The eight priciest US homes each sold for at least US$100 million in 2021 as cheap money piled into fixed assets
- At least 40 homes sold for more than US$50 million each in the US last year, a growth of 35 per cent from 2020, according to the appraiser Miller Samuel
- New York still topped the list for the number of sales over US$50 million, with 13; Florida had 11.
In 2021, at least 40 residential properties sold for more than US$50 million in the US, according to data compiled by the appraiser Miller Samuel.
That’s about a 35 per cent increase over 2020, which was also a record year. “The surge in this tier is unprecedented,” says Jonathan Miller, the company’s president and chief executive officer. “We’ve never seen this kind of growth.”
Fuelled by a booming stock market, low interest rates, and a pandemic-era’s heightened emphasis on home life, prices for luxury houses have risen to stratospheric heights across the country.
“It’s a national phenomenon,” says Miller. “Not enough words have been written on the impact of low rates, even on the über-wealthy. And one big takeaway in housing is: The lower the rates, the higher the prices. And this is that phenomenon on steroids.”
The country’s eight most expensive homes, according to Miller Samuel’s data, each sold for US$100 million or more and are spread equally between the Los Angeles metro area, the New York metro area, Palm Beach in Florida and ranches in Montana.