Industry News

Study: Dubai offers world’s highest home prices

Sioux City has lowest U.S. home prices in Coldwell Banker report
Published on Sep 9, 2008

Dubai, United Arab Emirates, is the most expensive international market for homes, while La Jolla, Calif., is the most expensive U.S. market, according to a price study released by the Coldwell Banker brokerage company. The study compares homes with similar sizes and attributes in 315 U.S. markets and in Puerto Rico, Canada and a sampling of other countries where Coldwell Banker has operations. First launched in the late 1980s, the annual Coldwell Banker Home Price Comparison Index compares prices for four-bedroom, 2.5-bathroom homes that have about 2,200 square feet of space. The cumulative average sales price of homes included in the survey in the 315 U.S. markets is $403,738, down 4.4 percent compared to the average price in the 2007 study. La Jolla topped the list with an average $1.84 million price for homes that meet the study criteria, and Sioux City, Iowa, was the most affordable U.S. market, with an average home price of $133,459 for those homes that meet the study...

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