Hawaii has highest average list price for homes, but bargains to be found in some places

Hawaii has highest average list price for homes, but bargains to be found in some places
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HONOLULU (HawaiiNewsNow) - 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.

The full report is available here.

CommunityAverage PriceState RankingPercent difference from statewide average
Honolulu$1.1 million153 percent higher
Waipahu$626,00024 percent lower
Ewa Beach$597,00039 percent lower
Kapolei$569,000414 percent lower
Waianae$464,000534 percent lower
Keaau$283,000679 percent lower

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