Luxury living extends beyond breathtaking views and advanced home tech—it’s about enhancing your lifestyle. If you’re interested in million-dollar properties in the Triangle Area, now is an ideal time to explore the flourishing luxury home market. Here’s why.
The Availability of Luxury Homes Is Expanding
Luxury homes typically represent the top 5% price range in any region, though this can vary based on location. A recent Redfin report reveals that the value of homes in this category has now surpassed one million dollars:
The median sale price for U.S. luxury homes, defined as the top 5% of listings, rose 9% year-over-year to a record $1.18 million during the second quarter.”
The same report shows that the percentage of homes valued at a million dollars or more has reached an all-time high (see graph below).
This means there are a variety of high-end properties available, each offering unique features and styles.
Whether your focus is on modern kitchens with premium appliances, exclusive amenities, or enhanced privacy and security, the luxury home market in the Triangle Area has options to fit your lifestyle.
Your Luxury Home Is an Investment
A luxury home isn’t just a residence; it’s a powerful investment. With rising prices in the luxury home market, many are choosing to invest in high-end real estate in Raleigh. The August Luxury Market Report highlights this trend:
By the end of July, the overall growth in the volume of sales in 2024 stood at 14.82% for single-family homes and 11.35% for attached homes compared to the same period in 2023.”
Bottom Line
With a wider selection of million-dollar homes and steadily rising prices, the luxury home market offers diverse options and potential for long-term wealth. Interested in exploring premier homes in our area? Contact Linda Craft Team Realtors!