Home Listing Report Finds Most Expensive, Affordable Markets

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 MADISON, N.J. (Nov. 6, 2013) – The glitz, glamour and white sandy beaches of Malibu, Calif., have attracted the rich and famous to this premier destination for years. Today, Coldwell Banker Real Estate released its 2013 Home Listing Report (HLR), which ranked Malibu as the most expensive place to live in the United States. According to the annual report, an apples-to-apples comparison of four-bedroom, two-bathroom homes in more than 1,900 real estate markets across the United States, a sample-sized home in the affluent beach community of Malibu lists for $2.15 million, compared to $63,729 in Cleveland, Ohio.

“With its laidback, yet star-studded lifestyle, Malibu is undergoing a transformation from a seasonal destination to a year-round locale,” said Madison Hildebrand, an agent with Coldwell Banker Residential Brokerage in Malibu, star of Bravo’s Million Dollar Listing. “Situated on the Southern California coast with beautiful homes and even more stunning views, you’re not only paying for world class properties, you’re paying for a way of life.”

Cleveland, Ohio, was ranked as the most affordable real estate market in the 2013 Coldwell Banker® Home Listing Report, where an average four-bedroom, two-bathroom home lists for $63,729.

“Cleveland’s friendly, hometown feel draws people of all ages, and in recent years, the community has been revitalized with more young professionals entering the market,” said Ed Dolinsky, president of Coldwell Banker Hunter Realty. “Energized by a growing tech hub that effectively supports nearby renowned hospitals and research institutions, this Midwest city continues to reinvent itself through its diversified business sectors and strong sense of neighborhood communities.”

Key Highlights from the 2013 Coldwell Banker® U.S. Home Listing Report:

“Whether moving for lifestyle or a new job, homebuyers can use the Coldwell Banker® Home Listing Report to compare the average listing prices of similar homes in different parts of the nation,” said Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC. “As the country moves on from the recession, this year’s report identified 20 markets where a four-bedroom, two-bathroom home costs more than $1 million, whereas in eight markets a similar home lists for less than $100,000.”

·         The average listing price of a four-bedroom, two-bathroom home in the survey of more than 1,900 markets and 52,000 listings was $301,414. 

·         California holds 13 of the top 25 spots for the most expensive markets in the U.S.

·         All top five of the most expensive markets are in The Golden State, with the two most expensive markets in the country located minutes from Los Angeles—Malibu (No. 1) and Newport Beach (No. 2).

·         In contrast, 60 percent (15) of the 25 most affordable markets are in the Midwest.

·         New York is the only state that had markets ranked on both the most expensive and most affordable lists.

Top 25 List of America’s Most Expensive / Most Affordable Real Estate Markets:

The top 25 most expensive and most affordable real estate housing markets in the 2013 Coldwell Banker U.S. Home Listing Report includes:

 

Rank

2013 Most Expensive Markets

Avg. Listing Price

 

2013 Most Affordable Markets

Avg. Listing Price

1

Malibu, Calif.

$2,155,900

 

Cleveland, Ohio

$63,729

2

Newport Beach, Calif.

$1,773,824

 

Garfield Heights, Ohio

$66,075

3

Saratoga, Calif.

$1,684,261

 

Flint, Mich.

$84,437

4

Los Gatos, Calif.

$1,360,497

 

Saginaw, Mich.

$87,181

5

San Francisco, Calif.

$1,309,599

 

Jackson, Miss.

$94,155

6

Stone Harbor, NJ

$1,301,727

 

Sioux City, Iowa

$97,969

7

Cupertino, Calif.

$1,292,400

 

Jonesboro, Ga.

$98,332

8

Orono, Minn.

$1,251,873

 

Moberly, Mo.

$99,593

9

Weston, Mass.

$1,229,000

 

Buffalo, NY

$101,631

10

Redwood City, Calif.

$1,203,357

 

Kankakee, Ill.

$103,187

11

Breckenridge, Colo.

$1,177,795

 

Utica, NY

$103,877

12

San Mateo, Calif.

$1,132,523

 

Ashland, Wis.

$104,774

13

Great Neck, NY

$1,103,364

 

Hillsdale, Mich.

$106,384

14

Pasadena, Calif.

$1,092,087

 

Johnstown, Penn.

$107,039

15

Greenwich, Conn.

$1,087,300

 

Arcadia, Fla.

$107,691

16

Wellesley, Mass.

$1,079,600

 

McCook, Neb.

$107,986

17

Sunnyvale, Calif.

$1,077,025

 

Park Forest, Ill.

$109,709

18

Santa Barbara, Calif.

$1,061,475

 

Niagara Falls, NY

$109,809

19

Danville, Calif.

$1,018,300

 

Eatonton, Ga.

$111,108

20

Kailua, Hawaii

$1,004,567

 

Lehigh Acres, Fla.

$111,410

21

Mercer Island, Wash.

$999,276

 

Kansas City, Mo.

$113,718

22

Campbell, Calif.

$974,212

 

Dayton, Ohio

$115,176

23

Larchmont, NY

$972,150

 

Camden, Ark.

$116,072

24

Westport, Conn.

$966,582

 

Akron, Ohio

$116,906

25

Newton, Mass.

$912,745

 

Aurora, Mo.

$117,013

*A list of the most affordable and expensive markets in each state can be viewed on the Home Listing Report website.

About the 2013 U.S. Home Listing Report (Methodology):

The Coldwell Banker® U.S. Home Listing Report analyzes the average listing price of four-bedroom, two-bathroom real estate properties on coldwellbanker.com between January 2013 and June 2013 for 52,257 listings in 1,997 markets. Coldwell Banker affiliates as well as other franchise brands associated with Realogy Holdings Corp contribute to listings on coldwellbanker.com. Markets without at least 10 four-bedroom, two-bathroom listings on coldwellbanker.com between January 2013 and June 2013 were excluded from the ranking.