--- title: 10 Cities Where Most of the Homes for Sale Cost $1 Million and Up description: 'Despite a challenging housing market, demand for luxury homes is strong: Most homes for sale in these 10 cities cost over $1 million.' authors: - name: Mary Ellen Cagnassola role: Reporter url: https://money.com/author/mary-ellen-cagnassola/ bio: Mary Ellen (M.E.) Cagnassola is a former Money reporter who specialized in U.S. rent and real estate, with a focus on market trends and affordability. education: Rutgers University, BA Journalism at_money_since: 2021 articles: 205 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes former_staff: true editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2023-07-06T20:31:22.000Z' modified: '2024-01-10T14:59:31.000Z' section: Housing tags: - News - real estate word_count: 460 canonical: https://money.com/cities-luxury-homes-sale-one-million/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Houses along the canal in Venice, Los Angeles, California](https://img.money.com/2023/07/News-Cities-With-Expensive-Homes.jpg) *Venice, Los Angeles, California* Americans looking to buy a home right now have the cards stacked against them, what with limited supply, elevated [mortgage rates](https://money.com/current-mortgage-rates/) and surging prices over the past few years. As difficult as the circumstances may be for prospective [homebuyers](https://money.com/homebuyers-relocate-sun-belt-cities/), data shows that there’s no shortage of high-end [inventory](https://money.com/decrease-homes-middle-class-can-afford/) for those with money to burn. An [analysis](https://www.point2homes.com/news/us-real-estate-news/rank-us-cities-share-of-luxury-homes-for-sale.html) of 90 U.S. cities by online real estate marketplace Point2 revealed that in 10 cities, at least half of current homes on the market are listed for $1 million or higher. Point2 looked at for-sale inventory as of July 3 in large, mid-sized and small cities, ranking them by local shares of high-end homes. [California](https://money.com/best-places-to-travel/pacific-coast-road-trip-california/) dominates the luxury housing market, boasting six of the 10 cities where more than 50% of the listings are $1 million and up. That’s not surprising when you consider that the median home prices in most of these metros are already above $1 million. Smaller markets with more reasonable median home prices, like Bozeman, Montana, also place in the top 10 for cities where most of the homes for sale fall into the luxury category. These are the cities with the largest percentage of homes for sale for at least $1 million: 1. **East Honolulu, Hawaii** (71% of home listings above $1 million) Median home price: $1,300,000 2. **Glendale, California** (66%) Median home price: $963,000 3. **Los Angeles, California** (64%) Median home price: $926,000 4. **Huntington Beach, California** (63%) Median home price: $1,100,000 5. **Bozeman, Montana** (62%) Median home price: $662,000 6. **San Francisco, California** (62%) Median home price: $1,300,000 7. **San Jose, California** (61%) Median home price: $1,242,000 8. **[San Diego, California](https://money.com/best-colleges/profile/university-of-california-san-diego/)** (59%) Median home price: $910,000 9. **North Bethesda, Maryland** (55%) Median home price: $580,000 10. **Boston, Massachusetts** (53%) Median home price: $799,000 ## Why the luxury home market is still strong Those looking to purchase a home this year have good reason to [put off their plans.](https://money.com/home-shopper-concerns-inflation-mortgage-rates/) Even though [home prices are finally falling](https://money.com/where-home-prices-heading-summer-2023/), high mortgage rates and [inflation](https://money.com/inflation-recession-fears-hitting-401k-contributions/) have forced many [would-be homebuyers](https://money.com/good-or-bad-time-to-buy-house/) to wait to make a purchase. Despite a challenging market overall, demand for luxury housing has stayed strong. For affluent buyers who can afford to avoid taking out a mortgage by [paying in cash](https://money.com/homebuyers-all-cash-offers/), current mortgage rates aren’t a deterrent. In fact, analysis shows that all-cash sales are up this year, particularly for luxury home purchases, propping up the high-end housing market. According to [Sotheby’s](https://www.luxuryoutlook.com/luxury-outlook-report-2023/), the wealthy have become wealthier in recent years. With more money to spend, affluent homebuyers are pretty much exempt from the problems plaguing the average buyer lately. [How to Find Affordable Homeowners Insurance in a Tough Market](https://money.com/affordable-homeowners-insurance-tough-market/) [How to Get a Home Equity Loan](https://money.com/get-a-home-equity-loan/) [The 10 Cities With the Biggest Drops in Rent Prices Since Last Year](https://money.com/cities-with-biggest-rent-drops/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/cities-luxury-homes-sale-one-million/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Housing", "item": "https://money.com/housing/" }, { "@type": "ListItem", "position": 3, "name": "Home Prices", "item": "https://money.com/home-prices/" }, { "@type": "ListItem", "position": 4, "name": "10 Cities Where Most of the Homes for Sale Cost $1 Million and Up" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/cities-luxury-homes-sale-one-million/#webpage", "url": "https://money.com/cities-luxury-homes-sale-one-million/", "name": "10 Cities Where Most of the Homes for Sale Cost $1 Million and Up", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-07-06T20:31:22.000Z", "mainEntity": { "@id": "https://money.com/cities-luxury-homes-sale-one-million/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/cities-luxury-homes-sale-one-million/#breadcrumb" }, "dateModified": "2024-01-10T14:59:31.000Z" }, { "@type": "NewsArticle", "headline": "10 Cities Where Most of the Homes for Sale Cost $1 Million and Up", "articleSection": "Housing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/07/News-Cities-With-Expensive-Homes.jpg", "width": 2880, "height": 1920, "caption": "News-Cities-With-Expensive-Homes" } ], "author": [ { "@type": "Person", "name": "Mary Ellen Cagnassola", "url": "https://money.com/author/mary-ellen-cagnassola/", "@id": "https://money.com/author/mary-ellen-cagnassola/#author", "description": "Mary Ellen (M.E.) Cagnassola is a former Money reporter who specialized in U.S. rent and real estate, with a focus on market trends and affordability.\r\n\r\n", "image": "https://img.money.com/2023/02/mary-ellen.png?w=350&h=430&crop=1", "alumniOf": "Rutgers University, BA Journalism" } ], "publisher": "https://money.com/#organization", "datePublished": "2023-07-06T20:31:22.000Z", "description": "Despite a challenging housing market, demand for luxury homes is strong: Most homes for sale in these 10 cities cost over $1 million.", "abstract": "Despite a challenging housing market, demand for luxury homes is strong: Most homes for sale in these 10 cities cost over $1 million.", "@id": "https://money.com/cities-luxury-homes-sale-one-million/", "inLanguage": "en-US", "dateModified": "2024-01-10T14:59:31.000Z", "editor": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "wordCount": 460, "keywords": [ "News", "real estate" ], "about": [ { "@type": "Thing", "name": "Housing in the United States", "sameAs": [ "https://en.wikipedia.org/wiki/Housing_in_the_United_States" ] }, { "@type": "Thing", "name": "Real estate economics", "sameAs": [ "https://en.wikipedia.org/wiki/Real_estate_economics" ] }, { "@type": "Thing", "name": "Housing market", "sameAs": [ "https://en.wikipedia.org/wiki/Housing_market" ] } ] } ] } ```