San Francisco 9th Priciest for Executive Homes in U.S.

Home-broker giant Coldwell Banker has issued its annual Home Price Comparison Index (HPCI) that tries to make an apples-to-apples comparison of the typical home a middle-management type would consider in 317 U.S. cities: 2,200-square foot home with four bedrooms, 2.5 baths, and a two-car garage. This year, CB says that while Beverly Hills repeated as the most expensive market at $2.21 million, “more than 1,400 miles away from the glitz of Rodeo Drive, the Beverly Wilshire Hotel and Spago sits Killeen, Texas, the nation’s most affordable studied market where a home with similar characteristics would cost $136,725.”

San Francisco came in #9 at $1,451,250. That’s a 4.10% higher price than a year ago.

Of course, those price changes weren’t in the press release. (Read IT HERE) To be fair, CB did mention price movement …The cumulative average sales price of the homes surveyed in the 317 U.S. markets (including one in Puerto Rico) covered in the Coldwell Banker HPCI is $422,343, which is only four-tenths of one percent lower than the 2006 average of $423,950. This change only reflects homes matching HPCI specifications in surveyed markets and is not necessarily reflective of overall market conditions. Although the HPCI focuses on a “snapshot” look at subject homes meeting study criteria and is not intended to show overall market conditions, a comparison of the 2007 and 2006 surveys indicates 148 markets saw a rise in value of the HPCI subject homes, compared to 139 that dipped.

To use CB’s nifty city home-price comparison tool, CLICK HERE