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COLDWELL BANKER ANNOUNCES ANNUAL HOME PRICE SURVEY RESULTS FOR UNITED STATES, CANADA AND PUERTO RICO

 2,200-Square-Foot Home is Least Expensive
 in Texas, Arkansas, Kansas and Oklahoma
 MISSION VIEJO, Calif., March 10 /PRNewswire/ -- A 2,200-square- foot home can be bought in the United States for as little as $87,766 in Corpus Christi, Texas, or as much as $1,096,666 in Beverly Hills, Calif., according to an annual Coldwell Banker survey, the "Home Price Comparison Index." Coldwell Banker surveys its own offices to determine the average sales price of a subject home which gives relocating homeowners an idea of how far their housing dollars stretch in different markets across North America.
 The survey compares the average sales price of a subject home in 266 markets during the last quarter of 1992. The subject home is a single-family dwelling of approximately 2,200 square feet with four bedrooms, 2 1/2 baths, family room (or equivalent) and two-car garage.
 There are six markets in this year's study where a 2,200-square- foot home costs less than $100,000, including Fort Smith, Ark.; Kansas City (Wyandotte County), Mo.; Leavenworth, Kan.; Oklahoma City and Tulsa, Okla.; and Corpus Christi, Texas.
 There are eight markets where the subject home costs more than $500,000, including Greenwich, Conn.; Honolulu; and six cities in California -- Beverly Hills, La Jolla, Newport Beach, San Francisco, San Marino and San Mateo.
 Beverly Hills has consistently been the highest-priced market in the study since 1984, and the subject home has had more than a $1 million sales price since 1991.
 The median price of all subject homes in the study is $199,993 for 1992, compared with $198,007, for 1991. Chandler B. Barton, chairman and chief executive officer of Coldwell Banker Residential Group, says, "1993 should bring a turn-around in the resale housing markets, especially in the South and the Midwest, which had strong sales during 1992."
 International home prices featured in the study include a list of 19 markets in Canada, as well as Puerto Rico. The cost of the 2,200-square-foot home ranged from a low of $107,357 (in U.S. dollars) in St. John's Newfoundland, to a high of $355,000 in Central Toronto, Ontario. The San Juan, Puerto Rico, subject home price is $219,123.
 The survey also gives an index number so homeowners can calculate the cost to replace their own home in another location. Using the formula provided in the study, a 2,200-square-foot home in Naperville, Ill., with a market value of $179,400 would cost approximately $135,244 in Spokane, Wash.
 The Home Price Comparison Index is compiled annually by Coldwell Banker Residential Group, headquartered in Mission Viejo. Coldwell Banker has more than 2,000 residential real estate offices and nearly 44,000 sales associates in the United States, Canada and Puerto Rico.
 -0- 3/10/93
 /EDITOR'S NOTE: For statistics of all 266 markets and black and white photo contact Carol Beekman./
 /CONTACT: Carol Beekman of Coldwell Banker Residential Group, 714-367-2446 or 800-733-6629/


CO: Coldwell Banker Residential Group ST: California IN: FIN SU:

JL-LS -- LA001 -- 4816 03/10/93 09:03 EST
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Publication:PR Newswire
Date:Mar 10, 1993
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