Perhaps it’s not a surprise in a city where residential prices can reach into the stratosphere, but in Los Angeles, more than 17 percent of all homes are valued at over $1 million.
What may be more shocking is that L.A. doesn’t have the highest share of million-dollar homes. [...]
San Jose and San Francisco were No. 1 and No. 2, respectively. In San Jose, homes valued over $1 million made up 53 percent of the market. San Francisco’s million-dollar-share was at 40 percent.
— The Real Deal
Other major cities ranked in the new LendingTree survey are New York (4th place with 12 percent market share), Miami (9th, 4 percent), and Chicago (18th, 1.3 percent).
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