Million-dollar homes used to be somewhat unique in the United States. While properties priced at or above that mark represent just a little more than 2 percent of the market, according to the National Association of Realtors, their share is growing.
In fact, the share of million-dollar homes has nearly doubled in the last four years, according to Trulia, and in certain hot markets and neighborhoods, the increase is much larger.
In the city of San Francisco, the share of million-dollar homes almost tripled. In San Jose, it went from around 17 percent of all homes to 46 percent.
All of the major southern California housing markets, including Los Angeles, Orange County, Ventura County and San Diego, have seen their share of million-dollar homes more than double.
Of the top 10 metros that had the largest increase in million-dollar homes, New York City saw the smallest overall bump, from 7 percent to 12 percent of homes, but in Brooklyn alone, one of the city's five boroughs that has seen a ton of pricey new construction, the jump was enormous, from just under 2 percent to 56.5 percent.
