Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Orono and Malibu among the most expensive markets in the country

Posted by: Jim Buchta under Buying Updated: November 6, 2013 - 3:27 PM

What does Orono, with its abundant Lake Minnetonka shoreline, have in common with the sandy ocean beaches of Malibu, California? They're both among the top 10 most expensive real estate markets in the country.

Well, at least according to a survey by Coldwell Banker, which tracks the average list price of a four-bedroom, two-bathroom house in 1,900 markets across the country. By that measure, Malibu was the most expensive with an average list price of $2.1 million and Orono was the eighth-most expensive at $1.2 million. Among all 1,900 markets, the average list price for that four-bedroom house was about $300,000.

The annual survey is just a snapshot of what's been on the market, so it's just one more way to look at the affordability of various markets. Here's how the most-expensive communities ranked in Minnesota, followed by the most affordable:

1

ORONO

$1,251,873

2

MOUND

$843,570

3

EDINA

$783,588

4

MINNETONKA

$677,623

5

MINNEAPOLIS

$595,159

 

Most Affordable

Avg. Listing Price

OWATONNA

$145,646

WILLMAR

$165,072

MOORHEAD

$166,569

ST. CLOUD

$167,552

ALBERT LEA

$170,929

 
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