St. Louis has recently made its mark as a formidable player in the luxury real estate market, securing a place among the top five cities in the United States. This distinction is particularly impressive considering the overall U.S. real estate market slowdown.
Portland, Maine, was the most popular metro area for luxury buyers in the third quarter of 2023, ranking No. 1. It was up from No. 6 in the last quarter. Other cities in the top 10 include Boulder, Colorado, which slipped from the No. 1 to No. 2; San Diego and Carlsbad, California, tied for the third slot. The Providence-Warwick, Rhode Island, region took the No. 4 spot on the index, with St. Louis, Missouri, ranked fifth. In California, the metro areas around San Jose and Los Angeles were in the sixth and seventh spots, respectively, followed by Wilmington, North Carolina, at No. 8; the Detroit, Warren, and Dearborn area in Michigan at No. 9; and the Dallas metro region in 10th position.
Despite national challenges, St. Louis is a resilient luxury real estate market. The city’s impressive ranking reflects its enduring appeal and investment potential, drawing attention from upscale property investors. The city’s allure can be attributed to various factors, such as its charming neighborhoods and vibrant cultural scene. St. Louis has proven to be an attractive destination for those looking to invest in luxury real estate.
**Data from The Wall Street Journal/Realtor.com Emerging Housing Markets Index. Each quarter, the luxury segment of the index pulls housing data for the top 10% of the 60 metropolitan areas in the ranking, which considers information on the real estate market and other economic measures, analyzing several indicators to rank the most active luxury housing markets.