The average selling price of an existing home nationally is $93,163, while the average new home sells for $103,633, according to a fall survey by Better Homes and Gardens Real Estate Service.
"Location, location, location" is more than just a real estate cliche, with the existing homes averaging as low as $47,500 in Buffalo, N.Y., to as much as $435,000 in Saddle River, N.J., a few hundred miles away. Saddle River is an upper-income suburb of New York City.
The survey didn't report new-home prices in Los Angeles, but existing-home prices averaging $135,000 were reported for "northwest" Los Angeles and $230,000 for Palos Verdes Estates.
On Market 96 days
Average prices are based on broker estimates of the cost of a three-bedroom, 1,600-square-foot house in a desirable neighborhood, according to the Des Moines, Iowa-based firm.