Redefining the pinnacle of residential real estate is a lofty task. Buoyed by the global economic recovery and soaring stock market prices, the ultra-high end of the real estate market established new benchmarks for price in 2014, as five properties around the world changed hands for more than US$100 million. This stratospheric figure certainly isn’t the norm, even in markets with a reputation for expensive homes. But the increasing number of properties that are listed for sale and, more importantly, sell for more than that milestone amount, has set the bar higher in the game of trophy real estate.
 
Interestingly, it was not the world’s Global Economic Hubs that achieved the highest priced sales in 2014. Rather, two markets favored by New York City’s elite as prized Suburban and Weekender destinations appeared among the list of the most expensive sales in the world.

In Greenwich, Connecticut, Copper Beech Farm — which sits on 50 waterfront acres and was listed by David Ogilvy & Associates—achieved a record US residential sale price of $120 million. That price was eclipsed a short time later with the sale of a beachfront estate on Further Lane in East Hampton, which sold for $147 million. Remarkably, the areas surrounding the city were first to reach the elusive $100 million price point. New York achieved its first $100 million sale in December 2014 with a penthouse at one of the city’s new luxury Midtown developments.

Source: Luxury Defined, Christie’s International Real Estate white paper on the global luxury real estate market.