San Jose and San Francisco remain the two most expensive major metropolitan areas in U.S. for single-family homes, but the gap between the two and the completion has narrowed a bit as the median price dropped for both areas in the third quarter of 2014.

The median price for the San Jose area, which includes Sunnyvale and Santa Clara, dropped by 4 percent to $860,000 in the third quarter while the median price for a single-family home within the San Francisco metropolitan area, which includes Oakland and Fremont, dropped by 3 percent to $744,400.

At the same time, the median sale price for homes across the U.S. increased 2 percent from the second to third quarter of the year to $217,300, up 4.9 percent on a year-over-year basis, according to the National Association of Realtors.

Rounding out the top five most expensive housing markets for a single-family home, behind San Jose and San Francisco for the second quarter in a row: the Anaheim/Santa Ana, California metro area at $697,000; Honolulu at $677,600; and the San Diego area at $517,800.

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