In October 2012, The Wall Street Journal launched its Mansion section with the goal of covering high-end real estate in the U.S. and around the world. It has been a busy 10 years.⁠ ⁠ Market observers were shocked that year, when the family of Russian billionaire Dmitry Rybolovlev paid $88 million for a penthouse at Manhattan’s 15 Central Park West. But that deal turned out to be just the beginning. There were 48 sales of $50 million or more in 2021, up from five in 2012, according to data from real-estate appraiser Jonathan Miller.⁠ ⁠ Now, nine-figure sales are more common. There were eight sales of $100 million or more in 2021, compared with one in 2012, said Mr. Miller. In 2014, tech mogul Michael Dell paid $100.47 million for a condo at One57, a roughly 1,000-foot tower on Manhattan’s Billionaires’ Row.⁠ ⁠ Meanwhile, billionaire Ken Griffin broke the $200 million barrier in 2019 when he paid some $238 million for a condo on Billionaires’ Row. The deal holds the record for the highest price ever paid for a home in the U.S. The average annual rate of inflation over the past 10 years was 2.3%. ⁠ ⁠ While prices have soared in the past decade, the locations of the country’s most expensive home markets have changed little, remaining concentrated in New York, California and Florida. To get a sense of how high-end real estate has performed over the past 10 years in those areas, the WSJ examined what a $5 million budget could buy in 2012 versus today in Miami, Los Angeles and New York.⁠ ⁠ Read more via the link in @wsjrealestate's bio.⁠ ⁠ 📸: @mbkoeth for @wsj