As times go by million-dollar homes are slowly becoming commonplace in cities across the US. According to the real-estate site Trulia, the share of million dollar homes has doubled since 2012. At the top of the list, 57% of homes in San Francisco and San Jose with 46% of seven-figure homes, and at eighth place on the list is our own beloved NYC.
New York City moved from 7% in May 2012 to 12% this May. The surprising thing is the explosion of million-dollar homes in certain neighborhoods, particularly in Brooklyn. Brooklyn has seen a a crazy explosion in seven-figure-homes over the past four years.
Bedford Stuyvesant, in north central Brooklyn, moved from 1.7 percent of homes valued at $1 million to 56.5 percent in 2016, more than a 3,000% increase. Greenpoint, increased from 8.4 percent in 2012 to 56.7 percent in 2016. Bushwick went from 1.0% to 46.8%. You’ll find it easier to visualize the growth of million-dollar homes in the New York metro area over the past four years with this map from Trulia:
Featured image source [Trulia]