Median Prices

Found 2 blog entries about Median Prices.

A Los Angeles Times analysis of single-family home sales ranks Hermosa Beach among the "hottest ZIP codes" in all of the Los Angeles area.

The Times analysis states that the median price for Hermosa jumped 30.9% year-over-year for single-family residences, with 7% more sales than the year before. The median price per square foot (PPSF) was up a similar 28.6%. According to the Times' story:

"Strong demand, tight inventory, good schools and a view of the Pacific made Hermosa Beach a real estate standout in 2015. The small South Bay town also has something else going for it: It's not Manhattan Beach."

"Wealthy families priced out of increasingly ritzy Manhattan Beach — with its median price of $2.1 million — are looking to the next town over."

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It has been 7 years since the median price for a single-family home was as high in Palos Verdes Estates and Rancho Palos Verdes as the level reached in 2014.

At $1,295,000, the median price for those two areas bounced all the way back to highs last seen in 2005 and 2007.

That's a 25% rise in prices over 3 years, dating back to the lowest point back in 2011.

From 2013-2014, the median price rose 8%.

The number of single-family homes sold last year was also the third-highest seen over the past decade.

With 529 single-family transactions on the MLS, it was another healthy year in the long rebound since the local real estate market dipped from 2008-2010. There were 58% more sales in 2014 than in 2008.

As you can see in our chart, the year 2013…

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