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 Springfield, Ohio. Listings between $500,000 and $1,000,000 were included.
5152 S Tecumseh Rd, Springfield
- Price: $959,900
- 4 bedrooms, 3.5 bathrooms
- Square feet: 5,200
- Price per square foot: $184
- See 5152 S Tecumseh Rd, Springfield on Redfin.com
2642 Kilkenny Ct, Springfield
- Price: $859,000
- 5 bedrooms, 6.5 bathrooms
- Square feet: 7,189
- Price per square foot: $119
- See 2642 Kilkenny Ct, Springfield on Redfin.com
429 Braytonburne Dr, Springfield
- Price: $850,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 5,648
- Price per square foot: $150
- See 429 Braytonburne Dr, Springfield on Redfin.com
6105 New Carlisle Pike, Springfield
- Price: $849,000
- 4 bedrooms, 1 bathroom
- Square feet: 2,248
- Price per square foot: $377
- See 6105 New Carlisle Pike, Springfield on Redfin.com
2655 Ballydoyle Dr, Springfield
- Price: $799,900
- 5 bedrooms, 6 bathrooms
- Square feet: 8,621
- Price per square foot: $92
- See 2655 Ballydoyle Dr, Springfield on Redfin.com
3631 Kingsgate Ln, Springfield
- Price: $684,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,623
- Price per square foot: $261
- See 3631 Kingsgate Ln, Springfield on Redfin.com
3072 Fowler Rd, Springfield
- Price: $595,000
- 4 bedrooms, 3 bathrooms
- Square feet: 3,728
- Price per square foot: $159
- See 3072 Fowler Rd, Springfield on Redfin.com
7646 N River Rd, Springfield
- Price: $585,000
- 3 bedrooms, 2 bathrooms
- Square feet: 3,112
- Price per square foot: $187
- See 7646 N River Rd, Springfield on Redfin.com
4209 Altman Ave, Springfield
- Price: $564,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,803
- Price per square foot: $201
- See 4209 Altman Ave, Springfield on Redfin.com
505 W Home Rd, Springfield
- Price: $550,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 4,726
- Price per square foot: $116
- See 505 W Home Rd, Springfield on Redfin.com
125 Hawthorne Rd, Springfield
- Price: $550,000
- 4 bedrooms, 4.5 bathrooms
- Square feet: 4,448
- Price per square foot: $123
- See 125 Hawthorne Rd, Springfield on Redfin.com
601 Hornwood Dr, Springfield
- Price: $530,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,197
- Price per square foot: $165
- See 601 Hornwood Dr, Springfield on Redfin.com
4205 Altman Ave, Springfield
- Price: $524,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,827
- Price per square foot: $185
- See 4205 Altman Ave, Springfield on Redfin.com
414 S Landon Ln, Springfield
- Price: $519,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,735
- Price per square foot: $190
- See 414 S Landon Ln, Springfield on Redfin.com
410 S Landon Ln, Springfield
- Price: $504,900
- 3 bedrooms, 2 bathrooms
- Square feet: 2,075
- Price per square foot: $243
- See 410 S Landon Ln, Springfield 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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