Top 10 least, most expensive real estate markets

California dominates among costliest markets

Screenshot of most expensive (in red) and least expensive (in yellow) states according to Coldwell Banker’s Home Listing Report. Click on image for interactive map with local market data.

Six out of the 10 most expensive housing markets in the U.S. are in California, according to an annual report from Coldwell Banker Real Estate released today.

The Home Listing Report examined average listing prices for four-bedroom, two-bathroom homes in more than 2,300 markets in the U.S. and Canada between September 2010 and March 2011. The data includes listings from Coldwell Banker affiliates and other Realogy franchise brands on coldwellbanker.com. U.S. markets had to have at least 10 properties fitting these criteria to be included; Canada markets had to have at least five.

Among the most expensive U.S. markets, Newport Beach, Calif. topped the list for the second straight year with an average listing price of $2.54 million, nearly $1 million more than the second most expensive market on the list, Pacific Palisades, Calif., a district of Los Angeles about 50 miles to the north.

10 most expensive U.S. markets:

  Market   State   Average listing price (Sep. 2010 – March 2011)
     
NEWPORT BEACH CA $2,537,126
PACIFIC PALISADES CA $1,606,992
STONE HARBOR NJ $1,344,908
RANCHO PALOS VERDES CA $1,312,538
SARATOGA CA $1,281,889
LOS GATOS CA $1,261,176
WESTON MA $1,228,100
GREENWICH CT $1,154,293
MERCER ISLAND WA $1,143,521
CUPERTINO CA $1,140,656

Source: Coldwell Banker

The least expensive U.S. market on the list was Niagara Falls, N.Y. with an average listing price of $60,820. That’s a difference of nearly $2.5 million from the most expensive U.S. market. By comparison, the difference between the most and least expensive markets in Canada was $1.4 million: Vancouver, British Columbia ($1.55 million) and Windsor, Ontario ($144,460), respectively.

Georgia accounted for three out of the 10 least expensive markets in the U.S. All three (Riverdale, College Park and Lithonia) are within a 20-mile commute to Atlanta, which has an average listing price of $255,448, the report said.

10 least expensive U.S. markets:

  Market   State   Average listing price (Sep. 2010 – March 2011)
NIAGARA FALLS NY $60,820
RIVERDALE GA $61,618
COOLIDGE AZ $69,083
COLLEGE PARK GA $72,477
DETROIT MI $73,363
HASTINGS FL $74,910
CLEVELAND OH $76,042
LITHONIA GA $77,385
TROTWOOD OH $77,445
SIOUX CITY IA $80,152

Source: Coldwell Banker

California saw the biggest disparity in prices between its most and least expensive markets: Newport Beach ($2.54 million) in Orange County and Rosamond ($108,263) in Kern County, respectively.

Nebraska had the most parity between its most and least expensive markets: Kearney ($163,300) in Buffalo County and North Platte ($140,440) in Lincoln County, respectively.

State
 
Most  Expensive
 
Avg. Listing Price for Sep. 2010 – March 2011
In U.S. $
Least Expensive
 
Avg. Listing Price for Sep. 2010 – March 2011
In U.S. $
 ALABAMA
Fairhope
$272,966
Albertville
$114,900
 ALASKA
Anchorage
$321,973
North Pole
$262,455
 ARIZONA
Scottsdale
$455,964
Coolidge
$69,083
 ARKANSAS
Maumelle
$255,868
Clarksville
$135,233
 CALIFORNIA
Newport Beach.
$2,537,126
Rosamond
$108,263
 COLORADO
Evergreen
$922,183
Pueblo
$141,160
 CONNECTICUT
Greenwich
$1,154,293
New Britain
$165,310
 DELAWARE
Bethany Beach
$865,765
Laurel
$204,420
 FLORIDA
Palmetto Bay
$449.353
Hastings
$74,910
 GEORGIA
Dunwoody
$379,866
Riverdale
$61,618
 HAWAII
Honolulu
$797,675
Waianae
$319,633
 IDAHO
Bonners Ferry
$331,025
Caldwell
$129,411
 ILLINOIS
Lake Forest
$753,543
Kankakee
$82,621
 INDIANA
Syracuse
$502,791
New Castle
$96,736
 IOWA
Iowa City
$247,364
Sioux City
$80,152
 KANSAS
Overland Park
$223,287
Parsons
$111,075
 KENTUCKY
La Grange
$269,398
Somerset
$151,015
 LOUISIANA
Pineville
$376,242
Bastrop
$132,636
 MAINE
Hermon
$297,252
Waterville
$144,538
 MARYLAND
Annapolis
$688,232
Cumberland
$160,497
 MASSACHUSETTS
Weston
$1,228,100
Springfield
$133,404
 MICHIGAN
Birmingham
$418,473
Detroit
$73,363
 MINNESOTA
Red Wing
$348,493
Owatonna
$146,652
 MISSISSIPPI
Diamondhead
$248,110
Jackson
$117,330
 MISSOURI
University City
$417,725
Kirksville
$125,010
 MONTANA
Bozeman
$486,538
Billings
$180,161
 NEBRASKA
Kearney
$163,300
North Platte
$140,440
 NEVADA
Incline Village
$716,608
Sun Valley
$115,767
 NEW HAMPSHIRE
Hanover
$669,742
Claremont
$234,318
 NEW JERSEY
Stone Harbor
$1,344,908
Newark
$170,427
 NEW MEXICO
Corrales
$649,861
Aztec
$178,850
 NEW YORK
Ossining
$919,986
Niagara Falls
$60,820
 NORTH CAROLINA   
Ocean Isle Beach
$679,375
Henderson
$121,117
 NORTH DAKOTA
Minot
$192,287
Fargo
$167,506
 OHIO
Upper Arlington
$390,236
Cleveland
$76,042
 OKLAHOMA
Skiatook
$241,138
Chickasha
$134,714
 OREGON
Lake Oswego
$524,100
Woodburn
$198,812
 PENNSYLVANIA
Newtown
$623,078
Penn Hills
$99,776
 RHODE ISLAND
East Greenwich
$550,600
Providence
$204,820
 SOUTH CAROLINA
North Myrtle Beach
$399,094
Darlington
$95,120
 SOUTH DAKOTA
Custer
$228,091
Box Elder
$179,472
 TENNESSEE
Brentwood
$379,208
Chattanooga
$121,969
 TEXAS
Colleyville
$350,710
Lancaster
$100,246
 UTAH
Salt Lake City
$397,630
Logan
$149,532
 VERMONT
Burlington
$444,428
Rutland
$184,689
 VIRGINIA
Alexandria
$635,365
Lynchburg
$171,243
 WASHINGTON
Mercer Island
$1,143,521
Spokane
$189,551
 WEST VIRGINIA
Martinsburg
$266,138
Bluefield
$131,160
 WISCONSIN
Shorewood
$436,321
Berlin
$85,391
 WYOMING
Sheridan
$293,193
Rock Springs
$183,867

Source: Coldwell Banker

 

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