Slideshow: Mansion or shack? It's the $1M question
SAN FRANCISCO —
Swimming pool with a hot tub. Four bedrooms and four-car garage. Granite countertops and stainless-steel appliances. That's what $ 1 million will buy you in the Phoenix suburb of Mesa.
What will the same seven-figure price tag get you in San Francisco? Not much.
The Bay Area saw a record number of houses and condos going for $1 million and above in the spring, pushing the median selling price into the cool million-dollar range for the first time in June, real estate research firm CoreLogic DataQuick said Thursday.
One home in a trendy San Francisco neighborhood recently sold for $1.8 million in cash - $600,000 more than its asking price. No swimming pool listed with this 1,200 square-foot house. Instead it featured a concrete slab yard, no appliances and an unfinished basement.
A million dollars will go a lot further in other parts of the country.
- In Philadelphia, $1 million means a four-bedroom brick row house with a multi-tiered shoe closet.
- A Little Rock, Arkansas, house on 5 acres of land tucked into a hill overlooking a stream the feeds into the Arkansas River, complete with a fireplace in the master bedroom, is on the market for about $1 million.
- In an affluent Atlanta neighborhood, $1 million translates to a backyard swimming pool and 2,500 square feet.
- And in Springfield, Illinois, $1 million gets you a nearly 6,000 square foot house with six bedrooms near a top-rated golf course.