.S. have sold for more than $100 million, according to data from Miller Samuel and Douglas Elliman.
If the sales pace continues, it would more than double last year's total and likely eclipse the record of nine homes sold for over $100 million in 2021.
But sales of homes priced at $50 million, $20 million and even $10 million are all signaling a strong rebound for the ultra-luxury real estate market after its decline in 2023.
A penthouse at Central Park Tower — the tallest residential building in the world — closed for $115 million to an unknown buyer.
Persons:
Robert Frank, Miller Samuel, Douglas Elliman, Jonathan Miller, Aman, Vladislav Doronin, Oakley, James Jannard
Locations:
U.S, Manhattan, York, Russian, Palm, Tarpon Island, California