AP NEWS

Study: $2M home sales down most since 2010

May 1, 2019

The average sale price for luxury homes nationwide fell 1.6 percent to $1.55 million in the first quarter of 2019, according to Redfin, the first quarterly decline in three years.

Redfin tracks homes in the top 5 percent of sales transactions in more than 1,000 real estate markets nationally, excluding New York City.

Sales of houses priced above $2 million were down 16 percent from the first quarter of 2018, the biggest such drop since 2010 with Redfin citing reduced mortgage interest deductions as one factor.

Alex.Soule@scni.com; 203-842-2545; @casoulman