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Most Expensive U.S. Housing Markets 2010: Coldwell Banker Report

The Huffington Post   |  Nicole Hardesty First Posted: 10-20-10 12:58 PM   |   Updated: 10-20-10 04:15 PM

Read More: Greenwich, Honolulu, Housing Markets, Most Expensive, Newport Beach, Palo Alto, Real Estate, Slidepollajax, Business News

Plans to relocate to California? The state dominates as the most expensive housing markets in America, according to a new report by Coldwell Banker.

Coldwell Banker's latest annual report surveyed regional prices for four-bedroom, two-bathroom homes across the country. Up from the number eight spot last year, Newport Beach, California takes the lead as the most expensive city in America with the average home price of $1,826,348. Boston and Beverly Hills both fell out of the top 10. (You can see last year's list here.)

Check out the most expensive real estate markets in America -- or check out Coldwell Banker's full data:

#10 Santa Barbara, California
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Average home price: $1,024,661
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Plans to relocate to California? The state dominates as the most expensive housing markets in America, according to a new report by Coldwell Banker. Coldwell Banker's latest annual report surveyed ...
Plans to relocate to California? The state dominates as the most expensive housing markets in America, according to a new report by Coldwell Banker. Coldwell Banker's latest annual report surveyed ...
CA dominates top 10 most expensive housing markets. is Newport Beach $1.8m ave.
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rahgolf   6 hours ago (1:24 PM)
1 Fans
Not bad 'cept for the quakes!
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HUFFPOST SUPER USER
Hysterian68   19 hours ago (12:34 AM)
102 Fans
New York City commercial real estate has plummeting prices and still they're building 1000 or more foot office buildings. Reminds me of Miami still building thousands of condos as the ground beneath those projects started to shake, due to declining customer interest and declining customer interest. The builders had been warned, but still they continued to build.

These cities and others will need foreign buyers because interest here in the US is zilch. Let's hope asian , mideast, and europeans continue to have a love affair with U.S. luxury properties.
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teva   21 hours ago (10:15 PM)
16 Fans
What happened to Stone Harbor, NJ?
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davidhilton1   18 hours ago (12:48 AM)
323 Fans
... or Rancho Santa Fe California?
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HUFFPOST COMMUNITY MODERATOR
liveordie   22 hours ago (9:31 PM)
336 Fans
The New Port Beach picture was the most intrusive. That glaring monster on the hillside was too much.
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MorningSmile777   06:28 PM on 10/20/2010
30 Fans
Darn...we should have brought a house in Palo Alto in the 80's when we had a chance...talk about a missed opportunity!!!
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Piglet2   06:23 PM on 10/20/2010
93 Fans
Doesn't Oprah have homes in half those cities?
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Edward Nikolas Anthony   16 hours ago (3:06 AM)
8 Fans
No. You are mistaken. She owns half those cities. :-)
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1Woman4Obama   05:55 PM on 10/20/2010
78 Fans
This should be re-worded as the top 10 of 296 markets analyzed. I know of towns in California a lot more expensive than most of those listed.
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verycold   05:50 PM on 10/20/2010
78 Fans
All these locations have one things in common. They are primarily inhabited by the liberal left of our society. Now you can argue they were smart to get there first or smart enough to buy into that inflated market and watch their investment grow. Or you could argue that they breath a completely different air than other inhabitants around our country and thus have zero in common with the rest of us. What is further interesting is that NY and CA are financially in the worst shape of just about all the other states and yet these lucky liberal millionaires living in these special communities are untouched. Does it look like their are sharing?

BTW, many wonderful beach communities today won't even let the "average" citizen walk on their beach. So no more parking the car and enjoying the beach with your family like these rich, privileged residents get to do every day. Nope, if you aren't rich you are not welcomed. Does that sound inclusive?
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1Woman4Obama   06:02 PM on 10/20/2010
78 Fans
What do you mean that the average citizen can't walk on the beaches? Very few beaches are actually private and generally access to the ocean must be allowed. The beaches in So. Cal are filled with "average" people.
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milezero   06:50 PM on 10/20/2010
5 Fans
Liberal left? I guess you've never been to Orange county.
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clivechristy   22 hours ago (9:23 PM)
144 Fans
Oh don't be so hard on him, judging by his angry and inaccurate appraisal, I doubt he has been out of his mother's basement in a while. He also fails to mention that about half of those cities have geographical limitations to development or further expansion, thus making the land more valuable. Liberal left indeed.
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Wesley Vento   06:54 PM on 10/20/2010
0 Fans
You need to get your facts straight before you start blathering on about left and right. Orange County, specifically Newport Beach, is the most conservative, right, Republican place in the state. Richard f-ing Nixon is from Orange Co. Pasdena, La Jolla, Santa Barbara are also not what I would call liberal, but then again I live in California and have been to all of these places many many times. The only "liberal" city on here is San Francisco, but I'd be willing to bet most of the people there forking over millions of dollars for a home are probably not card carrying Green Party members. Most of the "liberal" people there pay rent to all the rich, Republican landords that actually own property in that city.

You also haven't been to Newport Beach. If you had, you would know that it has one of the most popular (and crowded) PUBLIC beaches in all of Southern California.

I'm sorry its so cold where ever you are from, but you need to thaw out your brain some before you hurl the left vs right argument so liberally.
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pamelagoodenough   23 hours ago (8:31 PM)
52 Fans
Thanks, Wes, for setting this dyldo straight.
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700rpm   22 hours ago (9:06 PM)
87 Fans
Verycold, you get the "Stupidest Post of the Day" award.
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Jackalheadedgod   04:44 PM on 10/20/2010
25 Fans
Recent headline something to the effect that luxury was back at pre 2007 levels and climbing. Newport Beach is physically beautiful and stuffed to the gills with luxurious housing and shopping. It is every bit as glamorous as it is made out to be. La Jolla is nice too. Pasadena is hot and smoggy and outwardly prim and has no beach, well, except for Newport Beach. So, there you have it. The lay of the land in SoCal as seen from the top. The rest of us live with it cheek by jowl, but it is further and further away. Decoupling is almost complete.

So tell me, how was the class war for you?

Cheers,
Jack
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theconlib   05:25 PM on 10/20/2010
5 Fans
HORRIBLE. I make a very good living and I'm nowhere near buying a house in SoCal. So much for that American dream.
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Matt1964   06:53 PM on 10/20/2010
21 Fans
I live in San Diego, and the neighborhoods change very dramatically every few blocks. Example: Point Loma. On the Beach Front side is out of reach, but on the Bay Side is reasonable, and by the Airport is dirt cheap. All within 1 mile.

Pasadena and Newport Beach are nowhere near each other.
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Wesley Vento   24 hours ago (7:14 PM)
0 Fans
Southern California is a huge, vast, and very diverse region. The few places named here are merely the small, exclusive locations where very wealthy people call there homes. If you make a decent living, you can afford a home here. I do, and I drive 30 min to enjoy the beach. I don't need to live on the water to have that dream. Its very affordable in So Cal compared to the Bay Area also. These studies are flawed somewhat, in that they give a general perception while using very specific data.
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700rpm   22 hours ago (9:08 PM)
87 Fans
Why do you think it's called a dream?
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HUFFPOST SUPER USER
Ljilja   04:28 PM on 10/20/2010
66 Fans
Well, I live in Michigan. The housing market is not doing too well here!

http://gra­ciouslivin­gdaybyday.­com/
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HUFFPOST SUPER USER
munki   04:21 PM on 10/20/2010
60 Fans
cannot afford it... oh well...
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amygdalalama   04:16 PM on 10/20/2010
17 Fans
Most of these very expensive real estate markets are in coastal California. According to Republican rhetoric, rich people and businesses are leaving California in droves. Yet these market prices show willingness to pay for beachfront property in California (and Hawaii) by people that can afford to spend $1M plus on a house.

Republican rhetoric is wrong. People are willing to pay extra for a nice view and beach access.
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HUFFPOST SUPER USER
munki   04:23 PM on 10/20/2010
60 Fans
Newport Beach definitely is in Republican rhetoric...
San Francisco is more open - Democratic...

Very expensive to live in CA not only the price, taxes, and cost of living, etc.
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Wesley Vento   24 hours ago (7:16 PM)
0 Fans
Its not very expensive to live in Riverside County, or San Bernardino County. Those Southern California areas aren't right next to the coast, but they are affordable and within reasonable distance to the coastal areas. You can make a great living here and afford a home if you are responsible and work hard.
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pharris610   04:44 PM on 10/20/2010
0 Fans
I think you're reading too much of a political message into this story. The clearer point from this is that these places are more expensive to live in. Your take away is quite a bit of a stretch.
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theconlib   05:26 PM on 10/20/2010
5 Fans
They also say that Nevada is so "business friendly" yet they might actually be doing worse than us. Gotta double check that. Either way they're not doing good.
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rbchilds   19 hours ago (12:02 AM)
51 Fans
Manufacturing jobs are leaving California and have for the last 30 years. Research the manufacturing base in So.Cal in the 1980's vs today. Owning a $1M home is California does not make one rich, I know several people whom have never made over $75K/yr who own $1M plus homes in Orange County because they bought in the early 70's, sold before the crash in the early 90's and upgraded before prices rebounded to astronomical levels.
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HUFFPOST SUPER USER
javajava   03:34 PM on 10/20/2010
483 Fans
I rent in Palo Alto and even rents are off the hook here.
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HUFFPOST SUPER USER
Majestry   03:45 PM on 10/20/2010
375 Fans
I'll probably be out there soon. I'm sure I'll have to move from NYC to Silicon Valley when I get funding.
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dtmfman   03:25 PM on 10/20/2010
228 Fans
NONE of them....I repeat NONE of them are worth 1/10 of what people paid for them...OR what they're asking for them....

The concept of real estate as an investment is bogus...it's an artificial market...created from subjective pricing and based on pure greed....wise up people....housing was meant for just that...she­lter....tr­eat it that way...and you'll be 1000 times better off...
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HUFFPOST SUPER USER
slocomgp   03:49 PM on 10/20/2010
212 Fans
Yea, but housing is a necessity. Why buy someone else a house by renting, if you can afford to own?
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dtmfman   04:00 PM on 10/20/2010
228 Fans
a necessity?....you ARE 100% CORRECT! ,,,and therefore it should be considered a strategic necessity in the US...NO SPECULATION, NO PRICE FIXING, NO GAMBLING, NO WALL STREET MANIPULATION OF THE MARKET WITH STRATEGIC NECESSITIES! IT SHOULD BE A FEDERAL CRIME TO MANIPULATE HOUSING PRICES...JUST AS IT IS A CRIME TO DISCRIMINATE AGAINST ANY BUYER!

WAKE UP PEOPLE...THIS IS YOUR COUNTRY...YOU LIFE, YOUR EXISTENCE, YOUR SURVIVAL WE'RE TALKING ABOUT HERE....DO YOU REALLY WANT SOME JERKOFF WALL STREET/BAN­KSTER/FLIM­FLAM MAN/ SCREWING YOU?
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HUFFPOST SUPER USER
YourMoralCompass   03:52 PM on 10/20/2010
57 Fans
dtmfman - they don't know what they don't know.
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dukeitout   04:09 PM on 10/20/2010
34 Fans
Now you tell me!
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1Woman4Obama   06:08 PM on 10/20/2010
78 Fans
Why do you think none of them are worth 1/10 of what people paid for them? You don't know these markets so you can't really say that. And most of the places here are not investments -- there are homes for people who want to live near the coast and/or not have long commutes into LA, San Diego, the Silicon Valley and San Francisco. Price is set by demand -- if demand is there, the price isn't a bubble.
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dtmfman   06:45 PM on 10/20/2010
228 Fans
at the risk of sounding offensive....and because you're an obama supporter like me...you won't like how I say this...but...

complete and utter BS...the housing "market" is artificially set...it's not tied to ANY sound costing method....just what someone thinks something is worth...then that's escalated by price fixing done by real estate brokers and appraisers.....You can't tell me a thing about housing....you know why?...because I know what it actually costs to build a house from scratch.....and I've live in some of those places you mentioned...san fran, santa monica, point loma in SD...and san jose a while....

"If demand is there the price isn't a bubble"
You're kidding right?...demand deschmand...it always has been and always be a bubble as long as there is no rhyme or reason tied to it's costs...just some made up...nebulous number based on artificial "markets"....and greed....please...

as to your remark about "most of the places there aren't investments"?.....I can't say for sure...but neither can you...that is unless you have access to everyone's personal income streams....what I can tell you...is that many "businesses" have been born out of the housing bubble greed...flipping houses IMO is one of the more destructive things that could have happened to the concept of shelter that is a necessity....but leave it to good ol amerikan greed...to come up with that one...
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FreedomDawg   03:15 PM on 10/20/2010
34 Fans
It is so unfair that these areas have been allowed to become so expensive. This basically makes it so only well to do people can live there, and that is quite exclusionary. I think the government should mandate that average home costs in these areas can only be 10 percent at most above the average for such homes across the USA. While it would obviously reduce the equity that homeowners have unfairly gained in their homes in the expensive areas it would have the benefit of reducing those homeowners' property tax bills, etc. and help stimulate governments in these areas to handle their affairs more cheaply. And it would make it easier (and fairer) for people from elsewhere in the USA to move to these areas. Fairness is, after all, what our government should be seeking to achieve, above all else.
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HUFFPOST SUPER USER
NorCalPG   03:35 PM on 10/20/2010
3 Fans
Who ever told you life was fair?? So it is unfair because the laws of supply and demand have caused these particular markets to rise in value? That makes me laugh. You do realize there is only so much space in a given area, correct? If this given area is right next to a beach or some other desired location, it is only a matter of time before the number of people who would like to live there and the number of dwellings available become out of sync. Sound like you desire socialism more than fairness...
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HUFFPOST SUPER USER
slocomgp   03:51 PM on 10/20/2010
212 Fans
thank you
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TFDNYC   05:46 PM on 10/20/2010
61 Fans
Even in socialism the now expensive areas would still be occupied by the elites. Though defined differently, power is power is power and it is always an unequal arrangement.
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dtmfman   06:59 PM on 10/20/2010
228 Fans
the laws of supply and demand?...you mean the laws of greed and gouge don't you....which is EXACTLY the REAL definition of supply and demand....they're doing it with oil....they're doing it with gold, diamonds, etc....

There should be some things considered as strategic and necessities of life; food, shelter, clothing...I don't need diamonds except to cut glass...and I don't need gold...I don't even have a gold filling...IMO strategic necessities should not be subject to the concept of supply and demand...

To your point about so much space in a given area?....huh?...set a reasonable and fair price for the land and shelter....when it's sold...it's sold...per­iod...this is exactly why we're in the spot we are today....fairness, frugality, and basic common sense have been replaced with systemic greed....and your socialism dig is a red herring....to try to classify anyone who may be adverse to rampant greed...a socialist?­....please­...that's where you lose any credibility with me...
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FreedomDawg   23 hours ago (8:15 PM)
34 Fans
It was no more than a subtle (too subtle?) attempt at irony in the HP echo chamber. Complaining about supply and demand in housing markets is, of course, as useless as it is in the oil or currency markets.
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robinhood1   03:36 PM on 10/20/2010
27 Fans
Perhaps you would be happier in Cuba.
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FreedomDawg   23 hours ago (8:15 PM)
34 Fans
And you call yourself Robin Hood? What could be better than stealing from the well off to give to those who live in cruddier houses?
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