Dubai, United Arab Emirates, is the most expensive international market for homes, while La Jolla, CA, if the most expensive U.S. market according to a recently released price study.
The study compares homes with similar sizes and attributes in 315 U.S. markets and in Puerto Rico, Canada and a sampling of other countries.
First launched in the late 1980s, the annual Home Price Comparison Index compares prices for four-bedroom, 2.5-bathroom homes that have about 2,200 square feet of space.
The cumulative average sales price of homes included in the survey in the 315 U.S. markets is $403,738, down 4.4 per cent compared to the average price in the 2007 study.
La Jolla topped the list with an average $1.84 million price for homes that meet the study criteria, and Sioux City, Iowa, was the most affordable U.S. market, with an average home price of $133,459 for those homes that meet the study’s criteria.
Beverly Hills topped last year’s list of most expensive U.S. markets, with a $2.21 million average price, and Manhattan was not included in the study because of the lack of homes that met the study criteria.
Most expensive U.S. Markets:
- La Jolla, CA
- Greenwich, Conn.
- Beverly Hills, CA
- Palo Alto, CA
- Santa Monica, CA
- Santa Barbara, CA
- Newport Beach, CA
- San Francisco, CA
- Boston, Mass.
- San Mateo, CA
Least expensive U.S. Markets:
- Sioux City, Iowa
- Jackson, MI
- Akron, Ohio
- Canton, Ohio
- Grayling, MI
- Minot, N.D.
- Arlington, Texas
- Muncie, Indiana
- Killeen, Texas
- Eau Clair, Wisconsin
Most expensive International Markets:
- Dubai, United Arab Emirates
- Milan, Italy
- Bucuresti, Romania
- Madrid, Spain
- Rome, Italy
- Dublin, Ireland
- Paris, France
- Hamilton, Bermuda
- Florence, Italy
- Providenciales, Turks and Caicos
Least expensive International Markets:
- Quito, Ecuador
- Guayaquil, Ecuador
- Samborondon, Ecuador
- Hanoi, Vietnam
- San Jose, Costa Rica
- Pereira, Colombia
- Panama City, Panama
- Bogota, Colombia
- Granada, Nicaragua
- Fukouka, Japan
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