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COLDWELL BANKER ANNOUNCES HOME PRICE SURVEY RESULTS FOR U.S., CANADA AND PUERTO RICO; 2,200-SQ.-FT. HOME IS LEAST EXPENSIVE IN OKLAHOMA CITY

 MISSION VIEJO, Calif., Jan. 12 /PRNewswire/ -- A 2,200-square-foot home could be bought in the United States for as little as $89,258 in Oklahoma City, or as much as $920,000 in Beverly Hills, Calif., according to an annual Coldwell Banker survey, the "Home Price Comparison Index."
 Coldwell Banker surveys over 250 of its own offices during the last quarter of each year to determine the average sales price of a 2,200-square-foot home in each market. The "Home Price Comparison Index" studies a single-family dwelling with four bedrooms, 2 1/2 baths, family room and two-car garage.
 There are six markets in this year's study where a 2,200-square-foot home costs under $100,000, including Kansas City (Wyandotte County), Kan.; Oklahoma City; Corpus Christi and Fort Worth, Texas, in the United States; and Montreal, Quebec, and Halifax, Nova Scotia, in Canada.
 There are five markets where the subject home costs over $500,000, including Beverly Hills, La Jolla, San Francisco and San Mateo, Calif., and Honolulu.
 The highest-priced market, Beverly Hills, dropped to $920,000 this year, compared with an over-$1 million sales price since 1991.
 The median price of all homes surveyed is $197,617 for 1993, compared with $199,993 for 1992.
 International home prices featured in the study include a list of five markets in Canada and Puerto Rico. The cost of a 2,200-square-foot home in San Juan, Puerto Rico, was $198,750, while a similar home in Vancouver, British Columbia, sells for approximately $292,300.
 The survey gives an index number for each market, so homeowners can calculate the cost to replace their home in another location. Using the formula provided in the study, a 2,200-square-foot home in Chicago (Lincoln Park), with a market value of $350,000 would cost approximately $165,591 in Scottsdale, Ariz.
 Chandler Barton, president and chief executive officer of Coldwell Banker Corp., says, "This annual study gives relocating homeowners an idea of how far their dollars stretch in different markets in North America."
 The Home Price Comparison Index is compiled annually by Coldwell Banker Corp., headquartered in Mission Viejo. Coldwell Banker has over 2,100 residential real estate offices and over 50,000 sales associates and employees in the United States, Canada and Puerto Rico.
 -0- 1/12/94
 /NOTE TO EDITORS: For statistics of all 251 markets and black and white photo, contact Carol Beekman./
 /CONTACT: Carol Beekman of Coldwell Banker, 714-367-2446 or 800-733-6629/


CO: Coldwell Banker Corp. ST: California IN: FIN SU:

JL-LS -- LA003 -- 1258 01/12/94 08:02 EST
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Publication:PR Newswire
Date:Jan 12, 1994
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