Boston: Over 50% Of Homes Cost $1 Million Or More
It’s no surprise that Boston is one of the more expensive cities in the country. CNBC published a feature that detailed five cities where most homes cost $1 million or more, and Boston made the list.
“To prospective buyers, it might seem like every other house listed on Zillow has a seven-figure price tag,” CNBC states. In Boston, that statement is fairly accurate.
Boston Ranks 5 In Cities With The Largest Share Of Million-Dollar Homes
According to this report, 53% of home listings in Boston are priced over $1 million. 9% are above five million. Furthermore, the median price was just under $800,000. In fact, this ranks right above New York at number six. Only California had more of a percentage of million-dollar homes. Los Angeles was number one, with a whopping 64% of homes costing $1 million or more. Then, we have San Francisco, San Jose, and San Diego, respectively.
Property Club lists the South End, Beacon Hill, and Back Bay as some of the most expensive and richest neighborhoods. In addition, the development of the Seaport has made it a popular destination for big money. It, too, has gotten quite expensive and labeled as one of the richest communities.
In addition to Boston and New York, only Washington DC was named here on the east coast as cities that have the highest cost to purchase homes.
If these facts now have you reconsidering moving into Boston or Massachusetts in general, CNBC did highlight a New England area for having one of the best housing markets.
Maine Has The 3rd Best Housing Market
It’s more than a stone’s throw from Boston, but southern Maine can be a relatively short drive. CNBC listed Maines as the third best housing market in the country. It was the only market in the entire northeastern area to receive such a recognition.
