Existing home sales dip, but prices vary wildly. Top 5 most, least expensive cities.

By , Business editor

2. Pacific Palisades, Calif. – $1,606,992

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    In this June 23, 2009 photo, a "reduced price" sign is seen on a home for sale in the Pacific Palisades area of Los Angeles. But even with the housing slump, a four-bedroom home in this exclusive neighborhood will still average $1.6 million.
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Known as "Where the mountains meet the sea," this district of the city of Los Angeles is home to several Hollywood celebrities and has been used as a filming location for numerous movies, such as “Freaky Friday,” and various TV series, including “Baywatch” and more recently “Curb Your Enthusiasm,” which is filmed in the house of the character and Pacific Palisades resident Larry David. At an average $1.6 million listing for a four-bedroom house, it’s hard to believe that the district’s real estate is $900,000 cheaper than the No. 1 most expensive locale for a suburban home, which is....

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