The world seems to have gone Barbie crazy during the past few months, and her legendary pink “Dreamhouse” has enjoyed a share of the spotlight.
The original pink Dreamhouse was built in 1962 in Malibu, California. It’s the only real-life Barbie house, but industry researcher CoreLogic has imagined 20 other pink palaces have been constructed in cities around America and assessed their value.
It’s taken 1962 prices and compared them with those for 2023.
The calculation is based on a home of three stories, three bedrooms, two bathrooms, a living room, kitchen, outdoor entertaining area and a single-car garage. Of course, the creator Mattel has changed the doll’s house design several times over the years.
Even though the CoreLogic gurus admit to taking “artistic license” with their neighborhood selection, they claim the Barbie houses “tell the story of the US real estate market over the past six decades”.
Its chief economist Selma Hepp even went so far as to say, “Barbie can add astute real estate investor to her accomplishments”.
Her Malibu pad was worth $77,537 in 1962, and today you’d have to splash out $2.8 million to snap it up.
The San Francisco property valuation is even more stunning. Back in ‘62, it would have cost you $109,499. If you pitched up with a bid today, don’t bother going lower than $4.98 million.
Values are almost as crazy on the East Coast. A Barbie dreamhouse in Southampton, New York, would be worth $2.25 million today, jumping from $109,000 in 1962. Inside the Beltway, you’d have to pay $1.48 million, up from $78,344 back in ‘62.
And the cheapest Barbie house? That would be Houston: Thirty-one years ago, it would have been worth $18,699. It would be yours today for $351,245.
As CoreLogic so elegantly summed up its analysis: “The research sheds light on the notable changes in the real estate market across several major cities in the United States over the past six decades – particularly for multi-level pink houses outfitted with elevators.”
Cute.