There is no doubt that magnificent examples of luxury real estate with a price tag of one million dollars or more can be found in each of the fifty states that make up this wonderful nation, from one end of the country to the other. However, despite the fact that there is no dearth of properties in the United States with high asking prices, there are a few locations that are characterized by an especially high level of luxury and are frequented by extremely wealthy people. In addition to their breathtaking natural beauty, these regions provide bustling entertainment and shopping districts, as well as fantastic economic prospects.
Are you curious to see which American cities topped our list? Continue reading for a list of what we believe to be some of the top destinations for purchasing luxury real estate, both as a sound investment and a wonderful place to live:
1. Manhattan, New York
New York City, which is widely regarded as the cultural and economic epicenter of the United States (and a significant portion of the Western world), has a great many things going for it, including an extremely limited real estate inventory, an endless supply of cultural and commercial opportunities, entertainment, fine dining, fashion, world-class accommodations, amenities, and white-glove service, amongst other advantages.
In particular, Park Avenue is well-known for the luxury condominiums and penthouses that it contains. These residences typically have views of the surrounding area, including Central Park and the rivers.
2. Beverly Hills, California
The phrase “lifestyles of the rich and famous” has become virtually synonymous with the zip code 90210, and simply the mention of that number conjures up images of huge homes, gorgeous boulevards, and fancy retail districts packed with famous actors and fashion icons. There is a wide variety of real estate available in Beverly Hills, from modern condos and villas to historic homes that date back to the early days of Hollywood’s Golden Age.
However, Beverly Hills is not the only part of the sunny Southern California region that is home to affluent neighborhoods. In point of fact, Elite Auctions has been responsible for the sale of a number of magnificent properties in the surrounding area, some of which include a modern estate in Diamond Bar and an authentic Spanish hacienda in Rancho Santa Fe.
3. East Hampton, New York
The Hamptons are often regarded as one of the most desirable places to spend the summer in all of the United States. During the warmer months, East Hampton in particular has become a popular destination for wealthy New Yorkers who are eager to get away from the city. This municipality on Long Island, which will have a median listing price for a property of $1.8 million in 2021, is a veritable treasure trove of magnificent mansions.
4. Palm Beach, Florida
A haven for wealthy retirees wishing to bask in the warm sun and enjoy 18 holes of golf at any of the numerous private country clubs in the area, Palm Beach has been established in the world of luxury real estate as a haven for wealthy retirees seeking to relocate to a beach location. This is the case with many other beach locales as well. This breathtaking stretch of land features practically perfect weather for almost the whole year, beaches with white sand, and a high concentration of elegant homes and other buildings. In late year 2020, it was anticipated that the average price of a home will be over $7 million.
Luxury real estate may also be found in nearby Fort Lauderdale, which is known as a hotspot for sailing, and in Boca Raton, which is known for its welcoming atmosphere toward families.
5. Washington, D.C.
Although Washington, DC may not appear to be the most opulent destination on our list due to its status as the nation’s capital, the seat of the federal government of the United States, and the home of the halls of power, the city does, in fact, provide a diverse selection of luxurious real estate options. In the year 2020, the median price of a single-family house in the Washington, DC metropolitan region surpassed $1 million.
There are also some breathtaking mansions in the metropolitan area that surrounds the city, such as in Potomac, Maryland.
6. Miami, Florida
Some of the priciest real estate in the United States may be found in the city of Miami, which is known for its high-end real estate. The condominium segment of this destination’s real estate market is particularly robust, which contributes to an increase in the price of single-family houses. In addition, because the city is rapidly developing into a major cultural and economic center, there is a growing demand among overseas investors to purchase property there.
Who wouldn’t want to live in a mansion that costs many millions of dollars when they have access to things like beaches and yachts, nightlife, fashion, eating, upmarket shopping, professional sports, and year-round pleasant weather?