Million Dollar Homes Taking Over These Cities

Home prices continue to increase despite such increases slowing to just over 3% y/y.  Even at this slower rate, the number of $1M+ homes is growing and the prices of these homes are increasing.

Here is a list of 25 US cities where the share of million dollar homes increases along with the price tags:

25. Nashville +2.2%, up from 0.3% y/y

Median home values are still affordable at $259,922.

24. Phoenix -2.3%

Median list price is $262,033

Only 5.6% of households earn more than $200,000/year.

23. Fort Lauderdale +2.4%, an increase of 0.3%
24. Portland OR +2.5%, an increase of 0.1%

Median home price is        $302,129.

21. Austin +2.9%, an increase of 0.4%

Median listing price is $404,104.

20. Sacramento +2.9%, an increase of 0.3%

Median listing price is $230,375.

19. Cape Coral-Fort Myers +3.3%

Only 5.1% of households earn +$200,00

18. Denver +3.4%, an increase of 0.4%

Median list price is $257,281.

17. North Point-Bradenton +3.8%, a decrease of -0.3%
18. Newark NJ +4.2%, a decrease of -0.3%

Median list price is $251,230.

15. Charleston +4.8%, an increase of 0.8%

Median list price is $398,704.

14. Washington DC +4.9%, an increase of 0.4%

16.7% of DC residents earn more than $200,000/year.

13. West Palm Beach +5.1%

The median income in West Pal is $51,871.

12. Miami +5.9%

The median household income here is $40,327

11. Silver Spring-Fredrick MD +7.2%

The median income for high earners is $84,393/year.

10. Cambridge-Newton MA +9.4%

14.6% of households earn +$200,000/year.

9. Boston +9.8%

This is the most expensive zip code in the state.

Median list price is $458,920.

8. New York City +10.3%, an increase of 0.4%
9. Seattle +13.3%, an increase of 1.9%

At $86,822, this is the third highest median income in the

Nation.

6. San Diego +13.8%, an increase of +2%
7. Los Angeles +19.6%, an increase of 2.2%

Average list price is $613,718.

LA had the 5^th biggest increase of $M homes in nation.

4. Honolulu +19.8%, an increase of 3.7%

Median home value is $613,718.

3. Oakland +30.7%, an increase of 5.9%

Median list price is $766,684.

This city’s share of $M homes is the third highest increase.

2. San Jose +70%, an increase of 14.2%

This city’s share of $M homes had the largest increase in

The nation.

Median household income is $104.675/year.

Median list price is $1.29M, the second highest in nation.

1. San Francisco +81%, an increase of 13.7%

Median home value is $1.39M.

25% of households earn +$200,000/year.