Beverly Hills Most Expensive Housing Market

Beverly Hills, Calif., is the most expensive housing market in the United States, with an average home sale price of $1.80 million so far this year, according to the 2006 Coldwell Banker Home Price Comparison Index.California cities dominated the list of the 10 most expensive markets in the survey, yielding only one spot -- 8th place -- to a non-California market: Greenwich, Conn., with an average sale price of $1.40 million. Second and third places on the list were occupied by Santa Monica, at $1.77 million, and La Jolla, at $1.76 million. The most affordable U.S. market was Minot, N.D., with an average sale price of just over $132,000, Coldwell Banker reported. "While 2006 likely will be the third-best year in real estate history, according to the National Association of Realtors, there has been a shift to a buyer's market," said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate Corp. "With a larger inventory to choose from, buyers are taking their time and exploring several different homes before choosing to make an offer." The company can be found online at http://www.coldwellbanker.com.