Industry News

Gap widens between priciest, most affordable real estate

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An annual Coldwell Banker comparison of homes sold in 344 typical, middle-management neighborhoods in the United States, Puerto Rico and Canada, found that La Jolla, Calif., was the most expensive community and Killeen, Texas, was the least expensive. La Jolla topped the Coldwell Banker Home Price Comparison Index with a home-price index rating of $1.875 million, compared to Killeen at $131,328, Coldwell Banker announced today. The home-price index evaluated average home values for a single-family dwelling measuring approximately 2,200 square feet with four bedrooms, two and one-half baths, a family room (or equivalent) and two-car garage. "With the rapid price appreciation we have seen in housing over recent years, the home-price index has become an even more valuable tool. By helping Americans gauge the value of their home in new markets, it takes some of the guesswork out of the stress of moving," said Jim Gillespie, president and chief executive officer of Coldwell Banker Real ...