Hottest and Nottest: March Median Price Trends in LA County

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The headlines from today’s March sales report from the California Association of Realtors were grim and grimmer: sales of existing homes down 20.8% in March, the supply of homes sitting on the market has nearly doubled in a year and would take, at this rate of sales, 8.7 months to sell.

In the fine print, though, mixed numbers from LA County, showing strong price gains in some parts of the county from March 06 to March 07.

Big Gainers:
Area Median Price % Change from March 06
Tarzana $540,000 25.3%
Culver City $595,000 22.2%
Los Angeles $590,000 17.9%
Palos Verdes $1.25 million 16.3%
Hawthorne $578,000 15.6%

Big Losers
Brentwood $920,000 -39.0%
West Hills $569,000 -16.3%
San Dimas $523,000 -14.7%
Stevenson Ranch $653,000 -14.6%
Valencia $511,000 -11.9%

Source: DataQuick for CAR

To see the entire DataQuick/CAR local analysis, click here.

Important guidance, from CAR: ‘Note: Large changes in local median home prices typically indicate both local home price appreciation, and often, large shifts in the composition of housing market activity. Some of the variations in median home prices may be exaggerated due to compositional changes in housing demand.’