American Real Estate – Metro area’s Home Prices (2/2)
The 10 most expensive housing markets in the US
The most expensive housing markets in America are mainly packed packed into one state: California.
The Golden State dominates Coldwell Banker’s annual Home Listing Report , which ranks the most expensive places to purchase homes in America, claiming every spot in the top 10 and 18 total out of the top 25.
To determine the most expensive cities, Coldwell Banker Analyzed the average listing price of more than 50,000 four-bedroom, two-bathroom homes for the period between January 2016 and June 2016. The noble caught 2,168 markets across the US, 10 listings.
So what makes California so desirable?
“It all goes back to the old adage in real estate about location, location, location,” Charlie Young, CEO of Coldwell Banker, told Business Insider. “In California, you’ve got a confluence of an amazing climate, strong economy with High-paid jobs, and a tech sector attracting a competitive environment.
Looking for multiple, six cities within the top 10 can be found inside Silicon Valley, which makes sense given the multitude of growing tech companies that are paying top dollar to attract new employees – and homebuyers – to the area.
“In Silicon Valley, you’ve got got the big players in the new tech economy,” Young said. “For the foreseeable future, they’re got And that’s going to drive those markets. ”
And at the end of the day, “you can not discount the fact that it’s California,” Young noted. It’s always been aspirational place to live – and that is not likely to change any time soon.
1. Saratoga, California
Population: 30,968
Average cost of a 4-bedroom, 2-bathroom house: $ 2,453,718
Median household income: $ 167,917
2. New Port Beach, California
Population: 60,572
Average cost of a 4-bedroom, 2-bathroom house: $ 1,812,833
Median household income: $ 134,872
3. Cupertino, California
Population: 60,572
Average cost of a 4-bedroom, 2-bathroom house: $ 1,812,833
Median household income: $ 134,872
4. Redwood City, CA
Population: 85,288
Average cost of a 4-bedroom, 2-bathroom house: $ 1,807,068
Median household income: $ 81,955
5. Arcadia, California
Population: 58,408
Average cost of a 4-bedroom, 2-bathroom house: $ 1,748,680
Median household income: $ 80,147
6. Carmel, California
Population: 3,722
Average cost of a 4-bedroom, 2-bathroom house: $ 1,722,500
Median household income: $62,460
7. San Francisco
Population: 864,816
Average cost of a 4-bedroom, 2-bathroom house: $1,672,100
Median household income: $78,378
Population: 20,590
Average cost of a 4-bedroom, 2-bathroom house: $1,571,846
Median household income: $151,786
Population: 151,754
Average cost of a 4-bedroom, 2-bathroom house: $1,566,616
Median household income: $103,257
Population: 30,705
Average cost of a 4-bedroom, 2-bathroom house: $1,470,524
Median household income: $122,860
Population: 103,536
Average cost of a 4-bedroom, 2-bathroom house: $ 1,425,200
Median household income: $ 90,087
Population: 62,695
Average cost of a 4-bedroom, 2-bathroom house: $ 1,349,048
Median household income: $ 135,258
Population: 29,000
Average cost of a 4-bedroom, 2-bathroom house: $ 1,294,684
Median household income: $ 159,615
