{"id":41055,"date":"2026-08-12T15:16:49","date_gmt":"2026-08-12T10:16:49","guid":{"rendered":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=41055"},"modified":"2026-08-12T15:16:49","modified_gmt":"2026-08-12T10:16:49","slug":"california-luxury-home-prices-plunge-in-major-metros-as-sales-surge","status":"publish","type":"post","link":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=41055","title":{"rendered":"California luxury home prices plunge in major metros as sales surge"},"content":{"rendered":"<p><script>\r\n  atOptions = {\r\n    'key' : '644b717812d811d6a1c1fc5b6ccd6fa6',\r\n    'format' : 'iframe',\r\n    'height' : 90,\r\n    'width' : 728,\r\n    'params' : {}\r\n  };\r\n<\/script>\r\n<script src=\"https:\/\/www.highperformanceformat.com\/644b717812d811d6a1c1fc5b6ccd6fa6\/invoke.js\"><\/script>\r\n<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content%2Fuploads%2Fsites%2F2%2F2026%2F08%2F137124033.jpg?quality%3D90%26strip%3Dall\" \/><\/p>\n<div>\n<p>California\u2019s gold is going for dirt cheap. <\/p>\n<p>The state\u2019s luxury housing is getting more affordable \u2014 with <a href=\"https:\/\/nypost.com\/2026\/08\/10\/business\/study-shows-hottest-housing-zip-codes-for-us-cities-in-2026\/\">million-dollar homes flying off the market<\/a>.<\/p>\n<p>Four California metro areas landed among the 10 markets with the biggest year-over-year drops in luxury home prices in July, according to a new <a href=\"https:\/\/www.realtor.com\/research\/july-2026-luxury\" target=\"_blank\" rel=\"noopener\">Realtor.com report<\/a>.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The entry point for luxury housing dropped 2.7% to $1.25 million, marking the 29th straight month of annual declines. <span class=\"credit\">Getty Images\/iStockphoto<\/span><\/figcaption><\/figure>\n<p>San Francisco led the California declines, with the threshold to enter the top 10% of local listings falling 8.6% to about $2.49 million. San Diego dropped 7.3%, San Jose fell 6.9% and the Oxnard-Thousand Oaks-Ventura market slid 6%.<\/p>\n<p>And those California homes are moving fast.<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>Million-dollar properties in San Francisco sold in a median of just 37 days in July \u2014 the fastest pace among the luxury markets analyzed. San Jose wasn\u2019t far behind at 38 days.<\/p>\n<p>And San Jose remains the country\u2019s million-dollar listing capital, with nearly 62% of its active listings priced above $1 million.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>California\u2019s luxury homes are still moving fast. <span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cA lower luxury threshold doesn\u2019t necessarily mean demand has weakened,\u201d Realtor.com senior economist Anthony Smith said. \u201cIn some markets, declining thresholds reflect prices adjusting after rapid growth. In others, like San Francisco and San Jose, Calif., homes are selling so quickly that inventory is turning over faster than it\u2019s being replenished.\u201d<\/p>\n<p>Los Angeles is still one of America\u2019s priciest luxury markets, with the top 10% of listings starting at nearly $4 million. The market\u2019s luxury threshold nevertheless fell 3.8% from a year ago.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>An aerial drone view shows the coastline and beach houses in Malibu, California, at sunset. <span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Beachfront houses in Encinitas, CA. <span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Nationally, the entry point for luxury housing dropped 2.7% to $1.25 million, marking the 29th straight month of annual declines.<\/p>\n<p>Yet the wealthy are still buying. Luxury homes in the top 10% sold three days faster than they did a year ago, while ultra-luxury properties \u2014 the top 1% \u2014 sold five days faster.<\/p>\n<p>\u201cThe national luxury market continues to normalize, but the forces driving prices vary significantly from one market to another,\u201d Smith said.<\/p>\n<\/p><\/div>\n<script async=\"async\" data-cfasync=\"false\" src=\"https:\/\/pl30214220.effectivecpmnetwork.com\/9ab3d4df8a7e1a6171e16ddbf732cc19\/invoke.js\"><\/script>\r\n<div id=\"container-9ab3d4df8a7e1a6171e16ddbf732cc19\"><\/div>\r\n\n","protected":false},"excerpt":{"rendered":"<p>California\u2019s gold is going for dirt cheap. The state\u2019s luxury housing is getting more affordable \u2014 with million-dollar homes flying off the market. Four California metro areas landed among the 10 markets with the biggest year-over-year drops in luxury home prices in July, according to a new Realtor.com report. The entry point for luxury housing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":41056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/08\/137124033.jpg?quality=75&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-41055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-hub"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/41055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41055"}],"version-history":[{"count":0,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/41055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/media\/41056"}],"wp:attachment":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}