Sales of ultra-luxury homes in the United States — homes priced $10 million and up — were on the rise in the first half of 2024, according to the COMPASS Mid-Year Ultra-Luxury Report, which found transactions in this rarefied segment climbed 3.9% year over year to 838 deals worth $14.67 billion.
In Dallas-Fort Worth, just five homes with a total value of $70.8 million changed hands, up from three homes worth $43.8 million in 2023.
“Ultra-luxury homes feature prime locations, exquisite architectural elements, designated wellness spaces and functional living areas,” Dallas COMPASS agent Jonathan Rosen said in the report. “Buyers are motivated by secure investments, economic factors, and an attractive lifestyle. Homes in this category typically sell quickly, reflecting market dynamism and projecting sustained momentum.”
Of the top 81 U.S. markets covered in the report, 20 experienced increases in ultra-luxury sales. Greater Los Angeles led among all metro areas, with 135 sales representing $2.67 billion in dollar volume, followed by Manhattan, Palm Beach County and Miami-Dade. Together, the top 10 markets represented 75% of all sales in the study.