The median U.S. luxury home sale price rose 4.7% year over year to $1.37 million during the three months ending May 31—more than triple the 1.5% gain in non luxury sale prices. 

Luxury prices are increasing largely because demand for luxury homes is on the rise. Pending sales of luxury homes rose 5.2% year over year—the largest gain since December 2024. That’s compared with a 3.6% gain in non luxury pending sales, which is a deceleration from the month before.