What kind of housing can you buy in the US for a million dollars?

Photo: Zillow

Once upon a time, the cost of a million dollar house was something out of the ordinary. Now this price in the ad is not much surprise. The number of homes worth a million dollars and more in the United States has grown from 1,6% in 2012 to 3% in 2016. This is due to the fact that the housing market is recovering from the 2008 mortgage crisis of the year.

“Such statistics are an indicator of the good state of the economy. We call 2017 the year of buying your first home,” says Javier Vivas, representative of the site Realtor.com. Millions for a long time could not afford to buy real estate because of the payment of student loans, unemployment, unstable state of the economy.

The most million-plus offers in Boston, Providence, Manhattan and Brooklyn, New York, Baltimore, Washington, Pittsburgh, Charlotte, Asheville, Charleston, Savannah, Miami, Louisville, Nashville, Birmingham, Madison, St. Louis, St. Louis, Louisville, Nashville, Birmingham, Madison, St. Louis, St. Louis, St. Louis, Nashville, Birmingham, Madison, St. Louis , Dallas, Austin, Denver, Albuquerque, Salt Lake City, Phoenix, Las Vegas, Seattle, Portland, Sonoma, San Francisco and Los Angeles.

We suggest you evaluate housing for a million dollars in 6 states: California, New York, Florida, Washington DC, Texas and Nevada.

San Francisco, California

Photo: Zillow

Renovated condo Mission District. Before the appearance of the dot-com bubble, Latin American families from the working class mostly lived in this area.

Now the district is one of the most expensive areas of San Francisco. The average property price is $1.3 million.

In other parts of San Francisco, however, the prospects for buying property are not much better. In this city, even doctors who earn $ 200 thousand a year barely make ends meet. 98% of homes in San Francisco are more expensive than in the pre-crisis 2007 year.

Los Angeles, CA

Photo: Zillow

Despite a slight drop in prices last year across the United States, real estate prices in Los Angeles have already increased by $ 24-30 thousand compared to 2016.

In Los Angeles, there is a high demand for homes, the price of which rose to $ 690 thousand last summer. It does not stop buyers. Only in December 2016 of the year 405 530 houses were sold. This is almost 10% more similar statistics in November.

One of the most expensive areas in Los Angeles is Jefferson Park. The average housing price here exceeded $550 thousand last year.

Manhattan and Brooklyn, New York

Photo: Zillow

Analysts predict that Manhattan's real estate market will see the slowest growth of any New York City borough this year. The median home price in Manhattan is expected to rise only 0,6% to $985.

Home prices in Brooklyn, on the other hand, are currently at an all-time high, reaching $993. Prices are especially high in the Brooklyn-Brownstone and North Brooklyn neighborhoods, where the average apartment price is $955.

It is not surprising that for one million dollars a New Yorker will not receive much, especially if he is going to get to the subway in less than an hour.

Miami, FL

Photo: Zillow

The cost of housing in Miami, Florida, continues to grow, but the price can vary greatly depending on the area.

For example, in Coconut Grove, one of the oldest areas of Miami, the real estate market is more developed than in other areas of the city.

For the last 5 years, housing prices in Miami have been constantly increasing. Now the average price of real estate in Coconut Grove reaches $ 950 thousand. But by adding another $ 50 thousand, you can buy a house with marble walls, porcelain floors, a terrace and your own pool.

Washington, DC

Photo: Zillow

In the capital, housing prices jumped by 9% in March compared to March last year, but the number of offers simultaneously decreased by 13%. The average property price is $273 thousand.

The average purchase price of a luxury home in Washington, DC - $ 2,7 million. So much is a Victorian townhouse located in the elite quarter. All the necessary furniture and secure parking are included.

Dallas, Texas

Photo: Zillow

Since 2010, the average property price in Dallas, Texas has increased by 77%. This is the biggest jump in the value of real estate in the United States after a recession.

The average home price here is $201. This is 650% more than a year earlier. The increase in real estate values ​​is associated with large companies like Toyotawhich willingly dispose of their facilities in Dallas.

The cost of luxury houses with vaulted ceilings, an outdoor pool, a fireplace, oddly enough, on the contrary, has decreased.

Las Vegas, NV

Photo: Zillow

The real estate market in Las Vegas continues to grow, despite the poor outlook compared to other major US cities. Increased demand from buyers. Additionally, the real estate market stimulates an increase in the number of jobs and higher wages.

Last year, more than 47 thousands of homes were sold in Las Vegas. Prices for homes in Las Vegas unexpectedly rose this winter, and the average property price for 2017 was $ 242 thousands.

Property prices in Las Vegas will continue to grow due to housing shortages.

Read also on ForumDaily:

10 of states where real estate buyback ratio decreases

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