New Home Prices In North County

The table below gives the "average prices of new homes" for the second quarter of 1997 and 1998 (April, May and June), sorted by the average rank (high to low) of both years. New home prices are significantly higher than existing home prices for a variety of reasons. New homes are significantly larger (2400 square feet on average vs. 1700 for existing homes) and their price must include developer's fees, which then require larger houses to recover the fee (see Caveats On Interpreting Sales Price Increases). Temecula and Murrieta in Riverside County are often considered part of San Diego's North County, and are included.

CommunityNew Home Price ($)Rank
Rancho Sante Fe885,0001,235,200111
Del Mar400,979476,044333
Rancho Penasquitos411,677301,187295.5
Valley Center281,900342,233787.5
Rancho Bernardo226,471389,1291057.5
San Marcos190,776234,556131212.5
San Diego County255,000320,000 

Source: Market Profiles' "Residential New Home Trends," July, 1998, as given in NCT 7/30/98, A8; Alan Nevin, chief economist for Market Profiles of San Diego, in NCT, 8/23/98, B8.

The average size of a new single family home in the county increased by 165 square feet, to 2,400 square feet. The average price per square foot was $133, compared to the previous year's $114. An average lot size is 5,000 square feet.

Copyright © 1998 by Tom Chester.
Permission is freely granted to reproduce any or all of this page as long as credit is given to me at this source:
Comments and feedback: Tom Chester
Last update: 23 August 1998.