Real Estate, Take II

Yes, home prices here are high, but we could be worse off. We could be La Jolla.

Coldwell Banker's national survey of 2,200-square foot homes finds that La Jolla is the most expensive place in the US: A four-bedroom pad there costs an average of $2.12 million. San Francisco's four-bedrooms are practically cheap by comparison, at (only) $1.36 million.

SF is (only) the 6th most expensive place in the country. Neighbor Palo Alto is 4th, and San Mateo 10th.

Our state, in fact, is quite a stand-out. Of the 10 costliest markets in the country, only two (Greenwich, CT, ranked 3rd, and Boston, 7th) are outside California. The Golden State also boasts the biggest price gap, a nearly $1.96 million difference between La Jolla's four-bedrooms and Lancaster's (a steal at $165,205).

An even bigger steal is Grayling, MI, which Coldwell Banker calls "the most affordable market in America"--you can swoop up the same sized house for a mere $112,675.

Where does NYC fit? The study excludes Manhattan because of its lack of sprawling single-family homes.