This Haute Living market report summarizes luxury real estate activity across 15 major U.S. cities for May 2026 — including median prices in the $2M+ tier, inventory shifts, days on market, and buyer/seller conditions. May 2026 luxury market intelligence across 15 premier U.S. cities — pricing, inventory, days-on-market, and buyer/seller conditions for the $2M+ segment. San Francisco pending in 13 days, Naples holds 743 luxury listings, Palm Beach median climbs to $2.725M. Sourced from Redfin and Zillow Research.
| Value | Measure |
|---|---|
| 15 | Markets Tracked |
| 1,557+ | Active $2M+ Listings (Sampled) |
| $2.725M | Palm Beach Median (+14.3% YoY) |
| 13 days | San Francisco Pending Speed |
Source: Redfin City Pages + Zillow Research CSVs + Zillow Market Overview
Executive Summary
The May 2026 luxury market tells two stories simultaneously. San Francisco is moving at a sprint — homes pending in 13 days, 59% of sales closing above list, and a median sale price up 19% year-over-year — while Naples holds 743 active $2M+ listings with prices softening 9.6% annually, offering the deepest buyer inventory of any market we track.
Palm Beach continues its ascent, with a median sale price of $2,725,000 — up 14.3% year-over-year — affirming that South Florida's most coveted island address remains in structural demand. Miami holds 571 active $2M+ listings, providing buyers genuine selection while still commanding a luxury sample median of $5,367,500.
The Hamptons posts the highest luxury sample median in the report at $4,795,000 against just 34 active $2M+ listings, with 139 days to pending reflecting the deliberate pace of ultra-premium vacation buying rather than weakness. Aspen's structural scarcity persists: only 14 new listings, 15 sales, and a Zillow typical value of $3,535,613 (+5.9% YoY) prove this is a relationship-driven market, not an MLS-driven one.
Among California markets, Santa Barbara stands out with 159 active luxury listings clearing in just 22 days to pending — brisk velocity despite a softening headline price. Los Angeles posts a +2.5% month-over-month price recovery and 33.2% of city sales closing above list, signaling renewed urgency in the $1M–$3M tier even as YoY remains negative.
For buyers and sellers navigating this environment, the difference between opportunity and overpayment lies in granular, city-level intelligence. All May 2026 figures reflect Redfin city pages, Redfin $2M+ luxury filters, and Zillow Research CSVs as of month-end.
Luxury Real Estate by Market
Miami, FL
| Sample Luxury Median List ($2M+ Houses) | $5.37M |
|---|---|
| Year over year | Broad market median +2.9% YoY → $674,000 |
| Active $2M+ Listings | 571 · +0.7% MoM |
| Price Range | $2.395M – $19.8M |
| Metro Luxury ZHVI | $900,422 · −1.7% YoY |
| City DOM | 107 days |
| Days to Pending | 59 days |
| Sale-to-List Ratio | 0.963 |
| Metro Inventory | 6,228 for-sale |
| Market condition | Neutral — Deep Luxury Selection |
Miami's luxury tier remains deep with 571 active $2M+ listings — offering discerning buyers genuine selection, while a luxury sample median of $5,367,500 confirms elite demand holds firm at the top.
Palm Beach, FL
| Sample Luxury Median List ($2M+ Houses) | $2.27M |
|---|---|
| Year over year | City median +14.3% YoY → $2,725,000 |
| Active $2M+ Listings | 363 |
| New Listings | 60 this period |
| ZHVI Typical Value | $2,070,045 · −1.3% YoY |
| City DOM | 118 days |
| Days to Pending | 104 days |
| MoM Price Change | +0.9% |
| Metro Zillow Data | Rolls into Miami MSA |
| Market condition | Strongest Price Growth in Report |
Palm Beach's 14.3% year-over-year price appreciation signals sustained demand on Florida's most coveted island — part of the Miami-Fort Lauderdale MSA with broader South Florida tailwinds.
Naples, FL
| Sample Luxury Median List ($2M+ Houses) | $3.35M |
|---|---|
| Year over year | Broad market median −9.6% YoY → $1,175,000 |
| Active $2M+ Listings | 743 ← Most Inventory |
| MoM Change | −3.3% |
| Price Range | $2.0M – $10.75M |
| Metro Luxury ZHVI | $1,339,719 |
| ZHVI Typical Value | $551,996 · −5.8% YoY |
| City DOM | 81 days |
| Days to Pending | 64 days |
| Market condition | Buyer's Market — Deepest Luxury Supply |
Naples leads all tracked markets with 743 active luxury listings — the deepest buyer inventory in the dataset. A buyer's market with room to negotiate, particularly below $5M.
Hamptons, NY
| Sample Luxury Median List ($2M+ Houses) | $4.795M |
|---|---|
| Year over year | Median sale price $3,450,000 (low-volume series) |
| Active $2M+ Listings | 34 |
| MoM Change | Stable |
| Price Range | $2.5M – $7.7M |
| ZHVI Typical Value | $1,986,818 · −2.6% YoY |
| City DOM | 54 days |
| Days to Pending | 139 days |
| Homes Sold | 3 (ultra-low volume) |
| Market condition | Highest Luxury Median in Report |
The Hamptons operates on its own clock. 139 days to pending reflects deliberate, high-consideration purchasing — not weakness. When buyers commit, they commit at a premium.
Aspen, CO
| Median Sale Price (City) | $3.37M |
|---|---|
| Year over year | City median +7.1% YoY → $3,372,500 |
| For-Sale Inventory | 84 active listings |
| New Listings | 14 this period |
| Homes Sold | 15 (extreme scarcity) |
| ZHVI Typical Value | $3,535,613 · +5.9% YoY |
| City DOM | 124 days |
| MoM Price Change | −0.8% |
| Metro Zillow Data | Not published |
| Market condition | Ultra-Luxury Scarcity Market |
Aspen's median home value of $3,535,613 (up 5.9% YoY) reflects structural scarcity. With only 14 new listings and 15 sales, this market moves on relationships, not listings.
San Francisco, CA
| Broad Market Median Sale Price | $1.69M |
|---|---|
| Year over year | Broad market median +19.0% YoY → $1,687,500 |
| Days to Pending | 13 ← Fastest |
| % Sales Over List | 59% ← Highest |
| Sale-to-List Ratio | 1.029 |
| ZHVI Typical Value | $1,356,662 · +5.0% YoY |
| Metro Luxury ZHVI | $1,987,890 · −0.3% YoY |
| For-Sale Inventory | 880 units |
| Market condition | Extreme Seller's Market |
The fastest market in this report: 13-day average to pending, 59% of sales closing above list price. SF's luxury tier is experiencing a demand surge with multi-offer conditions standard.
Santa Barbara, CA
| Sample Luxury Median List ($2M+ Houses) | $3.35M |
|---|---|
| Year over year | Broad market median −9.6% YoY → $2,017,500 |
| Active $2M+ Listings | 159 · +0.6% MoM |
| Price Range | $2.0M – $12.5M |
| Days to Pending | 22 days ← Fast |
| ZHVI Typical Value | $1,834,095 · +1.5% YoY |
| Metro Luxury ZHVI | $2,280,283 |
| % Sales Over List | 17.1% |
| Market condition | Fast-Moving Luxury Corridor |
Santa Barbara's 22-day pending average and 159 active luxury listings make it one of California's most active luxury corridors — brisk velocity despite a softening headline price.
Los Angeles, CA
| Broad Market Median Sale Price | $1.03M |
|---|---|
| Year over year | Broad market median −5.5% YoY → $1,025,000 |
| MoM Price Change | +2.5% |
| Days to Pending | 35 days |
| % Sales Over List | 33.2% |
| Sale-to-List Ratio | 0.989 |
| ZHVI Typical Value | $952,183 · −1.4% YoY |
| Metro Luxury ZHVI | $1,677,326 · +0.5% YoY |
| For-Sale Inventory | 7,033 |
| Market condition | Recovering — Buyer Urgency Returning |
Despite the headline YoY softness, LA's +2.5% MoM price recovery and 33.2% above-list transaction rate signal renewed buyer urgency in the $1M–$3M tier.
New York, NY
| Broad Market Median Sale Price | $0.87M |
|---|---|
| Year over year | Broad market median +5.3% YoY → $868,750 |
| Days to Pending | 79 days |
| % Sales Over List | 32.2% |
| Sale-to-List Ratio | 0.983 |
| ZHVI Typical Value | $812,861 · +4.5% YoY |
| Metro Luxury ZHVI | $1,207,029 · +4.6% YoY |
| For-Sale Inventory | 14,723 |
| New Listings | 3,167 |
| Market condition | Seller's Market — Rising Luxury Values |
Manhattan's luxury market is classified Very Hot with the metro luxury ZHVI up 4.6% YoY. With 14,723 units for sale citywide, selection is ample — but strong buyers move fast.
Dallas, TX
| Broad Market Median Sale Price | $0.50M |
|---|---|
| Year over year | Broad market median +14.7% YoY → $499,000 |
| Days to Pending | 41 days |
| % Sales Over List | 12.2% |
| Sale-to-List Ratio | 0.973 |
| ZHVI Typical Value | $309,421 · −3.6% YoY |
| Metro Luxury ZHVI | $621,467 · −3.1% YoY |
| For-Sale Inventory | 4,689 |
| Price Drop Rate | 31.6% |
| Market condition | Two-Speed: Hot Broad / Soft Luxury |
Dallas leads Texas in transaction velocity with a 41-day pending average and 14.7% median price growth YoY — a Hot market offering strong value entry for luxury buyers targeting the $2M–$5M tier.
Houston, TX
| Sample Luxury Median List ($2M+ Houses) | $3.43M |
|---|---|
| Year over year | Broad market median −2.8% YoY → $345,000 |
| Active $2M+ Listings | 233 · −0.9% MoM |
| Price Range | $2.0M – $10.75M |
| Days to Pending | 46 days |
| ZHVI Typical Value | $264,336 · −2.9% YoY |
| Metro Luxury ZHVI | $525,983 |
| % Sales Over List | 12.0% |
| Market condition | Stable Upper-Tier · Energy & International Demand |
Houston's 233 active luxury listings and $3,425,000 sample median signal a healthy upper-tier market despite broad softness. Energy sector demand and international buyer interest keep the $2M+ tier moving.
Atlanta, GA
| Broad Market Median Sale Price | $0.44M |
|---|---|
| Year over year | Broad market median −3.3% YoY → $440,000 |
| Days to Pending | 61 days |
| % Sales Over List | 14.8% |
| Sale-to-List Ratio | 0.979 |
| ZHVI Typical Value | $385,599 · −3.8% YoY |
| Metro Luxury ZHVI | $636,216 · −1.2% YoY |
| Price Drop Rate | 29.5% |
| Market condition | Softening — Corporate Relocation Tailwind |
Atlanta's market is softening modestly across both price and values, yet remains a Warm market with 14.8% above-list closings. The luxury tier benefits from continued corporate relocation demand.
Las Vegas, NV
| Broad Market Median Sale Price | $0.45M |
|---|---|
| Year over year | Broad market median −0.4% YoY → $448,000 |
| Days to Pending | 44 days |
| % Sales Over List | 16.7% |
| Sale-to-List Ratio | 0.985 |
| ZHVI Typical Value | $426,583 · −2.7% YoY |
| Metro Luxury ZHVI | $628,202 · −1.8% YoY |
| For-Sale Inventory | 8,252 |
| Market condition | Accessible Pricing · California-Exodus Demand |
Las Vegas offers one of the largest for-sale inventory pools tracked (8,252 units) at still-accessible price points. The luxury corridor in Henderson and Summerlin continues to attract California exodus buyers.
Maui, HI
| Broad Market Median Sale Price | $1.02M |
|---|---|
| Year over year | Broad market median +6.4% YoY → $1,021,000 |
| For-Sale Inventory | 63 active listings |
| New Listings | 12 this period |
| Homes Sold | 15 (limited volume) |
| City DOM | 157 days ← Slowest |
| MoM Price Change | +2.1% |
| ZHVI Typical Value | $1,035,498 · −4.7% YoY |
| Metro Luxury ZHVI | $1,701,252 |
| Market condition | Buyer's Market — Post-Wildfire Recalibration |
Maui's 157-day average and ZHVI softening reflect post-wildfire market recalibration. However, the metro luxury ZHVI of $1,701,252 and +6.4% YoY median growth confirm enduring island premium.
Honolulu, HI
| Broad Market Median Sale Price | $0.61M |
|---|---|
| Year over year | Broad market median +7.1% YoY → $605,000 |
| Days to Pending | 56 days |
| % Sales Over List | 12.1% |
| Sale-to-List Ratio | 0.973 |
| ZHVI Typical Value | $768,465 · +0.3% YoY |
| Metro Luxury ZHVI | $1,394,227 · +1.1% YoY |
| For-Sale Inventory | 2,201 |
| Market condition | Balanced · Stable Luxury Condo Demand |
Honolulu's metro luxury ZHVI of $1,394,227 (+1.1% YoY) and 56-day pending timeline reflect a stable Warm market. Luxury condos in Kakaako and Ala Moana remain the primary $2M+ driver.
Five Signals
San Francisco: The Fastest Market in the Report
13 days to pending, 59% of sales closing above list, and a sale-to-list ratio of 1.029 confirm multi-offer conditions are standard. Broad-market median up 19.0% YoY to $1,687,500 — but the metro luxury ZHVI is technically down 0.3%, meaning the demand surge concentrates below the ultra-luxury band. The $3M–$5M tier in San Francisco is the most fiercely competitive asset class tracked.
Palm Beach: Strongest Price Growth at the Top
A median sale price of $2,725,000 — up 14.3% YoY and 0.9% MoM — makes Palm Beach the strongest price-growth market in the report and reaffirms the island's structural demand. Even with ZHVI down 1.3% on the broader area, the headline closing-price story is unambiguous: serious buyers remain willing to pay for trophy Palm Beach addresses.
Naples: 743 Luxury Listings — The Deepest Buyer Pool
Naples leads every market tracked with 743 active $2M+ listings, a Cool classification, broad-market median down 9.6% YoY, and ZHVI down 5.8% YoY. The 3.3% MoM listing decline suggests sellers are beginning to pull back rather than chase pricing down further. Buyers below $5M have meaningful negotiating leverage.
Hamptons & Aspen: Non-Metro Scarcity Markets
The Hamptons posts the highest luxury sample median in the report ($4,795,000) against just 34 active $2M+ listings and 3 May closings — volume so low that any YoY median print is more artifact than signal. Aspen's 14 new listings, 15 sales, and ZHVI up 5.9% YoY tell the same scarcity story: pricing is set by relationships and off-market access, not MLS activity.
The California Spectrum: SF → Santa Barbara → LA
Three California cities, three velocities. San Francisco at 13-day pending and Very Hot. Santa Barbara at 22-day pending with 159 active luxury listings and Hot classification. Los Angeles at 35-day pending, Hot, with a +2.5% MoM price recovery and 33.2% of sales over list — signaling that urgency is returning to the $1M–$3M tier even as YoY remains negative.
Frequently Asked Questions
How many active luxury listings does Miami have in May 2026?
As of May 2026, Miami has 571 active luxury listings priced at $2 million or more — a 0.7% month-over-month increase. A sample of active listings shows a median list price of $5,367,500, ranging up to $19,800,000. The metro luxury Zillow Home Value Index stands at $900,422. Source: Redfin & Zillow Research, May 2026. Analysis: Haute Real Estate Network.
What is the median home price in Palm Beach, Florida in May 2026?
The median sale price in Palm Beach, Florida is $2,725,000 in May 2026, up 14.3% year-over-year and 0.9% month-over-month. Zillow's typical home value for the area is $2,070,045. Homes are averaging 118 days on market. Palm Beach is part of the Miami-Fort Lauderdale MSA. Source: Redfin & Zillow Research, May 2026. Analysis: Haute Real Estate Network.
Which U.S. luxury real estate market is moving fastest in May 2026?
San Francisco is the fastest luxury real estate market tracked in May 2026, with homes going pending in just 13 days on average. The city's median sale price reached $1,687,500 — up 19.0% year-over-year — and 59% of all sales are closing above list price, the highest rate of any market tracked. The sale-to-list ratio stands at 1.029, confirming multi-offer conditions. Source: Redfin & Zillow Research, May 2026.
Which luxury market has the most $2M+ homes for sale in May 2026?
Naples, Florida leads all tracked markets with 743 active luxury listings priced at $2 million or more as of May 2026 — though this represents a 3.3% month-over-month decline. A sample of active listings shows a median list price of $3,350,000, with the high end reaching $10,750,000. The market is classified as Cool, making it the most buyer-friendly luxury market in this report. Source: Redfin & Zillow Research, May 2026.
What is the Aspen, Colorado real estate market like in May 2026?
Aspen's median sale price is $3,372,500 in May 2026, up 7.1% year-over-year. Zillow's typical home value for Aspen is $3,535,613, up 5.9% year-over-year. With only 84 total homes for sale, 14 new listings, and 15 homes sold, this non-metro micro-market operates on extreme scarcity. Average days on market: 124. Pricing is determined by access and relationships, not MLS activity. Source: Redfin & Zillow Research, May 2026.
Is the Hamptons a buyer's or seller's market in May 2026?
The Hamptons (East Hampton, NY) is classified as a Neutral market in May 2026. With 34 active $2M+ luxury listings and a median sale price of $3,450,000, the market favors neither buyers nor sellers decisively. Homes average 139 days to pending, reflecting the deliberate pace of ultra-premium vacation home purchasing. The luxury listing sample shows a median list price of $4,795,000, ranging up to $7,700,000. Source: Redfin & Zillow Research, May 2026.
How does Santa Barbara compare to other California luxury markets in May 2026?
Santa Barbara stands out among California luxury markets in May 2026 with 159 active $2M+ listings going pending in just 22 days. The metro luxury ZHVI is $2,280,283 and the sample luxury median is $3,350,000 with listings reaching $12,500,000. The market is classified as Hot. Los Angeles is also Hot (35-day pending), while San Francisco is Very Hot at 13-day pending. Source: Redfin & Zillow Research, May 2026.
What are luxury real estate market conditions in Hawaii in May 2026?
Hawaii presents two distinct profiles in May 2026. Honolulu is a Warm market with a median sale price of $605,000 (up 7.1% YoY), a 56-day pending timeline, and a metro luxury ZHVI of $1,394,227. Maui is classified as Cool with a 157-day days-on-market average; its median sale price is $1,021,000 (up 6.4% YoY) and the metro luxury ZHVI is $1,701,252. Both markets reflect enduring island premium despite broader softness in home values. Source: Redfin & Zillow Research, May 2026.
How does Haute Real Estate Network compile this luxury market report?
This monthly report draws from three data blocks per market: general market statistics from Redfin city pages, Redfin's $2M+ luxury filtered listings for sample medians and active inventory, and Zillow Research's published CSVs for top-tier ZHVI, Heat Index, and metro pacing. All figures reflect the prior month's close — May 2026 data was finalized at month-end. We publish one consolidated report per month across 15 premier U.S. luxury markets.