While some luxury markets such as Los Angeles are heating up, others are cooling down rapidly.
Listings at the luxury level—defined as the top 10% of the real estate market—have declined nationwide to $1,250,750 in July, down 2.7% year over year, the 28th straight month of annual decline, according to the latest Realtor.com®monthly luxury report.
But some metros are sinking much faster than that. Austin, TX, posted the biggest drop in the country, its luxe entry threshold down 9.6% year over year to $1,262,726, more than three times the national pace…