CLIPBOARD : Single-Family Home Market

Orange County’s home-building industry may be suffereing through hard times, but that has not kept the prices of new detached single-family residences from increasing. According to a survey by the Construction Industry Research Board, the price for such homes in the county last year was in excess of $400,000--by far the highest average in Southern California. And that was an 8% increase above the 1989 average. At the same time, the average size of these homes also increased 8%.

While Orange County had the highest average price, the percentage increase in three other counties--most notably Los Angeles--was higher. And in Los Angeles and Riverside counties, the two with the highest price percentage increases, the size increase did not match the price jump. In only one county, Ventura, did the average price increase and the average size decrease (albeit marginally). Here’s the comparison:

Average % Change Average Size % Change County Price From 1989 (Square feet) From 1989 Orange 423,500 +8 2,705 +8 Los Angeles $382,200 +26 2,440 +10 Riverside 189,500 +15 1,995 +7 San Bernardino 190,400 +8 1,995 +4 San Diego 293,000 +11 2,260 +7 Ventura 401,900 +5 2,500 -1 STATEWIDE 239,900 +6 2,080 +3

PERCENTAGE OF ALL NEW HOMES SOLD

1990 1989 Orange County 61 69 Los Angeles 72 76 Riverside 90 92 San Bernardino 96 95 San Diego 79 80 Ventura 75 79

STATEWIDE 1989: 85% 1990: 87%

Source: Construction Industry Research Board