The Long Slide Continues
Residential property values in California have now fallen 17% since peaking in the middle of 1990, according to a survey by DataQuick Information Systems and KPMG Peat Marwick. The slide has been far more severe in Southern California than in the northern half of the state, but the survey also found that prices in some high-income zip codes in Los Angeles County have rebounded in the past 12 months. For example, the survey found, home-prices have increased nearly 12% in Pacific Palisades 90272, 8% in Manhattan Beach 90266, and 3.2% in Beverly Hills 90210. Percentage changes in home value:
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County One-year Five-year Los Angeles -2.8% -24.7% Orange -2.5 -18.9 Riverside -5.9 -22.6 San Bernardino -7.7 -20.3 San Diego -2.9 -14.3 Ventura -1.4 -19.7 So. Calif. total -3.7 -21.7 Alameda -1.3 -10.9 Contra Costa -2.4 -12.3 Marin +2.6 +0.8 San Francisco -1.8 -14.0 San Mateo +0.3 -10.6 Santa Clara +1.4 -9.5 Solano +0.2 -4.5 Bay Area total -0.3 -9.6 Monterey +1.7 -2.4 San Luis Obispo +1.6% -19.6 Santa Barbara -2.6 -14.0 Santa Cruz -2.0 -9.2 Coastal total -0.4 -12.4 El Dorado -6.9 -10.5 Fresno -1.1 10.5 Kern -3.4 +0.4 Napa -3.7 -4.9 Nevada -3.5 +5.4 Placer -3.2 -9.5 Sacramento -5.4 -16.0 San Joaquin -3.4 -12.3 Tulare -0.5 14.3 Yuba -3.1 -6.9 Rural total -3.0 -5.1 California total -2.8 -17.0
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Sources: DataQuick Information Systems, KPMG Peat Marwick
