The 25 most expensive housing markets in the US

The most expensive housing markets in America are primarily packed into one state: California.

The Golden State dominates Coldwell Banker's annual Home Listing Report, which ranks the most expensive places to purchase homes in America, claiming every spot in the top 10 and 18 total out of the top 25.

To determine the most expensive cities, Coldwell Banker analyzed the average listing price of more than 50,000 four-bedroom, two-bathroom homes for the period between January 2016 and June 2016. The ranking covered 2,168 markets across the US, excluding any with fewer than 10 listings.

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."

Looking even deeper, six cities within the top 10 can be found inside Silicon Valley, which makes sense given the multitude of growing tech companies that are paying top dollar to attract new employees - and homebuyers - to the area.

"In Silicon Valley, you've got Apple, you've got Google, you've got Facebook. You've got the big players in the new tech economy," Young said. "For the foreseeable future, they're there, and that's going to drive those markets."

And at the end of the day, "you can't discount the fact that it's California," Young noted. It's always been an aspirational place to live - and that isn't likely to change any time soon.

Read on to check see which cities make up the 25 most expensive housing markets in America, where the average listing price is at least $1 million.