Coldwell Banker recently released its annual Home Price Comparison Index listing the most expensive housing markets in the United States. They looked at 2,200-square-foot houses with four bedrooms, two and a half bathrooms, a family room, and a two-car garage.
While cities such as Beverly Hills, CA and Greenwich, CT weren’t surprises, the affordability gap between similar homes in similar neighborhoods in more than 300 markets was over $200,000. New York was left off the list due to the lack of comparable housing units.
The Bay Area of California grabbed three spots on the lists top 10 most expensive cities: Palo Alto with $1,489,726, San Francisco with $1,363,250, and San Mateo with $1,090,000. La Jolla, CA grabbed the number one spot as the most expensive real estate market in the country with an average home price of $2,125,000. Thirteen other California markets made the list as well.