Fayetteville has most expensive homes in state.
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Updated: April 17, 2007
According to the 2006 Coldwell Banker Home Price Comparison Index (HPCI), an "apples to apples" comparison of similar homes sold in typical, middle management neighborhoods, it will take at least $1.8 million to buy a house in Beverly Hills.
However, a similarly sized home would cost only $132,333 in Minot, North Dakota, the cheapest city in the survey.
The 2006 Coldwell Banker HPCI evaluated home prices for a 2,200 square foot single-family dwellings with four bedrooms, two and one-half baths, a family room (or equivalent) and a two-car garage in 317 markets across the United States.
The cumulative average sales price of the homes surveyed in the 317 U.S. markets is $423,950, a 6 percent increase over $401,767 from the same period in 2005.
The 2001 Coldwell Banker HPCI showed a national average price for the subject home to be $269,241, 57 percent below this year`s survey result.
In Arkansas, the most expensive city is Fayetteville, with an average price of $248,012. Fort Smith had the lowest prices, with an average of $179,225 - a difference of $68,787.
(Copyright 2006 Newsroom Solutions, LLC)
