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Miami ranks 12th priciest luxury market in the U.S.

by Timothy Inklebarger

Miami ranks 12th priciest luxury market in the U.S.

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.

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