Los Angeles County Median Home Prices Surpass All-Time High

Los Angeles County median home prices have set a new record high, according to a report by CoreLogic. From May 2016 to May 2017, prices increased 5.4 percent. That median home price of $585,000 leaps over the previous high of $550,000 set in 2007, which was tied just a month ago.

The study calculated the median price of 5,205 homes sold in LA County during the time frame. Along with full county numbers for LA and Southern California’s other counties, it also provides individual neighborhood and city breakdowns — with significant changes from one to the next.

Marina del Rey was the time period’s biggest year-over-year winner, increasing by 125.8 percent in the time period (though on just five units sold). It was far from the only neighborhood to show growth above 50 percent, however. Bel-Air, Beverly Hills, Calabasas, Lincoln Heights, Llano, Pasadena, Pearblossom, and West Hollywood (90046 and 90048) were all 50 percent or higher as well. 

The largest year-over-year dip belonged to Los Angeles zip code 90020, which includes parts of Central LA and Koreatown. Despite a decrease of 40.9 percent, the three homes still sold for a median price of $1.15 million.

LA ranked fourth across all counties in Southern California. Orange County led with a median home sale price of $755,000. Ventura County was second with $620,000, following by San Diego at $590,000 and then LA. Santa Barbara County was at $525,000, then the list rounded out with Riverside at $354,000 and San Bernardino at $295,000.

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