Survey: $1.7M Difference For Same Size Home
California, Texas Homes At Opposite Ends Of Spectrum
Posted: 11:35 am EDT September 22, 2005Updated: 11:49 am EDT September 22, 2005
PARSIPPANY, N.J. -- If you're trying to decide between a 2,200 square foot home in La Jolla, Calif., and Killeen, Texas, this may help. On the Coast, you'll pay just under $1.9 million, while in the Lone Star State, it'll run you a little over $131,000.Those figures come from the annual Coldwell Banker Home Price Comparison Index. The HPCI evaluated average home values for a single-family dwelling measuring approximately 2,200 square feet with four bedrooms, two and a-half baths, a family room (or equivalent) and two-car garage."The HPCI reinforces what we have been saying all year -- the real-estate market remains strong," said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate Corporation. Other findings in the survey:
- The cumulative average sales price of the 319 markets studied is $401,767 -- up more than 13 percent from 2004.
- Of the markets surveyed, 52 percent have an average home price of less than $300,000.
- Nine of the country’s top 10 most expensive markets are in California. Greenwich, Conn., rounds out the top 10 list. Other high-ticket areas outside of California are along the East Coast, including Boston ($1,260,000), Rye, N.Y. ($869,125), and Bethesda/Chevy Chase, Md. ($829,750). Note that Manhattan (N.Y.) was not included in the study due to a lack of single-family homes.
- Among the top 10 most affordable markets, three are in Texas (Killeen, Arlington, Fort Worth) and two are in West Virginia (Beckley, Parkersburg).
- California has the greatest variance within the same state at $1,485,542 between La Jolla at the high end ($1,875,000) and Fresno at the low end ($389,458).
- Among the major cities included in the HPCI, the average home price for San Francisco was $1,300,000, with Boston averaging $1,260,000 and Chicago $815,000.
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- August 18, 2005: Mortgage Rates Ease Slightly
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Distributed by Internet Broadcasting Systems, Inc. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.













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