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Home-Price Appreciation in State’s Counties : Our Increases Are Not Keeping Pace

You might think that in recent years the county has been in a class by itself in home-price appreciation. Well, think again.

Six California counties have exceeded Orange County’s 54.7% appreciation rate for new homes since 1985, according to data released by the Construction Industry Research Board.

Top ranking goes to San Francisco, where the price of a new home nearly doubled in the period. Los Angeles also topped Orange County with a 58.5% gain. Two other neighboring counties that have lured buyers from Orange County with generally lower home prices did not keep pace in appreciation: Riverside County’s average price rose 39.8%, and San Diego County checked in at 40.7%.

With an average sale price of $246,500 through the first 9 months of 1988, Orange County ranked fifth among counties surveyed by the board. San Francisco again was tops at $311,500, followed by San Mateo County, Ventura County and Santa Clara County.

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Orange County ranked fourth in price per square foot, at $123.85. The average size of a new home in the county, 1,990 square feet, has increased almost 20% since 1985.

PERCENTAGE INCREASE IN AVERAGE NEW-HOME PRICE IN SELECTED COUNTIES

San Francisco: 96.8%

Ventura: 77%

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San Joaquin: 62.4%

Los Angeles: 58.5%

Contra Costa: 58.2%

Santa Clara: 56.9%

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Orange: 54.7 San Bernardino: 50.8%

San Diego: 40.7%

Riverside: 39.8%

State: 32.5%

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Source: Construction Industry Research Board

NEW HOME PRICES AND SIZES

1985 SALES 1988 SALES (1st 9 Average Liv. Area Price/ Average Liv. Area Price (Sq. Ft.) (Sq. Ft.) Price (Sq. Ft.) California $143,000 1,650 $86.70 $189,500 1,890 SELECTED COUNTIES Orange County $159,300 1,665 $95.70 $246,500 1,990 Alameda $159,400 1,670 $95.45 $230,200 1,865 Contra Costa $154,900 1,690 $91.65 $245,000 2,090 Fresno $91,700 1,610 $56.95 $120,800 1,910 Kern $97,100 1,595 $60.90 $106,400 1,685 Los Angeles $150,500 1,665 $90.40 $238,600 2,010 Riverside $105,900 1,540 $68.75 $148,100 1,840 Sacramento $107,100 1,685 $63.55 $137,400 1,875 San Bernardino $92,000 1,495 $61.55 $138,700 1,765 San Diego $141,200 1,690 $83.55 $198,700 1,910 San Francisco $158,300 1,340 $118.10 $311,500 1,585 San Joaquin $85,600 1,340 $63.90 $139,000 1,935 San Mateo $212,400 1,720 $123.50 $288,000 1,865 Santa Clara $165,900 1,615 $102.70 $260,400 1,930 Solano $123,900 1,615 $76.70 $153,600 1,920 Sonoma $123,400 1,595 $77.35 $174,900 1,875 Stanislaus $79,000 1,400 $56.40 $108,700 1,615 Ventura $152,600 1,840 $82.95 $270,100 2,360

Months) Price/ (Sq. Ft.) California $100.25 SELECTED COUNTIES Orange County $123.85 Alameda $123.45 Contra Costa $117.20 Fresno $63.25 Kern $63.15 Los Angeles $118.70 Riverside $80.50 Sacramento $73.30 San Bernardino $78.60 San Diego $104.00 San Francisco $196.50 San Joaquin $71.85 San Mateo $154.40 Santa Clara $134.90 Solano $80.00 Sonoma $93.30 Stanislaus $67.30 Ventura $114.45

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Source: Construction Industry Research Board


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