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Million-dollar markets
Coldwell Banker ranks the top cities for luxury home sales in 2003.


BEND, Ore. (CNN/Money) - Last year was a record year for million-dollar home sales, according to Coldwell Banker, which is one of the largest national sellers of luxury homes.

Based on a survey of Coldwell Banker affiliates throughout the country, the number of homes that sold for at least seven figures increased 24 percent in 2003.

A decade ago million-dollar homes were uncommon, according to recent study by Harvard University’s Joint Center for Housing Studies. But, rising household wealth and escalating home values have resulted in a significant increase in the number of million-dollar homes in recent years.

Last year alone, Coldwell Banker sold nearly 14,000 houses for at least $1 million. More than half of these transactions were in the state of California, where Coldwell Banker sold just over 7,200 homes with an average selling price of about $1.75 million.

Below are the top 75 luxury markets ranked by Coldwell Banker's total sales volume for this category. We've also included the number of homes sold in each city and the average selling price.

Rank1 City State Number of
homes2		 Average
price
1 Los Angeles CA 590 $1,821,150
2 Beverly Hills CA 269 $2,338,905
3 San Francisco CA 293 $1,974,185
4 Malibu CA 216 $2,674,058
5 Newport Beach CA 244 $1,781,162
6 Pacific Palisades CA 208 $1,831,530
7 Santa Monica CA 190 $1,811,134
8 Los Altos CA 226 $1,402,134
9 Racho Sante Fe CA 116 $2,264,202
10 Santa Barbara CA 155 $1,689,365
11 Menlo Park CA 151 $1,527,564
12 Saratoga CA 135 $1,654,691
13 Palo Alto CA 136 $1,582,889
14 Woodside CA 69 $3,065,406
15 Boca Raton FL 103 $1,980,158
16 Montecito CA 77 $2,635,869
17 Laguna Beach CA 93 $2,181,452
18 Boston MA 105 $1,861,970
19 Atherton CA 72 $2,536,847
20 Chicago IL 125 $1,436,841
21 Los Gatos CA 118 $1,514,596
22 Westport CT 99 $1,741,038
23 Brentwood CA 80 $2,127,488
24 Honolulu HI 102 $1,633,750
25 Washington DC 98 $1,684,616
26 Ft. Lauderdale FL 80 $2,022,003
27 Dallas TX 98 $1,634,586
28 Naples FL 79 $2,008,664
29 Pasadena CA 102 $1,546,543
30 Newport Coast CA 73 $2,101,989
31 Greenwhich CT 61 $2,511,068
32 Los Altos Hills CA 60 $2,513,561
33 Paradise Valley AZ 80 $1,884,144
34 Lake Forest IL 79 $1,869,094
35 Wellesley MA 84 $1,742,993
36 Carmel CA 68 $2,017,154
37 Westlake Village CA 81 $1,652,466
38 Miami Beach FL 68 $1,962,807
39 Winnetka IL 71 $1,861,936
40 La Jolla CA 75 $1,753,657
41 Miami FL 79 $1,658,455
42 Calabasas CA 88 $1,474,461
43 Portola Valey CA 65 $1,992,268
44 Weston MA 65 $1,975,908
45 Palos Verdes Estates CA 77 $1,588,756
46 Kihei HI 59 $2,067,844
47 San Jose CA 89 $1,367,622
48 Encino CA 77 $1,550,396
49 Scottsdale AZ 73 $1,609,323
50 Corona Del Mar CA 66 $1,772,634
51 Hillsborough CA 55 $2,119,907
52 New York NY 68 $1,647,924
53 Newton MA 75 $1,417,948
54 SAN DIEGO CA 75 $1,382,152
55 San Marino CA 66 $1,527,855
56 Pebble Beach CA 47 $2,145,128
57 Coral Gables FL 56 $1,798,205
58 Sarasota FL 53 $1,854,894
59 Hancock Park CA 52 $1,704,218
60 Del Mar CA 49 $1,796,817
61 Mill Valley CA 52 $1,615,563
62 Wayzata MN 40 $2,042,516
63 Glencoe IL 50 $1,598,600
64 Brookline MA 37 $2,112,050
65 Bellevue WA 52 $1,442,855
66 Rancho Palos Verdes CA 48 $1,482,770
67 Scarsdale NY 41 $1,727,023
68 San Mateo CA 51 $1,386,554
69 Longboat Key FL 43 $1,639,895
70 Encinitas CA 49 $1,398,930
71 Denver CO 44 $1,547,000
72 St. Louis MO 44 $1,540,978
73 Mercer Island WA 39 $1,735,375
74 Seattle WA 38 $1,774,684
75 Wilmette IL 50 $1,342,580
76 Cambridge MA 35 $1,914,819
Source: Coldwell Banker
1Ranked by total sales volume   2Number $1 million homes sold by Coldwell Banker in 2003



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Contact Us Closed Captioning Manage Cookies+ Site Map

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.