The 5 most expensive housing markets in America

Turns out they're all in California

TRD New York /
Nov.November 15, 2014 10:35 AM

If you’re looking for some of the most desirable and expensive properties on the market, head west. According to Coldwell Banker’s annual Home Listing Report, nine of the 10 most expensive housing markets in the US are in California, and the Bay Area dominated, thanks to the uniformity of the housing — there’s far less product diversity than in Manhattan — and the success of tech companies located nearby.  

The Home Listing Report compares the cost of a four-bedroom, two-bathroom home in nearly 2,000 markets, analyzing more than 51,000 homes. It found that the average home in the country’s most expensive market costs six times the national average listing price of $295,317.

5. Los Gatos, California

Average Listing Price: $1.31 million

State Average: $497,778

Los Gatos, also in the San Francisco Bay Area, is home to Netflix.

It was the 4th most expensive housing market in 2013.

 

Average Listing Price: $1.43 million

State Average: $497,778

Redwood City sits between San Francisco and San Jose. It is home to technology giants like Oracle and Electronic Arts.

It was the 10th most expensive housing market in 2013.

 

3. Saratoga, California

Average Listing Price: $1.87 million

State Average: $497,778

Saratoga, on the western edge of Silicon Valley, is known for its wineries and boutique shopping.

It was the 3rd most expensive housing market in 2013.

 

2. Newport Beach, California

Average Listing Price: $1.90 million

State Average: $497,778

Newport Beach, outside of Santa Ana, consistently ranks as one of the wealthiest communities in the US.

It was the 2nd most expensive housing market in 2013.

1. Los Altos, California

Average Listing Price: $1.96 million

State Average: $497,778

Los Altos, a wealthy enclave in the San Francisco Bay Area, is known for its excellent private and public schools. It’s home to Google founder Sergey Brin.

It was not one of the 25 most expensive housing markets in 2013.


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