Orono joins Malibu on real estate company's list of priciest housing


There must be plenty of Grey Poupon in Orono.

The Star Tribune reports the leafy suburb on the shores of Lake Minnetonka ranks right up there with Malibu, Calif. on a national list of the top 10 most expensive real estate markets in the country.

The ranking comes from a survey by real estate giant Coldwell Banker, which tracks the average list price of a four-bedroom, two-bathroom house in 1,900 markets across the country. The Wall Street Journal has the full list.

On that list, Malibu was the priciest with an average list price of $2.1 million. Orono ranked ninth, at $1.2 million.

The HomesOfTheRich website includes a few Orono mansions in its over-the-top track of luxury homes. Earlier this year, a home in Orono went on the market for $24 million. (That's not a typo. $24 million).

Coldwell Banker's annual survey of the five priciest Minnesota communities puts another Minnetonka suburb, Mound, in second place, with an average list price of $843,570. Edina ($783,588), Minnetonka ($677,623) and Minneapolis ($595.159) round out the top five list.

The survey finds Owatonna to be the most affordable community, with an average list price of $145,646. Other communities on the most affordable list--which is another way of saying the lowest priced zip codes--include Willmar ($165,072), Moorhead ($166,569), St. Cloud ($167,552) and Albert Lea ($170,929).

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