REAL ESTATE : Biggest Gain in County Housing Prices Is at Top of Market, TRW Study Says

How much is your Orange County house actually appreciating? A lot, but maybe not as much as you think.

According to a study by TRW Real Estate Information in Colton, the demand these days is greater by far for more expensive homes.

The rise in home prices at the lower end of the price scale is still impressive, but only half that of the more posh houses.

Overall, home prices rose 15.9% in the county over the last year. Unlike other surveys, TRW says it counts every new house, used house and condominium sold.

But the top 25% most expensive homes rose 17.6% in price over the year. The lowest-priced 25% rose only 9.6%.

The same thing happened across the state, TRW said Thursday. The “much-touted increase in demand is for more expensive homes” sought mostly by buyers who already own a home, the company said.

First-time buyers are a shrinking percentage of the market as home prices rise, according to many sources.

While Orange County has one of the most expensive housing markets in the country, its average appreciation rate of 15.9% was not even the highest in the state, although it was in the upper range.

That honor went to Ventura County, up 17.8%. San Diego County came in second at 17.6%. Orange County was third.