March 15, 2018

San Francisco Is the No. 1 U.S. Housing Market for Millionaire Buyers

More than one-third of the 25 most popular U.S. real estate markets for households with seven-figure annual earnings can be found in the Golden State.

  • Households that earn $1 million-plus per year bought more homes in the San Francisco metropolitan area than anywhere else in America in 2016, accounting for nearly 2 percent of transactions.
  • San Rafael ranks as the third most-popular U.S. housing market for millionaires, who purchased 1.34 percent of homes in the region.
  • Other top housing markets for $1 million-plus earners include Los Angeles, Anaheim, Salinas, San Jose, Santa Barbara, Oxnard, and San Diego.

 

More than one-third of the 25 most popular U.S. real estate markets for households with seven-figure annual earnings can be found in the Golden State, with San Francisco — perhaps not surprisingly — topping the list.

That’s according to a new report by SmartAsset, which ranks the top 25 cities where households earning at least $999,000 purchased homes in 2016. Millionaire homebuyers assume roughly three-to-four times smaller mortgage obligations than the average homebuyer.

To read the full post, click here: http://pacunion.us/2pjElqf


About The Mark Company

The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark in 1997, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to global leaders in residential development and finance, providing buyer-driven sales and marketing strategies that produce industry-leading results. The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including The Infinity in San Francisco, Evo in Los Angeles and The Martin in Las Vegas. Current projects include 181 Fremont Residences and The Austin in San Francisco and Cavalleri in Malibu. The Mark Company is a subsidiary of San Francisco-based Pacific Union International, the eighth-largest residential real estate brokerage in the U.S. based on 2016 sales volume of $10.15 billion. Pacific Union merged with Los Angeles-based brokerages John Aaroe Group in December 2016 and Partners Trust in August 2017. This strategic business collaboration links four of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $12.6 billion by 1,400 real estate professionals in 47 offices throughout California. For more information, please visit www.themarkcompany.com.