Coldwell Banker Real Estate Issues Home Listing Report
 
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Coldwell Banker Real Estate LLC recently released its Home Listing Report (HLR), a snapshot survey of average listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets.

Newport Beach, Calif., led the list of most expensive U.S. real estate markets for the second year in a row, with an average home listing price of approximately $2.5 million for property listings meeting the subject home criteria.

The most affordable U.S. market in the report was Niagara Falls, N.Y., which has an average home listing price of approximately $61,000.

The dramatic difference of more than $2.4 million between most expensive and most affordable U.S. housing markets is just one of the many findings in this comprehensive market comparison.

The Coldwell Banker Home Listing Report compiles extensive information on real estate data from around the U.S. and Canada for home buyers and sellers. The Coldwell Banker HLR provides the average home listing price of four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between September 2010 and March 2011 from more than 2,300 North American markets. The U.S. average for the surveyed listings was approximately $293,000.

Markets included in the U.S. report were required to have at least 10 properties fitting the above criteria within the relevant timeframe, and in Canada, at least five properties were required.

Newport Beach, known for its picturesque beaches which play backdrop to VIP visitors and residents, tops the list of most expensive U.S. markets for a second straight year, and is almost a million dollars more than the next most expensive market, Pacific Palisades (with an average listing price of $1.6 million).

Niagara Falls, N.Y., the most affordable U.S. market, remains one of the world’s most majestic natural tourist attractions. Locals are drawn to the area for its booming tourism industry, breathtaking views and accessibility to other areas, including the Greater Golden Horseshoe, Buffalo to the south and Toronto to the north.

"This year’s home listing report is by far the most in-depth local market source of data that Coldwell Banker has ever released,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “We’ve included nearly ten times more markets than ever before, which gives us unmatched real estate insight into thousands of North American cities. For instance, we can see that there are 775 U.S. markets averaging $200,000 or less for these types of aspirational homes. We know that home buying remains a deeply personal lifestyle decision, and we believe that reports like this, along with trusted real estate agents, will help today’s buyers make smart decisions.”

The Canadian market continues to experience record or near-record housing prices in major markets across the country. The West coast continues to post some of the country’s highest prices. Vancouver, BC again earned top spot as Canada’s most expensive city, showing $1.55 million for the subject home.

Also in Western Canada, Alberta’s strong economy and an abundance of Oil Sands jobs continues to fuel housing prices, with ‘boom town’ Fort McMurray leading the province with a price of approximately $652,000.

Moving to the interior, Ontario saw one of the largest price disparities. Oakville, one of Canada’s most affluent communities, located west of Toronto, earned top spot for the province with $624,914, while just a few hundred miles away, Windsor was Canada’s most affordable market at $144,460.

Windsor, located across the border from Detroit, Michigan, has been impacted by auto industry woes, and is now promoting its great value housing to the retirement market.

For more information on Coldwell Banker Real Estate LLC and its report, visit www.coldwellbanker.com.