Expensive Homes Plentiful On East, West Coasts

A record number of U.S. cities are now home to homes with price tags averaging one million dollars.

A new analysis by Zillow shows 550 places where a typical home is worth at least one million dollars.

There is high demand and tight supply in the housing market, though sky-high interest rates have dampened buyer’s enthusiasm. Of course, if you have a low interest rate on your mortgage, you are no likely to let go of that by putting your home up for sale, only to have to buy another home somewhere else with an mortgage interest rate of 7 percent. 

California, New York, New Jersey, Florida and Massachusetts top the 2024 list of states with expensive homes.

Here in the desert,  home prices in Indian Wells are about 1.2 million dollars, while a mere 9-hundred thousand dollars will help you scoop up a bargain in Rancho Mirage.  La Quinta about 850-thousand dollars.

In Palm Springs, look for home prices around 655-thousand dollars.  Palm Desert around 6-hundred-thousand dollars.

Indio about half a million dollars.

Woman and a dog sitting on the porch of a quaint red and tan bungalow home.

Photo from Alpha Media Portland OR