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Millionaire Money Habits

June 20th, 2012 at 8:31 pm

The Most Expensive Real Estate in the Country

» by EmmaM in: Liabilities and Expenses

The real estate market took a serious hit towards the end of 2008, and housing prices have not yet recovered. That means a lot of affordable housing available, and not enough people in a position to take advantage. Of course, there are certain areas of the country that are completely immune to fluctuations in real estate prices, either due to the weather, the school districts, or simply the zip code. But there can be wide ranges in housing prices even within fancy counties, so to really get a handle on where you’ll find the most expensive real estate in the country you’ve got to look at neighborhoods. If you pull out the renters and vacationers from the equation, here is a look at some of the areas where you’ll still, and probably forevermore, find the most expensive real estate in the country.

The area with the most expensive real estate is probably not a surprise, as we’ve all seen it’s splendor laid out on countless television shows and films, and that’s Beverly Hills, California. The median home value in 90210 is $3.07 million, but you’ll find houses in this posh, palm-tree lined neighborhood that sell for as much as $60 million or more.

Just behind this California beauty is an east coast neighborhood with a ridiculous price tag - the Upper East Side. This Manhattan neighborhood ranges from 70th Street up to 77th Street, between Park and Fifth Avenues. If you’re shopping for a deal, go elsewhere, because in the UES you’ll find a median home value of $2.8 million. It’s a gorgeous area, packed with historic brownstones built as far back as 100 years ago. Many of the homes here overlook Central Park, quite the perk in the city that doesn’t sleep. But you’ll also find incredible shopping and restaurants in this very walkable neighborhood.

Head south in our quest to find the most expensive real estate in the country, and you’ll discover Port Royal, a neighborhood in Naples, Florida. The average home lists for $2.7 million, and it’s easy to see why. The majority of the properties here enjoy waterfront locations, and many come with private docks. It’s a vacationers paradise, though to foot the bill you’d have to be in quite the elevated economic position.

Returning to the northeastern United States, you can stop in Alpine, New Jersey to find some of the most expensive real estate there is. This neighborhood draws more than its fair share of celebrities, and the average home goes for $2.44 million. Although there are many mansions in Alpine that frequently sell in the mid- to upper-eight figures. Filling out the top five is Greenwich, Connecticut, and it’s Golden Triangle neighborhood. The median home value is $2.21 million, making the placement here of the Greenwich Country Club more than appropriate.

Of course, there are several other communities that also boast some of the highest housing prices in the country. Honolulu is the spot in Hawaii, but there are expensive neighborhoods in the Midwest as well. Surprisingly, the Upper West Side NYC didn’t make the cut, but there are probably still some homes there that would have you expect otherwise.

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