Home Prices for 6 Months Move Higher : Research Council Tracks Values in 6 Southland Counties

The average appraised value of 208 existing single-family houses in six Southland counties reached $140,200 in October, up from the $136,300 in April, according to the Real Estate Research Council of Southern California.

The results of the latest home price survey were released at Thursday’s meeting of the council at Cal Poly Pomona. The survey sample included single-family detached houses in Los Angeles, Orange, Ventura, San Bernardino, Riverside and San Diego counties, according to the council’s executive director, Michael Carney.

The six sample houses in Santa Barbara County were not included in the October survey.

Specific Houses’ Prices

Carney said the market price index of the 208 sample houses increased 8.94% from October, 1985 to October, 1986. The index stood at 335 in October (1975=100), up from 308 in October, 1985.

He said the survey is valid in reporting percentage changes in prices of specific houses in the seven counties, but not necessarily the level of prices in the community.

“While average prices in the survey continue to rise at about 8% a year, the acceleration in home prices that was evident in the prior survey appears to have leveled off,” Carney said.

Seventy-three percent of the sample homes increased in value, compared with 82% in the previous survey. On the other hand, prices rose by 10% or more for 42 houses (20% of the sample), higher than usual, Carney said.

Surveyed houses in Los Angeles County experienced the largest six-month increase, 4.99%, with those in Ventura County second at 4.67%, Carney added. Average prices in each of the other four counties rose at about the same 3% over the past six months.

Selected prices--not to be construed as average or typical for the community involved--in the six counties follow, with April, 1986, prices and indexes (1975=100) in parentheses:

LOS ANGELES COUNTY

Panorama City, $98,000, 363 ($86,000, 319); Burbank, $150,000, 417 ($144,00, 400); Glendale, $230,000, 460 ($205,000, 410); Pasadena, $114,800, 489 ($114,000, 485); San Marino, $250,000, 357 ($330,000, 471); Pomona, $82,000, 328 ($80,000, 320).

Also, Whittier, $100,000, 455 ($90,000, 409); Long Beach, $232,000, 414 ($275,000, 491); Torrance, $140,500, 390 ($132,000, 368); Beverly Hills, $1,27 million ($1,14 million, 530); West Los Angeles, $315,200,478 ($292,000,442), and Santa Monica, $225,000, 479 ($175,000,372).

ORANGE COUNTY

Anaheim, $106,000, 326 ($100,000, 308); Fullerton, $147,000, 330 ($128,000, 288); Santa Ana, $104,000, 371 ($102,000, 364); Garden Grove, $120,000, 340 ($119,000, 309); Newport Beach, $175,000, 340 ($168,000, 326); San Juan Capistrano, $180,000, 298 ($175,000, 289).

VENTURA COUNTY

Oxnard, $100,000, 400 ($100,000, 400); Ventura, $128,000, 406 ($126,999, 400).

RIVERSIDE & SAN BERNARDINO COUNTIES

Corona, $90,000, 346 ($83,000, 319); Riverside, $76,900, 261 ($85,000, 288); Ontario, $81,000, 372 ($73,000, 336); San Bernardino, $57,900, 246 ($67,000, 285); Rancho Cucamonga, $195,000, 314 ($190,000, 306).

SAN DIEGO COUNTY

Pacific Beach, $165,000, 371 ($150,000, 337); Las Mesa, $100,000, 308 ($100,000, 308); Chula Vista, $122,000, 231 ($116,000, 22); Poway, $298,000, 218 ($295,000, 216); Carlsbad, $146,000, 279 ($145,000, 277).