U.S. Entry-Level Luxury Prices Steady at $1.19M as New Markets Expand
National entry-level luxury home prices held steady at $1.19 million in January while the 90th-percentile threshold dipped just 0.6% year-over-year. Legacy markets like San Francisco (median build year 1974) contrast with emerging hubs such as Heber, Utah (2024), where luxury inventories are almost entirely new construction.
1. National Luxury Price Trends
January data show national luxury thresholds largely stable: the 90th-percentile threshold held at $1.19 million (0.0% month-over-month, –0.6% year-over-year), the 95th-percentile reached $1.91 million (+0.5% MoM, –3.0% YoY) and the 99th-percentile climbed to $5.64 million (+1.9% MoM, –4.3% YoY). Million-dollar listings represented 12.0% of total luxury inventory, matching levels from January 2025.
2. Legacy vs Emerging Luxury Markets
In established coastal metros such as San Francisco–Oakland (median build year 1974) and San Jose (1977), luxury homes average 1,600–2,000 sq ft and sold in a median 19–78 days this January, reflecting scarcity. Conversely, markets like Heber, Utah (2024), Boise (2021) and Raleigh (2019) feature brand-new, spacious construction that defines their luxury tiers and meets modern demand for scale and customization.