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