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WORTH and selling prices are two totally different animals. I've seen houses that sell for nearly 1 Mil in one area of the country that would qualify as crack houses in another. Unfortunately there's no real way of comparing apples to apples unless you are comparing ammenities. I'd be interrested to see what a house that would sell for say 10 Mil in the LA area would go for in other parts of the country.
I would have to agree that the list has flaws in it. I just did a real estate search on a site for the Pittsburgh area and it listed a few dozen million dollar homes. But these kinds of lists always have errors that extend from their sources, so it isn't surprising.
But yes, it's all about location! And it isn't surprising that the most million dollar homes are in California and New York, with secondary draws between Seattle, Boston, Florida, and DC. These are the areas that have money, that have amazing views, and are close to either large cities themselves or close to them for all the amentities you'll need.
I really wish I could find a list like this with a minimum population though. Say, highest percentage of million dollar homes in a city of at least 20,000 or 50,000
WORTH and selling prices are two totally different animals. I've seen houses that sell for nearly 1 Mil in one area of the country that would qualify as crack houses in another. Unfortunately there's no real way of comparing apples to apples unless you are comparing ammenities. I'd be interrested to see what a house that would sell for say 10 Mil in the LA area would go for in other parts of the country.
I have a friend from San Francisco who sold his house for $400,000 there and bought a house in Omaha that was twice as big in just as nice a neighborhood for less than half as much.
I don't believe that Pittsburgh has none at all. Has anybody ever been to a place in Pittsburgh called point Breeze. It is neighborhoods of old mansions built by many 1800s industrialist. That study is obviously flawed. I couldn't believe if those homes don't go for a million. These mansions are huge, architecturally astonishing, and not just a lame big Mcmansion you found in Country Club or Cherry Creek in Denver. There are hundreds of them in the Point Breeze, Squirell Hill, and Shadyside sections of Pittsburgh. I am going to have to question this study. I am not saying that I don't believe it, but these mansions in this section of Pittsburgh are some of the most largest, historic, and beautiful mansions I ever seen. They are similair to some around the German town area of Philly. Maybe its just the housing prices here drop them lower then they should be.
In that case, give me one of those Pittsburgh Mansion in Point Breeze over a Denver Country Club Mcmansion anyday!
I agree with you. There is no way a city the size of Pittsburgh, Albuquerque or Cleveland doesn't have ANY homes worth more than million. Buffalo, on the other hand, I might believe. I've seen homes in Albuquerque worth well in excess of $1mil. Property there isn't exactly cheap anymore. Some of the mansions in NE ABQ as you go up the side of the mountain are amazing. Heck, I live in Huntsville, AL and there are many $1mil+ homes in the historic districts and on the hills overlooking the city. There is one about 1/2 mile from my house in the historic district, Twickenham, adjacent to my neighborhood that the asking price is $3.2mil. There is another on the ridge of Monte Sano, asking price $14.4mil.
You make an interesting point, because those statistics aren't necessarily reflective of how many "nice homes" are in each respective city, but rather how expensive the homes are in those markets. Thus, you'd probably find beautiful homes in Pittsburgh similar to cities like S.F. and L.A., but because the latter cities are in notoriously expensive real estate markets, you're paying about twice as much money for the same kind of home.
That's a skewed list as Chicago is the only region in the top 10 that isn't on an ocean's coast. And the ocean's coasts drive prices throught the roof.
WORTH and selling prices are two totally different animals. I've seen houses that sell for nearly 1 Mil in one area of the country that would qualify as crack houses in another. Unfortunately there's no real way of comparing apples to apples unless you are comparing ammenities. I'd be interrested to see what a house that would sell for say 10 Mil in the LA area would go for in other parts of the country.
Just did a quick search for ABQ. There are 120 properties for sale right now listed at $1mil or above, with the most being $3mil.
$3,000,000
4 Bed, 5 Bath
5,916 Sq. Ft.
1.96 Acres 1104 La Luz Trl
Albuquerque, NM 87122
In Pittsburgh, the highest I see is a $2.2 mil condo. Granted these are asking prices but I doubt it would go for less than 1/2.
$2,195,000
5 Bed, 4.5 Bath
Downtown Pgh, PA 15222
Property Type: Condo/Townhouse/Co-Op
This 6,000 Sq Ft, 21st floor Penthouse Condominium has a private 2,000 Sq Ft Rooftop Terrace, a 3yr Tax Abatement, a 5 yr Home Warranty, ...
There is something wrong with that list. I noticed Cincinnati has 818 $1mil+ houses. Yet ABQ, Pittsburg, Cleveland and Buffalo have 0? No way. There are really rich people everywhere who like to build monuments to themselves. Even the deepest coal country of Appalachia, some of the poorest regions of the country, there are $1mil+ houses.
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