The median sale price of a luxury home has surged in Boston in recent years, according to a new report from Redfin.

The median luxury home sale price is $2.7 million in Boston this year, a 46.6 percent increase from 2020, when it was $1.8 million. Boston ranks just outside the top 10 of the most expensive luxury home locations in the nation.

Detroit is the most affordable metro for high-end properties, where the median sale price of a luxury home was $753,851 in April, 44.1 percent less than the typical luxury home nationwide ($1.35 million).

“The Rust Belt’s relative affordability has preserved opportunities for luxury buyers that have all but disappeared in much of the country,” Redfin senior economist Sheharyar Bokhari said in a statement. “These metros haven’t seen as much explosive investor demand or speculative buying, which has helped keep prices grounded. Buyers can get historic charm, large lots and upscale finishes – often in walkable, tree-lined neighborhoods – for a small fraction of what a similar home would cost in cities like San Francisco or New York.”

There were 30 major metros where the median sale price for a luxury home was less than $1 million in 2020; in 2025, there are seven. Nationwide, the average luxury home price increased nearly 70 percent since 2020.

Luxury homes are defined as those estimated by Redfin to be in the top 5 percent of sale prices in their respective metro area, based on the prices of homes sold over a rolling 12-month period.