How much does it cost to buy a four-bedroom, two-bath house?
This year, Menlo Park-Atherton, at an average price of $1,506,909, is the most expensive market in San Mateo County when it comes to how much house your dollar will buy, according to Coldwell Banker’s annual Home Listing Report.
Los Altos/Los Altos Hills, at an average price of $1,706,688, is the most expensive market in the country.
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 and Menlo Park, they include Saratoga ($1,582,434), 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.
Most Expensive State
Avg Listing Price
Most Affordable States
Avg. Listing Price
Newport Beach, Calif.
College Park, GA
Park Forest, Ill.
Cleveland Heights, Ohio
Fort Pierce, Fla.
Country Club Hills, Ill.
Lehigh Acres, Fla
Mercer Island, Wash.
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