Have you ever wondered what your home might be worth if it was located in another city or state? Then you will definitely enjoy using our home value estimator tool we created for our annual Home Listing Report.
This annual report does an “apples to apples” comparison of four bedroom, two bathrooms homes in 1,900+ markets across the US.
While Malibu claimed the #1 spot for the most expensive market in United States, it was Cleveland, Ohio that came in at the #1 spot for most affordable. The disparity between the two cities was quite amazing. A four bedroom, two bathroom home in Malibu lists for $2.15 million, compared to $63,729 in Cleveland.
“Cleveland’s friendly, hometown feel draws people of all ages, and in recent years, the community has been revitalized with more young professionals entering the market,” said Ed Dolinsky, president of Coldwell Banker Hunter Realty. “Energized by a growing tech hub that effectively supports nearby renowned hospitals and research institutions, this Midwest city continues to reinvent itself through its diversified business sectors and strong sense of neighborhood communities.”
Here are some other interesting facts we discovered from this year’s Home Listing Report:
- The average listing price of a four-bedroom, two-bathroom home in the survey of more than 1,900 markets and 52,000 listings was $301,414.
- California holds 13 of the top 25 spots for the most expensive markets in the U.S.
- All top five of the most expensive markets are in The Golden State, with the two most expensive markets in the country located minutes from Los Angeles—Malibu (No. 1) and Newport Beach (No. 2).
- In contrast, 60 percent (15) of the 25 most affordable markets are in the Midwest.
- New York is the only state that had markets ranked on both the most expensive and most affordable lists.
And since you know we love lists, here are the top 25 Most Expensive and Most Affordable Markets:
See Rankings in Your State or check out the full study here.
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