Prospective homebuyers might want to stay away from California if their budget is limited, gobble up property in the affordable Midwest or go middle of the road in Central Pennsylvania.
That’s what the latest Coldwell Banker Real Estate Home Listing Report seems to suggest.
The top 10 most expensive real estate markets are in California, with Saratoga leading the way at an average price of $2.5 million for a four-bedroom, two-bathroom home. Saratoga is on the western edge of the Silicon Valley, an area with six of the top 10 most expensive markets.
A similar-sized home in Detroit would cost $64,110, making the Motor City the most affordable market, followed by Cleveland, at a price of $73,073. Wilkes-Barre and Scranton are No. 6 and No. 7, the only Pennsylvania markets in the top 10.
Midstate markets are lumped in the middle of the pack out of nearly 2,200 markets. Hummelstown is the highest at No. 714, with Enola, Mechanicsburg, Palmyra and Lancaster all within the top 1,000.
York is among the more affordable markets nationally at No. 1,478. Hanover, Lebanon and Red Lion were not far off.
Here’s the full list from Coldwell Banker. And here’s the Pennsylvania list.
The national average listing price of a four-bedroom, two-bathroom home, according to the report, is $320,120.