Arlington County has the most expensive housing market in Virginia, and one of the most expensive in the country, according to a new report released by Coldwell Banker Real Estate.
The 2012 Home Listing Report compares the average home listing price of more than 72,000 four-bedroom, two-bathroom properties listed on coldwellbanker.com between January and June 2012.
Of the 48 markets surveyed in Virginia, Arlington topped the list. Here, the average price of a four-bedroom, two-bathroom home was $678,486. Northern Virginia certainly isn't a stranger to high home prices. Vienna, Alexandria, Ashburn and Fairfax rounded out the top five in the Coldwell Banker report.
On the other end of the spectrum, Danville was ranked most affordable in Virginia. There, the average price of a comparable home was $153,957.
Nationally, the five most expensive markets were all in California — four in the San Francisco Bay area. Los Altos, Calif., is the most expensive market in the country, according to the report. The average listing there? $1,706,688.
Of 2,479 markets surveyed nationally, Arlington ranked 85th most expensive.
The most affordable market in the country is Redford, Mich., where a comparable piece of property goes for $60,490.
The average listing price of a four-bedroom, two-bathroom home in the United States is $292,152, according to the report.
Coastal states are home to the majority of the country’s most expensive markets, the report states.