Detroit Hangs on to the Top Spot
This quarter’s luxury housing market leaderboard reinforces a theme that has been building: the top-performing luxury markets are not defined by price alone. They are defined by balance. Markets that pair livability and economic durability with workable supply and demand conditions continue to rise, while some traditionally expensive locations are still competitive but face more friction on affordability and risk.
Each quarter, Realtor.com and the Wall Street Journal team up to identify the highest-performing and most attractive metro areas for luxury home purchases. We score 60 different luxury housing markets across the country in categories that include supply and demand strength, economic health, and quality of life. This fall ranking highlights that a city can truly reinvent itself.
Highlights
- Detroit–Warren–Dearborn and St. Louis remained firmly in the top spots, benefiting from value-forward luxury profiles.
- San Diego–Chula Vista–Carlsbad delivered one of the biggest moves this quarter, climbing into the top three as pricing pressures eased and competitiveness improved.
- Prescott re-emerged as a top contender, illustrating how smaller lifestyle-oriented markets can move quickly when demand shifts.
Results for this quarter
| Luxury Ranking | Metro Area | 90th Percentile Listing Price | Population | Unemployment Rate |
| 1 | Detroit-Warren-Dearborn, MI | $679,846 | 4,400,578 | 4.6% |
| 2 | St. Louis, MO-IL | $627,559 | 2,811,927 | 4.1% |
| 3 | San Diego-Carlsbad, CA | $2,911,482 | 3,298,799 | 4.7% |
| 4 | Salt Lake City, UT | $1,197,650 | 1,300,762 | 3.5% |
| 5 | Santa Maria-Santa Barbara, CA | $9,808,500 | 444,500 | 4.8% |
| 6 | Charlottesville, VA | $1,276,430 | 227,336 | 3.0% |
| 7 | Portland-South Portland, ME | $1,597,000 | 571,534 | 2.8% |
| 8 | Bridgeport-Stamford-Norwalk, CT | $3,995,000 | 972,679 | 3.6% |
| 9 | Minneapolis-St. Paul-Bloomington, MN-WI | $969,698 | 3,757,952 | 3.5% |
| 10 | Prescott, AZ | $1,425,750 | 252,013 | 4.1% |
Detroit stays No. 1
Detroit–Warren–Dearborn held firm at the top this quarter, reinforcing the strength of value-forward luxury markets. When the entry point to the luxury tier remains accessible, buyer demand can stay active even as households grow more selective, and overall performance is supported by steady fundamentals rather than reliance on a single standout factor. Nationally, the starting point for luxury, defined as the top 10% of listings, sits near $1.19 million. In Detroit, that threshold remains below $700,000, highlighting the degree of purchasing power high-end buyers retain in the metro.
Detroit’s hold on the No. 1 spot sends a clear signal about where luxury demand is most comfortable today. Buyers remain engaged, but they are increasingly prioritizing markets where the high-end tier represents a premium lifestyle upgrade rather than a premium driven solely by location. Detroit continues to post a high floor across the fundamentals that matter most in a selective market, including stable buyer interest, relative affordability within the luxury tier, and an economic and livability profile that supports sustained activity rather than short-lived momentum.
St. Louis remains the value-forward contender at No. 2
St. Louis continues to perform like a “substance-over-flash” luxury market. It is the type of metro that ranks well when buyers are weighing total lifestyle value: housing cost relative to local wages, manageable commuting, and steady economic footing. In periods where uncertainty pushes buyers to be more deliberate, this kind of market can consistently score near the top.
Similar to Detroit, St. Louis offers one of the most accessible entry points to the luxury market among major U.S. metros. The 90th percentile listing price in the St. Louis metro sits near $628,000, well below the national luxury threshold of roughly $1.19 million. That relative affordability continues to support active demand. Homes priced at the 90th percentile are spending a median of 73 days on the market as of December 2025, nearly two weeks faster than a year ago and meaningfully below the national 90th percentile median of 88 days. These dynamics point to a luxury market that remains functional and liquid.
Spotlight: Big mover – San Diego rises to No. 3
The San Diego-Chula Vista-Carlsbad metro’s move higher in this quarter’s rankings reflects a luxury market that is becoming more competitive rather than more speculative. While San Diego remains one of the most expensive metros in the rankings, recent pricing and inventory dynamics have improved its overall balance, helping it stand out among high-cost coastal peers.
The starting point for luxury in the San Diego metro currently sits just under $2.91 million at the 90th percentile, down nearly 3% from a year ago. That modest cooling has coincided with market turnover. Homes in the 90th percentile are spending a median of 77 days on the market, down year over year, signaling that demand remains engaged.
San Diego’s luxury market reflects a deeply normalized high-end landscape rather than a narrow, top-heavy segment confined to a small share of listings. More than 43% of active listings in the metro are priced above $1 million, underscoring how embedded luxury housing has become across the broader market rather than isolated at the very top. This depth allows activity to be distributed across a wide range of high-end properties, supporting steadier demand.
Recent pricing trends suggest that this normalization is helping the market adjust rather than stall. Declines across the upper price percentiles indicate sellers are recalibrating expectations to align with current buyer sensitivity, which has helped prevent listings from lingering and supported ongoing turnover. Instead of testing price ceilings, the luxury segment in San Diego appears to be moving toward a more balanced equilibrium.
San Diego’s rise in the rankings reflects a market where premium lifestyle appeal is now paired with improving affordability at the margin. For