10 Cities Where the Prices of Luxury Housing Are Cooling

Housing prices remain high across the U.S. for a variety of reasons, including an inventory shortage — in itself a complex and multifaceted issue. The cost of luxury homes is particularly steep and ever steepening. Why? Because high-end homebuyers want big yards, top-notch materials, spacious rooms, stunning views and other pricey amenities that “average” homes typically don’t provide.

But not all cities with a bustling luxury housing market are seeing prices skyrocket. Some are actually cooling down — though to be clear, with the exception of one, these cities are not dropping in cost.

Here’s a look at the 10 U.S. cities that, according to research from the New York Post, have seen the most stable luxury prices over the past four years. The research featured only the single city with the lowest luxury price growth per state, to ensure geographic diversity. Cities are listed from highest to lowest increase.

• Most expensive 5% of listings in April 2020: $2,350,000 and up
• Most expensive 5% of listings in April 2024: $2,912,450 and up
• Number of listings above $2,912,450 in April 2024: 81

Increase: 24%

• Most expensive 5% of listing in April 2020: $669,443 and up
• Most expensive 5% of listings in April 2024: $814,638 and up
• Number of listings above $814,638 in April 2024: 54

Increase: 22%

• Most expensive 5% of listings in April 2020: $1,068,488 and up
• Most expensive 5% of listings in April 2024: $1,300,000 and up
• Number of listings above $1,300,000 in April 2024: 47

Increase: 22%

• Most expensive 5% of listings in April 2020: $1,022,273 and up
• Most expensive 5% of listings in April 2024: $1,219,167 and up
• Number of listings above $1,219,167 in April 2024: 31

Increase: 19%

• Most expensive 5% of listings in April 2020: $632,765 and up
• Most expensive 5% of listings in April 2024: $749,900 and up
• Number of listings above $749,900 in April 2024: 21

Increase: 19%

• Most expensive 5% of listings in April 2020: $849,003 and up
• Most expensive 5% of listings in April 2024: $1,004,188 and up
• Number of listings above $1,004,188 in April 2024: 18

Increase: 18%

• Most expensive 5% of listings in April 2020: $765,000 and up
• Most expensive 5% of listings in April 2024: $895,858 and up
• Number of listings above $895,858 in April 2024: 34

Increase: 17%

• Most expensive 5% of listings in April 2020: $938,888 and up
• Most expensive 5% of listings in April 2024: $998,450 and up
• Number of listings above $998,450 in April 2024: 24

Increase: 6%

• Most expensive 5% of listings in April 2020: $324,670 and up
• Most expensive 5% of listings in April 2024: $335,700 and up
• Number of listings above $335,700 in April 2024: 18

Increase: 3%

• Most expensive 5% of listings in April 2020: $2,995,900 and up
• Most expensive 5% of listings in April 2024: $2,972,500 and up
• Number of listings above $2,972,500 in April 2024: 115

Increase: -1%

Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.