Coldwell Banker finds Greenwich is most expensive market

Greenwich is an expensive place to live. That’s not just an observation. It’s also a finding from Coldwell Banker Real Estate in its 2014 Home Listing Report, which ranks the affordability of 69 real estate markets in Connecticut.

The Coldwell Banker Home Listing Report named Hartford the most affordable market in Connecticut, with an average listing price of $130,123, while Greenwich ranked as the most expensive market in the state, with an average listing price of $923,690.

Connecticut ranked as the fifth most expensive state for a four-bedroom, two-bathroom home with an average listing price of $423,117.

The annual report is the most extensive home price comparison tool currently available in the United States, ranking the average listing price of four-bedroom, two-bathroom homes in nearly 2,000 markets. While other affordability reports provide average or median prices for all homes in a given area, the report analyzes more than 51,000 similar listings to better address how much a home in one market would cost if the same home were located somewhere else in the country.

“This report is a good tool for homebuyers who want to compare average listing prices for similar homes in communities throughout the state and country. It gives consumers a good idea of the range of housing markets and prices in Connecticut,” said Cathleen Smith, president of Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y.

In addition to providing a look at the most expensive and affordable markets in the nation, the Home Listing Report also provides data for each individual state in the country. Full data for Connecticut, including affordability rankings of its local markets, is available at hlr.coldwellbanker.com. To be included in the report, markets were required to have a minimum of 10 four-bedroom, two-bathroom home listings between January and June 2014. Markets not included in this year’s ranking did not meet this requirement.

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