Post by red on Jan 26, 2006 7:53:11 GMT -8
www.sgvtribune.com/news/ci_3437428
The median home price in Los Angeles County dropped from $575,310 in November to $552,760 in December, according to figures released Wednesday by the California Association of Realtors.
But the December figure represents a significant increase when compared to the $463,450 median home price in December 2004.
But the December figure represents a significant increase when compared to the $463,450 median home price in December 2004.
One in 13 homes sold for more than $1 million in 2005, up from one in 20 homes in 2004. This increase attests to the appreciation of home prices. A home that sold for $700,000 five years ago now sells for $1 million, Appleton-Young said.
The market is leveling off and some prices will drop, said Marty Rodriguez, owner of Century 21 Marty Rodriguez in Glendora. A home that needs work or that is on a busy street might see price reductions, she said, since a buyer has more choices and doesn't have to take those homes anymore. but others won't be affected.
"The best quality listing is going to sell," she said.
The market is leveling off and some prices will drop, said Marty Rodriguez, owner of Century 21 Marty Rodriguez in Glendora. A home that needs work or that is on a busy street might see price reductions, she said, since a buyer has more choices and doesn't have to take those homes anymore. but others won't be affected.
"The best quality listing is going to sell," she said.