Homes listed for $100 million or more are piling up fast, but sales have ground to a halt, leading some to call a top in the very top of the real estate market.
Real estate brokers and analysts said there are roughly 20 homes for sale (either officially or unofficially) for $100 million or more in the U.S. That's up from about a dozen or 15 last year.
At the same time, sales of nine-figure homes have stalled. By the summer of 2014, three homes sold for $100 million or more. But so far this year, there hasn't been a single recorded sale at those prices, brokers and analysts said.
And as the inventory of super mansions rises, so have the price cuts—with some getting slashed by tens of millions of dollars.