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Malibu Tops List of Most Expensive Housing Markets

The average listing price in Malibu is $2.15 million, according to Coldwell Banker.

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Posted: Wednesday, November 6, 2013 3:00 pm

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Malibu was named the most expensive real estate housing market in Coldwell Banker’s 2013 U.S. Home Listing Report, with an average listing price of $2.15 million for a four-bedroom, two-bathroom home.

"With its laidback, yet star-studded lifestyle, Malibu is undergoing a transformation from a seasonal destination to a year-round locale," said Madison Hildebrand, an agent with Coldwell Banker Residential Brokerage in Malibu and star of Bravo's Million Dollar Listing, in a release. 

Malibu was one of 13 California cities to make the top 25. The average listing price was nearly $1 million more than Newport Beach, which ranked second on the list. Three more California cities—Saratoga, Los Gatos and San Francisco—rounded out the top five. Cupertino, Redwood City, San Mateo, Pasadena, Sunnyvale, Santa Barbara, Danville and Campbell, Calif., also made the top 25.

Newton, Mass., ranked 25th on the list, with an average listing price of $912,745.

Cleveland, Ohio, topped the list of most affordable housing markets, with an average listing price of $63,729 for a four-bedroom, two-bathroom home, more than $2 million less than Malibu. No California cities make the most affordable list, which is composed primarily of cities in the Midwest.

The national average listing price for a four-bedroom, two-bathroom home is $301,414.

View the full list here

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