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Super-sized Homes Make a Comeback


According to the study, Provo, Utah leads the market with homes exceeding 3,000 square feet for sale, followed by Denver, Colorado. The study found that 71 percent of listed homes in Provo had a square-footage of 3,000 or more, up from 66 percent in 2016.


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Author: Radhika Ojha in Daily Dose, Data, Featured, News February 12, 2018 0 The luxury housing market has seen an impressive 5.1 percent jump year-over-yearWith the entry price to live in luxury pegged at $800,400, according to data released by Realtor.com recently, buying a luxury home might not be in the budget of an aspiring homeowner, who’s looking at big square-footage, at a lower cost. That’s where the McMansions step in - They might not be the most good looking properties, but with an average of 3,000 square feet and priced between $600,000 and $735,000, these mansions come close to living life king-size According to a study by Realtor.com on 10 metros that had the highest percentage of supersized residences up for sale, more than 70 percent of the housing market saw an uptick in the share of listed homes since January 2016The study found that there were more large homes being built now than there were at the height of the housing market boom over 10 years ago. According to the study, Provo, Utah leads the market with homes exceeding 3,000 square feet for sale, followed by Denver, ColoradoThe study found that 71 percent of listed homes in Provo had a square-footage of 3,000 or more, up from 66 percent in 2016In Denver, this percentage is at 61 percent. Moving to the East Coast, Bridgeport, Connecticut came in third after Utah and Colorado with 53 percent homes listed, having more than 3,000 square feet of spaceHowever, the homes here were higher priced than Utah and Colorado at $735,000At No4, Charlotte, North Carolina, which is seeing more companies setting up shop has about 43 percent homes listed boasting a square footage of 3,000 or more, followed by Indianapolis, Indiana with 41 percent. Dallas, Texas (40 percent); Oxnard-Thousand Oaks, California (37 percent); Minneapolis, Minnesota (36 percent); Portland, Oregon; and Seattle, Washington (34 percent) rounded up the top 10 metros with most homes listed at 3,000 square feet or more. Low inventory supply and high demand have plagued the luxury housing market in 2017According to data released by Redfin recently, the number of homes for sale priced at or above $1 million fell 23.8 percent compared to the same period last year, marking three consecutive quarters of declines in luxury supplyThe supply of homes priced at or above $5 million followed suit and was down 23.4 percentIn such a scenario, these super-sized homes, that aren’t exactly luxury housing fill an important gap. To read the complete list, click here. homes HOUSING Housing Market luxury Mansions McMansions Realtor.com Sale 2018-02-12 Radhika Ojha tweet !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk')); (function() { var po = document.createElement('script'); po.type = 'text/javascript'; po.async = true; po.src = 'https://apis.google.com/js/plusone.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(po, s); })(); Previous: The Safest Cities to Buy a House in the U.S. Next: When It Comes to Mortgage, Automate About Author: Radhika Ojha Radhika Ojha, Online Editor at the Five Star Institute, is a graduate of the University of Pune, India, where she received her B.Ain Commerce with a concentration in Accounting and Marketing and an M.Ain Mass CommunicationUpon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features sectionOjha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communicationsShe and her husband currently reside in Dallas, TexasShe can be reached at [email protected] Leave a Reply Cancel reply Your email address will not be publishedRequired fields are marked *Comment Name *Email *Website Related Articles House Passes TRID Improvement Act February 14, 2018 Lower Mortgage Rates in November Increase Refis February 14, 2018 The Hidden Costs of Owning a Home February 14, 2018 Homeowners’ Value Perception Takes a Tumble February 14, 2018 How Did Fannie’s Q4 Numbers Fare? 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