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10 most expensive real estate markets don’t include top performing

What about the top performer?

Of the top ten most expensive real estate markets, we noticed that the list is missing the only city in the S&P Case-Shiller index that has home values increasing while every single other city evaluated has continued to decline. Washington D.C. is our nation’s only positive performer in the index, so it is interesting that it has broken with tradition.

Often, when we look at the most expensive real estate markets, it indicates they are on fire and highly desirable and not only are sales doing well, but housing prices overall are increasing. Not so this time around. We suspect D.C. is up there in housing prices, but the following ten cities are more expensive regardless.

Top 10 most expensive real estate markets

  1. Honolulu, HI – median home price $579,300
  2. San Jose, CA – median home price $545,000
  3. Anaheim, CA – median home price $511,800
  4. San Francisco, CA – median home price $465,900
  5. New York, NY – median home price $439,300
  6. San Diego, CA – median home price $374,800
  7. Boulder, CO – median home price $353,400
  8. Bridgeport, CT – median home price $342,100
  9. Boston, MA – median home price $322,100
  10. Barnstable, MA – median home price $299,00

NAR data reveals that despite Honolulu taking the top spot, they were actually more expensive overall earlier in the year, but it’s no surprise that somewhere like Honolulu can demand such a price. Silicon Valley has taken a dip, but it is good news for owners there that they remain near the top spot.

It is no surprise that many of the top spots are taken by California with real estate prices traditionally much higher than most of the rest of the country (barring NY and Boston of course). Boulder was a nice to see on the list, however, as it offers such a different lifestyle than all of the other cities listed and takes the top spot for mountain living.

As a Realtor, it is helpful to know the trend of the most expensive real estate markets as a point of comparison to your own, it gives you a real idea of the living costs in your city. AGBeat is headquartered in Austin where at any of the prices above, you would be in the higher end of the market, and take a visit to Tulsa and see what $500k cold buy you! Comparing markets is not only fun and informative but can help relocating clients understand the value of what they’re getting and leaving.

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  1. Jeff Brown

    June 15, 2011 at 11:16 am

    I'm tryin' to wrap my head around San Jose being more expensive than San Francisco. For that matter, Anaheim too.

    • George

      June 26, 2011 at 8:30 am

      If you lived here, it would be obvious. San Jose' has Cisco, Adobe, eBay … and is few miles away from Google, Apple (literally few blocks away), intel … the list goes on. These aren't manufacturing jobs in SJ anymore. We have no manufacturing jobs. These are high paying R & D jobs – not assembly line jobs. We design them here and ship them off to a cheaper places to build them (you know the drill – china, Mexico …). In short, SJ is made up of high paying engineers and scientists who can afford inflated prices. Also, being in the bay area, useful land to build houses are hard to come by (same goes for SF). So it wouldn't be surprising to see a regular 4 bed 2 bath in "nice" part of San Jose' go for close to a mil. And it isn't that SF is cheap, it's just that San Jose' is more expensive. We just have more people and more jobs. Also, you get more for your house in San Jose' than SF. In terms of square footage, I would say SF is more expensive than SF. But we're only 40 minutes away. People work in SF and live in SJ – and vice versa.

      The reason for Anaheim being more "expensive" is obvious. They got many monster homes in nice part of OC. When you talk about a half a million dollar home in Anaheim, it actually looks like a half a million dollar home. 2,000 sq ft (or close to it) – a huge lot … They got plenty of those. So I'm sure Anaheim actually has *more* houses that's more expensive than San Francisco. But this ranking is based on "median" price. A half a mil home in Anaheim is a nice house. A half a mil home in San Francisco is a 2 bed 1 bath fixer with no parking. That's the difference.

  2. Liz Benitez

    June 15, 2011 at 1:22 pm

    I'm not surprised D.C. isn't in the "Most Expensive". We definitely have our high end homes but they move slowly. If you look at who is moving in and out of the area you'll find the majority are military, federal, or contractors. None of whom have a high enough pay grade to purchase one of those "Most Expensive" homes.

  3. Kris

    June 22, 2011 at 6:47 am

    Very surprised to see San Fran above New York. They should do the next article on the Best Deals… Florida still some great opportunities.

  4. Jenet Levy

    July 3, 2011 at 5:10 pm

    To me the Case Shiller index is so flawed that it is meaningless. For New York City real estate, it measures everything but NYC real estate. It only takes into account single-family homes, not co-ops or condos which is what you own if you own in Manhattan. It also considers the NYC metropolitan area to be other states. So the Case Shiller index for NYC essentially doesn't look at NYC. I am a NYC agent, and that would be the last thing I would look at to know anything about my market.

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