The warm, white sandy beaches of Malibu, California have already attracted the wealthy and famous Hollywood stars for years.
Now, Coldwell Banker Real Estate released its 2013 Home Listing Report (HLR), which ranked California and Hawaii as the most expensive place to live in America.
The new report aims to inform potential home-buyers looking for a bargain to steer clear of buying properties from both states.
The real estate company ranked nearly 2,000 markets across the United States based on the average listing price of a sample sized home, which include four bedroom, two bathroom.
Even though California boasts of both the number one tourist destination, Malibu, as well as 12 other well-known spots in the top 25 costly markets, Hawaii is still America’s most expensive state overall. The cost of Aloha state’s average residential property is $722,964.
Affordable real estate markets
Meanwhile, the sprawling midwest has 15 of the 25 most affordable markets.
Cleveland, Ohio, on the other hand, was ranked as the most affordable real estate market, where an average four-bedroom, two-bathroom home costs $63,729.
The average listing price of a sample-sized home in the survey of more than 52,000 listings country-wide was $301,414.