The front door of the St. Regis Residences luxury condominium tower is seen in Boston's Seaport District in May 2026. Photo by James Sanna | Banker & Tradesman Staff

Luxury homes are seeing prices increase at a greater rate than non-luxury homes across the country, according to a new report from Redfin. The Boston luxury market is showing similar trends.

In Greater Boston, the median-priced luxury home sat at $2.8 million in May, a 7.4 percent increase year-over-year. The median non-luxury home is selling for $750,000, a 2.1 percent increase.

Across Massachusetts, the median luxury home is selling for $2.5 million, a 6.6 percent increase year-over-year. According to The Warren Group, the publisher of Banker & Tradesman, the median sale price of a single-family home in May was $665,000, essentially unchanged from May 2025 when it was $665,250.

The median U.S. luxury home sale price rose by 4.7 percent year over year to $1.37 million compared to the 1.5 percent gain in non-luxury home sales. The median non-luxury home in the United States sold for $377,477.

New listings of U.S. luxury homes increased 1 percent year over year in May. The non-luxury market saw a 0.4 percent in new listings.

But in Boston, the inventory is limited. The Greater Boston non-luxury market saw a 13.5 increase in new listings, with 5,225 new listings hitting the market in May 2026. The region’s luxury market saw a 4.3 percent decline in new listings, with just 1,414.

In Massachusetts, the state saw a similar relationship. Non-luxury new listings increased by 11,7 percent to 8,150 new listings in May. Luxury new listings declined by 2.4 percent with just 2,170 new listings.