The U.S. luxury home market is expected to grow nearly 5% over the next five years, according to a report from the real estate firm CBRE.
That would mark the largest gain in a decade, and puts a spotlight on a number of high-profile companies that are expected to dominate the market in the coming years.
The average price for a single-family home in Phoenix in the third quarter of 2020 was $1.78 million, according the Real Estate Institute of Arizona.
The average price in Montana was $2.02 million.
But those prices represent a tiny fraction of the overall market, according CBRE analyst Jeff Zirkel.
The real estate industry is experiencing an unprecedented wave of new buyers in recent years.
In the first three months of 2018, home sales increased 3% compared to the same period a year ago, according Realtors Insights.
That’s up from 2.2% in the same three months last year.
But home sales were still lower than in the first quarter of 2018.
And sales of new homes fell 4.7% from a year earlier, according Zirlles findings.
The numbers for the top 50 luxury home solutions companies in 2018 are as follows:1.
Westlake Homes (Westlake, Arizona)2.
Kite House Homes (Garden City, Arizona, and Salt Lake City, Utah)3.
Luxury Homes (New York)4.
Lighthouse Homes (Dallas)5.
Mascot Homes (Atlanta)6.
Home Depot Homes (Cleveland, Ohio)7.
The Residences Group (Boston)8.
Blythe Homes (Chicago)9.
Bali Luxury Residences (Bali)11.
Hinsdale Homes (Fort Lauderdale, Florida)12.
Mariposa Residences & Condos (San Diego)13.
Westport Homes (Los Angeles)14.
S&M Residences/ Condos(San Francisco)15.
Lusimano Residences(Portland, Oregon)16.
Vero Homes (Salt Lake City)17.
Lululemon Athletica (San Francisco, California)18.
Luxe Homes (Miami, Florida)*19.
Vans (San Jose, California)*20.
Leventhal Homes (Portland, Maine)*21.
Luxa Homes (Phoenix, Arizona)*22.
Lumberjacks (Los Altos Hills, California, and Mesa, Arizona*)23.
HomeRentals (Newark, New Jersey)*24.
Rodeo Homes (Santa Monica, California*)25.
Vail Resorts (Las Vegas, Nevada)26.
Fandango Homes (Las Palmas, California*27.
RealtyTrac (Las Angeles, California and San Francisco, Calif.)*28.
HomeGrown Homes (Seattle)*29.
HKS Homes (Jacksonville, Florida*30.
HSL Homes (Charlotte, North Carolina)*31.
Cushman & Wakefield (Philadelphia)*33.
HomeZones (New Orleans)*34.
Lush Homes (San Antonio)*35.
Homespring (Fort Myers, Florida*)39.
HomeAdvisor (New Bedford, Massachusetts)*40.
Kultura (St. Louis)*41.
Realtors.com.au (Sydney, Australia)*42.
Apartment List (Melbourne)*43.
A/C Group (Melburn, Australia*44.
Apartments.com Inc. (Brisbane, Australia)45.
Avanti (Melbourn, Australia*)46.
Aptiv (Melbo, Tasmania)*48.
Apotex (Bathurst, New South Wales)*49.
Home.com, Inc. & Co. (Las Casas, Mexico)*50.
Apedia.com LLC (Portland)Source: Realtores Insights