Welcome!

Wearables Authors: Elizabeth White, Pat Romanski, Miska Kaipiainen, Peter Silva, Liz McMillan

News Feed Item

Annual Coldwell Banker Real Estate Home Listing Report Finds $1.6 Million Difference Between Similar Homes in Silicon Valley and Midwest

Six of the 10 Most Expensive Markets in the Country Reside in the Bay Area as Home Listing Prices Reflect the Success of the Technology Industry; Survey of Four-Bedroom, Two-Bathroom Homes Covers 72,000 Properties in 2,500 U.S. Markets

PARSIPPANY, NJ -- (Marketwire) -- 11/28/12 -- The success of the technology industry and desirable location are continuing to influence home listing prices in the San Francisco Bay Area, elevating it to one of the priciest real estate markets in the country. Today, Coldwell Banker Real Estate LLC released its annual Home Listing Report (HLR) revealing several of the country's most expensive real estate markets are in Northern California. Google, Apple, Facebook and Stanford University are all located within 15 minutes of this year's most expensive market, Los Altos, Calif., where the average listing price of a four-bedroom, two-bathroom home is $1,706,688.

"The success of many of our native tech companies has shined a spotlight on Silicon Valley and our real estate market in the San Francisco Bay Area," said Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area. "Listing prices in our market are a product of ongoing high demand, projected population growth and the low inventory levels of homes in what is one of the most desirable locations to live."

In contrast, the most affordable market this year is Redford, Mich., where a similar home, four-bedrooms, two-bathrooms, is listed at $60,490 -- a listing price difference of more than $1.6 million. In fact, 28 homes can be purchased in Redford for the price of a similar home in Los Altos.

Overall, the report found the average listing price of a four-bedroom, two-bathroom home in the U.S. to be $292,152. Affordability remains strong in many markets across the country as 36 percent of the markets analyzed by the report had an average home listing price of less than $200,000 for four-bedroom, two-bathroom homes.

About the Coldwell Banker Real Estate Home Listing Report:

Serving as an analysis of the most expensive and affordable markets across the country, the Coldwell Banker HLR provides a snapshot of the average listing price of four-bedroom, two-bathroom homes across the country. This year's report analyzes more than 72,000 home listings in more than 2,500 U.S. markets, comparing the listing prices of similar homes in markets across the country from January 2012 to June 2012.

"Each year, our home listing report captures an insightful look at local market conditions and emerging trends in real estate," said Budge Huskey, president of Coldwell Banker Real Estate LLC. "We recognize that buying a home is a significant life decision, and we do this apples-to-apples comparison of similar homes to provide homebuyers with useful information about the many great opportunities that exist around the U.S."

About America's Most Expensive Markets:

The five most expensive markets are all in California, with four in the San Francisco Bay Area. Los Altos, Calif. tops the list, followed by Newport Beach ($1,658,000), Saratoga ($1,582,434), Menlo Park ($1,506,909) and Palo Alto ($1,495,364). But even with these high priced markets, California was not the most expensive state. The average listing price of a four-bedroom, two-bathroom home in California ($431,625) is less than both Hawaii ($742,551) and Massachusetts ($489,063).

----------------------------------------------------------------------------
      Most Expensive        Avg. Listing  Most Affordable       Avg. Listing
Rank  States                       Price  States                       Price
----------------------------------------------------------------------------
  1   Hawaii                    $742,551  Nebraska                  $145,360
----------------------------------------------------------------------------
  2   Massachusetts             $489,063  Iowa                      $162,621
----------------------------------------------------------------------------
  3   California                $431,625  Georgia                   $169,625
----------------------------------------------------------------------------
  4   New Jersey                $421,108  Kansas                    $169,650
----------------------------------------------------------------------------
  5   Connecticut               $411,884  North Dakota              $179,345
----------------------------------------------------------------------------
  6   Colorado                  $387,309  Mississippi               $182,536
----------------------------------------------------------------------------
  7   New York                  $359,682  Oklahoma                  $182,765
----------------------------------------------------------------------------
  8   Minnesota                 $357,461  South Dakota              $185,791
----------------------------------------------------------------------------
  9   Maryland                  $354,465  Texas                     $186,144
----------------------------------------------------------------------------
  10  Washington                $342,716  Arkansas                  $186,767
----------------------------------------------------------------------------

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

About America's Most Affordable Markets:

The most affordable market of Redford, Mich. is followed by College Park, Ga. ($62,080); Detroit, Mich. ($65,155); Cleveland, Ohio ($70,066); and Poinciana, Fla. ($76,341).

Four of the top 20 most affordable markets are located in Michigan, where bidding wars are making headlines, particularly in pockets of the metro-Detroit region.

"Where Michigan was one of the first states impacted by the recession, it's also been one of the first states to recover," said Kelly Sweeney, chief executive officer of Coldwell Banker Weir Manuel. "As for Redford, with its proximity to metro Detroit and Ann Arbor, the town proves that you don't have to give up amenities to live in an affordable community. Nobody ever gets priced out of Redford, putting the American Dream within grasp of nearly everybody."

In the South, Georgia and Florida each have four of the 20 most affordable markets.

Top 20 Lists
The top 20 most expensive and most affordable real estate housing markets in the 2012 Coldwell Banker U.S. Home Listing Report are:

----------------------------------------------------------------------------
                            Avg. Listing                        Avg. Listing
Rank  Most Expensive               Price  Most Affordable              Price
----------------------------------------------------------------------------
  1   Los Altos, Calif.       $1,706,688  Redford, Mich.             $60,490
----------------------------------------------------------------------------
      Newport Beach,
  2   Calif.                  $1,658,000  College Park, Ga.          $62,080
----------------------------------------------------------------------------
  3   Saratoga, Calif.        $1,582,434  Detroit, Mich.             $65,155
----------------------------------------------------------------------------
  4   Menlo Park, Calif.      $1,506,909  Cleveland, Ohio            $70,066
----------------------------------------------------------------------------
  5   Palo Alto, Calif.       $1,495,364  Poinciana, Fla.            $76,341
----------------------------------------------------------------------------
  6   Los Gatos, Calif.       $1,444,214  Hastings, Fla.             $78,840
----------------------------------------------------------------------------
  7   Rye, NY                 $1,312,250  Jonesboro, Ga.             $79,686
----------------------------------------------------------------------------
  8   Kailua, Hawaii          $1,238,208  Park Forest, Ill.          $81,107
----------------------------------------------------------------------------
      Carmel-by-the-Sea,
  9   Calif.                  $1,232,167  Augusta, Ga.               $83,936
----------------------------------------------------------------------------
  10  San Carlos, Calif.      $1,230,880  Johnstown, Pa.             $84,173
----------------------------------------------------------------------------
                                          Cleveland Heights,
  11  Greenwich, Conn.        $1,200,525  Ohio                       $84,535
----------------------------------------------------------------------------
  12  Cupertino, Calif.       $1,151,145  Saginaw, Mich.             $85,345
----------------------------------------------------------------------------
      San Francisco,
  13  Calif.                  $1,132,086  Fort Pierce, Fla.          $89,292
----------------------------------------------------------------------------
                                          Country Club Hills,
  14  Weston, Mass.           $1,105,692  Ill.                       $90,788
----------------------------------------------------------------------------
  15  Belmont, Calif.         $1,098,777  Irvington, N.J.            $92,264
----------------------------------------------------------------------------
  16  Boulder, Colo.          $1,084,183  Lehigh Acres, Fla.         $92,819
----------------------------------------------------------------------------
  17  Orono, Minn.            $1,070,203  Terrell, Texas             $96,329
----------------------------------------------------------------------------
  18  Mercer Island, Wash.    $1,059,411  Warren, Mich.              $96,349
----------------------------------------------------------------------------
  19  Darien, Conn.           $1,056,933  Ellenwood, Ga.             $97,850
----------------------------------------------------------------------------
  20  Redwood City, Calif.    $1,010,394  Maricopa, Ariz.            $97,886
----------------------------------------------------------------------------

Highlights from the 2012 Coldwell Banker Real Estate Home Listing Report:

  • The average listing price of a four-bedroom, two-bathroom home in the U.S. is $292,152.
  • Coastal states are home to the majority of the country's most expensive markets.
  • Many affordable markets exist just outside the most expensive markets in the country, such as Lake Elsinore, Calif., ($192,804 ) which is only an hour inland of Newport Beach, Calif., ($1,658,000).
  • While markets in the Midwest and South offer general affordability, the lifestyle and prestige of certain markets can help drive home prices well above the state average. In Orono, Minn., the average home listing price of a four-bedroom, two-bathroom home is $1,070,203, significantly higher than the average home price in the state ($357,461).
  • In fact, Minnesota ranks as the eighth most expensive state in the country, more expensive than coastal states Maryland and Washington.
  • Nebraska is the most affordable state in the country, where the average four-bedroom, two-bathroom home costs $145,360. The next most affordable states are Iowa ($162,621) and Georgia ($169,625).

Methodology:
The Coldwell Banker U.S. Home Listing Report analyzes the average listing price of four-bedroom, two-bathroom properties on coldwellbanker.com between January 2012 and June 2012. 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 2012 and June 2012 were excluded from the ranking. Out of respect to those still dealing with damage by Hurricane Sandy, some affected U.S. markets will not be included in the 2012 Home Listing Report data set that will be published to the Coldwell Banker website.

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 approximately 83,000 sales agents working in approximately 3,100 offices in 50 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 Location(SM) 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 subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services.

Editor's Note: Please follow the link to find the Home Listing Report rankings for your state: http://hlr.coldwellbanker.com/SurveyStateList.html

To Obtain Local Market Interviews:

Heather Roberts
Coldwell Banker Real Estate LLC
973.407.5590
Email Contact


Katy Hendricks
CooperKatz for Coldwell Banker Real Estate LLC
917.595.3057
Email Contact


More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...