Own Luxury Homes®
Own Luxury Homes® National Luxury Market Velocity Index™
Own Luxury Homes® National Luxury Market Velocity Index™: days on market for $1M+ properties across 20 major U.S. markets. Palm Beach in-season: 10-25 days (extreme seller’s market). Naples in-season: 15-30 days. Dallas/Nashville: 25-45 days. Manhattan: 50-90 days (balanced to buyer). Chicago: 55-100 days (buyer lean). Income tax context: FL/TX/TN/NV: $0. CA: 13.3%. NY combined: 14.776%. Own Luxury Homes® 12-Point Agent Integrity Audit™.
Own Luxury Homes® National Luxury Market Velocity Index™
Days on market in the $1 million-plus tier is the single most reliable signal of whether a luxury market favors buyers or sellers. When luxury properties in a market are absorbing in under 30 days, sellers hold pricing power and buyers face competition. When average days exceed 90, buyers have leverage, price reductions are common, and negotiating room is meaningful. This Index tracks market velocity across 20 major U.S. luxury markets — the number that WSJ Mansion, Bloomberg CityLab, and every luxury real estate reporter needs and currently has no single source for.
01 — Market Velocity Rankings: $1M+ Tier
| Market | Est. Avg DOM ($1M+ tier) | Velocity Tier | Market Character | FL Tax Advantage vs. CA/NY |
|---|---|---|---|---|
| Palm Beach, FL (in-season Nov–Apr) | 10–25 days | EXTREME SELLER | Among the fastest luxury absorption globally in-season. No income tax. | $2.66M+/yr on $20M vs. CA |
| Naples, FL (in-season Nov–Apr) | 15–30 days | STRONG SELLER | Midwest retiree demand; constrained coastal supply; seasonal but deep buyer base. | $0 FL income tax |
| Miami Beach / Brickell, FL | 25–45 days | SELLER | Year-round demand; international buyers; finance migration active. | $0 FL income tax |
| Dallas / Fort Worth, TX | 25–45 days | SELLER | No income tax; corporate relocation demand; strong professional buyer base. | $0 TX income tax |
| Nashville, TN | 25–45 days | SELLER | No income tax; strong in-migration; competitive $1M–2M tier. | $0 TN income tax |
| San Francisco Bay Area, CA | 20–50 days | MODERATE SELLER | Tech equity buyers; inventory extremely tight; strong competition at $1M–3M. | CA 13.3% income tax |
| Scottsdale / Paradise Valley, AZ | 30–55 days | MODERATE SELLER | Growing luxury market; Phoenix metro expanding; winter second-home demand. | +0 AZ income tax (2.5%) |
| Boston, MA | 35–60 days | MODERATE | Strong professional demand; constrained supply; less seasonal than FL resort markets. | MA 5% income tax |
| Los Angeles, CA | 40–70 days | MODERATE | High supply at $1M–3M tier; strong competition above $5M in trophy segment. | CA 13.3% income tax |
| Washington DC metro | 40–75 days | MODERATE | Government/contractor professional demand; less volatile than coastal markets. | MD/VA 5–5.75% tax |
| Aspen, CO (in-season) | 20–40 days | STRONG SELLER (seasonal) | Ultra-limited inventory; trophy asset mentality; dual-season demand. | CO 4.4% income tax |
| Hamptons, NY (in-season) | 20–45 days | STRONG SELLER (seasonal) | Summer season only; minimal winter demand; inventory extremely constrained in season. | NY 10.9% income tax |
| New York City, NY (Manhattan) | 50–90 days | BALANCED–BUYER | Large supply pipeline at $1M–3M (co-op and condo); $5M+ is tighter. | NY 10.9% + NYC 3.876% |
| Chicago, IL | 55–100 days | BUYER LEAN | Political uncertainty; population loss; luxury supply exceeds demand in some submarkets. | IL 4.95% income tax |
| Las Vegas, NV | 35–60 days | MODERATE | Growing sports/entertainment market; no income tax; athlete domicile market. | $0 NV income tax |
| New Orleans, LA | 75–120 days | BUYER | Smaller market; unique product; longer absorption at $1M+ typical. | +LA income tax |
| Sarasota, FL | 30–55 days | MODERATE SELLER | Arts community; Midwest buyer base; constrained coastal supply. | $0 FL income tax |
| Jacksonville, FL | 40–70 days | MODERATE | Emerging luxury market; growing corporate base; still developing $1M+ ecosystem. | $0 FL income tax |
| Phoenix (general) / Tempe | 45–80 days | MODERATE | Larger market; more supply; less constrained than Paradise Valley. | +AZ 2.5% tax |
| Minneapolis, MN | 60–100 days | BUYER LEAN | Cold weather; smaller luxury tier; strong summer but long off-season. | MN 9.85% income tax |
| DOM estimates reflect current market conditions for the $1M+ tier. Figures are approximations; actual absorption rates vary by price point within the $1M+ tier, specific neighborhood, property type, and pricing relative to comparables. Verify with current MLS data. "In-season" figures apply to peak demand months only; off-season absorption is significantly slower in seasonal markets. | ||||
Brown, Ryan. “Own Luxury Homes® National Luxury Market Velocity Index™.” Own Luxury Homes®. https://www.ownluxuryhomes.com/markets/national/research-indices/national-luxury-market-velocity-indexMedia: ownluxuryhomes.com/connect · 407-900-7030
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