Seattle #8 on CB list of nation’s priciest college markets

Seattle ranked number eight in Coldwell Banker Real Estate’s most expensive college real estate markets.

The report provides the average home listing prices for three-bedroom, two-bathroom properties that were listed for sale on coldwellbanker.com between August 2010 and August 2011.

According to the report, three-bedroom homes cost less than $200,000 on average in nearly two-thirds of the college towns included (76 markets) and less than $150,000 in nearly one-quarter (26 markets).

In the most affordable market, Memphis, Tenn., (home to University of Memphis) the average listing price of a three-bedroom home is $89,244.
Western cities accounted for eight out of the 10 most expensive college real estate markets, with half of those in California.

The most expensive market was the Westwood neighborhood of Los Angeles, home to the University of California, Los Angeles, with an average listing price of $1.27 million – a difference of $1.18 million from the least expensive market considered.

Westwood was followed closely in cost by Silicon Valley town Palo Alto, Calif., home of Stanford University, with an average listing price of $1.23 million.

Chestnut Hill, Mass., home of Boston College in the Northeast, and Annapolis, Md., home of the United States Naval Academy in the South, were the only non-Western towns among the 10.

The report showed Seattle had an average listing price of $575,535. The neighborhoods included were not disclosed. According to the latest Northwest Multiple Listing Service data, the average closed sale of all homes in King County was $369,908.