Anyone with an eye on the current real estate market knows that inventory is down, prices are up, and mortgage interest rates are roughly 5 percent higher than they were just two years ago. So what better time to start shopping for a multi-million dollar residence?
Recently, real estate hub Point2 decided to assess market listings to find the most expensive homes in each state as well as Washington, D.C. Considering the speed at which the market moves, the guide may not be current, but it does give you an idea of what the upper tier of home valuation is in different parts of the country.
Unsurprisingly, a tony section of Los Angeles currently boasts the highest priced listing on the market: a $250 million spread in the heart of Bel Air. The 40,000 square foot residence features an underground tunnel, a golf course, and a few original paintings for the buyer.
A Palm Beach enclave isn’t far behind: the $218 million home is situated on its own private island, making it ideal for any kind of dystopian lawless emergency.
If you’re more into urban living, New York’s Central Park Tower offers a nearly 18,000 square foot space with excellent views and a private elevator. The asking price is $195 million.
States with some of the (relatively) cheapest luxury locations include Mississippi, North Dakota, and Nebraska, where $3.9 million can net you a 9900 square foot space with 6 bedrooms and a theater room.
On the other end of the spectrum sits a modest dwelling in Pontiac, Michigan, which was recently listed for sale for $1. It ultimately sold for $52,000. And yes, it needs quite a lot of work.
This article was originally published on www.mentalfloss.com as Vaunted House: The Most Expensive Home for Sale in Each State.
