2025 Ultra-Luxury Report
February 3, 2026
February 3, 2026
If 2025 was defined by resilience, 2026 is shaping up to be a year of recalibration and opportunity. The ultra-luxury real estate market, particularly at the $10 million-plus tier, is entering a more deliberate phase, one marked less by urgency and more by intention. Wealth continues to be created, transferred, and strategically deployed, but with sharper discernment. Buyers are no longer simply purchasing homes; they are underwriting long-term lifestyle decisions in an environment where capital, technology, and values increasingly intersect.
What the data tells us is straightforward: wealth is forming, and it wants to live somewhere. In 2025, that meant Manhattan penthouses, Palm Beach estates, Aspen compounds, and Silicon Valley retreats. The top 10 markets in our analysis held their positions. Younger markets like Scottsdale, Dallas-Fort Worth, and Brooklyn began to emerge as hubs for some of the most expensive homes in the country.
Ultra-luxury housing is not a barometer of overall housing health. It is a barometer of economic growth and wealth creation. It shows where wealth is generated, where it migrates, and where it ultimately anchors. By that measure, 2025 delivered a clear and measurable signal.
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