Below are some interesting facts about the housing market across the country. Where does your home state fall? Out of the 10 most expensive real estate markets, six are from California. At least the La Quinta real estate market is more affordable compared to other markets in California.
RISMEDIA, September 24, 2010--Coldwell Banker Real Estate LLC released its Home Listing Report, a snapshot survey of U.S. four-bedroom, two-bathroom home listings, which found a $1.7 million difference between America's most expensive and most affordable housing markets.
Newport Beach, California, led the list of most expensive real estate markets in America, with an average home listing price of approximately $1.83 million for property listings meeting the subject home criteria. By contrast, America's most affordable housing market was Detroit, Michigan, with an average home listing price of approximately $68,000.
The U.S. average for the surveyed listings was approximately $353,000. Markets included in this report were required to have at least six properties fitting the above criteria within the relevant timeframe.
Known for its sandy beaches and historic Balboa Pavilion (established in 1906), Newport Beach, the most expensive market, has been the backdrop to numerous television shows including "The O.C." and "Arrested Development."
Detroit, the most affordable market, is the only major U.S. city that looks South to Canada. Residents of the Motor City take great pride in Red Wings hockey and appreciate the city's hard-working industrial and automotive history.
Other U.S. Home Listing Report Highlights:
* Grayling, Mich., is home to many top cross-country skiing destinations.
* Sioux City, Iowa, has been recognized as a top U.S. economic community for areas between 50,000 and 200,000 people.
* Kansas City, Mo., is just behind Rome, Italy, for the largest number of fountains in a city (more than 200).
* Canton, Ohio, is home to the Professional Football Hall of Fame.
* Port Huron, Mich., features the School of Strings, which presents over 50 concerts a year with its Fiddle Club, Faculty and Student Ensembles.
* Topeka, Kan., was once temporarily renamed "Topikachu," in honor of the Pokémon franchise.
* Great Midwest: Michigan has three markets on the most affordable housing list (Detroit, Grayling and Port Huron), and all 10 of the most affordable markets are in the Midwest.
* Pacific Paradise: Out of the 10 most expensive real estate markets, six are from California: Newport Beach, Palo Alto, San Francisco, La Jolla, Pasadena and Santa Barbara.
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