Lancaster home prices break barrier; Palmdale up sharply

first_imgPALMDALE – Lancaster and Palmdale home prices hit records again in September, as Lancaster’s median price for the first time topped $300,000. Lancaster’s median price for both new and resale homes hit $301,235, up from $297,000 in August and a gain over the past 12 months of 28.1 percent, according to statistics released by the California Association of Realtors. Palmdale’s median price climbed to $344,250, up from $330,000 in August and 25.2 percent ahead of a year earlier. The Antelope Valley price gains contrasted with home prices’ statewide performance, which saw the state median price dip 4.4 percent between August and September. In Santa Clarita, the median price was $542,500, up from $539,000 in August but still below the $559,000 record set in July. Los Angeles County’s median price was $497,000, up 22.9 percent since September 2004. September’s price gains means Lancaster home prices have quadrupled and Palmdale prices nearly so since bottoming out in 1999 at the end of the deep 1990s home-buying slump. In December 1999, the median price was $75,000 in Lancaster and $84,000 in Palmdale. Statewide, the 10 cities and communities with the highest median home prices in California during September 2005 were: Palos Verdes Estates, $1,600,000; Manhattan Beach, $1,578,000; Burlingame, $1,419,000; Los Altos, $1,410,500; Newport Beach, $1,399,000; Coronado, $1,350,000; Saratoga, $1,314,000; Calabasas, $1,218,000; Carmel, $1,200,000; Hermosa Beach, $1,200,000. Statewide, the 10 cities and communities with the greatest median home price increases in September 2005 compared with the same period a year ago were: Reedley, 89 percent; Twentynine Palms, 81 percent; Sanger, 79 percent; Laguna Hills, 60 percent; Barstow, 57 percent; Upland, 53 percent; Adelanto, 52 percent; Ripon, 52 percent; Merced, 50 percent; Taft, 48 percent.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week “The September median home price compared with August has fallen every year since 1993, and in 20 of the last 26 years,” said CAR President Jim Hamilton. “This year is no exception and is part of the seasonal shift to an off-peak period in the real estate market as we approach year’s end.” Despite the slowdown for California market as a whole, the median price in the High Desert, Riverside/San Bernardino, Santa Barbara South Coast and San Luis Obispo regions hit record highs last month, Hamilton said. The median price of an existing, single-family detached home in California during September 2005 was $543,980, down from $568,730 in August but up 17.3 percent over the year. Rosamond’s median price returned to $270,000, up from $260,000 in August and the same as the record it set in July. Over the last 12 months, Rosamond prices are up 30 percent. Prices were up 28.3 percent over the year in Tehachapi to $281,000. Tehachapi’s August median was $280,000. last_img

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