Who doesn’t dream of a house in tranquil Beverly Hills? But do you think it’s that easy to afford a luxurious living there? Beverly Hills is known for the most expensive homes in US and has topped again. Recently, Coldwell Banker Real Estate LLC made the comparison of home prices across 331 North American markets and found that with an average price tag of $2.21-million, Beverly Hills was the most expensive place on the continent in 2007 to buy a middle-of-the-road house.
Ranging from the most expensive and the most affordable the report concluded:
Of all of the Canadian markets studied, Charlottetown was the most affordable. Homes with an average 2,200 square feet, four bedrooms and two-and-a-half baths were found to be just $157,630.
There is not much difference in the home prices in Canada and the US. In fact, Canada mirrors the U.S. in that the costliest real estate markets are located on the West Coast.
With homes averaging $1.32-million, Vancouver topped the list of Canadian markets studied.
California has eight cities in the top 10 most expensive places to buy a house in North America.
Greenwich is the second-priciest place.
At a mere $136,725, Killeen was the cheapest real estate on the continent.
Housing sales in Canada are have not witnessed slump and varied greatly.
However, famously expensive Manhattan and London, one of the world’s priciest markets were not included in the study. The value of the dollar has sunk against most major currencies (witnessing 15% slump against the euro) in the recent past and has made it difficult for Americans to buy a vacation home overseas but the weak dollar has made U.S. properties more attractive to foreign buyers.
Source: USA Today
