One In Five Westchester, NYC Homes Cost $1M Or More

  • Comment
Westchester County has the sixth-highest percentage of million dollar homes sold among all U.S. metro areas.
Westchester County has the sixth-highest percentage of million dollar homes sold among all U.S. metro areas. Photo Credit: File

WESTCHESTER COUNTY, N.Y. -- Million dollar homes are rare in many places in the country, but houses that sell for $1 million or more account for a little more than a fifth of the housing market in Westchestery County, according to a Trulia.com study.

The New York City/Westchester County/Northern New Jersey area had the sixth-highest percentage of homes on the market that sold for more than $1 million with 20.8-perecent of home sales falling under that pricey category, according to the study.

The greater San Francisco metro area had most $1 million-plus homes with 43.5-percent selling for that much. Fairfield County in Connecticut, had the second-highest percentage, with 29.7 percent of homes costing $1 million or more.

To put in perspective how many homes sell for more than $1 million in Westchester County, million-dollar homes reportedly make up less than five-percent of the for-sale market in 68 of the 100 largest metro areas in the country and less than two-percent in 44 of the 100 largest metro areas.

But don't expect that much bang for your buck in the greater New York City area. Home buyers only get an average of 1,489 square feet for their million in the metro area. That number is a bit skewed, however, since the price per square foot in the five boroughs of New York City is much higher than in Westchester and New Jersey.

On the opposite end of the spectrum, $1 million in the Birmingham, Ala., will get you an average of 8,059 square feet.

Click here to see the full Trulia report.

  • Comment

Comments