Thanks to increasingly high interest rates, the price of a home has made homeownership more elusive for many Americans. Nowhere is that more evident than when you look at the very top of the real estate food chain: million-dollar mansions.
A recent report from Point2Homes.com shows the most expensive home on the market in each state. The site compiled the properties from an analysis of its database, national and local brokerages and articles on verified luxury listings. The prices listed below were current as of September 25, 2023.
What Is the Most Expensive Home for Sale in Each State?
| Rank/State | Address | Price |
|---|---|---|
| 1. California | 10644 Bellagio Road, Los Angeles | $250,000,000 |
| 2. Florida | 10 Tarpon Isle, Palm Beach | $218,000,000 |
| 3. New York | 217 West 57th Street, New York City | $195,000,000 |
| 4. Colorado | 41 Popcorn Lane, 100 & 102 Difficult Lane, Aspen | $105,000,000 |
| 5. Nevada | 1041 Lakeshore Boulevard, Incline Village | $76,000,000 |
| 6. Washington | Halftide Farms, Friday Harbor | $75,000,000 |
| 7. Tennessee | 5845 Old Highway 96, Franklin | $65,000,000 |
| 8. Texas | 107 Timberwilde Lane, Houston | $65,000,000 |
| 9. Oregon | 27280 NE Old Wolf Creek Road, Prineville | $59,900,000 |
| 10. Wyoming | 9750 East Gros Ventre Road, Jackson | $58,000,000 |
| 11. Connecticut | 545 Indian Field Road, Greenwich | $57,995,000 |
| 12. Virginia | 7020 Green Oak Drive, McLean | $50,000,000 |
| 13. Utah | 533 North Left Fork Hobble Creek Road, Springville | $48,000,000 |
| 14. Indiana | 5382 East State Road 162, Santa Claus | $47,900,000 |
| 15. Georgia | 4665 Riverview Road, Atlanta | $46,800,000 |
| 16. Hawaii | 9 Bay Drive, Lahaina | $41,900,000 |
| 17. Montana | 1915 Lakota Drive, Three Forks | $39,500,000 |
| 18. South Carolina | 1415 Gregorie Neck Road, Yemassee | $39,500,000 |
| 19. Massachusetts | 9 Atlas Lane, Weston | $38,000,000 |
| 20. New Jersey | 151 Spook Hollow Road, Bedminster | $35,000,000 |
To see the most expensive home listing in all 50 states and Washington D.C., be sure to check out the full report.
To Buy a Big Home or Not To Buy a Big Home
Mansions aside, you may be contemplating whether it makes sense to jump into this crazy housing market. In a recent podcast, money expert Clark Howard says he made the switch to a smaller dwelling and he is glad he did.
“I love living in a condo. To me, it’s like living in a big hotel room. You lock the door and you go,” Clark says. “You don’t have to worry about all the stuff that I had to worry about in a house.”
Clark says downsizing has increasingly become popular among homeowners and builders.
“More and more builders are building for a smaller number of people in the house,” Clark says. “They’re also building smaller bedrooms, with some of them designed to be home offices for people who work remotely.”
Will Mortgage Rates Become Affordable Again?
Clark predicts that mortgage rates will make homeownership affordable in the near future.
“Interest rates on mortgages are headed down. I think they’re going to hit somewhere in the 5s,” Clark says.
“I believe that there will be an opportunity in the next 24 to 36 months to refinance. Mark your calendar and call me out as wrong if it turns out I’ve blown it,” Clark says.
