The median U.S. home sale price just hit a record $408,776, and the story behind that number says a lot about where the market is headed. It is not first-time buyers pushing prices up. It is buyers at the top of the market, many paying in cash or putting down significantly more than a standard 20 percent.
- Over one in five homes sold above asking price last month
- San Francisco led the country with a 9.2 percent annual price jump, driven largely by tech wealth
- West Palm Beach followed closely, fueled by ultra-wealthy buyers relocating for tax and lifestyle reasons
- Homeowners with sub-5 percent mortgage rates are increasingly choosing to stay put, tightening inventory further
For sellers on the Main Line, in Philadelphia, or at the Shore, this trend matters. Buyers with resources are moving fast and confidently right now, and a well-positioned luxury property is likely to see real competition.
Photo: Courtesy of Robb Report
