The number of American houses worth $1 million is at an all-time high, as home prices continue to hit new records.
While million-dollar homes are out of reach for the vast majority of Americans, they are no longer just being bought and sold by the ultra-wealthy. In San Francisco, the median-priced home sells for more than $1.6 million – far above the national median of $441,000. Meanwhile, in Detroit, $1 million listings are rare.
Today, there are only seven major metros where a luxury home — valued in the top 5% of homes — costs less than $1 million, compared to 30 just five years ago.
"The $1 million mark used to signal true luxury; now, in many parts of the country, it simply means the price of a typical home," said Jonathan Huffer, a Redfin Premier agent specializing in luxury properties in Palm Beach, Florida. "It's a reflection of how dramatically home prices have risen, especially in coastal markets where million-dollar listings have become the norm rather than the exception."
So, are you wondering what $1 million buys in today's market? Redfin Real Estate pulled from its listings to see how far it goes in Mansfield. Listings between $500,000 and $1,000,000 were included.
1360 Lexington Ontario Rd, Mansfield
- Price: $799,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 3,744
- Price per square foot: $213
- See 1360 Lexington Ontario Rd, Mansfield on Redfin.com
3873 Us-42, Mansfield
- Price: $798,500
- 4 bedrooms, 3 bathrooms
- Square feet: 2,730
- Price per square foot: $292
- See 3873 Us-42, Mansfield on Redfin.com
1157 Deer Run Rd, Mansfield
- Price: $699,900
- 5 bedrooms, 5.5 bathrooms
- Square feet: 5,778
- Price per square foot: $121
- See 1157 Deer Run Rd, Mansfield on Redfin.com
640 Running Brook Way, Mansfield
- Price: $699,900
- 4 bedrooms, 3.5 bathrooms
- Square feet: 4,272
- Price per square foot: $163
- See 640 Running Brook Way, Mansfield on Redfin.com
1515 Oak Run Ct, Mansfield
- Price: $699,000
- 7 bedrooms, 6 bathrooms
- Square feet: 5,740
- Price per square foot: $121
- See 1515 Oak Run Ct, Mansfield on Redfin.com
1400 Charolais Dr, Mansfield
- Price: $675,000
- 4 bedrooms, 4 bathrooms
- Square feet: 3,201
- Price per square foot: $210
- See 1400 Charolais Dr, Mansfield on Redfin.com
3415 Grubb Rd, Lexington
- Price: $659,900
- 3 bedrooms, 3.5 bathrooms
- Square feet: 2,276
- Price per square foot: $289
- See 3415 Grubb Rd, Lexington on Redfin.com
3545 Willow Hill Rd, Mansfield
- Price: $629,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,592
- Price per square foot: $175
- See 3545 Willow Hill Rd, Mansfield on Redfin.com
751 S Home Rd, Mansfield
- Price: $625,000
- 4 bedrooms, 4.5 bathrooms
- Square feet: 3,220
- Price per square foot: $194
- See 751 S Home Rd, Mansfield on Redfin.com
1645 Woodville Rd, Mansfield
- Price: $599,900
- 5 bedrooms, 3 bathrooms
- Square feet: 3,329
- Price per square foot: $180
- See 1645 Woodville Rd, Mansfield on Redfin.com
609 Mcbride Rd, Mansfield
- Price: $599,900
- 2 bedrooms, 2.5 bathrooms
- Square feet: 2,284
- Price per square foot: $262
- See 609 Mcbride Rd, Mansfield on Redfin.com
250 W Chesrown Rd, Mansfield
- Price: $574,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,044
- Price per square foot: $281
- See 250 W Chesrown Rd, Mansfield on Redfin.com
291 N Stewart Rd, Mansfield
- Price: $534,900
- 6 bedrooms, 4 bathrooms
- Square feet: 3,560
- Price per square foot: $150
- See 291 N Stewart Rd, Mansfield on Redfin.com
441 Lexington Ontario Rd, Ontario
- Price: $519,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 4,034
- Price per square foot: $128
- See 441 Lexington Ontario Rd, Ontario on Redfin.com
$1 million dollar homes in major cities around the country
215 W Illinois St Unit 2B-2C, Chicago
- Price: $1,000,000
- 3 bedrooms, 3 bathrooms
- Square feet: 4,396
- Price per square foot: $227
- See 215 W Illinois St Unit 2B-2C, Chicago on Redfin.com
5435 Preston Fairways Cir, Dallas
- Price: $1,000,000
- 3 bedrooms, 3.5 bathrooms
- Square feet: 4,392
- Price per square foot: $227
- See 5435 Preston Fairways Cir, Dallas on Redfin.com
2956 W Avenue 35, Los Angeles
- Price: $1,000,000
- 4 bedrooms, 2 bathrooms
- Square feet: 1,662
- Price per square foot: $601
- See 2956 W Avenue 35, Los Angeles on Redfin.com
6049 SW 165th Ave, Miami
- Price: $1,000,000
- 5 bedrooms, 4 bathrooms
- Square feet: 3,153
- Price per square foot: $317
- See 6049 SW 165th Ave, Miami on Redfin.com
206 E 95th St Unit 12B, New York City
- Price: $1,000,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,001
- Price per square foot: $999
- See 206 E 95th St Unit 12B, New York City on Redfin.com
3070 61st Ave SW, Seattle
- Price: $1,000,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,670
- Price per square foot: $598
- See 3070 61st Ave SW, Seattle on Redfin.com
This story was produced by Redfin Real Estate and reviewed and distributed by Stacker.
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