By Staff

BOSTON (CBS) — A “pandemic-driven housing boom” is driving up home prices across America, and Boston is one of the most expensive markets in the country, a new analysis finds. Zillow released a report Monday on “Million-Dollar Cities,” and reported that the Boston metro area has 11 of them.

Zillow said there are now 312 million-dollar cities, up 45 from last year and up 104 from five years ago. Only San Jose, Los Angeles, New York and San Francisco had more than Boston.

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“In 2020 home values soared nationwide because of incredible demand across all price tiers, which we expect to continue well into 2021,” Zillow senior economist Chris Glynn said in a statement. “Despite the label, there are homes available in these communities for less than $1 million, but buyers must be realistic about their wish list and act quickly in the current market, especially since homes are selling in a matter of days in many places.”

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Zillow said the cities and towns around Boston where the typical home value exceeds $1 million are:

Weston ($1.53 million)
New Castle, NH ($1.46 million)
Wellesley ($1.42 million)
Dover ($1.21 million)
Newton ($1.18 million)
Belmont ($1.12 million)
Lexington ($1.12 million)
Winchester ($1.09 million)
Needham ($1.08 million)
Lincoln ($1.08 million)
Brookline ($1.06 million)

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