A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.

Sales of $100 million homes are on track to double this year, as surging financial markets and hopes for rate cuts fuel a recovery in the ultra-luxury real estate market, according to new reports.

As of July 15, six homes in the U.S. have sold for more than $100 million, according to data from Miller Samuel and Douglas Elliman. If the sales pace continues, it would more than double last year’s total and likely eclipse the…