“And, it’s not what you think!”
Dubai, United Arab Emirates, has earned the #1 spot in a 2008 comparison study of the most expensive International housing markets, while La Jolla has captured the #1 honors for the U.S. market.
La Jolla topped the list with an average $1.84 million price tag for homes that met the study criteria. Last year, Beverly Hills took the top position with a $2.21 million average price tag. (Who knew?)
“Does this mean that La Jolla homes held their value better than similar homes in 90210 since last year?”
The annual study began in the 1980’s by Coldwell Banker. It compares prices for four-bedroom, 2.5 bath homes that have approximately 2,200 square feet of living space. This year, the cumulative average sales price of the 315 U.S. housing markets evaluated in the survey was down 4.4 percent – compared to the cumulative average sales price in 2007.
“Top 10 Most Expensive U.S. Housing Markets“
- La Jolla, Calif
- Greenwich, Conn
- Beverly Hills, Calif
- Palo Alto, Calif
- Santa Monica, Calif
- Santa Barbara, Calif
- Newport Beach, Calif
- San Francisco, Calif
- Boston, Mass
- San Mateo, Calif
