The 5 Priciest, Cheapest Places for Home Buyers
Malibu ranks as the priciest housing market in the country. The average list price in Malibu for a four-bedroom, two-bathroom home is $2.5 million, according to Coldwell Banker’s annual report of more than 1,900 markets.
Of the top 25 spots of most expensive housing markets, California holds 13 of those spots.
“If you look at the overall history of the index, California has always been the most expensive state overall,” says Budge Huskey, president and chief executive of Coldwell Banker. “Anytime you move into a coastal market you’ll find there’s going to be higher prices.”
The following are the top five most expensive housing markets (including the average list price for a four-bedroom, two-bathroom home), according to Coldwell Banker:
- Malibu: $2.5 million
- Newport Beach, Calif.: $1.8 million
- Saratoga, N.Y: $1.7 million
- Los Gatos, Calif.: $1.36 million
- San Francisco: $1.3 million
Meanwhile, home shoppers looking for a deal may need to head to the Midwest, which boasted 15 of the 25 most affordable housing markets.
The following were the least expensive housing markets, according to Coldwell Banker:
- Cleveland: $63,729
- Garfield Heights, Ohio: $66,075
- Flint, Mich.: $84,437
- Saginaw, Mich.: $87,000
- Jackson, Miss.: $94,000
Source: “For expensive housing, you can't beat California,” USA Today (Nov. 6, 2013) and “5 Most Expensive and Most Affordable Housing Markets,” FOX Business (Nov. 6, 2013)