The US has more million-dollar real estate markets than ever -- here are 23 cities where the typical home will be $1 million by next year

  • Home prices in the United States are still rising, pushing more and more cities into $1 million territory.

  • Nearly 200 cities currently have a median home value of at least $1 million, and another 23 cities are projected to join the seven-figure club by summer 2019.

  • California is home to the most million-dollar real estate markets; it has 111 currently, and is expected to add 14 more cities over the next year.

Nearly two dozen real estate markets are fast-approaching million-dollar territory, according to a recent report from Zillow.

Zillow's data reveals that by June 2019, 23 cities will have median home values of at least $1 million, joining the 197 US cities where the typical home is already valued at seven-figures. (In these cities, half the homes are valued below $1 million and half are valued above.)

California and New York are currently home to the most million-dollar real estate markets. The Golden State has a significant edge, with 111 cities that have a median home value of $1 million or more as of June 2018. The San Francisco metro area has 46 $1 million cities — the most of any metro in the country. New York state has 30 cities.

Of the 23 new cities to join the million-dollar club by next summer, 14 are in California — all in the San Francisco and Los Angeles metro areas — and three are in New York. And three cities that had a $1 million median home value before the housing bust in 2006 are set to regain their status by 2019.

Keep reading to find out which cities will soon cross the $1 million mark.

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