Industry News

Study: Dubai offers world’s highest home prices

Sioux City has lowest U.S. home prices in Coldwell Banker report

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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...