California Home Prices Soar to Over Double National Average, With $5 Million Buying Lavish Mansions in Exclusive Areas
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California home prices are more than double the national average, with a typical value of $746,055 compared to $346,048 nationally.
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The most expensive markets in California include Atherton ($7.3 million typical home value), Beverly Hills ($5.5 million), and Los Altos Hills ($5.1 million).
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$5 million can buy high-end homes ranging from 3,000 to 5,600 square feet in exclusive areas like Beverly Hills, Hidden Hills, Malibu, and Newport Beach.
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Luxury features include chef's kitchens, guest houses, home theaters, pools/spas, patios, mountain/ocean views, and large lots up to 3 acres.
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Popular celebrity enclaves like Montecito and Hidden Hills have homes in this price range, along with Silicon Valley suburbs like Saratoga and Palo Alto.