No shocker here: A new report says Hawaii is the priciest state in the nation to buy a home.
But the 2015 Home Listing report, from Coldwell Banker, also offers some important insight into the housing market in the islands, noting that where you buy in Hawaii does make a difference. In other words, it's location, location, location.
The state’s average listing price for a four-bedroom, two-bath home was $654,648, the report said.
The report also looked at six communities statewide that had at least 10 active listings for four-bedroom units.
That review found the average listing price for a four-bedroom in urban Honolulu was $1.1 million.
Among the six communities, Waipahu had the second-highest average listing prices for four-bedroom, two-bath homes. The lowest listing prices were found on Keaau on Hawaii Island, where home averages were hovering around $280,000.
The report notes that Hawaii’s average listing price for a four-bedroom is far-and-away the country’s highest, coming in at nearly 20 percent higher than the state with the second-highest average listings, Massachusetts.
The average listing prices for urban Honolulu, meanwhile, were the 17th-highest among metropolitan areas across the country.
Among metropolitan areas, Newport Beach, Calif. had the highest average listing price – at $2.3 million. The most affordable metro area: Cleveland, Ohio. The average listing price there for a four-bedroom home was $74,500.
To put the report together, Coldwell Banker looked at 81,000 listings for similarly-sized four-bedroom homes in all 50 states.