If you look at Dallas home prices anytime soon, expect to see a lot of zeros.
According to a new study by Point2 News, 22% of Dallas home listings are priced above the $1 million mark.
That’s despite the city’s median home price landing at $412,000.
And if a $1 million home seems a little déclassé to you, don’t worry—1.8% of Dallas home listings crack the $5 million mark, too.
Los Angeles, San Francisco, San Jose top the list
Dallas’ million-dollar listing rate places the city No. 12 nationwide, according to Point2. If you want to see a town that’s positively choking with million-buck homes, take a drive around Los Angeles. The City of Angels tops the list at No. 1 with a full 63.6% of home listings above $1 million, and 11.6% above $5 million. The median home price there is $926,000.
L.A. is followed closely at No. 2 by San Francisco (63.6% over $1 million, but with a U.S.-leading median home price of $1.3 million). Pulling up at No. 3 is San Jose, California, with 60.6% of homes listed over $1 million.
Austin out-millions Dallas, but Fort Worth is far behind
Austin barely edges out Dallas in million-dollar-plus home listings, with 24.7% and a median home price of $550,000.
Houston is all the way down at No. 18 with 11.4% of homes listed above $1 million and a median home price of $340,000.
And Fort Worth? It’s No. 25 in the U.S.—with only 3.4% of home listings snapping the $1 million mark. Its median home price is $340,000, just like Houston’s.
You can see Point2’s full study here.
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