In real estate, there’s nothing more important than location, location, location and the recent findings of Coldwell Banker’s 2015 Home Listing Report (HLR) prove just that.
Today, Coldwell Banker Real Estate LLC released its annual HLR, revealing that half (50) of the top 100 most expensive markets in the United States are in California, with Newport Beach topping the list where the average listing price of a four-bedroom, two-bathroom home is $2,291,764. In contrast, Cleveland ranked as the most affordable market for the third consecutive year, with an average four-bedroom, two-bathroom home listed at $74,502 – a listing price difference of $2.2 million when compared to country’s most expensive market.
Closer to home, Boulder lands on the “Most Expensive” list in the No. 27 spot with an average listing price of $1,044,656. Boulder is the only Colorado city in the top 100, and no Colorado cities are in the top 100 on the “Most Affordable” list. So while Colorado may not be the most affordable state in the U.S., it’s also certainly not the most expensive.
According to the HLR, the average listing price of a four-bedroom, two-bathroom home in Colorado is $418,344. The most affordable Colorado city is Pueblo/Pueblo West, which ranks No. 2,532 with an average listing price of $151,708. All told, thirty-one Colorado cities appear in the HLR. To see how those cities rank against each other, check out the Colorado section of the HLR.
The annual report is the most extensive home price comparison tool currently available in the United States, ranking the average listing price of four-bedroom, two bathroom homes in more than 2,700 markets. While other affordability reports provide average or median prices for all homes in a given area, the Coldwell Banker® HLR analyzes more than 81,000 four-bedroom, two-bathroom home listings to better address how much a home in one market would cost if the same home were located somewhere else in the country.
Check out the five most expensive and affordable markets in the U.S. below, and visit the full Home Listing Report page to see how your town ranks compared to the most expensive and affordable markets in the country.
Five Most Expensive Markets to Buy a Home
- Newport Beach, Calif. – average listing price: $2,291,764
- Palo Alto, Calif. – average listing price: $2,066,600
- Saratoga, Calif. – average listing price: $1,979,218
- Cupertino, Calif. – average listing price: $1,659,297
- Los Gatos, Calif. – average listing price: $1,569,615
Five Most Affordable Markets to Buy a Home
- Cleveland, Ohio – average listing price: $74,502
- Riverdale, Ga. – average listing price: $79,223
- Wilkes-Barre, Pa. – average listing price: $79,480
- Detroit, Mich. – average listing price: $81,616
- Alma, Mich. – average listing price: $90,523