Real Estate

Boston ranked among top 5 cities where more than half the homes for sale cost over $1m

But the city is No. 2 for luxury listings priced over $5 million.

By Kristi Palma

July 13, 2023

• Facebook
• Twitter
• Email
• Email
• 5

Home buyers seeking property in Boston need some of the deepest pockets, a July 5 report by real estate website Point2 has confirmed. 

The site analyzed listings in 30 of the largest U.S. markets and concluded that Boston is one of the top five cities where more than half of the homes for sale are listed above $1 million. The other four cities were in California: Los Angeles, San Francisco, San Jose, and San Diego.

Los Angeles topped the list with the most million-dollar price tags (64%). San Francisco ranked No. 2 with 62%, San Jose came in at No. 3 with 61%, San Diego slipped into No. 4 with 59%, and Boston capped the list with 53%.

Boston, however, ranks higher than three Golden State cities when it comes to ultra-luxury listings — priced at more than $5 million. Boston has 9%, second only to Los Angeles at 12%, according to the report.

Of the five metros, San Francisco and San Jose are the only cities where the median home price is more than $1 million. The median home price in Boston is $799,000, according to the report.

These were the five large cities with the least luxury listings above $1 million:

Among mid-sized markets, Worcester ranked 24th on the list, with 3.1% of its listings over $1 million and a median home price of $408,000.

These cities made the top 15:

These were the five mid-sized cities with the least luxury listings above $1 million:

Check out the full report by Point2.