That outpaces the record 37% decline in sales of non luxury homes. The supply of luxury homes for sale is also near historic lows.
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"There is still strong buyer demand for high-end homes," said Redfin's chief economist, Nela Richardson. "Despite declining inventory, luxury sales soared in the third quarter." Sales of homes priced at or above $1 million were up 11 percent from a year ago, while sales of homes priced ...
While the price-tag was huge, the property was the latest in a line of homes to sell for a major discount to their original asking prices, marking the culmination of years of aggressive or arguably aspirational pricing for luxury homes across the country. The roughly 25,000-square-foot mansi...
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