Home Listing Report

Press Release

2013 COLDWELL BANKER REAL ESTATE HOME LISTING REPORT FINDS MALIBU MOST
EXPENSIVE MARKET IN UNITED STATES, CLEVELAND MOST AFFORDABLE

Exhaustive Survey of Nearly 2,000 Markets and 52,000 Listings Shows More Than $2 Million
Difference in Price Between Malibu and Cleveland

MADISON, N.J. (Nov. 6, 2013) - The glitz, glamour and white sandy beaches of Malibu, Calif., have attracted the rich and famous to this premier destination for years. Today, Coldwell Banker Real Estate released its 2013 Home Listing Report (HLR), which ranked Malibu as the most expensive place to live in the United States. According to the annual report, an apples-to-apples comparison of four-bedroom, two-bathroom homes in more than 1,900 real estate markets across the United States, a sample-sized home in the affluent beach community of Malibu lists for $2.15 million, compared to $63,729 in Cleveland, Ohio.

"With its laidback, yet star-studded lifestyle, Malibu is undergoing a transformation from a seasonal destination to a year-round locale," said Madison Hildebrand, an agent with Coldwell Banker Residential Brokerage in Malibu, star of Bravo's Million Dollar Listing and regular contributor on E!. "Situated on the Southern California coast with beautiful homes and even more stunning views, you're not only paying for world class properties, you're paying for a way of life."

Cleveland, Ohio, was ranked as the most affordable real estate market in the 2013 Coldwell Banker® Home Listing Report, where an average four-bedroom, two-bathroom home lists for $63,729.

"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."

Key Highlights from the 2013 Coldwell Banker® U.S. Home Listing Report:

"Whether moving for lifestyle or a new job, homebuyers can use the Coldwell Banker® Home Listing Report to compare the average listing prices of similar homes in different parts of the nation," said Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC. "As the country moves on from the recession, this year's report identified 20 markets where a four-bedroom, two-bathroom home costs more than $1 million, whereas in eight markets a similar home lists for less than $100,000."

  • 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.

Top 25 List of America's Most Expensive / Most Affordable Real Estate Markets:

The top 25 most expensive and most affordable real estate housing markets in the 2013 Coldwell Banker U.S. Home Listing Report includes:

Heather Roberts
Coldwell Banker Real Estate LLC
973.407.5590
Heather.Roberts@coldwellbanker.com

 

Katy Hendricks
CooperKatz for Coldwell Banker Real Estate LLC
917.595.3057
khendricks@cooperkatz.com

Rank 2013 Most Expensive Markets Avg. Listing Price 2013 Most Affordable Markets Avg. Listing Price
1 Malibu, Calif. $2,155,900 Cleveland, Ohio $63,729
2 Newport Beach, Calif. $1,773,824 Garfield Heights, Ohio $66,075
3 Saratoga, Calif. $1,684,261 Flint, Mich. $84,437
4 Los Gatos, Calif. $1,360,497 Saginaw, Mich. $87,181
5 San Francisco, Calif. $1,309,599 Jackson, Miss. $94,155
6 Stone Harbor, NJ $1,301,727 Sioux City, Iowa $97,969
7 Cupertino, Calif. $1,292,400 Jonesboro, Ga. $98,332
8 Orono, Minn. $1,251,873 Moberly, Mo. $99,593
9 Weston, Mass. $1,229,000 Buffalo, NY $101,631
10 Redwood City, Calif. $1,203,357 Kankakee, Ill. $103,187
11 Breckenridge, Colo. $1,177,795 Utica, NY $103,877
12 San Mateo, Calif. $1,132,523 Ashland, Wis. $104,774
13 Great Neck, NY $1,103,364 Hillsdale, Mich. $106,384
14 Pasadena, Calif. $1,092,087 Johnstown, Penn. $107,039
15 Greenwich, Conn. $1,087,300 Arcadia, Fla. $107,691
16 Wellesley, Mass. $1,079,600 McCook, Neb. $107,986
17 Sunnyvale, Calif. $1,077,025 Park Forest, Ill. $109,709
18 Santa Barbara, Calif. $1,061,475 Niagara Falls, NY $109,809
19 Danville, Calif. $1,018,300 Eatonton, Ga. $111,108
20 Kailua, Hawaii $1,004,567 Lehigh Acres, Fla. $111,410
21 Mercer Island, Wash. $999,276 Kansas City, Mo. $113,718
22 Campbell, Calif. $974,212 Dayton, Ohio $115,176
23 Larchmont, NY $972,150 Camden, Ark. $116,072
24 Westport, Conn. $966,582 Akron, Ohio $116,906
25 Newton, Mass. $912,745 Aurora, Mo. $117,013

*A list of the most expensive and affordable markets in each state can be viewed on the Home Listing Report website.

About the 2013 U.S. Home Listing Report (Methodology):
The Coldwell Banker® U.S. Home Listing Report analyzes the average listing price of four-bedroom, two-bathroom real estate properties on coldwellbanker.com between January 2013 and June 2013 for 52,257 listings in 1,997 markets. Coldwell Banker affiliates as well as other franchise brands associated with Realogy Holdings Corp contribute to listings on coldwellbanker.com. Markets without at least 10 four-bedroom, two-bathroom listings on coldwellbanker.com between January 2013 and June 2013 were excluded from the ranking.

About Coldwell Banker®
Since 1906, the Coldwell Banker organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of more than 84,000 sales agents working in approximately 3,000 offices in 51 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Coldwell Banker is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.

2013 COLDWELL BANKER REAL ESTATE HOME LISTING REPORT FINDS MALIBU MOST
EXPENSIVE MARKET IN NORTH AMERICA; VANCOUVER LEADS CANADIAN RANKING

Survey of 4-bedroom / 2-bath homes in over 2,000 Markets and 52,000 Listings Shows More Than
$2 Million Difference in Price Between Most Expensive and Most Affordable Markets

BURLINGTON, ON (Nov. 6, 2013) - The warmer climate, coastal locations and laid back lifestyle of West coast living continues to attract homebuyers in both Canada and the U.S., resulting in some of the highest home prices in North America. Today, Coldwell Banker Real Estate released its 2013 Home Listing Report (HLR), which ranked Malibu as North America's most expensive place to live. Western Canada continues to command some of the nation's highest prices, as subject homes in Vancouver and the surrounding area lead Canadian rankings. According to the annual report, an apples-to-apples comparison of four-bedroom, two-bathroom homes in over 2,000 real estate markets across the United States and Canada, a sample-sized home in the affluent beach community of Malibu lists for $2.15 million, compared to $952,069 for the subject home in the Greater Vancouver area.

"With its laidback, yet star-studded lifestyle, Malibu is undergoing a transformation from a seasonal destination to a year-round locale," said Madison Hildebrand, an agent with Coldwell Banker Residential Brokerage in Malibu, star of Bravo's Million Dollar Listing. "Situated on the Southern California coast with beautiful homes and even more stunning views, you're not only paying for world class properties, you're paying for a way of life."

"Western Canada locations continue to attract buyers from across Canada and internationally," said Susanita De Diego, Broker of Your Calgary Home Selling Team, "Energized by a thriving economy and solid employment generated by the oil and gas industries, buyers get the economic benefits, teamed with a sense of community, magnificent scenery and world class amenities."

Key Highlights from the 2013 Coldwell Banker® Home Listing Report:

"Whether moving for lifestyle or a new job, homebuyers can use the Coldwell Banker® Home Listing Report to compare the average listing prices of similar homes throughout North America," said Andy Puthon, president of Coldwell Banker Canada Operations ULC. "Although home prices have reached record highs in many markets across Canada, affordable options remain available to Canadian homebuyers, especially for those who are able to work from home, or who make the decision to trade location for commute. This comparison provides homebuyers with useful information about the many great opportunities that exist across Canada."

  • Canada's most expensive market, the Greater Vancouver area, far outdistanced the second most expensive market, Fort McMurray, Alberta at $630,184
  • Western Canada had five spots in Canada's top ten, all from BC & Alberta
  • Ontario had four of Canada's ten most expensive markets for the subject home
  • Grand Falls, NB was Canada's most affordable market studied, with an average list price of $160,171 for a 4-bedroom, 2-bath home
  • Only Vancouver placed in the ranking of the top 25 most expensive North American markets in the study.
  • California holds 13 of the top 25 spots for the most expensive markets in North America
  • Cleveland ranked as North America's most affordable at $63,729

    Top 10 List of Canada's Most Expensive / Most Affordable Real Estate Markets:

    Rank 2013 Most Expensive Markets Avg. Listing Price 2013 Most Affordable Markets Avg. Listing Price
    1 Greater Vancouver, BC $952,069 Grand Falls, NB $160,171
    2 Fort McMurray, AB $630,184 Windsor, ON $189,420
    3 Oakville, ON $624,187 Westville, ON $206,180
    4 Calgary, AB* $489,323 Amherst, NS $206,588
    5 Edmonton, AB $488,333 Paisley, ON $208,533
    6 Toronto, ON $472,913 Oshawa, ON $214,325
    7 Ottawa, ON $453,931 Aylmer, ON $227,533
    8 Port Perry, ON $449,583 Camrose, AB $236,257
    9 Kelowna/W. Kelowna, BC $447,660 Walkerton, ON $242,350
    10 Whitehorse, YT $442,824 New Glasgow, NS $245,329

    A list of 57 Canadian markets can be viewed on the Home Listing Report website.

    Top 25 List of North America's Most Expensive / Most Affordable Real Estate Markets:

    The top 25 most expensive and most affordable real estate housing markets in the 2013 Coldwell Banker Home Listing Report follows. The resurgent U.S. market accounted for 24 of the most expensive markets, with only Greater Vancouver placing in the North American Top Ten:

    Rank 2013 Most Expensive Markets Avg. Listing Price 2013 Most Affordable Markets Avg. Listing Price
    1 Malibu, Calif. $2,155,900 Cleveland, Ohio $63,729
    2 Newport Beach, Calif. $1,773,824 Garfield Heights, Ohio $66,075
    3 Saratoga, Calif. $1,684,261 Flint, Mich. $84,437
    4 Los Gatos, Calif. $1,360,497 Saginaw, Mich. $87,181
    5 San Francisco, Calif. $1,309,599 Jackson, Miss. $94,155
    6 Stone Harbor, NJ $1,301,727 Sioux City, Iowa $97,969
    7 Cupertino, Calif. $1,292,400 Jonesboro, Ga. $98,332
    8 Orono, Minn. $1,251,873 Moberly, Mo. $99,593
    9 Weston, Mass. $1,229,000 Buffalo, NY $101,631
    10 Redwood City, Calif. $1,203,357 Kankakee, Ill. $103,187
    11 Breckenridge, Colo. $1,177,795 Utica, NY $103,877
    12 San Mateo, Calif. $1,132,523 Ashland, Wis. $104,774
    13 Great Neck, NY $1,103,364 Hillsdale, Mich. $106,384
    14 Pasadena, Calif. $1,092,087 Johnstown, Penn. $107,039
    15 Greenwich, Conn. $1,087,300 Arcadia, Fla. $107,691
    16 Wellesley, Mass. $1,079,600 McCook, Neb. $107,986
    17 Sunnyvale, Calif. $1,077,025 Park Forest, Ill. $109,709
    18 Santa Barbara, Calif. $1,061,475 Niagara Falls, NY $109,809
    19 Danville, Calif. $1,018,300 Eatonton, Ga. $111,108
    20 Kailua, Hawaii $1,004,567 Lehigh Acres, Fla. $111,410
    21 Mercer Island, Wash. $999,276 Kansas City, Mo. $113,718
    22 Campbell, Calif. $974,212 Dayton, Ohio $115,176
    23 Larchmont, NY $972,150 Camden, Ark. $116,072
    24 Westport, Conn. $966,582 Akron, Ohio $116,906
    25 Greater Vancouver, BC. $952,069 Aurora, Mo. $117,013

    About the 2013 Home Listing Report (Methodology):
    The Coldwell Banker® Home Listing Report analyzes the average listing price of four-bedroom, two-bathroom real estate properties on coldwellbanker.com and coldwellbanker.ca between January 2013 and June 2013 for over 53,000 listings in 1,997 U.S. and 58 Canadian markets. Coldwell Banker affiliates as well as other franchise brands associated with Realogy Holdings Corp contribute to listings on coldwellbanker.com. Canadian markets without at least 5 four-bedroom, two-bathroom listings on coldwellbanker.com between January 2013 and June 2013 were excluded from the ranking. For the purposes of this survey, Canadian dollars are expressed at par with U.S.

    * The Calgary market did not conform to the study methodology of five or more listings with four bedrooms and two bathrooms on coldwellbanker.ca between January - June 2013. However, Coldwell Banker believes the price quoted is a reasonable representation of comparable home listings in that market during that time period.

    About Coldwell Banker®
    Since 1906, the Coldwell Banker organization has been a premier provider of full-service residential and commercial real estate. Today, Coldwell Banker has a network of more than 82,000 sales agents working in approximately 3,100 offices in 51 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Each office is independently owned and operated. Coldwell Banker is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.