California continues to dominate the nation’s luxury housing market, with three of the five most expensive major metros for high-end homes, a new study has shown.
Southern California alone secured two spots in the top five list, according to Redfin’s latest study based on luxury home sale prices in May 2026.
The study defined luxury homes as those that fell in the top 5% of their respective metro area based on the prices of homes that were sold over a rolling 12-month period.
San Francisco remained the most expensive luxury housing market in the U.S., with the typical luxury home selling for nearly $6.64 million and costs for such high-end residences climbing 6% YOY. This was nearly five times the typical national luxury home sale price of $1.37 million, according to Redfin.
Anaheim followed next, with the average luxury home prices reaching $5.27 million. Over the past year, luxury home prices increased 2.2%, according to Redfin.
Los Angeles secured the fourth rank, with the median luxury home sale price touching $4.51 million and home prices rising 4.9%.
The top five major metros with the most expensive luxury homes include:
San Francisco, CA
Anaheim, CA
Miami, FL
Los Angeles, CA
West Palm Beach, FL
Beyond the top five rankings, every California metro included in the study posted luxury home prices that were significantly higher than the national average luxury home price.
Other California cities with considerably higher luxury home prices were:
San Jose: $5.65 million
San Diego: $3.77 million
Oakland: $2.99 million
Riverside: $1.723 million
Sacramento: $1.721 million
The recent findings build on another recent analysis that showed homebuyers in California putting down some of the biggest down payments for homes, particularly in cities such as San Jose, San Francisco, and Anaheim, reflecting the state’s increasingly expensive housing market.
Luxury home prices have continued to increase as wealthy homebuyers are generally less burdened by mortgage rates and, instead, focus more on finding the right property, said Redfin’s Senior Economist Yingqi Xu.
Overall National Trends
The number of major metros where buyers can purchase a luxury home for under $1 million fell to five from eight last year, highlighting how much the high-end housing market has appreciated in recent years, according to the study.
Detroit emerged as the most affordable metro to buy a high-end home, with a median sale price for a luxury home reaching $719,252 in May. The sale price was less than the national average luxury home price.
The top five major metros with high-end homes less than $1 million include:
Detroit, MI: $719,252
Cleveland, OH: $833,228
Pittsburgh, PA: $904,202
Cincinnati, OH: $952,523
San Antonio, TX: $968,344
“For buyers looking to break into the luxury segment, those markets remain some of the few places where a seven-figure budget isn’t yet the price of admission,” Xu said.
The analysis is based on Redfin MLS data covering the three months ending May 31, 2026. The report examined 49 of the country’s most populous metro areas.