As one of the oldest adages in real estate goes, home value is all about location, location, location — especially when it comes to price.
Home prices are on the rise across the U.S., especially in cities with a shortage of new developments and entry-level properties. Some places are so short on properties that bidding wars break out, driving home prices up even further.
The National Association of Realtors tracks the median sale prices of homes across every metro area in the U.S., revealing where you'll have to shell out the most to become a homeowner.
As of the first quarter of 2017, here are the most expensive places to buy a home.
15. White Plains, NY
Metro area: New York-Jersey City-White Plains, NY-NJ
Median price of a single-family home: $376,800
14. Washington, D.C.
Metro area: Washington-Arlington-Alexandria, DC-VA-MD-WV
Median price of a single-family home: $383,500
13. New York, NY
Metro area: New York-Newark-Jersey City, NY-NJ-PA
Median price of a single-family home: $386,000
12. Denver, Colo.
Metro area: Denver-Aurora-Lakewood, CO
Median price of a single-family home: $396,100
11. Boston, Mass.
Metro area: Boston-Cambridge-Newton, MA-NH
Median price of a single-family home: $414,200
10. Seattle, Wash.
Metro area: Seattle-Tacoma-Bellevue, WA
Median price of a single-family home: $422,100
9. Naples, Fla.
Metro area: Naples-Immokalee-Marco Island, FL
Median price of a single-family home: $435,000
8. Long Island, NY
Metro area: Nassau County-Suffolk County, NY
Median price of a single-family home: $443,200
7. Los Angeles, Calif.
Metro area: Los Angeles-Long Beach-Glendale, CA
Median price of a single-family home: $485,800
6. Boulder, Colo.
Metro area: Boulder, CO
Median price of a single-family home: $548,400
5. San Diego, Calif.
Metro area: San Diego-Carlsbad, CA
Median price of a single-family home: $564,000
4. Honolulu, HI
Metro area: Urban Honolulu, HI
Median price of a single-family home: $746,000
3. Anaheim, Calif.
Metro area: Anaheim-Santa Ana-Irvine, CA
Median price of a single-family home: $750,000
2. San Francisco, Calif.
Metro area: San Francisco-Oakland-Hayward, CA
Median price of a single-family home: $815,000
1. San Jose, Calif.
Metro area: San Jose-Sunnyvale-Santa Clara, CA
Median price of a single-family home: $1,070,000
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