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Weston, Wellesley, Newton among 25 most expensive housing markets nationwide, report finds

Posted by Jaclyn Reiss  November 6, 2013 02:48 PM

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If you want to live in Wellesley, Newton or Weston, you better have big-time bucks, a real estate report found.

The three affluent Boston suburbs were ranked among the 25 most expensive communities to buy a home nationwide, according to a Coldwell Banker Real Estate report released today that compared four-bedroom, two-bathroom houses in 1,900 real estate markets across the US.

According to the report, Weston was the 9th most expensive market, with a $1.23 million average price for a four-bedroom home. Wellesley came in 16th with $1.08 million, and Newton earned the 25th spot with $912,745.

Malibu, Calif. was deemed the most expensive, with a four-bedroom house costing about $2.16 million. About a dozen other California communities were among the most expensive 25, according to the report.

By comparison, the majority of the 25 most affordable housing markets were scattered throughout the midwest, with Cleveland, Ohio dubbed the least expensive: the average four-bedroom house costs $63,729 there, the report finds.

New York is the only state that had markets ranked on both the most expensive and affordable lists: a home in Buffalo costs $101,631, while a comparable Great Neck house costs an average of $1.1 million, the study said.

For more information, visit Coldwell Banker's website.

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Jaclyn Reiss can be reached at jaclyn.reiss@globe.com

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