The flight of homeowners from large urban centers to the suburbs has unexpectedly begun to reshape residential real estate, but luxury property in large cities have also gotten a boost from the hot market.
But stark differences exist between luxury markets across the country, prompting MyAffordableLuxury.com to analyze the top 10% of the listings starting at $500,000 on Zillow and Redfin to determine the starting point for a luxury property.
Miami was ranked as the 12th priciest luxury market, with high-end properties starting at $1.8 million. The median price for a home in Miami was $440,000, and the most expensive listing on the market was $29.5 million.