Markets & EconomyRegulations

California homes remain the most expensive

Newport Beach, California named most expensive U.S. market
  • On Coldwell Banker's newest list of most and least expensive housing markets, California dominates.
  • The average listing price for a home in Newport Beach is seven and a half times the national average.
  • Nine of the top 10 cities are in California, and are clustered around San Francisco and Los Angeles.

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According to Coldwell Banker's annual Home Listing Report (HLR), California dominates the top 100 priciest markets in the land. Half of the top 100 are in California. Nine of the top 10 cities are in California, and are clustered around San Francisco and Los Angeles. Yet, the state overall is only the third-most expensive housing marketing in the country. On average, the price of entry into California markets is daunting: all of the top 25 most expensive markets on the Coldwell Banker list have an average listing price of $1 million or more. Sixteen of those markets are in California. The only outlier on the top 10 is no. 8 -- Orono, Minnesota, part of the Minneapolis-St. Paul metro. Newport Beach tops the list, where the average listing price of a four-bedroom, two-bathroom home is $2,291,764. Jamie Duran, president of Coldwell Banker Residential Brokerage for Orange County and San Diego companies, is very pleased by the mention. She said in the report: “We’re ...