Boston is one of five cities with more than half of its houses selling for more than a million dollars. (Worcester: for sale, real estate)

[MrDee12345]

Home prices have been on the rise throughout the first half of 2023, often leaving would-be buyers desperate to see more inventory in their price range.

To prospective buyers, it might seem like every other house listed on Zillow has a seven-figure price tag. Depending on where you’re searching, that may actually be the case.

In Los Angeles, San Francisco, San Jose, San Diego and Boston, over half of the homes for sale are listed at over $1 million according to recent analysis by real estate website Point2.

Point2′s report looked at home listings in 30 of the largest U.S. markets among the 100 most populous cities in the U.S., with at least 500,000 people to see which cities have the highest proportions of homes with million-dollar price tags.

Perhaps unsurprisingly, California cities take the top four spots.

http://https://www.cnbc.com/2023/07/...lar-homes.html

So, is this problem ever going to be fixed?

[MtPleasantDream]

No New York?

A friend of mine purchased a 1bd apartment in Queens last year, and it was $900k+

[yesmaybe]

Originally Posted by MtPleasantDream

No New York?

A friend of mine purchased a 1bd apartment in Queens last year, and it was $900k+

Staten Island is "cheap" because of the crappy commute. Plus the Bronx.

[lrfox]

^The outer neighborhoods of Queens are also a good degree less expensive. Ultimately, NYC is nearly 400 square miles of land area (Boston is under 49), so there are large swaths of the city that aren't close to the city center and are still affordable (relatively speaking).

[Lampert]

This is the actual study
https://www.point2homes.com/news/us-...-for-sale.html

Boston has a median house price $799,000, 53.1% of the listings are above 1 million (5th in the nation) and 9.4% of the listing above 5 millions (second in the nation after LA).

Worcester is also mentioned in the study. Median housing price of $408,000 and 2.1% of the houses listed are over 1 million.

[Lampert]

Originally Posted by lrfox

^The outer neighborhoods of Queens are also a good degree less expensive. Ultimately, NYC is nearly 400 square miles of land area (Boston is under 49), so there are large swaths of the city that aren't close to the city center and are still affordable (relatively speaking).

NYC has a lots of houses for sale. That's why less than half are above 1 mil (40%) per the study.
In term of absolute numbers NYC has the largest number of listings above 1mil. Also is forth in listing bove 5mil (7.4% of all listings).

[JacksonPanther]

Originally Posted by MrDee12345

http://https://www.cnbc.com/2023/07/...lar-homes.html

So, is this problem ever going to be fixed?

Is this a problem? No one is trying to fix it.

[msRB311]

I think many people who live here enjoy this fact.

[newenglandgal123]

Originally Posted by msRB311

I think many people who live here enjoy this fact.

The only people here who enjoy that fact are the folks who already own one of those million plus dollar properties.

[msRB311]

Originally Posted by newenglandgal123

The only people here who enjoy that fact are the folks who already own one of those million plus dollar properties.

Which is a lot of people