Report: Size of home you can buy for $1M falls since pre-pandemic

The million-dollar homes market in Tampa has a downward trend: The amount of space per square foot in those higher-end sales is shrinking.

By Louis Llovio
| 6:50 p.m. September 8, 2022
| 0 Free Articles Remaining!

This 42-acre property in Myakka City, listed for just under $7 million, is being sold in an auction. (Courtesy photo)

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A million bucks doesn’t go as far as it used to.

A report just out found that the size of house you can get for $1 million has fallen since the beginning of the pandemic. Zillow, which conducted the study, found that homes at that million-dollar price point are on average about 500 square feet smaller than just two years ago, shrinking from 3,021 square feet in the middle of 2020 to 2,530 square feet earlier this year — a drop of 16.25%.