La Jolla Homes Ranked Among Costliest in U.S.
Seven California cities were among the 10 areas across the country with the most expensive four-bedroom, 2 1/2-bath executive-style homes, according to a survey by Coldwell Banker Residential Group.
Beverly Hills was No. 1, with a price tag of $1.49 million for such a 2,200-square-foot dwelling in 1990. That was more than twice that of runner-up La Jolla, at $686,625.
Besides Beverly Hills, three other communities in greater Los Angeles made the list: San Marino ($639,000), Newport Beach ($606,667) and the Palos Verdes Peninsula ($533,333).
In Northern California, San Francisco ($615,000) and its San Mateo suburb ($567,500) also were listed in the top 10.
Outside California, the most expensive cities to buy a four-bedroom executive home were Greenwich, Conn. ($585,000), Honolulu ($506,250) and Chicago’s Lincoln Park ($491,667).
And the other end of the list? According to the survey released this week, a similar house in Corpus Christi, Tex., cost $82,338, one in Oklahoma City cost $85,200, and one in Evansville, Ind., cost $89,933.
Despite the recession and the downturn in real estate prices, California’s beaches, weather and high standard of living remain a powerful lure, said Ken Agid, an Irvine-based real estate consultant.
“It’s because the sun shines, and a lot of people want to live here and there aren’t enough houses,” Agid said.
The following is a list of the most and least expensive areas to buy a four-bedroom, 2 1/2-bath, 2,200-square-foot executive-style house in 1990, according to the Coldwell Banker Residential Group survey.
HIGHEST
1. Beverly Hills, $1,491,667.
2. La Jolla, $686,625.
3. San Marino, $639,000.
4. San Francisco, $615,000.
5. Newport Beach, $606,667.
6. Greenwich, Conn., $585,000.
7. San Mateo, $567,500.
8. Palos Verdes Peninsula, $533,333.
9. Honolulu, $506,250.
10. Chicago-Lincoln Park, $491,667.
LOWEST
1. Omaha, Neb., $99,846.
2. Memphis, Tenn., $97,283.
3. Ft. Smith, Ark., $95,775.
4. San Antonio, $94,000.
5. Kansas City, Kan., $93,363.
6. Tulsa, Okla., $92,443.
7. Jackson, Mich., $92,253.
8. Evansville, Ind., $89,933.
9. Oklahoma City, $85,200.
10. Corpus Christi, Tex., $82,338.
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