The luxury market in 2021

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Market Trends

The luxury market in 2021: sky-high prices, scandals and acquisitions

By Lillian Dickerson, Inman

The luxury housing market had a strong year in 2021. High-net-worth individuals continued to buy and sell homes at a quick pace as they and their businesses generally thrived amid the continued trend of working from home.

As a result, many luxury agents had outstanding years. The percentage of existing single-family home sales priced above $1 million also shot up this year, which helped agents in this market sector as home prices across the country more generally surged.

But 2021 also saw some significant shakeups in the luxury real estate world — a number of acquisitions changed the scene, and a major industry figure stepped out of the limelight. Tragedy also found the luxury market this year when a condo building in Miami collapsed and took numerous lives with it.

But luxury real estate wouldn't be the same without its penchant for scandal and big price tags, and 2021 delivered this as well.

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The 30 biggest luxury deals of 2021. The year closed out strong with a total of at least six properties sold above $120 million over the course of 2021. By comparison, 2020 only had one sale that topped the $100 million mark. This story was updated on December 16, 2021 with the entire year’s priciest real estate transactions.

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