Report: Kings Park Ranks in Top 50 Most Expensive Markets in State

Coldwell Banker Real Estate’s Home Listing Report released on Wednesday revealed that Kings Park ranked as the 285th least affordable market in the country and 39th most expensive in New York State. 

The report, covering 2,319 communities nationwide, detailed the average home listing prices for four-bedroom, two-bathroom properties listed on coldwellbanker.com between September 2010 and March 2011. Markets included on the report were limited to those with at least 10 properties fitting the aforementioned criteria within that timeframe.

Kings Park’s  four-bedroom, two-bathroom properties were listed for an average of $478,686. Smithtown ranked 31st in New York State and 2,082nd, or within the bottom 300, overall in terms of affordability. Homes within the report’s parameters came in at $493,790. 

Neighboring Northport came in a the second least affordable place to live in New York with an average home price of $864,375 for a four-bedroom, two-bath property.

Fourteen of the top 20 priciest communities are located in California, with Newport Beach ($2,537,126) ranked as the most expensive.

Niagara Falls rated as the most affordable community not only in the state but in the country, with its properties listing at an average price of $60,820. Long Island doesn’t appear on the list until 1,118 (Mastic; $235,312). On the Island, only Northport ($864,375) and Long Beach ($778,790) came in pricier than Setauket.

Coldwell Banker CEO Jim Gillespie called it “most in-depth local market source of data” ever released by the agency.

“We know that home buying remains a deeply personal lifestyle decision, and we believe that reports like this, along with trusted real estate agents, will help to today’s buyers make smart decisions,” Gillespie said.

To view the complete report, visit the Coldwell Banker website.