Belmont Among the Most Expensive Real Estate Markets in Country

A 4-BR, 2-bath house in Belmont (on average) is pricier than in all but 14 other cities in the country, Coldwell Banker's annual Home Listings Report finds.

How much does it cost to buy a four-bedroom, two-bath house?

This year, Los Altos/Los Altos Hills, at an average price of $1,706,688, is the most expensive market in the country when it comes to how much house your dollar will buy, according to Coldwell Banker’s annual Home Listing Report.

And Belmont isnt far behind, ranking 15 on the list with an average listing price for a four-bedroom, two-bath home priced at $1,098,777.

In fact, of the nation’s top five most expensive markets, four are on the lower Peninsula and Santa Clara County, and all are in California. Besides Los Altos, they include Saratoga ($1,582,434), Menlo Park ($1,506,909), and Palo Alto ($1,495,364). Newport Beach, in the No. 2 position ($1,658,000), was the only market outside of the Bay Area in the top five.

Coldwell Banker attributes Los Altos' ranking to the confluence of tech and desirable locations. Google, Apple, Facebook and Stanford University are all located within 15 minutes of Los Altos, Coldwell Banker observed. And, so are the other top-five cities Saratoga, Menlo Park and Palo Alto.

And Los Altos Hills is the town that brought you the in 2011. 

“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, in a written statement.

In fact, among the top 20 most expensive markets in the country, ten of them are on the Peninsula or in Santa Clara Valley. They include the additional cities (in order of price) of Los Gatos, San Carlos, Cupertino, San Francisco and Redwood City.

High demand, low inventory, desirability and population projections all figure into the prices, Turley said.

Conversely, the most affordable was in Redford, Michigan, where the average a four-bedroom, two bath house cost $60,490—or 28 times less than the same house in Los Altos.

Coldwell Banker lists both the top 20 most affordable and the most expensive in the chart below.


For a state-by-state ranking, see this Coldwell Banker link.



Most Expensive State

Avg Listing Price

Most Affordable States

Avg. Listing Price


Los Altos


Redford, Mich



Newport Beach, Calif.


College Park, GA





Detroit, Mich.



Menlo Park


Cleveland, Ohio



Palo Alto


Poinciana, Fla.



Los Gatos


Hastings, Fla



Rye, N.Y.


Jonesboro, GA



Kailua, Hawaii


Park Forest, Ill.





Augusta, GA



San Carlos


Johnstown, Penn.



Greenwich, Conn.


Cleveland Heights, Ohio





Saginaw, Mich.



San Francisco


Fort Pierce, Fla.



Weston, Mass


Country Club Hills, Ill.





Irvington, N.J.



Boulder, Colo


Lehigh Acres, Fla



Orono, Minn.


Terrell, Texas



Mercer Island, Wash.


Warren, Mich.



Darien, Conn.


Ellenwood, Ga.



Redwood City


Maricopa, Ariz


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Jarl Kubat December 02, 2012 at 11:44 PM
In regards to the countries most expensive homes / real estate - the northern part of Scottsdale Arizona cannot be to far down the list.
Ben There December 03, 2012 at 05:48 AM
Now if we can just get rid of Prop 13 we'd be in good shape from a revenue perspective. lol.


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