California has 35 cities that have an average home price over $1 million as of May 2023, according to recent data released by SmartAsset.
showed housing price growth from May 2022 to May 2023, ranking the most and least expensive homes in 532 markets.
Connecticut is another state where home prices increased rapidly, with houses in Hartford getting 20 percent more expensive over the past year than any other city. Meanwhile, San Francisco saw a 13 percent decline in house prices over the last year, marking the second largest drop after a 15 percent decrease in rental prices in Dublin, California. The average home price in San Francisco is $1.2 million, while the average home price in New York City is $700,000. California ranks at the top on SmartAsset's data when it comes to the 10 most expensive housing markets in the U.S. The state has 35 cities with an average home price of over $1 million.
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