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The most costly housing markets

September 14, 2008|Lauren Beale

The takeaway in the annual Coldwell Banker home price comparison index, released Tuesday, isn't much of a surprise.

Even in this dismal market, eight out of the top 10 most expensive U.S. housing markets are in California. Comparing the average sales prices of 2,200-square-foot, four-bedroom, 2 1/2 -bathroom homes, the survey of 315 American markets put La Jolla on top at $1,841,667, crowding out Greenwich, Conn., at $1,787,000.

Rounding out the California contingent in spots three through eight were Beverly Hills, Palo Alto, Santa Monica, Santa Barbara, Newport Beach and San Francisco. Boston snuck in at ninth and San Mateo snapped up the 10th spot.

On the "affordable" end of the price spectrum, the Midwest took the honors. Sioux City, Iowa, ranked the least expensive at $133,459, followed by Jackson, Mich.; Akron and Canton, Ohio; and Grayling, Mich.

The least expensive market in California, according to the report, was Bakersfield at $273,457.

-- Lauren Beale

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