Photo: Google Maps
In the U.S., three markets tend to dominate the luxury real estate market—Miami, Los Angeles, and New York.For the most part, the trend holds true, according to Coldwell Banker, which just released its 2012 luxury market report looking at cities and zip codes with the highest numbers of luxury listings and home sales.
In terms of places with the most $1 million+ homes for sale, California reigned supreme.
#8: LOS ANGELES, CALIF. (90049): 469 homes are for sale for $1 million or more. Of those, 73 are listed for $5 million and up, and 41 of those are $10 million+. Last year, 10 homes in the neighbourhood sold for $10 million or more.
#7: LAGUNA BEACH, CALIF. (95651): 488 homes are on the market for $1 million and up. Of those, 76 are $5 million or more, and 25 of those are listed for more than $10 million.
#5 MIAMI BEACH, FLA. (33139): 507 homes are on the market for $1 million or more. Of those, 106 are listed for $5 million+, and 31 are going for $10 million+. Seven homes sold for $10 million or more in the zip code last year.
#4 MALIBU, CALIF. (90265): 551 homes are on sale for $1 million or more. Of those, 156 are listed for $5 million+, and 66 are on sale for $10 million+. Malibu has the most listings for sale above the $10 million mark of any zip code in the country.
#3 BEVERLY HILLS, CALIF. (90210): 569 homes are on sale for $1 million and up. Of those, 184 are listed for $5 million and up, and 56 are on sale for $10 million or more. Beverly Hills also had the most sales of $10 million+ homes last year, at 21.
#2 LA JOLLA, CALIF. (92037): 582 homes are on sale for $1 million and up. Five homes in La Jolla sold for $10 million+ last year.
#1 WESTPORT, CONN. (06880): 586 homes are on sale for $1 million+. But the town didn't even rank in the top 10 when it came to $5 million+ and $10 million+ listings.
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