Little boxes
REAL ESTATE • Market Reports
The ultra-luxury real estate market saw broad and substantial growth in 2025, with 2261 properties trading hands above $10M — a 30% increase over last year, per the Compass year-end Ultra-Luxury report. The top 10 markets accounted for 71% of all sales, with Greater Los Angeles in the second slot, Orange County in 5th, and San Diego in 10th.
The full top 10:
Manhattan NY • 398 sales (30%)
Greater Los Angeles CA • 292 (54% YoY)
Palm Beach County FL • 193 (46%)
Miami-Dade FL • 173 (14%)
Orange County CA • 121 (13%)
Silicon Valley & Peninsula CA • 98 (1%)
The Hamptons NY • 93 (83%)
Southwest Florida FL • 85 (18%)
Aspen CO • 58 (41%)
San Diego CA • 66 (18%)
Among markets with at least 10 transactions, San Francisco was the 10th-fastest growing with 24 sales (+50% YoY), Carmel, Pebble Beach & the Monterey Peninsula was the 13th fastest-growing with 13 sales (+44%), and Santa Barbara & Montecito was 16th with 50 sales (+32%).
Some other emerging markets: Boston notched 20 $10M+ sales, almost 3x last year’s number. Marin County (CA) also almost tripled up with 17 sales, Greenwich (CT) notched 38 sales (124%) Jackson Hole tallied 33 sales (120%), Aspen 82 (41%), Greater Seattle 26 (53%), Lake Tahoe, Incline & Reno 34 (34%), and Scottsdale & Phoenix 13 (+30%).

