With the clear grade, and the rift and quarter sawn cut, you are looking at upgrades over "standard" red oak.

You are looking in Sacramento, which seems to be a high cost area, although not as bad as some of your nearby cities.

Since the price is so close between the two contractors, that is a clue that it is reasonable. However, whether the price is actually reasonable is something that will need to be answered by someone with local knowledge. I'm not sure if there is anyone here with that information, but there might be!

2 1/4" Select grade red oak in the Northeast is currently just under $6.00 per sq ft for material only. Rift and quarter sawn is in high demand, especially for white oak. I priced out a project back in October for 4" rift and quarter red oak at $7.96 psf. for flooring only. Your pricing will depend on the width of your flooring and the mill for today's market price.

Supply and demand plays a role too. I dropped all RQ Red oak three years ago due to low demand. We had to focus on the products that were in higher demand and stopped milling the RQ Red Oak. Other manufacturers have followed.