Almost 1 in 10 U.S. homes are worth over $1M: Redfin report

Yahoo Finance ^ | 08/24/24 | Angel Smith

[SeekAndFind]

American housing prices continue their upward trajectory, with a Redfin report revealing a record number of homes priced at $1 million or more in over 100 towns across the United States. The report indicates that one in every ten homes is now valued at $1 million or above.

Yahoo Finance housing reporter Dani Romero analyzes this trend and how it impacts the broader housing market.

[John Milner]

Dayum!

Every family is the Clampetts!

(inflatable 18”) Swimming pools and (15 minutes of fame) movie stars!

[minnesota_bound]

My parents old custom built house in Golden Valley, Minnesota was about 6,000sq/ft on a 1/3rd acre next to Bassett creek. Cost was $43,000 in 1962. About 10 miles away from Minneapolis in a nice suburb.

The basement with 1 bedroom and bath opened to the backyard, main floor with 3 bedrooms and 2 baths and upstairs in the roof we had 2 bedrooms, a bath and a walk in attic.

Parents sold in 1982 for about $155,000 and in 1991 the 2nd owner sold it for $163,500 to the 3rd owner who still lives there.
Estimate now is about $564,000 on the low end. It is up about $150,000 in 5 years or so.

Redfin, Realtor, Zillow all give different sq/ft and estimated costs. $564,000 to $744,000

All kinds of less expensive homes for $350,000, cheaper the further away from Minneapolis.