The Real Deal New York

“Million dollar listing” doesn’t mean what it used to

January 12, 2018 01:41PM

There are four times as many homes worth $1 million today as there were in 2002, according to new data from real estate site Trulia. Across the top 100 U.S. metropolitan areas, roughly 4.3 percent of homes are now million dollar properties, Trulia found. But a million dollars doesn’t denote “luxury” like it had before: in many places — New York and San Francisco among them — seven figure home values are closer to the middle of the market than the high end. [CBS News]