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The Boston-area luxury home market ended 2025 sluggishly, according to a new report from Redfin.

Greater Boston saw a drop in pending home sales, homes sold and new listings in December, all on a year-over-year basis. Each data point saw a 1.8 percent, a 4.3 percent, and a 4.2 percent drop, respectively, but those drops put the metro area in the middle of the pack, nationally.

Redfin economists defined the luxury market as the single-family houses and condominiums estimated to be in the top 5 percent of all sales by price, based on the price of homes sold in a rolling 12-month period.

While sales activity slowed down, price appreciation took a large step upwards. The median price for a home in the Boston metro area was $2.83 million, a 11.4 percent increase year-over-year. In Boston, the typical luxury home went under contract in 45 days, a two-day increase year-on-year.

That price appreciation put Boston at sixth place among the 50 biggest metro areas in the nation by percentage increase.

It comes after prior analyses by Redfin and Realtor.com economists found the pace of sales and the median sale price rose by mid-single-digit percentages this fall. The luxury condominium market in the urban core is also experiencing widely-reported softness amid a pulse of new inventory from several towers downtown and in the Seaport District.

Across the United States, Redfin reported pending sales of luxury homes fell 1.1 percent year over year in December, the biggest decline in six months.

The typical luxury home in the United States that went under contract in December took 64 days on average, up five days from a year earlier and the slowest December pace since 2020.