Where the Top 1% of Luxury Real Estate Rules the Market

There's luxury and then there's ultraluxury—and, depending on location, the price difference between them can be extreme.Nationally, ultraluxury listings (which Realtor.com defines as the most expensive 1% of listings) begin at $5.16 million, which is 4.3 times the median $1.20 million entry luxury threshold, or the most expensive 10% of listings in the country.But in certain markets, that gap widens considerably.Take Hilo-Kailua on the island of Hawaii, often called the Big Island. The micropolitan area covers all of Hawaii County, but the two areas sit on opposite coasts. Hilo is to the east, and Kailua to the west.In Hilo-Kailua, entry-level luxury starts at a median of $1,995,000. But the uber-wealthy snapping up the top 1% of properties are able to plunk down 6.2 times that, the steepest gap between entry and ultra in the country.There is also a bit of a price difference between the two coastal towns.Loading...A $21 million "cabin" in Incline Village comes with six bedrooms and panoramic Lake Tahoe views. Reno, NV, anchored by high prices in Lake Tahoe, is an unexpected top-tier luxury market.Brad Scott Visuals"Hilo anchors homes that are relatively more affordable," writes Re...