The median sale price of luxury U.S. homes rose 9% to $1.1 million in the third quarter of 2023 versus a year ago, as a growing share of high-end buyers dodged high mortgage rates by paying in cash, according to a new report from Redfin. The median sale price of non-luxury homes also climbed 3.3% to $340,000, the highest level of any third quarter on record.
Up from 35% last year, 43% of luxury home purchases are now paid for in cash.
