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The 10 most expensive and least expensive housing markets in the U.S.

Posted in Appraisal, Development, Housing, Industry Trends

The 10 most expensive and least expensive housing markets in the U.S.

Story by: Monika Warzecha | BuzzBuzzHome

Calling California home can cost you. Coldwell Banker’s Home Listing Report for 2014 ranked 1,971 real estate markets across 50 states and the Golden State tops the list with a high number of pricey places to buy a house.

The real estate firm looked at 51,000 listings to come up with the average price for a four-bedroom, two-bathroom home. The result? Nine of the top 10 most expensive places to own a home in the United States are in California with Los Altos, of Silicon Valley fame, taking the top spot with an average price of $1,963,099.90. It’s followed by Newport Beach in Orange County and Saratoga in Santa Clara County.

However, a number of California markets also ranked quite low on the list. Adelanto, a town in San Bernardino County, came last in the state with an overall ranking of 1,839 and an average home price of $149,727.71.

The least expensive places on the list of nearly 2,000 were far more varied by state, though a number of the markets were located in the Rust Belt. Cleveland, Ohio was the least expensive with an average price of $64,993.03. Other cities at the bottom of the list include Riverdale, Georgia and Park Forest, Illinois.

Here’s a closer look at both extremes of the report:

Top 10 most expensive markets

1. Los Altos, CA; Average price: $1,963,099.90
2. Newport Beach, CA; Average price: $1,904,083.25
3. Saratoga, CA; Average price: $1,867,979.69
4. Redwood City/Woodside, CA; Average price: $1,430,329.24
5. Los Gatos, CA; Average price: $1,307,408.04
6. San Francisco, CA; Average price: $1,294,250.00
7. Sunnyvale,CA; Average price: $1,267,184.74
8. Moraga, CA; Average price: $1,129,300.00
9. San Mateo, CA; Average price: $1,093,346.15
10. Wellesley, MA; Average price: $1,090,088.83

The 10 least expensive markets

1. Cleveland, OH; Average price: $64,993.03
2. Riverdale, GA; Average price: $68,206.85
3. Park Forest, IL; Average price: $75,647.06
4. Lake Wales, FL; Average price: $82,330.00
5. Lithonia, GA; Average price: $94,076.47
6. Buffalo, NY; Average price: $97,288.00
7. Waukegan, IL; Average price: $98,226.39
8. Augusta, GA; Average price: $98,232.81
9. Cheektowaga, NY; Average price: $101,475.00
10. Utica, NY: Average price: $107,211.35

The complete ranking of all 1,971 markets for 2014 can be found here.

For more data-driven market news, check out our interactive map of where the US housing recovery is — and isn’t — take place.