These neighborhoods are home to the priciest residential real estate in the country.
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Life in the suburbs has never seemed more appealing. Because of the COVID-19 pandemic and the popularity of remote work, more and more Americans are choosing to leave the big city and move to smaller communities with larger homes, better schools, and a laid-back lifestyle. This, coupled with lower mortgage rates, has led to unprecedented demand for single-family homes in specific neighborhoods across the country, which, in turn, has driven home values to record highs.

"Coupland and Bear Creek, Texas, two small communities in the Austin metro area, have seen home values grow the fastest over the past year. Following closely behind are Hungry Horse and Whitefish, Montana, both of which are in the Kalispell area," said Nicole Bachaud, an economist with Zillow.

But when it comes to the priciest suburb, the undisputed winner is the beachfront enclave of Montecito, California, where the median sale price this March was more than $5 million. For comparison, the median home value in California was $758,360, which was also the country's second-highest, according to data from Zillow. The state with the highest median home value was Hawaii, with $842,487, while the District of Columbia ranked third, with $703,116.

But economists are finally starting to see signs of slowing down. As mortgage rates surpass 5%, online searches for homes on sale are down compared to this time last year, according to Redfin.

"In addition, we are seeing a fast-growing amount of sellers dropping their prices. These are all things that show a cooldown in the market after more than 18 months of a housing frenzy," said Daryl Fairweather, Redfin's chief economist. "There's still way more demand for housing than supply, but these early signs of a slowdown indicate that sellers can no longer overprice their home."

So, without further ado, read on for the most expensive suburbs in every U.S. state, broken down by median sale price value, according to data from Redfin and Zillow.

Montecito coastline in Santa Barbara, California
Credit: Joseph Tointon/Getty Images

Mountain Brook, Alabama

The median sale price of this Birmingham suburb was $720,500, with 36 homes sold in March 2022.

Palmer, Alaska

Palmer has the priciest real estate in Alaska, with a median sale price of $349,450.

Paradise Valley, Arizona

Paradise Valley is Arizona's priciest suburb, with a whopping $3,487,500 median sale price.

Rogers, Arkansas

The median home value of residential real estate in this vibrant city in the Ozarks is $412,325.

Montecito, California

This aerial view of the Montecito neighborhood of Santa Barbara, California
Credit: DAVID MCNEW/Getty Images

This swanky suburb is the priciest in California — and the country — with a median sale price of $5,600,000, which is an increase of 0.2% since March 2021.

Greenwood Village, Colorado

In March, 24 homes sold in this Denver suburb for a median sale price of $1,698,000.

Westport, Connecticut

This town, located along Connecticut's Gold Coast, is the most expensive in the state, with a median sale price of $2,410,000.

Hockessin, Delaware

The median sale price of homes in Hockessin in March 2022 was $563,500.

The Port of Palm Beach, Florida, USA
Credit: Roberto Machado Noa/Getty Images

Palm Beach, Florida

Unsurprisingly, Palm Beach is the most expensive neighborhood in Florida, with a median sale price reaching $2,207,600 in March.

Skidaway Island, Georgia

This affluent island is the priciest in Georgia, with a median sale price of $849,000.

Kaanapali, Hawaii

When it comes to priciest real estate in Hawaii, Maui's Kaanapali ranks first, with a median sale price of $1,710,438.

Eagle, Idaho

This quaint Boise suburb is the most expensive in Idaho, with 39 properties selling in March with a median value of $850,000.

Hinsdale, Illinois

The median sale price of homes in Hinsdale was $1,130,000 in March 2022.

Zionsville, Indiana

Here, 47 homes found new owners in March, and their median sale price was $599,570.

Johnston, Iowa

With a median price of $387,000, this city in Polk County, Iowa, has the most expensive real estate in the state.

Leawood, Kansas

In Leawood, Kansas, residential real estate has a median sale price of $640,000.

St. Matthews, Kentucky

The median sale price in this affluent Louisville suburb was $338,000.

Oak Hills Place, Louisiana

Twenty-one homes sold in March in this Baton Rouge suburb, and their median sale price was $390,811.

Windham, Maine

The median sale price in Wyndham was $473,500.

Chevy Chase, Maryland

The median home value in this Washington, D.C. suburb was $1,250,000.

Brookline, Massachusetts

Boston's Brookline suburb ranks first in Massachusetts, with a median sale price of $1,478,000.

Birmingham, Michigan

The median home sale price in Birmingham was $680,000.

Edina, Minnesota

With 66 homes sold in March 2022 for a median sale price of $625,000, Edina is the most expensive suburb in Minnesota.

Hernando, Mississippi

Homes sold in Hernando had a median sale value of $359,950.

Chesterfield, Missouri

In March, the 55 homes sold in Chesterfield had a median sale price of $503,400.

Panoramic view of Big Sky, Montana with pond, golf course, Lone Mountain and condos.
Credit: NicolasMcComber/Getty Images

Big Sky, Montana

Big Sky's median real estate value in March 2022 reached $1,999,482, according to Zillow.

Papillion, Nebraska

The median sale price in Papillion was $402,000.

Minden, Nevada

Real estate in this small Nevada town has a median sale price of $700,000.

Portsmouth, New Hampshire

The median sale price of homes in Portsmouth was $842,000.

Sea Isle City, New Jersey

In Sea Isle City, the median home price in March was $1,375,000.

Talaya Hill, New Mexico

The median sale price of homes in this Santa Fe neighborhood was $1,701,678.

Rye, New York

This coastal city in Westchester County has the state's most expensive real estate, with a median sale price of $1,775,000.

Lake Norman of Catawba, North Carolina

Twenty-four homes sold in this scenic North Carolina community, with a median sale price of $790,500.

Rose Creek, North Dakota

Home values in this Fargo neighborhood reached $525,581 in March.

Upper Arlington, Ohio

Upper Arlington's real estate has a median value of $543,950.

Jenks, Oklahoma

Homes in this Tulsa, Oklahoma, suburb have a median value of $411,455.

Lake Oswego, Oregon

Residential real estate in Lake Oswego is the priciest in Oregon, with a median sale value of $930,000.

Malvern, Pennsylvania

The median home value in this Chester County town was $634,264.

Newport, Rhode Island

Newport's median home value was $848,000 in March, half a percentage point more than the same period last year.

Isle of Palms, South Carolina

This South Carolina city, located on a barrier island, has the most expensive real estate value in the state — $1,325,000.

Downtown Sioux Falls, South Dakota

In South Dakota, you'll find the most expensive real estate in downtown Sioux Falls. The median sale price here in February 2022 was $497,551.

Brentwood, Tennessee

Nashville's most affluent suburb is Brentwood, with a median home value of $1,280,500.

West University Place, Texas

This Texas neighborhood ranks first in the state. Homes here have a median sale price of $1,396,000.

Park City, Utah, USA downtown in autumn at dusk.
Credit: Sean Pavone/Getty Images

Park City, Utah

With a median home value of $1,980,000, Park City is the most expensive suburb of Utah.

South Burlington, Vermont

Here, the median home value is $493,147.

Great Falls, Virginia

This northern Virginia and Washington, D.C. suburb has the priciest real estate in the Commonwealth, with a median sale price of $1,650,000.

Mercer Island, Washington

Mercer Island, off of the Seattle coast, is home to the priciest real estate in the state, with a median value of $2,150,000.

Hedgesville, West Virginia

The median sale price of homes in Hedgesville was $315,000.

Mequon, Wisconsin

Located on Lake Michigan's western shore, this Milwaukee suburb has Wisconsin's priciest real estate, with a median value of $689,900.

Moose Wilson Road, Wyoming

This Jackson suburb is home to the priciest real estate in Wyoming, with a median home value of $1,754,637.

Wesley Heights, District of Columbia

Only five homes sold in the small neighborhood of Wesley Heights during the first three months of 2022, and their median sale price was an impressive $2,452,000.