US EditionHow much house $1 million buys you in Boston
SOUTH BEND AND OTHER MAJOR U.S. METROPOLITAN AREAS, AUG 1 – The number of $1 million homes has risen sharply, with only seven major metros now having luxury homes under $1 million compared to 30 five years ago, Redfin data shows.
- On July 31, 2025, Redfin Real Estate compiled listings of homes for sale up to $1 million in Boston and other major metros across the U.S.
- This study responds to changing market conditions where $1 million has shifted from a luxury benchmark to a common home price in many areas.
- Today, only seven major metros have luxury homes in the top 5% costing less than $1 million, down from 30 metros five years ago.
- Jonathan Huffer, a Redfin Premier agent, noted that while a $1 million price once indicated a high-end luxury home, it now often represents the cost of an average property due to significant increases in housing prices, particularly in coastal markets where such listings are becoming commonplace.
- The quantity of U.S. homes valued at $1 million has reached an unprecedented level as housing costs keep climbing to record levels, making such properties common yet unaffordable for most buyers.
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