Do you live in one of the most expensive housing markets? If you live in Honolulu, Hawaii then you live in the most expensive housing market.

A report by CNNMoney.com lists the top ten most expensive housing markets in the United States and Honolulu ranks number one. The median home price on the island paradise is $579,300. Coming in at number five is New York where the median home price is $439,300, and at number ten is Barnstable, Massachusetts where the median home price is $299,000.

Ali Velshi takes a look at the cities with the highest real estate prices on American Morning. You can also visit CNNMoney.com for more information.