Top 1% Luxury Real Estate Prices Vary Widely by Location

Ultraluxury real estate listings, representing the top 1% of the market, begin at a national median of $5.16 million, according to Realtor.com's August 2026 luxury report. This ultraluxury threshold is 4.3 times higher than the entry-level luxury price, which is defined as the most expensive 10% of listings and starts at a national median of $1.20 million. However, the disparity between entry-level luxury and ultraluxury pricing can be significantly more pronounced in certain geographic markets.

The Hilo-Kailua micropolitan area on the island of Hawaii, also known as the Big Island, exhibits the steepest gap between entry and ultra-luxury pricing in the country. In this region, which encompasses all of Hawaii County, entry-level luxury homes start at a median of $1,995,000. Ultraluxury properties, however, command prices that are 6.2 times higher than this entry point. Realtor.com senior economist Anthony Smith noted in the report that Hilo features relatively more affordable homes, while a larger concentration of high-end inventory is situated on the opposite coast, specifically in the Kamuela area along the South Kohala shoreline. This area is characterized by resort communities and a significant stock of oceanfront estates.

Within the Kamuela area, exclusive properties offering sunset ocean views and private beach access can easily exceed $20 million. The priciest listing currently on the market in this region is a 30-year-old, 7,844-square-foot estate situated on 1.38 acres on the Kohala Coast. This property is listed at $29 million and features a Lucky Bennett design, providing sweeping views of the ocean, fairway, and mountains. The estate also comes with a $1,472 monthly HOA fee and has been on the market for approximately 200 days, having recently seen a $3 million price reduction. Homes at the luxury level generally experience longer listing times due to a smaller pool of potential buyers.

Another market demonstrating significant luxury real estate activity is Reno, Nevada, which is bolstered by high prices in the Lake Tahoe area. For instance, a $21 million "cabin" in Incline Village, a community near Reno, offers six bedrooms and panoramic views of Lake Tahoe. This highlights how specific desirable locations within broader metropolitan areas can drive up the value and exclusivity of luxury properties, creating distinct market dynamics that differ from national averages.