Got $2.1M? Malibu Ranked Most Expensive Real Estate Market In U.S.
MALIBU (CBSLA.com) — It’s long been the home of Hollywood celebrities, white sandy beaches and some of the most picturesque views in all of Southern California – and now a new report says it’s the most expensive place to live in the United States.
According to an annual report, an average four-bedroom, two-bathroom home in the affluent beach community of Malibu lists for $2.15 million, compared to the average $63,729 price of a similar-sized home in Cleveland, Ohio.
The star-studded, 12,832-resident Malibu is just one of several California cities to rank among the most expensive markets in the U.S., along with Newport Beach, Saratoga, Los Gatos, and San Francisco, according to the 2013 Coldwell Banker U.S. Home Listing Report.
Pasadena and Santa Barbara were among the other California cities to also rank among the top 25 most expensive real estate markets nationwide.