Redfin Just Dropped a Bombshell About Luxury Real Estate

Redfin just dropped a stat that shook the luxury real estate world:

Only 7 major U.S. metro areas still have a median luxury home price under $1 million.

Five years ago? That number was 30.

So what happened?

In this episode of ALL IN Miami, I unpack:

• 📉 How affordability in the luxury market vanished (almost overnight)
• 🏙️ Which cities still make the cut—and why Miami isn’t on the list
• 💰 What this means for buyers with high standards but realistic budgets
• 🧠 How this data shift affects real estate decisions in 2025 and beyond

Whether you’re a buyer chasing value, an agent trying to stay sharp, or just obsessed with how fast this market’s changing—this one’s for you.

If you ever want to buy or sell a property anywhere in the world, our team would be honored to help get you to your next destination.

Until next time, stay curious, stay hungry, and as always…

stay ALL IN!

 

Amit Bhuta

COMPASS

ALL IN Miami Group

Licensed Real Estate Agent

 

(305) 439-3031 Mobile

amit.bhuta@compass.com

ALLinMiami.com