ALMANAC / HOMES, PRICE TAGS GET BIGGER

While at first glance it appears that the real estate boom of the past decade doubled the average price of a new home in Orange County, that’s not the whole story.

Although prices were going up--from $171,200 in 1982 to $341,200 in 1990--the average new home was getting bigger. Living area increased 23% over the past nine years to 2,190 square feet. Taking home size into account, the average price per square foot has increased a more modest 62%.

For homeowners who left two-bedroom homes for larger quarters in 1990, buying a new three-bedroom home meant paying an average of 43% more money, but they gained 52% more living space. Owners of three-bedroom homes didn’t fare so well in upgrading to four bedrooms. They paid an average of 49% more but gained only 29% more space.

AVERAGE HOME PRICE* In thousands of dollars: 1982: $171 1983: $164 1984: $166 1985: $159 1986: $184 1987: $198 1988: $255 1989: $335 1990: $314 *NOTE: Includes attached and detached single-family homes and condominiums. Average price in 1990, followed by living area: TWO-BEDROOM HOMES $201,300 1,260 sq. ft. THREE-BEDROOM HOMES $288,400 1,910 sq. ft. FOUR-BEDROOM HOMES $429,200 2,850 sq. ft. NUMBER OF BEDROOMS LESS THAN TWO: 3.0% TWO: 24.5% THREE: 29.7% FOUR: 34.4% FIVE OR MORE: 8.4% Source: Construction Industry Research Board