L.A. County Home Prices Jump 21.4 Percent in February

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The median price of a single-family home in L.A. County rose 21.4 percent in February year-over-year, but fell slightly from January, according to a report released Wednesday.


An existing L.A. County home cost $473,550 in February, according to the report released by the California Association of Realtors. That’s down 0.5 percent from January’s figures.


Sales activity rose 6.1 percent from the year-ago period, but fell 12.2 percent from January.


“February typically accounts for the smallest monthly share of annual sales in any given year, so we expected to see a slight dip compared to January,” said C.A.R. President Jim Hamilton in the release Wednesday.


Statewide, the median price for single-family detached homes increased 20.4 percent from the year-ago period to $471,620. The figure represents a 2.9 percent drop in the statewide median price from January. The median price of condominiums in California surged 21.5 percent to $384,710, compared to one year earlier. The figure is a 2.2 percent gain over January.


The number of sales in the state rose 3.2 percent over a year ago and decreased 7.8 percent from January.

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