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

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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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