A new report from Trulia reveals the quickly increasing number of neighborhoods in the country that have a median home price touching seven figures.
Patrick Sisson and Jeff Andrews report: "According to a new Trulia report analyzing home values nationwide, the share of single-family homes sporting seven-figure values has grown 7.6 percent over the past year alone, and doubled since 2012, increasing from 1.5 percent to 3.6 percent of all homes on the market."
In raw terms, 838 of the 15,100 neighborhoods analyzed by the report have a media home value over $1 million. "The top four states in the nation for such pricey real estate—California, as wall as New York, Florida, and Washington—contain 82.8 percent of such neighborhoods," according to Sisson and Andrews. "Colorado, due to expensive areas around Boulder, rounds out the top five."
Moreover, the number of million-dollar neighborhoods increased at a faster rate in 2017 than previous years.
Several infographics included in the source article help illustrate more findings from the study.
FULL STORY: The number of ‘million-dollar neighborhoods’ in the U.S. has doubled
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