Nation's priciest real estate in Newport Beach and Pacific Palisades

Another local, Rancho Palos Verdes, is fourth most expensive in a report by Coldwell Banker (via OC Register). The ranking is based on listings for 4-bedroom, 2-bathroom houses in more than 2,300 North American markets. Here's how it stacks up:

Rank Most Expensive Avg. list price *
1 Newport Beach $2,537,126
2 Pacific Palisades $1,606,992
3 Stone Harbor, N.J. $1,344,908
4 Rancho Palos Verdes $1,312,538
5 Saratoga $1,281,889
6 Los Gatos $1,261,176
7 Weston, Mass. $1,228,100
8 Greenwich, Conn. $1,154,293
9 Mercer Isl., Wash. $1,143,521
10 Cupertino $1,140,656

What this list doesn't mention is how average prices have changed in the last few years. Clearly, there's been price depreciation in all the markets, even the most sought-after ones. The U.S. average was about $293,000; Niagra Falls, N.Y., was last with the average list price at $60,820.