Is This $175 Million Mansion the Most Expensive Home in America?

Housing

Published: August 5, 2021 10:30 am

Home sales in the United States surged to historic levels this year. Based on the S&P Case-Shiller Home Price Index, the gold standard of home sales data, prices in May rose more than 16% from last year. In some cities, like Phoenix, that figure was over 20%. Much of the increase in both sales volume and price is because people have moved from the large coastal cities. Prices have been particularly high in recent decades in the New York City area and in cities and towns near San Francisco, Los Angeles and Seattle. Prices in cities inland from these have surged, with Boise as one example. Home prices there are more than a third higher year over year.
[in-text-ad]
The most expensive homes in the nation continue to be in or around the huge coastal cities. The most expensive house in America, as far as Realtor.com is concerned, is in Southampton on Long Island, 90 miles east of New York City. The Hamptons have long been a playground of New York City’s rich.

The most expensive home in America is called Mylestone at Meadow Lane. Bespoke Real Estate is handling the sale of the $175 million home. Realtor.com describes it as follows:

Billed as “in a class of its own,” with a price to match, the double-lot waterfront estate spans the Atlantic Ocean to the Shinnecock Bay, and has 500 feet of ocean frontage, an array of amenities, and a 15,521-square-foot residence with 11 bedrooms, 12 bathrooms, and four half-bathrooms.

The house sits on eight acres, a property size rarely seen in the Hamptons. As would be expected the home has a pool, tennis courts, a basketball court and a caretaker’s cottage.

Southampton is among the cities and towns where local people have been priced out of the market because of the home demand of rich, summer residents. The town has an unusually high median income. With a population of 3,285 (which likely does not include many people with vacation homes), that income figure is $122,641, about double the national figure. Median home prices for owner-occupied properties are $1.23 million. That is more than three times the national number.

Base on the price of Mylestone at Meadow Lane, it is hard to believe anyone other than a billionaire could buy it.

Click here to see the most expensive cities in which to buy a home.

The Average American Has No Idea How Much Money You Can Make Today ^(Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps