Some of the nation’s priciest real estate markets are in Northern California, attributed to a booming technology industry base there, according to Coldwell Banker Real Estate’s latest Home Listing Report. For example, in Los Altos, Calif., the average listing price of a four-bedroom, two-bathroom home is about $1.7 million.
“Listing prices in our market are a product of ongoing high demand, projected population growth, and the low inventory levels of homes in what is one of the most desirable locations to live,” says Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area.
But while California boasts some of the most expensive markets, the state ranks third based on average listing prices, behind Hawaii and Massachusetts. According to the report, coastal states have the majority of the nation’s priciest housing markets.
The following are the most expensive states in the U.S., along with the average listing price:
- Hawaii: $742,551
- Massachusetts: $489,063
- California: $431,625
- New Jersey: $421,108
- Connecticut: $411,884
- Colorado: $387,309
- New York: $359,682
- Minnesota: $357,461
- Maryland: $354,465
- Washington: $342,716
Source: Coldwell Banker Real Estate