A population of wealthy professionals and a location on the edge of Silicon Valley helps to make Saratoga, Calif., the most expensive housing market in the U.S., where a typical four-bedroom, two-bathroom house costs $2,453,718, on average.
Business Insider took a look at Coldwell Banker's annual Home Listing Report. The report found that the 10 most expensive housing markets are located in California. Other pricy locales in the state include San Francisco, Carmel, Cupertino, Newport Beach, and Sunnyvale.
So what makes California so desirable?
"It all goes back to the old adage in real estate about location, location, location," Charlie Young, CEO of Coldwell Banker, told Business Insider. "In California, you've got a confluence of an amazing climate, strong economy with high-paying jobs, and a tech sector attracting a competitive environment."