Super-Luxury Home Sales Surge Across U.S., Rising 35% in 2021

In 2021, at least 40 residential properties sold for more than $50 million in the U.S., according to data compiled by the appraiser Miller Samuel.

That’s about a 35% increase over 2020, which was also a record year. “The surge in this tier is unprecedented,” says Jonathan Miller, the company's president and chief executive officer. “We’ve never seen this kind of growth.”

Fueled by a booming stock market, low interest rates, and a pandemic-era’s heightened emphasis on home life, prices for luxury houses have risen to stratospheric heights across the country.

“It’s a national phenomenon,” says Miller. “Not enough words have been written on the impact of low rates, even on the über-wealthy. And one big takeaway in housing is: The lower the rates, the higher the prices. And this is that phenomenon on steroids.”

The country’s eight most expensive homes, according to Miller Samuel’s data, each sold for $100 million or more and are spread equally between the Los Angeles metro area, the New York metro area, Palm Beach, Fla., and ranches in Montana.

“Since 2014, there’s been the establishment of a new class of property,” says Miller, referring to these $100 million-plus houses. “Initially, it seemed comical or whimsical; these numbers we were seeing came across as a flash in the pan. But now we’re in our seventh year of it.”