Inland SoCal's rise in million-dollar tract homes

By gedward on January 14, 2006 12:06 PM | Permalink | Comments (0)

Although million-dollar homes within Inland Southern California are nothing new, the increasing number of them on the market is growing quite rapidly. In the past, most million-dollar homes were typically single-built, custom homes. Nowadays, it's not uncommon to see new tract-built homes selling for upwards of $750,000+. Naturally, as home prices toward the coast rise, the Inland areas closest to Orange and Los Angeles counties are seeing the largest increase in overall prices -- both with new as well as resales.

2004
South Corona

Over the past 15 years, the city of Corona has seen tremendous growth in its housing stock as former citrus groves within its southern section have given way to large swaths of housing tracts. As the first stop along the Riverside Freeway inbound from Orange County, the city has seen a dramatic rise in the number of million-dollar homes, many of which are sold in newly built tracts. In fact, the past few years has seen the area along I-15 just outside the city's southern limits (i.e., the "Temescal Valley") populated with higher-end, master-planned housing developments, some with new homes starting at $1 million dollars.

Like it or not, it appears the days of affordable new housing anywhere within Greater Los Angeles is drawing to a close.

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