The average price of a typical corporate transferee home was $176,000 in 1988, according to findings of the new 1989 Coldwell Banker Home Price Comparison Index, a study of similar homes in 175 markets in the U.S. and Canada.
Prices for the homes surveyed ranged from a low $75,098 in Oklahoma City to $842,000 in Beverly Hills, California. Subject homes in two-thirds of the markets researched sold for less than the index average.
"In Buffalo, that type of home would have been priced at about $131,000," according to Barbara Neureuter, president of Coldwell Banker Neureuter Real Estate.
"This represents an increase of 8.4 percent from our 1987 statistics," said Mrs. Neureuter.
The Coldwell Banker HPCI tracked sales price and estimated annual taxes and monthly rent of a similar house in 171 U.S. and four Canadian markets in December 1988. The HPCI subject home is a single family dwelling of approximately 2,000 square feet with three bedrooms, two baths, a family room (or equivalent) and two-car garage. The home and neighborhood are typical for a corporate transferee. The HPCI also shows the average change in home values for each total market from December 1987 to December 1988.
Copies of the HPCI are available at Coldwell Banker Neureuter Real Estate, located at 113 Buffalo Street, Hamburg, and at Coldwell Banker Curtin and Scarcello, 395 Potters Road, West Seneca. For information call 648-7700.
Coldwell Banker has more than 2,100 residential real estate offices and more than 38,000 sales associates across the nation, and is a member of the Sears Financial Network.