To be sure, fine examples of luxury property valued at $1 million and upward can be found in all 50 states of this great nation, from coast to coast. But although there certainly is no shortage of high-priced homes in the U.S., there are a few, uniquely-luxurious locales where the ultra-wealthy tend to congregate. These areas also offer stunning natural beauty, lively entertainment and shopping districts, and excellent business opportunities.
Wondering which U.S. cities top our list? Read on to see some of the best luxury real estate locations we’ve identified as solid investments and great places to call home, too:
1. Manhattan, New York
Considered the heart of culture and commerce in the U.S. (and much of the western world), New York City has a lot going for it: Extremely limited real estate inventory, cultural and commercial opportunities without end, entertainment, fine dining, fashion, world-class accommodations, amenities, white-glove service, and more. Park Avenue, in particular, is known for its multi-million-dollar condominiums and penthouses, with views of the city, Central Park, and the rivers.
2. Beverly Hills, California
The zip code 90210 is synonymous with the lifestyles of the rich and famous; just the mere mention of it brings to mind sprawling estates, glorious boulevards, and upscale shopping districts filled with movie stars and fashion icons. Real estate in Beverly Hills ranges from vintage mansions that originate from the Golden Age of Hollywood to contemporary condos and villas.
However, Beverly Hills isn’t the only place in sunny Southern California that boasts high-end homes. As a matter of fact, Elite Auctions has sold several spectacular properties nearby, including a contemporary Diamond Bar estate, and an authentic Spanish hacienda in Rancho Santa Fe.
3. East Hampton, New York
The Hamptons are one of the most sought-after summer destinations in the country. East Hampton in particular is known as a hub for wealthy New Yorkers looking to escape the city during the warmer months. With a median home listing price of $1.8 million in 2021, this Long Island town is a treasure trove of impressive estates.
4. Palm Beach, Florida
As with many other beach locales, Palm Beach has become established in the luxury real estate world as a haven for wealthy retirees seeking to bask in the warm sun and enjoy 18-holes of golf at any of the numerous private country clubs in the area. This stunning strip of land offers gorgeous weather almost year-round, white, sandy beaches, and a high concentration of stately properties. In late 2020, the average home price was estimated at over $7 million.
5. Washington, D.C.
As the capital of our nation, the seat of the U.S. federal government, and home to the halls of power, Washington D.C. might not seem like the ritziest location on this list, but it certainly provides a wide array of high-end properties. Within the D.C. area, median single-family home prices rose above the $1 million mark in 2020.
You’ll also find stunning estates in the surrounding metro area, such as Potomac, Maryland.
6. Miami, Florida
Luxury homes in Miami top the charts as some of the most expensive in the U.S. The real estate market in this tropical destination is condo-heavy, driving up the value of single-family homes. Additionally, because the city is quickly becoming a major cultural and business hub, it’s growing in demand among international investors. The beaches and yachts, the nightlife, fashion, dining and upscale shopping, pro sports, and year-round warm weather…who wouldn’t want to live here in a multi-million dollar home?
Get the Most Value for Your Luxury Listing with Help from Elite Auctions
No matter where your luxury property is located, Elite Auctions can help you find a buyer–fast (within 30-45 days).
Our professional auction team will handle everything, including all marketing efforts for your property’s auction, private showings, and even auction-day negotiations.