Top 10 Most Expensive Markets For “Average Home” in 2007
If you are looking to buy the average home in the United States, these are the most expensive markets. The average home in this survey by Caldwell Banker is 2,200 square feet with 4 bedrooms, 2 1/2 baths, a family room, and a 2 car garage.
Looking over the list, California has 8 of the top 10 most expensive towns for the average home which is not a surprise with the fantastic run up in property values in 2007. Also on the list are Greenwich, Connecticut and Boston, Massachusetts in the northeast.
This has to account for the attention placed on housing out in California. When the average person is having to dig up nearly a million to get into a home housing becomes the leading discussion in the household. And if you held onto a home during the run-up you have a great deal of your wealth tied up in the real estate market.
Top 10 Most Expensive Markets For “Average Home”
- Beverly Hills, Calif. $2,206,883
- Greenwich, Conn. $2,018,750
- La Jolla, Calif. $1,800,000
- Santa Monica, Calif. $1,785,000
- Palo Alto, Calif. $1,677,000
- Newport Beach, Calif. $1,617,500
- Santa Barbara, Calif. $1,599,667
- San Mateo, Calif. $1,498,023
- San Francisco, Calif. $1,451,250
- Boston, Mass. $1,381,250
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Great blog, keep the great content coming! 
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Comment by Frank Caresse on 27 September 2007:
Cant believe not one is in Florida, go figure I guess not enough million dollar homes on the beach.
Comment by Katie B on 29 September 2007:
this is the reason why i moved out of california!
Comment by Sundream Estate on 5 October 2007:
I think to prices is coming down very soon, the California market is overvalue and Florida and other place is going to take over the top position over the 10 most expensive towns in USA.