Santa Rosa ranks in the top quarter of the nation’s most expensive real estate markets, according to a new study of Coldwell Banker listings.
The city ranked 64th out of 296 markets based on average listing prices this year of four-bedroom, two-bathroom homes. The average listing price here was $476,162, according to the report.
Newport Beach, Calif., led the list with an average listing price of approximately $1.83 million. By contrast, Detroit, Mich., was dubbed the nation’s most-affordable market, with an average four-bedroom home listed for $68,007.
Along with Newport Beach, five other California communities made the top 10: Palo Alto (2nd); San Francisco (4th); La Jolla (5th); Pasadena (8th) and Santa Barbara (10th).
Third on the list was Rye, N.Y, with an average listing price of $1,325,500.
In the North Bay, San Rafael ranked 11th, with an average listing price of $956,654, and Napa ranked 54th with a listing price of $528,111.
The report was based on average asking price of more than 18,000 four-bedroom, two-bathroom properties listed on from nearly 300 select U.S. markets where the real estate company has a presence. The markets included in the report had at least six applicable properties listed between February and August 2010.
The U.S. average for the surveyed listings was approximately $353,000.
Here you can find the list of the 296 housing markets.
— Robert Digitale