The Winter 2026 Wall Street Journal/Realtor.com Luxury Housing Market Ranking
Detroit Hangs on to the Top Spot
This quarter’s luxury housing market leaderboard reinforces a theme that has been building: the top-performing luxury markets are not defined by price alone. They are defined by balance. Markets that pair livability and economic durability with workable supply and demand conditions continue to rise, while some traditionally expensive locations are still competitive but face more friction on affordability and risk.
Each quarter, Realtor.com and the Wall Street Journal team up to identify the highest-performing and most attractive metro areas for luxury home purchases. We score 60 different luxury housing markets across the country in categories that include supply and demand strength, economic health, and quality of life. This fall ranking highlights that a city can truly reinvent itself.
Highlights
- Detroit–Warren–Dearborn and St. Louis remained firmly in the top spots, benefiting from value-forward luxury profiles.
- San Diego–Chula Vista–Carlsbad delivered one of the biggest moves this quarter, climbing into the top three as pricing pressures eased and competitiveness improved.
- Prescott re-emerged as a top contender, illustrating how smaller lifestyle-oriented markets can move quickly when demand shifts.
Results for this quarter
| Luxury Ranking | Metro Area | 90th Percentile Listing Price | Population | Unemployment Rate |
| 1 | Detroit-Warren-Dearborn, MI | $679,846 | 4,400,578 | 4.6% |
| 2 | St. Louis, MO-IL | $627,559 | 2,811,927 | 4.1% |
| 3 | San Diego-Carlsbad, CA | $2,911,482 | 3,298,799 | 4.7% |
| 4 | Salt Lake City, UT | $1,197,650 | 1,300,762 | 3.5% |
| 5 | Santa Maria-Santa Barbara, CA | $9,808,500 | 444,500 | 4.8% |
| 6 | Charlottesville, VA | $1,276,430 | 227,336 | 3.0% |
| 7 | Portland-South Portland, ME | $1,597,000 | 571,534 | 2.8% |
| 8 | Bridgeport-Stamford-Norwalk, CT | $3,995,000 | 972,679 | 3.6% |
| 9 | Minneapolis-St. Paul-Bloomington, MN-WI | $969,698 | 3,757,952 | 3.5% |
| 10 | Prescott, AZ | $1,425,750 | 252,013 | 4.1% |
Detroit stays No. 1
Detroit–Warren–Dearborn held firm at the top this quarter, reinforcing the strength of value-forward luxury markets. When the entry point to the luxury tier remains accessible, buyer demand can stay active even as households grow more selective, and overall performance is supported by steady fundamentals rather than reliance on a single standout factor. Nationally, the starting point for luxury, defined as the top 10% of listings, sits near $1.19 million. In Detroit, that threshold remains below $700,000, highlighting the degree of purchasing power high-end buyers retain in the metro.
Detroit’s hold on the No. 1 spot sends a clear signal about where luxury demand is most comfortable today. Buyers remain engaged, but they are increasingly prioritizing markets where the high-end tier represents a premium lifestyle upgrade rather than a premium driven solely by location. Detroit continues to post a high floor across the fundamentals that matter most in a selective market, including stable buyer interest, relative affordability within the luxury tier, and an economic and livability profile that supports sustained activity rather than short-lived momentum.
St. Louis remains the value-forward contender at No. 2
St. Louis continues to perform like a “substance-over-flash” luxury market. It is the type of metro that ranks well when buyers are weighing total lifestyle value: housing cost relative to local wages, manageable commuting, and steady economic footing. In periods where uncertainty pushes buyers to be more deliberate, this kind of market can consistently score near the top.
Similar to Detroit, St. Louis offers one of the most accessible entry points to the luxury market among major U.S. metros. The 90th percentile listing price in the St. Louis metro sits near $628,000, well below the national luxury threshold of roughly $1.19 million. That relative affordability continues to support active demand. Homes priced at the 90th percentile are spending a median of 73 days on the market as of December 2025, nearly two weeks faster than a year ago and meaningfully below the national 90th percentile median of 88 days. These dynamics point to a luxury market that remains functional and liquid.
Spotlight: Big mover – San Diego rises to No. 3
The San Diego-Chula Vista-Carlsbad metro’s move higher in this quarter’s rankings reflects a luxury market that is becoming more competitive rather than more speculative. While San Diego remains one of the most expensive metros in the rankings, recent pricing and inventory dynamics have improved its overall balance, helping it stand out among high-cost coastal peers.
The starting point for luxury in the San Diego metro currently sits just under $2.91 million at the 90th percentile, down nearly 3% from a year ago. That modest cooling has coincided with market turnover. Homes in the 90th percentile are spending a median of 77 days on the market, down year over year, signaling that demand remains engaged.
San Diego’s luxury market reflects a deeply normalized high-end landscape rather than a narrow, top-heavy segment confined to a small share of listings. More than 43% of active listings in the metro are priced above $1 million, underscoring how embedded luxury housing has become across the broader market rather than isolated at the very top. This depth allows activity to be distributed across a wide range of high-end properties, supporting steadier demand.
Recent pricing trends suggest that this normalization is helping the market adjust rather than stall. Declines across the upper price percentiles indicate sellers are recalibrating expectations to align with current buyer sensitivity, which has helped prevent listings from lingering and supported ongoing turnover. Instead of testing price ceilings, the luxury segment in San Diego appears to be moving toward a more balanced equilibrium.
San Diego’s rise in the rankings reflects a market where premium lifestyle appeal is now paired with improving affordability at the margin. For luxury buyers, that combination of coastal amenities, pricing recalibration, and sustained demand has made San Diego more competitive this quarter, even as national affordability pressures persist.
Salt Lake City holds its ground near the top
Salt Lake City’s position this quarter reflects a market that continues to score well on economic resilience and livability, even as affordability remains a constraint for some buyers. The metro’s luxury segment is showing signs of measured adjustment rather than stress, with pricing easing modestly at the top of the market and turnover holding relatively steady.
The entry point to luxury in Salt Lake City, defined by the 90th percentile, sits just under $1.2 million, down more than 4% from a year ago. That recalibration has helped keep demand engaged without triggering sharp pullbacks in activity. Million-dollar homes in the metro are spending a median of roughly 79 days on the market, little changed from a year ago, suggesting buyers remain active but deliberate.
Salt Lake City’s luxury market also operates at a manageable scale. While high-end housing represents a smaller share of total listings than in some coastal markets, the segment remains deep enough to support consistent activity without the extreme scarcity that can amplify volatility.
Salt Lake City’s ranking reflects a market where quality of life and employment fundamentals continue to offset affordability pressures. Rather than relying on rapid price growth, the metro’s luxury performance is supported by price discipline, steady demand, and a livability profile that continues to attract buyers even in a more selective environment.
Santa Barbara climbs into the top 5
Santa Maria-Santa Barbara is the reminder that true luxury destinations can remain competitive even with a very high price point. The differentiator is that top-tier buyers in these markets often value scarcity, lifestyle, and amenities, which can keep demand durable. When those strengths outweigh the headwinds from price and risk, these markets can climb quickly.
The rest of the top 10: steady performers, different profiles
- Charlottesville (No. 6) remains a high-quality, smaller-market luxury story, but it gave back ground as other metros improved faster.
- Portland, ME (No. 7) continues to look like a lifestyle-forward market with durability, especially when broader buyers prioritize quality of life.
- Bridgeport (No. 8) surged, reflecting the strength of demand and economic proximity benefits in the New York City orbit.
- Minneapolis (No. 9) is still fundamentally strong, but it slipped as affordability and relative competitiveness became more important in this quarter’s ordering.
- Prescott (No. 10) made the largest jump into the top 10, consistent with a renewed tilt toward smaller lifestyle metros that can deliver perceived value in the luxury tier.
Methodology
The ranking evaluates the 30 most populous core-based statistical areas, as measured by the U.S. Census Bureau and defined by March 2020 delineation standards, plus the 30 markets with the highest concentration of homes listed for more than $1 million for eight indicators across two broad categories: real estate market (60%) and economic health and quality of life (40%). Each market is ranked on a scale of 0 to 100 according to the category indicators, and the overall index is based on the weighted sum of these rankings. The real estate market category indicators are real estate demand (15%), based on average page views per property; real estate supply (15%), based on median days on the market for real estate listings; median listing price trend (10%), based on annual price growth over the quarter; property taxes (10%); and climate risk to properties (10%). The economic and quality of life category indicators are unemployment (5%); wages (5%); regional price parities (5%); the share of foreign born (5%); small businesses (5%); amenities (10%), measured as the average number of stores per specific “everyday splurge” category (coffee, upscale/specialty grocery, home improvement, fitness) per capita in an area; and commute time (5%).
