According to Redfin data compiled from public records and MLS data as of June 2024, nearly one in ten US homes is now worth at least $1 million, marking a record high for the housing market.
The median sale price for US homes increased by four percent year over year in June, with a more striking nine percent rise for luxury homes, reflecting the ongoing trends in the real estate market.
California is experiencing the fastest growth in million-dollar homes, particularly in cities like Anaheim, San Diego, and Los Angeles, where figures jumped between 40 percent to 60 percent.
In San Francisco and San Jose, a staggering 80 percent of homes are valued at over seven figures, showcasing the incredibly high home values in these areas.
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