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Calif. towns among priciest housing markets in US

For the second year in a row, California towns were among the most expensive housing markets in the country.

June 19, 2011 12:00:00 AM PDT
For the second year in a row, California towns were among the most expensive housing markets in the country.

The latest survey from Coldwell Banker lists Newport Beach as the priciest home market.

The report compares average prices for four-bedroom, two-bathroom homes.

In Newport Beach, a house with those specs will run you about $2.5 million. But that's not the only Californian market with high prices.

Five other California towns made the top 10 list.

Pacific Palisades ranked No. 2, Rancho Palos Verdes ranked No. 4, followed by Saratoga and Los Gatos and Cupertino is No. 10.

On the other end of the spectrum, the most affordable market in the state is Rosamond which is located next to Edwards Air Force Base.

A four-bedroom home there averages about $108,000. However, that price is still higher than the most affordable market in the whole country which is in Niagara Falls, N.Y. You'll only have to pay $60,000 for a similar house.