Business & Tech
Real Estate: Lakewood Ranks 14th in State For Most Affordable Housing
A new study by Coldwell Banker Real Estate ranks Lakewood as one of the more inexpensive communities to buy a home as its close neighbor Spanaway ranks as the second least expensive place to live.
In a new study released today, Coldwell Banker Real Estate LLC ranked Lakewood toward the top of the list of inexpensive housing markets in the state.
Coldwell Banker Real Estate's Home Listing Report compares listing prices from September 2010 to March 2011 for four-bedroom, two-bathroom homes in more than 2,300 North American markets. The survey reviewed 58 real estate markets in Washington, and found Edmonds fell in at number 50, with 1 being the cheapest and 58 being the most expensive.
The average four-bedroom, two-bathroom house in Lakewood was listed at $264,279, which ranks as the 14th most inexpensive home in the state. That number put the city at 1,358 among all the U.S. markets in the survey, with 2,300 being the most expensive.
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The most expensive city in the survey was Newport Beach, Calif., with an average home listing price of approximately $2.5 million for property listings meeting the subject home criteria. The most affordable U.S. market in the report was Niagara Falls, N.Y., which has an average home listing price of approximately $61,000.
Spokane contained the most affordable markets in the state, with an average four-bedroom, two-bathroom home listing price of approximately $189,551. Lakewood's neighbor Spanaway ranks second ($201,660).
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Mercer Island, at an $1,143,521 average listing for the same type of home, was the state’s most expensive market. The average four-bedroom, two-bathroom home in Washington overall was $364,771, compared to the national average of $293,251,
Here is a complete list of the Washington markets featured in the 2011 Coldwell Banker Home Listing Report:
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