America’s 10 Hottest Markets for $10M-Plus Homes, Ranked

Despite the fact that most Americans continue to grapple with affordability challenges, the market for $10 million-plus homes is growing.

“Even as [the] broader U.S. housing [market] marked its third consecutive year of soft home sales, the story for ultra-luxury homes plays out on a different arc,” Mike Simonsen, chief economist at Compass, said in a press release.

“As record gains in the stock market and major liquidity events turn wealth on paper into real purchasing power, activity at the top of the housing market tends to pick up. That dynamic explains why ultra-luxury sales grew in 2025 and spilled over across metros.”

As for where Americans are snapping up $10 million-plus homes, sales are largely concentrated in Manhattan, Greater Los Angeles and South Florida — but they’ve expanded beyond these supply-constrained areas as wealthy buyers look for more development-friendly markets.

Here’s a look at the 10 markets with the most $10 million-plus home sales in 2025, according to Compass.

Also see five luxury real estate markets where the ultra-rich are buying.

• Units sold priced at $10 million-plus: 398
• Year-over-year change: 29.6%

• Units sold priced at $10 million-plus: 292
• Year-over-year change: 53.7%

• Units sold priced at $10 million-plus: 193
• Year-over-year change: 46.2%

• Units sold priced at $10 million-plus: 173
• Year-over-year change: 13.8%

• Units sold priced at $10 million-plus: 121
• Year-over-year change: 13.1%

• Units sold priced at $10 million-plus: 98
• Year-over-year change: 36.1%

• Units sold priced at $10 million-plus: 93
• Year-over-year change: 20.8%

• Units sold priced at $10 million-plus: 85
• Year-over-year change: 18.1%

• Units sold priced at $10 million-plus: 82
• Year-over-year change: 41.4%

• Units sold priced at $10 million-plus: 66
• Year-over-year change: 17.9%

Editor’s note: Data was sourced from Compass and is accurate as of Jan. 29, 2026.