According to Realtor.com, about 19.3% of homes listed for sale saw a price cut in August, easing some pressure off buyers plagued by high mortgage rates. The Fed cut rates last week and is expected to lower them further in the coming months, which should eventually push down mortgage rates and increase homebuyers’ purchasing power.
Luxury real estate, however, is a different ball game.
Despite a global dip in transactions, the high-end real-estate markets in Manhattan, Los Angeles, and especially Palm Beach continue to be robust, according to a September Knight Frank report analyzing sales of $10-million-and-up homes.
Perhaps unsurprising, then, that New York is home to the third-most expensive home on this list: an eight-bedroom duplex penthouse in Central Park Tower.
Casa Encantada, an 8.4-acre deco-style mansion in LA’s Bel Air neighborhood, is the second-priciest property.
Taking the top spot for the most expensive home, though, is a 1989-built sprawling beachside residence in Florida.
To compile this list, Business Insider scoured Zillow listings. The properties below were the most expensive in their states as of September 20, 2024. When listing photos were unavailable, photos of a nearby city or landmark were used.
Here’s a look at the priciest homes for sale in each state.
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