La Jolla Homes Ranked Among Costliest in U.S.

L.A. Times Archives

Feb. 23, 1991 12 AM PT

Associated Press

LOS ANGELES —

Seven California cities were among the 10 areas across the country with the most expensive four-bedroom, 2 1/2-bath executive-style homes, according to a survey by Coldwell Banker Residential Group.

Beverly Hills was No. 1, with a price tag of $1.49 million for such a 2,200-square-foot dwelling in 1990. That was more than twice that of runner-up La Jolla, at $686,625.

Besides Beverly Hills, three other communities in greater Los Angeles made the list: San Marino ($639,000), Newport Beach ($606,667) and the Palos Verdes Peninsula ($533,333).

In Northern California, San Francisco ($615,000) and its San Mateo suburb ($567,500) also were listed in the top 10.

Outside California, the most expensive cities to buy a four-bedroom executive home were Greenwich, Conn. ($585,000), Honolulu ($506,250) and Chicago’s Lincoln Park ($491,667).

And the other end of the list? According to the survey released this week, a similar house in Corpus Christi, Tex., cost $82,338, one in Oklahoma City cost $85,200, and one in Evansville, Ind., cost $89,933.

Despite the recession and the downturn in real estate prices, California’s beaches, weather and high standard of living remain a powerful lure, said Ken Agid, an Irvine-based real estate consultant.

“It’s because the sun shines, and a lot of people want to live here and there aren’t enough houses,” Agid said.

The following is a list of the most and least expensive areas to buy a four-bedroom, 2 1/2-bath, 2,200-square-foot executive-style house in 1990, according to the Coldwell Banker Residential Group survey.

HIGHEST

1. Beverly Hills, $1,491,667.

2. La Jolla, $686,625.

3. San Marino, $639,000.

4. San Francisco, $615,000.

5. Newport Beach, $606,667.

6. Greenwich, Conn., $585,000.

7. San Mateo, $567,500.

8. Palos Verdes Peninsula, $533,333.

9. Honolulu, $506,250.

10. Chicago-Lincoln Park, $491,667.

LOWEST