\nThe median U.S. luxury home sale price rose 3.6% year over year to $1.39 million during the three months ending April 30\u2014more than double the 1.4% gain in non luxury sale prices. That\u2019s according to a new report<\/a> from Redfin, the real estate brokerage powered by Rocket.<\/p>\n
\nLuxury prices are on the rise as demand for luxury homes increases. Pending sales of luxury homes jumped 4.3% year over year\u2014the largest gain since January 2025. That\u2019s slightly larger than the 4% gain in non luxury pending sales, which was the biggest since December 2024. Homebuyer demand has generally been climbing thanks to an improving<\/a> job market and a decline in mortgage rates last month, though rates have been more volatile<\/a> in May.<\/p>\n Stacey Bryant<\/a>, a Redfin Premier<\/a> real estate agent in Boston, noted that luxury buyers are typically less sensitive to mortgage-rate swings than non luxury buyers, which may be one reason the luxury market is holding up relatively well.<\/p>\n \n\u201cWhen I have a buyer looking at a home above $1 million, interest rates and geopolitical uncertainty don\u2019t matter as much,\u201d Bryant said. \u201cThey want to buy a home and have the means to do it, so a 6.3% mortgage rate versus a 6.1% mortgage rate doesn\u2019t really make a difference.\u201d<\/p>\n \nNo metro Redfin analyzed saw a larger gain in luxury pending sales than San Francisco, which posted a 48.4% year-over-year increase in April\u2014the largest since June 2021. San Francisco\u2019s housing market has been on the upswing thanks to the AI boom, which has landed many workers with hefty paychecks and bonuses.<\/p>\n \nThe uptick in luxury home prices and demand in many parts of the country is likely incentivizing more high-end homeowners to put their houses up for sale. New listings of U.S. luxury homes climbed 2% year over year during the three months ending April 30, compared with a 0.6% gain in non luxury new listings. San Francisco saw the second largest gain in new listings.<\/p>\n \nThis report is based on a Redfin analysis of MLS data that is subject to revision. All figures cover rolling three-month periods. Redfin defines luxury homes as those estimated to be in the top 5% of their metro area\u2019s price range, while non-luxury homes fall into the 35th\u201365th percentile.<\/p>\n Luxury Market Summary: Three Months Ending April 30, 2026<\/b><\/p>\n
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