From big cities to small towns, the share of homes with selling prices above $1 million is rising quickly.
An analysis from Point2 "looked at the share of homes above $1 million, $3 million and $5 million (where available) to rank these places according to the availability of luxury housing," writes Andra Hopulele.
"According to the National Association of REALTORS® (NAR), the number of homes sold for more than $1 million rose by 81% to 17,216 in February, from 9,635 one year earlier." San Francisco, whose median home price is $1.5 million, "has the highest share of homes above $1 million and the highest percentage of high-end properties priced over $3 million, but Los Angeles dominates the ranking when it comes to the share of high-end homes for sale above $5 million."
Smaller cities also had high percentages of luxury inventory. "In Glendora, CA, 41.2% of the entire inventory of homes for sale is represented by luxury homes with an asking price above $1 million. Four other small markets boast a share of luxury inventory above 10%: Aliso Viejo, CA; Placentia, CA; Queen Creek, AZ and Galveston, TX." And "[w]ith nearly 70% of its entire inventory above the million-dollar mark, Santa Clarita earns the title of most luxurious mid-sized market."
"At the other end of the ranking, El Paso, TX would seem to be the least luxurious of all 30 large cities: No homes are for sale over $3 million nor $5 million. In fact, only 0.6% of all homes for sale are more than $1 million, meaning this Texas city is the most affordable large market."
FULL STORY: American Cities with the Highest Share of Luxury Homes for Sale
U.S. Home Sales to Foreign Buyers Drop by Almost 10 Percent
International purchases of homes on the U.S. housing market slowed in the last year.
Robotaxi Charging Lots Could Complicate San Francisco Housing Development
Multiple sites slated for housing development are now being turned into charging and storage lots for autonomous vehicles, making housing an unintended victim of the robotaxi revolution.
Maui Condo Sales Drop as County Weighs Short-Term Rental Regulations
A proposed county bill would phase out some 7,000 short-term rental units.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning
SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.
The Tiny, Adorable $7,000 Car Turning Japan Onto EVs
The single seat Mibot charges from a regular plug as quickly as an iPad, and is about half the price of an average EV.
Austin's First Single Stair Apartment Building is Officially Underway
Eliminating the requirement for two staircases in multi-story residential buildings lets developers use smaller lots and more flexible designs to create denser housing.
Atlanta Bus System Redesign Will Nearly Triple Access
MARTA's Next Gen Bus Network will retool over 100 bus routes, expand frequent service.
Toronto Condo Sales Drop 75%
In two of Canada’s most expensive cities, more condos were built than ever — and sales are plummeting.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)