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Luxury Home Markets: Trends in Ohio, New Mexico, Vancouver

10/3/2025

23 5 Full Breakdown

Center

Luxury Home Listings

Summit County, Ohio, lists 10 homes over $2 million, averaging $2,717,300, 128.2 days on market.
New Mexico homes average 66 days on the market amid affordability pressures; sellers should price correctly.
In Vancouver, September sales rose; prices stay pressured as listings rise 14.4% year over year.
Portland's Great Circle floating home is listed at $1,199,000, with extensive river views.

Right

Home Price Declines

In September 2024, about 20% of United States homes posted price cuts.
Price cuts were largest for $350,000-$500,000 homes (21.6%); luxury properties over $1 million had 13.3% price cuts.
Active inventory rose 17% year-over-year to exceed 1 million, a fifth straight month, still 14% below pre-pandemic.
Median time on market reached 62 days; new listings declined 1.2% vs September 2024.

History

Historical Context

The U.S. housing market underwent a severe downturn in 2008 due to the subprime mortgage crisis, resulting in a 30% average decline in home prices and millions of foreclosures. This crisis echoed earlier predictions of a housing bubble burst, with economists warning of a prolonged recovery. Current trends, including a 20% price cut in September 2024, highlight ongoing affordability challenges in the housing sector.

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Luxury Home Listings

Summit County, Ohio, lists 10 homes over $2 million, averaging $2,717,300, 128.2 days on market.
New Mexico homes average 66 days on the market amid affordability pressures; sellers should price correctly.
In Vancouver, September sales rose; prices stay pressured as listings rise 14.4% year over year.
Portland's Great Circle floating home is listed at $1,199,000, with extensive river views.

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