5 Luxury Types of Properties You’ll Find in Today’s Real Estate Market

Luxury real estate can be a bit tricky to define since what counts as "luxury" can really depend on the market. For instance, what’s considered a luxury in a smaller Midwest town might not quite match up to the standards in a major West Coast city.

Generally speaking, though, the luxury market includes the top 5% to 10% of properties in a given area. In bigger metro areas, you're typically looking at listings that start around $1 million or more. But in cities like New York, that bar is higher—luxury properties there often start at about $4 million.

But no worries! No need to keep looking. We have a list of 5 luxury types of properties.

Modern mansions are the perfect definition of a luxury home, offering spacious layouts and the latest in home technology. On average, these homes are over 5,000 square feet, with open floor plans that make the space feel even larger.

According to Trulia,

78% of luxury buyers prioritize open-concept designs. Floor-to-ceiling windows are common, especially in cities like Miami, where 65% of luxury homes are designed for stunning views.

Smart home features are also a major selling point. A Coldwell Banker study found that 45% of luxury buyers look for homes with smart tech like climate control and security systems.

Energy-efficient upgrades like solar panels are increasingly popular, with Realtor.com reporting that 60% of luxury buyers want eco-friendly homes. Miami’s luxury market has grown by 20% in the past year, with homes regularly listed at $4 million or more.

Other cities like Los Angeles and New York also feature high-end properties, often starting at $10 million. Modern mansions combine style, space, and technology, offering a truly luxurious lifestyle.

Luxury condos are an ideal choice for both urban professionals and retirees. For busy professionals, these condos offer a low-maintenance lifestyle in prime urban locations, with amenities like fitness centers, concierge services, and close access to work, entertainment, and dining. Retirees.

On the other hand, appreciate the convenience and security of condo living, as well as the opportunity to downsize without sacrificing comfort or style.

Fontana-on-Geneva Lake is an excellent place to find luxury but affordable condos. Known for its serene lakeside setting and proximity to the vibrant Lake Geneva area.

Fontana offers the perfect balance of peaceful living and easy access to urban amenities. Whether you're looking for a weekend retreat or a year-round home, Fontana's luxury condos are ideal for those seeking both tranquility and convenience.

Waterfront properties offer a unique combination of beauty, tranquility, and luxury living. These homes are highly sought after for their breathtaking views, direct access to lakes, rivers, or oceans, and the relaxed lifestyle they provide.

Whether it's a lakeside retreat, a beachfront estate, or a riverfront home, waterfront properties give homeowners the chance to enjoy the outdoors in a way that few other properties can.

For those seeking peace and privacy, waterfront homes often provide a serene escape while still being close enough to cities for convenience. With rising demand for these types of properties.

Many luxury homes come with high-end features like expansive decks, infinity pools, and private docks, making them the perfect choice for anyone looking to enjoy both nature and comfort.

Apartments are a top choice for renters, students, and young professionals, especially in bustling urban areas.

For renters,

Apartments offer a flexible, low-maintenance option without the long-term commitment of buying a home. You can live in the heart of the city, close to work, restaurants, shops, and entertainment. It is ideal for those who want convenience without the hassle of yard work or home repairs.

Students love apartments because they’re often located near universities, making it easier to get to class and enjoy a social lifestyle. Many apartment buildings offer amenities like study lounges, bike racks, and sometimes even furnished units, which makes them an affordable and practical choice for those on a tight budget.

Young professionals also find apartments appealing for the same reasons: the convenience of living near their workplace, easy access to public transportation, and a range of amenities such as gyms, rooftop lounges, and even co-working spaces.

Plus, apartments often come with added features like security, maintenance services, and other opportunities for renters to live in vibrant neighborhoods with all types of facilities.

Eco-friendly luxury homes are becoming a top choice, especially among budget-conscious buyers and retirees.

According to Realtor.com,

60% of buyers now prioritize eco-friendly features, and Energy Star reports that energy-efficient homes can save up to 30% on utility bills annually.

Retirees appreciate these homes for their low-maintenance lifestyle, with 52% preferring sustainable, easy-to-care-for features, according to NAHB. In markets like California, green homes can see a 20% increase in value, as reported by Zillow.

These homes offer a blend of luxury and sustainability, making them an ideal option for those seeking long-term savings and comfort.

The real estate market offers diverse options to match any lifestyle. Whether you’re interested in the luxury of modern mansions, the convenience of condos, the beauty of waterfront properties, or the sustainability of eco-friendly homes, there’s something for everyone. With growing demand for energy-efficient and low-maintenance living, you can find a home that fits your needs and future goals in top locations like Miami, Fontana, and California.