I'd say it's quality, amenities, sqft., (lot size in some cases), views, perks and upgrades have a lot to do with it; not price alone. I've sold homes over 1 million and I wouldn't consider them luxury, rather well located (1 block to the beach for example). I sold a 1.1 Million "fixer" this year in La Jolla. But, in the spirit of your question, in San Diego I selected 3 luxury home areas: La Jolla, Rancho Santa Fe & Coronado Island; I'd say you are spending as a minimum:

$2.7-$million in La Jolla Village (current most expensive: $22.5 M.).

$2-$3 million (min) Rancho Santa Fe (current most expensive: $$21.5 M.)

$2.5-$3 million (min) on Coronado ((current most expensive: $16.2M.)

However, most expensive in San Diego today: $49 million in Del Mar.

Larry and Sheila,

It is defined at the top 10% of the market, but not less than $ 500,000.  That is the industry standard definition.  A

$500,000 and up is luxury in my book. 

Here is $500,000 in most areas. However there are a couple of wealthy upscale towns that double that price easy for teh same home and then some rural areas that you would get twice the home for the same price. Head to teh seacoast or Lakes region and it could be 5 to 10 times that for the same home. 

Here in Louisville, I guess I would have to say in the $900K range or so. I guess I need to think about that a bit more, hmmmmmm... 

800,000 dollars

I guess I'd say $1.5 million.

But, it depends on the area.  Further up in the county, a million dollar home is really nice.  For other towns 1 million is average or a bit below average.

The term luxury as defined by the ILHM (Institute of Luxury Home Marketing) varies from market to market...I believe...the lowest number...which is the case in southeastern Wisconsin..is $500,000....a closet on either coast !

At present the qualifying sales price to earn  a  Certified Luxury Home Marketing Specialist(CLHMS) designation is $500K and higher.

to many variable... living on the water in Huntingon Beach is a luxury, golf coarse living to some is a luxury... hey just having a roof over your head can be a luxury

Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) in our area, the top 10% of the properties (for each town) is considered as a Luxury home. Some of them do cross million dollar mark.

I consider luxury in my market above $400,000 since the average sale price is around $160,000.

Here in Tucson, AZ our brokerage (Tierra Antigua Realty) considers anything above $600K as luxury.   Personally for me?  Anything above $500K, when the median home is selling for $170K.

Interesting question.  We have some very very nice homes $400,000 range.  I believe to answer your question I would go with $500,000 plus.  Mark

Typically at least $500,000 but what it offers counts far more than just the price.

I live in a $50,000 home which seems pretty luxurious to me but I think in my market it would probably be somewhere around 150 to 200.

$500,000 is the cut here.  That's about 2x the median sales price for most of the county.

In my area I would say around 400 to 500 K

i would say the luxury market would be in the top 10% or so, of price range of the market. as it is all relative... i ask of you, what brought the question on? do you like the luxury market?

Price range -2.5 to 15 mil toward town

                       1.5 to 5   mil in the country

avg 3/2 bath/1500 sf is now $1 mil, in SF it is 3 br, 1200 sf condo avg 1.2 mil+

30% above the value average of area. Some advocate a higher number if the area is to0 inclusive. In that case you would be looking at 80% above.

In a large gated community such as Avalon, with 300 million dollar homes are they all luxury...or just the ones above the community average?

The right answer depends on the data set to be used.

I would say 450

In our area, price has less to do with Luxury than the amenities.  Some Luxury homes can be purchased for less than $300,000.  Depends upon your definition of Luxury.

What I would consider luxury is at least $3M and up.   So many homes are priced $1M to $2M and they are just average or even unattractive.  A home that is luxury needs to be spacious, have a good amount of land and be a quality build with modern appeal no matter the price.  And at least one exceptional quality like a great view, waterfront or acreage.  Luxury means something special besides the price.

' Luxury' means out of my price range, Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) 

Interesting question. For me, I think of areas as luxury more than homes. But you've given me something to consider. I would say that our luxury homes would be over $2 million. 

in our town if you are over $300,000 you are living well. LOL  Interesting how much it can very. If you were to head into Phoenix then it will jump big time 

$2M - $3M+ 

In my area it's 1.6 million and up. Knockdowns are going for a million.

$900,000

Home prices over 1.5M are luxurious for the City of Corona.

Home prices over $900k are luxurious for the City of Eastvale.

Home prices over $2M are luxurious for the City of Chino Hills.

Home prices over 1M are luxurious for the City of Murrieta.

at least $1M - and in some neighborhoods in DC at least $1.5M or $2M

I'm in the same place as Thomas J. Nelson, Realtor and price doesn't equate to luxury around here, unless of course you breach the $5 million market.  Many million dollar homes need work, as it's the land, location, and views that keep property values sky high here, not necessarily the home itself.

I dont think that price is the determining factor but as a certain price its all luxury.  I've sold fixers at over $4 million and I small inexpensive homes that while I didn't consider luxurious - the first time homeowner was overjoyed opening the door with THEIR keys and relished the luxury of owning their own home - so I guess its all relative.

Tough question!!  It all boils down to ammenities and the finer touches and the particular couple of streets you're on.  You can get luxury in any price range, but the houses in my area that would be (and have been) on "Life Styles of the Rich and Famous" are in the low to double digit millions.

I saw a 7.5 million dollar home yesterday -- it was nice - very nice -- but hardly luxurious.   The definition of luxury is diffciult at best.  I'd say that market is considered anything at or above 2.0 million in our area.  

I would generally say over $700,000 on a home not on one of the lakes in the area, and over $1,000,000 for waterfronts

I am the past president of the Sedona Luxury Real Estate Professionals and our criteria is the top 10% of the market.  This figure will fluctuate based on market conditions.  Currently it is around $950,000 for SVVAR MLS. 

IN my area, I would say $400,000.

In my area, luxury homes begin in the $750,000 range. 

In Southern California, that answer isn't quite so cut and dry.  There are homes in the 7 figure range that some might not consider luxury in its offering...but definitely luxury in its geography.

For the most part $525,000 is the starting point for luxury in our area!

In our immediate area, Burbank, CA, luxury homes start right around $1M. About 10 miles south in Hollywood, luxury homes start right around $3M. So starting price definitely depends on the area :). 

I suppose the answer would be sujective.  I would consider anything between $450000 to 1 million and over to be considered Luxury?  It would definately depend on the area of the country I would bet.  Debbie

1m 

Luxury Villas

Luxury homes in Southwest Florida vary considerably according to location, size, vintage, condition, etc. In Naples, luxury homes start at about $850,000 if you can find one at that price. Those closer to the Gulf are $1m and up. In Cape Coral  $600,000 can buy you a large (3,500+ SF) luxurious home with Gulf Access. Of course, it all depends on what you define as a luxury home. For some folks what I've described are handyman specials waiting to be remodeled. Also, some buyers in our area purchase a perfectly sound luxury home only to tear it down and build what they want. Then there are the 1 percenters who buy luxury homes for investment purposes and hardly ever use them only to cash out when they get their desired return. What I'm saying Sheila and Larry is that your question is a very hard one to answer.   

My company puts that number at $750,000, but I think a million is closer to the definition of a luxury home in Sacramento.

I don't want to sound flippant but it is a tough line to define. I would think it is whatever someone can't afford to buy.

Great question. Luxury is a relative term and to some degree has lost its meaning. I have gotten away from trying to tie luxury real estate to price and instead focus on luxury in terms of lifestyle and a home's amenities. The average price of a detached home in Oakville is just over $1-million. There are homes at $1.5 million that are truly luxurious in terms of fit and finish. They are typically in a newer area of town and on a smaller lot. Then there are homes in our higher-end communities that sell for up to $10-million+. In those areas you can also find a $1.5-million home, but they would be a teardown in that part of town. It is primarily land value. So in my market you cannot go on price alone because $1.5-million could get you two very different things depending on the community within the town. I couch it to some degree by running my "Fine Homes and Luxury Real Estate Report" that reports on homes in several price bands from $1-million to $10-million+.

In my area, $800,000 and up.

The luxury range would be over one million dollars in our area.

Entry level luxury 500,000

I agree with the CLHMS standard of "top ten per cent" in one's market area. There are subtle factors which can and should also be considered. A second home might be considered a luxury for a large percentage of buyers, as a vacation home is a discretionary purchase.  Waterfront homes tend to be generally at or near the top of the market in most areas. 

It is $1mln.+. The average price for a house here 600k.

Larry and Sheila - I would say that price is around $750k in my area, but it will depend on the actual neighborhood, and the amenities of the home.

I would have to say $750,00 and up in our area ....although there are some really nice ones in the $500-750 range!