It’s assessed at a bit over $200k. Speculation, greed, and a very tight market has it way over-valued.
Around here – and probably everywhere AFAIK – municipal assessments have absolutely zero relationship to market value. They’re basically a fiction used for calculating property taxes. Market value is the real money you get on a sale.
Also in flyover country: $969,000 will buy you a 7 bedroom/5 full bath (+2 half bath) McMansion with 9000 sq ft in Topeka, Kansas.
For $750K, you can have a real mansion: built in 1926 (with a later addition), the Fleming Mansion has 5 bedrooms and 10,000 square feet and (currently) sits on six acres.
I would say recent decades @wolfpup, rather than recent years. Three houses within 200m of that townhouse sold in the last two weeks, 2 for $3.5M and one for $4M. It’s a funny pocket with fully detached, semis, and townhouses. Further west and south is more in the “gentrifying” category.
We’ve been in the neighbourhood for 20 years. Our first house was $400K and is probably worth 4 times that now. We bought our current house in 2007 and bought at the right time!
My apologies if I seemed to be disparaging that area, and thanks for educating me. I know that some 30-odd years ago or so (maybe more!) a respected real estate agent was recommending the St. Clair W area as up-and-coming and a great potential neighbourhood in which to invest in a home! And I guess he was right.
Part of my issue, TBH, is that I’m not really an urban type at heart. My brother loves his Manhattan condo and if he comes back to Toronto will undoubtedly buy a downtown condo. His grown kids all have houses in urban Toronto. Me, I’d be happiest in a country cottage by a lake, and as a compromise live in a distant suburb far from the madding crowds. But that’s just me. 
Oh, no apologies needed. It’s a funny area that not a lot of people know about. You can go 4 blocks and it changes, although the less desirable parts are gentrified or gentrifying.
I personally love being able to walk to 50 different restaurants, from high end to hole in the wall regional ethnic places.
A million here and a million there and pretty soon you’re talking about real money.
I limited myself to my zip code and a 900K-1M range. Nothing found. Slightly outside that zip code area all I could find were condos.
When I removed the minimum limit, I got some condos in my zip code. All under 1K sq ft.
My area? Would never happen. Nobody would waste that kind of money out here. But I suppose if someone did, it would be pretty impressive.
Now, my other area, where I call ‘home’, 1M is probably about mid/low average.
This is what you get in my neighborhood for a million dollars. The description claims it’s a three-family house, and it may have legally been converted to three-family house- but it was originally a one-family house and the only way that building has eight bedrooms is if at least two of them are in the basement.
McMansionville of the local variety
In suburban St. Louis, if you shop carefully you can find this 5 br/5 ba., 5,800 sq. ft gem, built in 1991. It’s on an odd-shaped lot because up until 1991, that area was considered too hilly and too densely wooded to be developed. You may still have some problems getting out when it’s snowy or icy.
We call that a “garden apartment.”
In Memphis you can get a nice house overlooking the Mississippi:
River House
Or something more sprawling in the heart of the city:
Chickasaw Gardens House
The woman who runs McMansion Hell would love this house. Why is there a two-story entrance? What is with the little window next to the top of it? None of the windows match! There are at least seven rooflines. This house is a perfect example of a more-money-than-taste million dollar mansion.
Around $1 million in Hoboken, NJ typically gets you a 2 br apartment around 1,300 to 1,500 sq ft, depending on what part of town. 3 and 4 br are a bit more rare. Around $2 to $5 million you can get a townhouse.
Surprisingly, Manhattan also seems to have a lot of 1-2 br listed on Zillow.
I think McMansion Hell is hilarious. Apparently Zillow didn’t enjoy the joke, though.
Typical in my neighborhood is 4 bedrooms, 4 baths, 4273 sq.ft. on 16.47 acres. They want 1.19 but that’s a little high and you can probably get it for 1 million clams on the nose even in the current sellers market.
In the Boise ID (just got my tax assessment today, hottest real estate market in the country right now, Le Sigh 
) and it’s very neighbourhood specific. A 5bed 5bath 6500 sqft house that would run above 7 million will only sell for just under 2 million only a mile or two away. Zillow didn’t turn up anything for less than 1.75 million on a quick search on one page of results
New Hampshire here.
Most of the $1 million plus homes in central New Hampshire are waterfront properties on Lake Winnipesaukee, Lake Winnisquam, Squam Lake, and Newfound Lake. A lot of them are on small 1 to 2 acre lots and not as a big as you would think-just regular 3 to 5 bedroom homes that would be a third to half that price if they weren’t waterfront properties. (Well under normal circumstances --real estate prices have gone up and selling fast in the past few months)
BTW, the Business Section of the Sunday NY Times (non NY edition, at least) has a column each week with three houses from around the country at a certain price point. When we first read these they were impressive, now it is “we can buy 3 of those.” Some are a million, some are more, some are less.