In the U.S., three markets tend to dominate the luxury real estate market—Miami, Los Angeles, and New York.
For the most part, the trend holds true, according to Coldwell Banker, which just released its 2012 luxury market report looking at cities and zip codes with the highest numbers of luxury listings and home sales.
In terms of places with the most $1 million+ homes for sale, California reigned supreme.
#9: PARADISE VALLEY, AZ (85253): 455 homes are on the market for $1 million or more.
#8: LOS ANGELES, CALIF. (90049): 469 homes are for sale for $1 million or more. Of those, 73 are listed for $5 million and up, and 41 of those are $10 million+. Last year, 10 homes in the neighborhood sold for $10 million or more.
#7: LAGUNA BEACH, CALIF. (95651): 488 homes are on the market for $1 million and up. Of those, 76 are $5 million or more, and 25 of those are listed for more than $10 million.
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