The Most Expensive Homes in America

By the Mercury Team

When people think of luxury real estate, they think of big mansions and estates in places like California, Florida, or New York. However, as the price of real estate has skyrocketed over the last few years, luxury homes can now be found in every state in the country.

“Luxury home listings are no longer confined to coastal cities,” said Mercury Insurance Product Manager, State Adam Bakonis. “The demand for high end homes has been just as strong as that of standard homes in the last few years.  Ultra-luxury homes can now be found in every state in the country.”

Here are some of the expensive homes found in their respective states.

Arizona

Maricopa County hosts a 28 million dollar modern estate which finished completion in 2022. The designer desert home, located in an exclusive community in Scottsdale, has a hidden catering kitchen and entertainment zone complete with a billiard room and golf simulator.

California

It should come as no surprise that Malibu, California is home to one of the most expensive pieces of property in the country. At 225 million dollars, this estate sits on five acres along Pacific Coast Highway with direct views of the Pacific Ocean. There are nine facilities including a gym, beach cottage, and an underground tunnel from the pool that leads to a large movie theater. There's even a separate elevator that takes you directly to the beach.

Georgia

Located on a private island, this four-acre, 18 million dollar home is accessible by a private gated bridge. The living area is spread across four buildings and the 700 feet of water surrounding the home is bordered by a seawall with a boat dock that can accommodate boats up to 20,000 pounds.

Illinois

A 45 million dollar mansion located in the Lincoln Park neighborhood of Chicago offers manicured grounds complete with multiple fountains, a reflecting pool, and hand-forged antique garden tucked in the heart of a major city.

New Jersey

Chateau de la Roche makes its home in Alpine. Completely built with smart technology in mind, a one-touch remote control system coordinates all lighting, sound, heating, cooling, and security cameras throughout the estate, as well as the pool and spa.

Virginia

At 39 million dollars, a home in McLean boasts French Provincial architecture with copper gutters and limestone walls. The outdoor dining area can hold over 200 guests and while the daily garage can house up to six cars, the separate collector’s garage holds 22 vehicles.

Although luxury homes can come with any type of customization a homeowner can dream of, Bakonis offers these insights when it comes to insuring high-end property:

• Swimming pools are a staple for many luxury homes but they also increase insurance premiums.  Flooding and personal liability are issues homeowners may face which means they’ll need extra liability insurance.
• If a luxury home’s architectural features include period pieces or an ornate facade, the homeowner must ensure that the value of those features are included in their replacement cost.
• Standard homeowner insurance policies typically don’t cover damage from a sewer line backup. Homeowners will need additional coverage to cover the expense of having sewage removed from the home and any damage caused by it.
• Luxury homes located in high fire risk areas will need to have additional insurance to cover the cost of any damage caused by a wildfire. Homeowners may also have to have their property assessed in order to take preventative actions to keep the property safe.

Whether luxury or standard, all homes require proper protection. Speak to your insurance agent to find out if your home has the right amount and type of insurance needed to keep you and your family safe.