Report highlights most expensive and most affordable housing markets

Coldwell Banker Real Estate LLC recently released its Home Listing Report, which identified the priciest and cheapest four-bedroom, two-bathroom homes in U.S. cities.

In more than 2,300 North American markets, Newport Beach, California, was the most expensive market with the average home price of $2.5 million. The most affordable market in the United States was found in Niagara Falls, New York, with an average home price of $61,000.

The report researched properties that were listed between September 2010 and March 2011, and found the average home price in the country to be approximately $293,000.

"We've included nearly 10 times more markets than ever before, which gives us unmatched real estate insight into thousands of North American cities," said Chief Executive Officer for Coldwell Banker Real Estate LLC Jim Gillespie.

Of the most affordable markets in the United States, Georgia has three markets on the list with average home prices of less than $80,000. California hosts six of the 10 most expensive markets, with Stone Harbor, New Jersey, and Weston, Massachusetts also making the list. The United States had 775 markets with listings averaging $200,000 or less.

"What this points out is that real estate is extremely affordable for those who have a secure income, a good down payment and credit score and can document their assets," Gillespie told MarketWatch. 

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