Palo Alto Tops Realtor List of Most Expensive Markets
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Palo Alto ranks as the most expensive housing market in the country, and six other California cities are also among the top 10 in price, according to Coldwell Banker’s 2001 Home Price Comparison Index.
The study evaluated the average sales price of similar homes in neighborhoods in more than 300 markets across the United States and internationally.
In Palo Alto, the typical four-bedroom, 2,200-square-foot house was priced at about $1.2 million.
This was followed by San Mateo, at $993,000; San Francisco, at $911,250; Beverly Hills, at $856,125; and La Jolla, at $844,250. Manhattan Beach was seventh, at $812,000; and Fremont was ninth, at $718,750.
Other cities in the Top 10 were Darien, Conn., at $812,500; Greenwich, Conn., at $784,333; and Wellesley, Mass., at $708,667.
The greatest variance of prices was in California, where there was a difference of more than $1 million between a home in Palo Alto and one in Bakersfield, at slightly more than $200,000.
The full study can be obtained at no charge at https://www.coldwellbanker.com.
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