The Most Expensive Real Estate Market in the Country Is…

Coldwell Banker released this year’s Home Listing Report (HLR) and each of the top ten most expensive cities were in California. Saratoga, CA took the top spot. Here’s why.

Saratoga is an enclave of about 30,000 residents on the western edge of Silicon Valley. It’s known for its blended small-town feel and big-city attractions – and as of today, it’s also known as the most expensive real estate market in the U.S.

Coldwell Banker ranked over 2,000 U.S. cities in the 2016 Home Listing Report. Because the average size home can vary greatly from market to market, the report compares the average price of four-bedroom, two-bathroom homes in each city to provide a more apples-to-apples comparison.

A sample-size home goes for an average of $2,453,718 in Saratoga. California dominated the top ten spots on this year’s Home Listing Report, and six of those markets are in Silicon Valley. Overall, the average price of such a home in California as a whole was $560,091 – making it the third most expensive state in America following Hawaii and Massachusetts.

Top 10 Most Expensive Markets

  1. Saratoga*, Calif., $2,453,718
  2. Newport Beach, Calif., $2,130,338
  3. Cupertino*, Calif., $1,812,833
  4. Redwood City*, Calif., $1,807,068
  5. Arcadia, Calif., $1,748,680
  6. Carmel, Calif., $1,722,500
  7. San Francisco*, Calif., $1,672,100
  8. La Cañada Flintridge, Calif., $1,571,846
  9. Sunnyvale*, Calif., $1,566,616
  10. Los Gatos*, Calif., $1,470,524

*Indicates Silicon Valley

Saratoga Village

Why is Saratoga so pricey? As with all real estate, it’s because of the city’s location, location, location – Silicon Valley.

Nancy Robinson, regional vice president of Coldwell Banker Residential Brokerage San Francisco Bay Area says, “Saratoga has long been known for attracting Bay Area business executives. The continued success of the technology industry coupled with the ongoing demand for properties, exclusivity, highly-ranked public schools and comparably larger lot sizes of the area have made Saratoga one of the most desirable places to live in Silicon Valley.”

Curious to see what a standard four-bed, two-bath in Saratoga looks like? Check out this property listed for $1.988 million in the hills of Saratoga.

15495 Quickert Road15495 Quickert Road Kitchen

Tweet: Cali sweeps Top 10 Most Expensive Markets in 2016 Home Listing Report from @coldwellbanker – 6 are in Silicon Valley

Senior Manager, Public Relations & Giving for Coldwell Banker. Grew up in Sarasota and attended college at Western Carolina University. Athena wanted to wake up in that city that doesn’t sleep so headed to Madison Avenue to start her marketing career. She has been with this awesome brand for more than 15 years and can be found generating buzz about CB in every way possible. Athena helps to grow the brand’s position as the most storied real estate company within the industry and has led many high-profile endeavors; she was at the forefront of the brand’s pioneering smart home campaign, raised $6 million in two years to build 130 Habitat for Humanity homes, and led the Homes for Dogs program in partnership with that resulted in tens-of-thousands of dogs finding their furever home. She currently leads the CB Supports St. Jude program, which encourages the Coldwell Banker network’s 96,000+ real estate agents to make donations to St. Jude’s Children’s Research Hospital for every real estate transaction they represent. In her spare time, you can find her either digging up a new area in her yard for another flower bed or planning her next travel adventure. She's the proud mom of three cats Jolene, Ziggy and Lucy.

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