June 15, 2011, 5:00 a.m. EDT
The 10 most expensive U.S. cities to buy a home
California locales lead the way when it comes to high-price housing
By Amy Hoak, MarketWatch
CHICAGO (MarketWatch) — Six of the 10 most expensive housing markets in the country are in California, according to Coldwell Banker’s annual Home Listing Report, released Wednesday.
At the top of the most expensive list: Newport Beach, Calif., which was the costliest place to buy a four-bedroom, two-bathroom home for the second year in a row, according to the report of 2,300 markets in North America.
The report considers the average home listing price of four-bedroom, two-bathroom homes listed on ColdwellBanker.com. The homes were listed on the site between September 2010 and March 2011.
The average U.S. home that fit this criteria listed at about $293,000. The average listing price in Newport Beach: $2.5 million.
That California cities made up such a large portion of the top 10 list isn’t much of a surprise. “Year in and year out, California and the West Coast dominates,” said Jim Gillespie, chief executive of Coldwell Banker Real Estate. There were also a couple of top 10 cities from the East Coast.
Below is the list of the 10 most expensive housing markets.
1. Newport Beach, Calif.
2. Pacific Palisades, Calif.
3. Stone Harbor, N.J.
4. Rancho Palos Verdes, Calif.
5. Saratoga, Calif.
6. Los Gatos, Calif.
7. Weston, Mass.
8. Greenwich, Conn.
9. Mercer Island, Wash.
10. Cupertino, Calif.
Full story, with pics and explanations of the top 10: http://www.marketwatch.com/story/the-10-most-expensive-us-cities-to-buy-a-home-2011-06-15?link=MW_story_popular
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