REAL ESTATE : Surge in January Sales of New Homes Led by Mid-Priced Models

Orange County sales of moderately priced new homes more than tripled last month from the sales posted in January, 1993, according to figures from Kenneth Leventhal & Co., an accounting firm in Newport Beach. During January, 1994, 636 homes were sold in the county as compared to 177 homes sold in January, 1993, according to the study, which surveyed sales of detached homes priced from between $185,000 to $240,000.

“It’s great news,” said Dave Chapman, a senior manager at Kenneth Leventhal. “The surge in sales in January was led by detached product in the low-$200,000s but other types of product experienced good sales as well,” he said. Chapman pointed out that J.M. Peters Co. sold 11 houses in Coto de Caza priced in the mid-$300,000s last month. Last year, that development sold 40 homes.