Los Altos, however, takes the cake, listed as the priciest real estate spot in the nation with the average price of a four-bedroom, two-bath home selling for $1.7 million. It was followed by Newport Beach with the same type of dwelling going for $1.68 million.
Saratoga came in third place with such property averaged at $1.58 and Los Gatos at $1.44 million.
“The success of many of our native tech companies has shined a spotlight on Silicon Valley and our real estate market in the San Francisco Bay Area,” said Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area.
“Listing prices in our market are a product of ongoing high demand, projected population growth and the low inventory levels of homes in what is one of the most desirable locations to live.”
Below find the rankings for the top 12 cities listed in the report.Rank Most Expensive Real Estate City Average Home Price 1 Los Altos $1,706,688 2 Newport Beach, Calif. $1,658,000 3 Saratoga, Calif. $1,582,434 4 Menlo Park, Calif. $1,506,909 5 Palo Alto, Calif. $1,495,364 6 Los Gatos, Calif. $1,444,214 7 Rye, NY $1,312,250 8 Kailua, Hawaii $1,238,208 9 Carmel-by-the-Sea, Calif. $1,232,167 10 San Carlos, Calif. $1,230,880 11 Greenwich, Conn. $1,200,525 12 Cupertino, Calif. $1,151,145