Redefining Luxury: Million-Dollar Homes Aren't What They Used To Be

Is a million-dollar home still considered luxury? The answer might surprise you. Discover how the meaning of luxury in real estate has drastically changed in the last decade, with today's luxury homes starting at $1.3 million nationally—a staggering 60% increase since 2016. Learn how a million-dollar listing now only places a home in the top 13%, and why location heavily influences what buyers consider luxury. Plus, explore markets like New York, where high-end listings are becoming the norm, and understand why both buyers and sellers need to redefine their expectations of what makes a home truly special.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.