The price on the one-bedroom, one-bathroom home has dropped since March, when it was a smidge under $1.4 million. (Photo by Vincent Ivicevic)

The La Canada Flintridge, Georgian Colonial home of developer Nelson Rising is on the market at $8.5 million. (Photo by Wayne Ford)

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A living area inside a Lennar model home in Chino Hills which are priced near and above $1 million. (Photo by Will Lester, Inland Valley Daily Bulletin/SCNG)

The gated, two-story, Mediterranean home has hit the market again after selling in 2010 for $4.5 million. Take a tour in the slideshow.

A seven-bedroom home in Newport Beach has sold for $14.55 million, a record for that oceanfront strip. (Photo by Chris Snitko)



A seven-bedroom, oceanfront home in Newport Beach has sold for $14.55 million (Photo by Chris Snitko)

Several prominent celebrities have called the 88-year-old oceanfront house at 1038 Palisades Beach Road in Santa Monica home through the decades. The house is for sale at just under $12 million. (Photo by Adam Latham)

Home office: 10 Channel Vista, Newport Coast; Ocean view, 9,762 square feet, 5 bedrooms; Asking price: $22.8 million; Listing agents: John Cain, Heather Hosto, HOM Sotheby’s International Realty

Hanley Investment Group Real Estate Advisors in Corona del Mar has closed the sale of Roosevelt Plaza at Carlsbad Village for roughly $8.2 million. The 19,950-square-foot, three-story property that combines retail, creative office and residential homes in Carlsbad. (Courtesy of Hanley Investment Group)

The home at 1 Pelican Hill Road N., on 12.5 acres in Newport Coast , sold for $40 million in 2017. (Photo by Andrew Bramasco)



The swimming pool/waterpark of a 7,238-square-foot Covina home is featured, asking price is $5.6 million Dec. 11, 2017. The 4.32 acre horse property is located on E. Lorencita Drive. (Photo by Leo Jarzomb, SGV Tribune/ SCNG)

Retired baseball player Skip Schumaker’s Convenant Hills home sold for $2.2 million. (Photo by Bowman Group Architectural Photography)

The home at 12 Bay Island, at the tip of the small island in the photo above, is for sale at $21.995 million, (Photo by Ryan Garvin)

One-in-seven U.S. cities with median home values of $1 million or above are located in the metropolitan area comprising Los Angeles and Orange counties, according to a new report from Zillow.

As of June, real estate tracker Zillow found 28 million-dollar cities in the two Southern California counties. Only two metropolitan areas — New York/New Jersey and San Francisco had more.

L.A.-O.C.’s million-dollar cities represented 14 percent of all U.S. towns with such high housing values. But the two counties are also the nation’s No. 2 metro area in terms of population: 13.4 million residents equal 8.4 percent of the people living in the big metro areas tracked by Zillow in this report.

It’s not just seven-figure housing that makes L.A.-O.C. stand out: Overall, the metro’s median home value of $646,300 ranked No. 3 priciest of the major metros studied. By the way, the area’s priciest city by Zillow math? Beverly Hills at $3.48 million.

To the east, Riverside and San Bernardino counties had no million-dollar cities, by Zillow’s math. That didn’t mean the Inland Empire is not pricey.

Overall, Riverside and San Bernardino counties had a median home value of $356,800 — No. 12 of the major metros studied. And it’s priciest city? Indian Wells with a $716,300 median value.

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The San Francisco region has 46 million-dollar cities, ranking No. 1 of all U.S. metropolitan areas. That represented 23 percent of all U.S. million-dollar cities even though its 4.73 million population is just 3 percent of the people living in big metro areas.

Overall, San Francisco had a median home value of $953,600 — No. 2 of the major metros studied. And its priciest city, Atherton at $6.87 million, was the national high.