Nantucket Island, Massachusetts, known for its exclusive real estate, has a luxury housing market where nearly all listings exceed $1 million, and the median price is about $4.08 million. The island hosts around 14,000 residents, emphasizing the premium placed on limited land, strict construction rules, and conservation efforts that drive up property values.
Realtor.com’s analysis highlights 13 U.S. markets where over half of the active properties are priced above $1 million, with Nantucket and Vineyard Haven being prime examples. Other notable markets include Jackson, Wyoming, and Petoskey, Michigan, which, despite being lesser-known, offers attractive features like waterfront views and resort-style living.
While luxury markets remain robust, there are signs of a slight softening, with luxury home prices down about 2.9% year-over-year. Nonetheless, recent data shows a 3.7% increase in luxury home benchmarks from February to March, indicating ongoing strength in the sector.
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