Luxury home sales are down in Miami, amid national real estate trend

Luxury home sales are down across most of the U.S. — including in Miami, according to a recent Redfin report.

• The Miami metro area saw a 10.7% decrease in sales in the third quarter compared to a year ago, in line with national figures.

Yes, but: Three of the 10 most expensive home sales in the U.S. in Q3 were in the Miami area: a $57 million residence on Star Island, a $36 million mansion on Sunset Island II and a $36 million home in Gables Estates.

The other side: Luxury home sales are up in nearly a third of the largest U.S. metros, per the Redfin report.

• Luxury housing supply rose 3% across the U.S., and sales surged more than 30% in some metros, including Tampa and Las Vegas, Axios’ Brianna Crane reports.

Zoom in: New listings in the Miami metro are up 8.3%, but South Florida homes are staying on the market longer than any other major U.S. metro, per Redfin.

• The median days on the market for a luxury home in Miami was 125 in Q3. (Fort Lauderdale came in second with 84 days.)

Meanwhile, non-luxury home sales were down in every major U.S. metro, and non-luxury supply is down 21% overall.