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Spokane remains hotbed of affordable home prices

Sun., June 26, 2011

A new survey of home listing prices ranks Spanaway second only to Spokane in Washington for low home prices.

The survey by real estate firm Coldwell Banker said the average listing price of a four-bedroom, two-bath home in Spanaway in March was $201,660, second only to Spokane’s $189,551.

The survey, released last week, puts the average price for a four-bedroom home at $293,000 nationwide. The survey included homes for sale in more than 2,300 U.S. communities.

Among that survey’s other findings:

• Washington is among five states with the highest housing prices. The others are California, New Jersey, Connecticut and Massachusetts.

• Mercer Island has the ninth highest home prices in the country with the average four-bedroom home there listing for $1.143 million. The most expensive homes on average are found in Newport Beach, Calif. The average there is $2.537 million.

• The least-expensive homes in the country are in Niagara Falls, N.Y. The average price is $60,820. Second is Riverdale, Ga., at $61,618.

• Of the 10 most expensive communities in the country for housing, six are in California: Newport Beach, Pacific Palisades, Rancho Palos Verdes, Saratoga, Los Gatos and Cupertino.

• Tacoma prices for 4-bedroom homes are 23rd among 58 Washington communities surveyed. The Tacoma average is $299,352. Lakewood’s average is $264,279. Puyallup’s average is $276,124. Lacey is $313,097. Federal Way’s average price is $330,071. Olympia’s average is $359,399. Gig Harbor’s average price is $438,691.

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