Cities with the most Million-Dollar homes! (living, better, compared, places)

[MichiVegas]

Originally Posted by dalparadise

Its that the proportion of such sales in SF and the Bay Area in general is so far outside the realm of reason. One sale in a single year of over $1 million for every 520 residents in SF?!? If you understood the math, much less the socioeconomic implications of this, you would be amazed by this.

I guess I'm not amazed because 1 sale for 520 people isn't a lot.

People don't live 500 years, or even 200 years. If the median price of a home is already close to a million, then obviously half the time someone buys a house it will cost a million bucks. All that stat means is that one out of 100 SF households buys a home every year, and maybe half are over 1 million.

[dalparadise]

Originally Posted by MichiVegas

I guess I'm not amazed because 1 sale for 520 people isn't a lot.

People don't live 500 years, or even 200 years. If the median price of a home is already close to a million, then obviously half the time someone buys a house it will cost a million bucks. All that stat means is that one out of 100 SF households buys a home every year, and maybe half are over 1 million.

So, as I suspected, you don't understand the math or the socioeconomic implications. What's the ratio in Detroit?

[afonega1]

Originally Posted by Red John

This isn't a list for the most "million dollar homes" actually, it's a list for the most million dollar homes sold in the 12 months leading up to June 30th, 2013. List goes something like the below.

New York: 4,557
Los Angeles: 1,608
San Francisco: 1,588
Brooklyn: 732
Naples: 695
Washington: 664
Houston: 655
San Jose: 635
San Diego: 575
Newport Beach: 574
Boston: 549
Atlanta: 534
Honolulu: 519
Dallas: 518
Miami Beach: 508
Palo Alto: 470
Scottsdale: 457
Park City, UT: 404
Los Altos: 382

LOL. Are you just making this thread because Atlanta is on it? Because this article is over six months old, should have been posted back then rather than now.

I did not "title" the article.Either way its a good measure of where the homes are being purchased.
I did not see it six months ago.Apparent;y no one else posted it so why not discuss it now?

[Mr. Don Draper]

Originally Posted by MichiVegas

I agree with this list, though add NYC, which probably has about as many as all these cities combined, and Newport Beach, CA, which is absolutely loaded, though somewhat under the radar.

You're very right.

[Mr. Don Draper]

Originally Posted by dalparadise

If you have any confusion as to how expensive the Bay Area is, you should note that the four cities listed for the Bay Area don't begin to account for all the Bay Area's $million sales (tony Marin County and East Bay cities don't seem to be included) and yet they still place about 3000 million dollar sales on the list--for an area of 1/3 the population of NYC and 1/2 that of Los Angeles. In the City itself, it means that one in every 520 or so residents -- men, women, and children -- bought a million-dollar plus home last year.

I find this both amazing and disturbing.

New York, NY is what stands out to me as amazing and disturbing.

Those Bay Area combined areas are much greater in population than New York, yet combined they still fall way short. 4,750 vs 3,000. The "New York" at the top is Manhattan only. Manhattan's population is only 1.4 million.

Looking at that, Manhattan alone probably has more million dollar home sales than the entire Bay Area..without even getting to it's suburbs like the tony ones in CT, Westchester, etc. Manhattan alone certainly has far more multimillion dollar sales than the entire Bay. Perhaps something outrageous like 15-20X more.

In any case, NY and SF clearly lead the nation in terms of cost and amount of wealth.

[R4d10]

I'm surprised Ft. Lauder dale isn't on the list. Must be too small of a city.

[Justabystander]

Originally Posted by Red John

This isn't a list for the most "million dollar homes" actually, it's a list for the most million dollar homes sold in the 12 months leading up to June 30th, 2013. List goes something like the below.

New York: 4,557
Los Angeles: 1,608
San Francisco: 1,588
Brooklyn: 732
Naples: 695
Washington: 664
Houston: 655
San Jose: 635
San Diego: 575
Newport Beach: 574
Boston: 549
Atlanta: 534
Honolulu: 519
Dallas: 518
Miami Beach: 508
Palo Alto: 470
Scottsdale: 457
Park City, UT: 404
Los Altos: 382

LOL. Are you just making this thread because Atlanta is on it? Because this article is over six months old, should have been posted back then rather than now.

All that work and your list is still wrong. You left out Chicago at 767. Is that because they call you Red John and not Blue John?

[PrestigiousReputability]

New York City definitely should be mentioned.

If you actually want to OWN a 3-6 bedroom home in an okay area then it could EASILY cost over a million dollars, even in much of the outer boroughs.

[Scott5280]

Originally Posted by MichiVegas

I agree with this list, though add NYC, which probably has about as many as all these cities combined, and Newport Beach, CA, which is absolutely loaded, though somewhat under the radar.

Agreed If Newport Beach isn't very inlcuded this list is flawed perentage wise..The extreme Newport Beach lifestyle is probably the most expensive even over NYC.. pretty common in Newport Coast to have a million dollars in cars alone
Prime NB locations psf.puts Malibu, Beverly HIlls to shame.
NEWORT BEACH IS ROBB REPORT CENTRAL

[dalparadise]

None of this is reason to boast. That's my point. Most people can't afford $1,000,000+ homes. It should disturb us that these sales have become so commonplace. It truly demonstrates the disparity of wealth in this country, particularly in a few areas.

I did some more "math" (in quotes, because of rounding and estimates to account for areas not counted). For the year in question, in the New York Area, approximately one sale of $1,000,000+ took place for every 5000 residents! In the Bay Area, it was even worse--approximately one sale of $1,000,000 for every 2500 residents.