10 Most Expensive and Affordable Places
to Live in the U.S. and Canada

       Coldwell Banker Real Estate LLC in its 2011 Home Listing Report (HLR), provided a snapshot survey of average listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets.
       Newport Beach, CA, 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 is 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.
       Between September 2010 and March 2011 the U.S. average for the surveyed listings was approximately $293,000. The Canadian average for the surveyed listings was $372,544.

10 Most Expensive Places to Live

       The top 10 most expensive real estate housing markets in the 2011 Coldwell Banker U.S. Home Listing Report for the September 2010 – March 2011 period are:
       1: Newport Beach, CA. ranked at the top of the list as the most expensive real estate housing market in the 2011 Coldwell Banker U.S. Home Listing Report (HLR).
       The average listing price for Newport Beach was $2,537,126.
       2: Pacific Palisades, CA. ranked the second most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Pacific Palisades was $1,606,992.
       3: Stone Harbor, N.J. ranked the third most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Stone Harbor was $1,344,908.
       4: Rancho Palos Verdes, CA ranked the fourth most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Rancho Palos Verdes was $1,312,538.
       5: Saratoga, CA ranked the fifth most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Saratoga was $1,281,889.
       6: Los Gatos, CA was ranked the sixth most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Los Gatos was $1,261,176.
       7: Weston, MA ranked the seventh most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Weston was $1,228,100.
       8: Greenwich, CT ranked the eighth most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Greenwich was $1,154,293.
       9: Mercer Island, WA ranked the ninth most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Mercer Island was $1,143,521.
       10: Cupertino, CA was the 10th most expensive real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Cupertino was $1,140,656.

10 Most Affordable Places to Live

       The top 10 most affordable real estate housing markets in the 2011 Coldwell Banker U.S. Home Listing Report for the September 2010 – March 2011 period are:
       1. Niagara Falls, NY ranked at the top of the list as the most affordable real estate housing market in the 2011 Coldwell Banker U.S. Home Listing Report (HLR). Niagara Falls is one of the world’s most majestic natural tourist attractions. View the video at http://www.youtube.com/watch?v=UuoZMwe3Qko
       The average listing price in Niagara Falls was $60,820.
       2: Riverdale, GA ranked the second most affordable real estate housing market in the Coldwell Banker U.S. HLR. Riverdale was a historic backdrop to the Civil War, and history buffs can go there to see the Marcus Long House, home to a fallen confederate soldier.
       The average listing price in Riverdale was $61,618.
       3: Coolidge, AZ. Home to the Casa Grande Ruins National Monument, which was created as the nation’s first archeological reserve in 1892, and declared a National Monument in 1918, Coolidge, Ariz., ranked the third most affordable real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Coolidge was $69,083.
       4: College Park, GA ranked the fourth most affordable real estate housing market in the Coldwell Banker U.S. HLR. Located just outside Atlanta, College Park is home to the world-class Georgia International Conventional Center.
       The average listing price in College Park was $72,477.
       5: Detroit, MI ranked the fifth most affordable real estate housing market in the Coldwell Banker U.S. HLR. The automotive capital of the America and the birthplace of Motown.
       The average listing price in Detroit was $73,363.
       6: Hastings, FL a haven for warm-weather lovers, with an average annual temperature of 69 degrees, was ranked the sixth most affordable real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Hastings was $74,910.
       7: Cleveland, OH. Home to the Rock and Roll Hall of Fame, Cleveland, Ohio, ranked the seventh most affordable real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Cleveland was $76,042.
       8: Lithonia, GA whose name means “city or town of stone,” and is the heart of the Georgian granite-quarrying and viewing region, Lithonia, Ga., whose name means “city or town of stone,” ranked the eighth most affordable real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Lithonia was $77,385.
       9: Trotwood, OH which is located near Wolf Creek, a beautiful fishing destination, ranked the ninth most affordable real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Trotwood was $77,445.
       10: Sioux City, IA. Home to many parks, including Stone State Park, a haven for hikers and picnickers, Sioux City, Iowa, was the 10th most affordable real estate housing market in the Coldwell Banker U.S. HLR.
       The average listing price in Sioux City was $80,152.

Canada’s Most Expensive
and most Affordable Markets

       The Coldwell Banker Real Estate Home Listing Report (HLR), provided a snapshot survey of average listing prices for four-bedroom, two-bathroom homes in 70 Canadian markets. Vancouver, British Columbia, repeated its top ranking as Canada’s most expensive housing market, with an average listing price of $1.5 million, while Windsor, Ontario remained the nation’s most affordable market with a similar home priced at $144,456. Windsor, located across the border from Detroit, has been impacted by auto industry woes, and is now promoting its great value housing to the retirement market.
       Those living around Ontario’s Golden Horseshoe are benefiting from some of the nation’s most affordable prices.”
       Jim Gillespie, CEO, Coldwell Banker pointed out that the six of the eight most affordable Canadian markets in the HLR are situated in that region, including Windsor, Welland ($196,321), Fort Erie ($215,236), St. Catharines ($220,883) London ($223,882) and Brantford ($226,700).
       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. Vancouver is joined on Canada’s most expensive list by Kelowna ($1.1 million), Burnaby ($797,455). 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.
       Side of the Falls Matters: The most affordable U.S. market is Niagara Falls, N.Y., which has an average home listing price of approximately US$61,000. Interestingly, in Niagara Falls, Ontario, (CDN$272,769) subject homes were listed at more than four times that price.
       Canadians thinking of buying property in the United States will be pleased to find a large number of markets where homeownership is at very affordable levels. There are 1,545 markets with average listing prices less than US$300,000 for a four-bedroom, two-bathroom home. These markets include many ‘sunshine state’ destinations typically sought after by Canadian “snowbirds”.
       Now is a good time to buy a home. Mortgage rates are at historic lows. The current 4.6 percent interest rate on a 30-year fixed rate mortgage is forecast to rise to 5.7 percent in 2012. The slide in home prices appears to be bottoming. Mortgages for more expensive homes are headed higher. Currently, lenders can write mortgages for as much as $729,750 and qualify as a “conforming” Fannie Mae or Freddie Mac loan. But come October 1, the maximum loan for a “conforming” mortgage will be $625,500.
       Potential home buyers will find the Coldwell Banker report most useful in locating a market they can afford.
       The entire report and a video with more information on the most expensive and most affordable housing markets and an interactive infographic with information on each state and market is available at www.coldwellbanker.com.