The median U.S. luxury home sale price rose 3.6% year over year to $1.39 million during the three months ending April 30—more than double the 1.4% gain in non luxury sale prices. 

Luxury prices are on the rise as demand for luxury homes increases. Pending sales of luxury homes jumped 4.3% year over year—the largest gain since January 2025. That’s slightly larger than the 4% gain in non luxury pending sales, which was the biggest since December 2024. Homebuyer demand has generally been climbing thanks to an improving job market and a decline in mortgage rates last month, though rates have been more volatile in May.