L.A. County Home Prices Jump 14.7 Percent in April

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The median home price in Los Angeles County reached $485,900 in April, a 4.2 percent increase from March and a 14.7 percent rise from the year earlier, according to a report issued Tuesday by the California Association of Realtors.


The price increases came as the sales pace slackened. Single-family home sales in April fell 6.5 percent from March, but increased 6.2 percent from the comparable period of 2004.


Statewide, the CAR reported prices in April were 12.5 percent higher than the year-ago period and 2.6 percent higher than in March, with the median hitting $509,230. Sales were up 2.7 percent over April 2004 and 3.7 percent over March.


“Although interest rates remain near their historical lows, consumers are clearly concerned about the impact rising rates will have on their ability to purchase a home,” said Leslie Appleton-Young, chief economist at CAR.


Another report generated by CAR and DataQuick Information Systems named four L.A. County communities among the 11 most expensive in the state.


Manhattan Beach (median home price $1,405,000), La Canada-Flintridge ($1,290,000), Calabasas ($1,225,000) and Rancho Palos Verdes ($1,100,000) joined Los Altos, Saratoga, Laguna Beach, Newport Beach, Carmel, Burlingame and Woodside as the priciest communities.

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