Median home prices in California surged to a record $305,940 in March, up 19 percent from last year. In Arcadia, prices averaged $355,000, up 9.2 percent.
County home prices were up slightly in April after more than 1.5 years of declines, according to the California Association of Realtors. Arcadia's median home price was $689,090 in April, down 8% from a year ago. A chart shows figures from other local cities.
California home sales are growing as values fall. A chart of October's median home prices gives a picture of the local real estate landscape. Arcadia's median home price in October, 2008 was $697,500, down 12.1% from the median price of $793,500 in October, 2007.
Home sales rise sharply in February with a 69.3% increase in sales in Los Angeles County over the same period a year ago. People are buying up foreclosed homes as prices drop in the San Gabriel Valley. Arcadia home prices came down 6.6%, whereas Azusa's home prices fell 45.3%. The median price of a single family home in the county was $298,000 in February, compared with $465,000 last year. Arcadia's median home price was the highest in the San Gabriel Valley, at $635,000. A chart of February median home prices is shown.
Arcadia's median home price dropped to $719,000, down 3.2% in June 2009 from June 2008. A chart shows June median home prices in San Gabriel Valley areas.
San Gabriel Valley home values went up in May, the third month in a row in which median home prices rose across the state. Arcadia had the highest median price at $700,000. A chart compares SGV cities.
Los Angeles County's median home price is rising. In July, 2009, it was $339,430, up from $319,860 in June 2009, but well below $395,240 a year ago. Broker Chris Vigil thinks the market has hit rock bottom. Arcadia's median home price in July 2009 was $663,000, up from $626,500 a year ago (July, 2008). A chart shows figures from surrounding cities.
As median home prices dip throughout Southern California, many local homes are being foreclosed. In 2007, there were 215 foreclosure filings in Arcadia. See chart for figures on surrounding areas.
Home prices in California have dropped almost 42% from a year ago, November, as a glut of foreclosed homes drove first-home buyers to buy on the bottom end. Statewide, a single-family home cost a median price of $285,680. In Los Angeles County, the San Gabriel Valley housing market is in bad shape. According to the California Association of Realtors, prices around the San Gabriel Valley ranged from lows of $256,000 in La Puente to highs of $692,500 in Arcadia, which saw a slight drop of only 4.8%, compared to last year.
The body and car of Arcadia resident Pei-hua Tsai were recovered after his car plunged into the San Gabriel Reservoir last Saturday, March 12, 2005. He was 24 years old. A photo shows the wreckage and divers.
Residential customers of Southern California Edison (SCE) may see increases of an average of 30% or more next year because of soaring fuel prices and costs to upgrade infrastructure.
Burglaries are on the rise in Arcadia. Police cite the economic downturn as a possible reason. Composite sketches of two men, who allegedly assaulted and robbed a man on March 7, 2009 in the 1100 block of Arcadia Avenue, are included. Police are seeking the public's help.
Senator Bob Margett told Arcadia City Council that California is facing a $15 billion deficit in the 2003-2004 fiscal year and cities could be targeted for revenue transfers.
William Norgaard of Temple City celebrates his 106th birthday. He came from Denmark and owned the Daily Home Bakery at 1820 Marengo Street in Los Angeles for 38 years, starting in 1959. The Norgaard family lived in Los Angeles, Alhambra, Pasadena, and Arcadia over the years.
Fewer than half of the high school students statewide scheduled to graduate in 2004 have passed both the English language arts and mathematics portions of the California High School Exit Exam. Arcadia High School sophomores who took the test last year had the strongest showing in the local area with 89% of the 738 students tested passing math and 88% passing English.
A chart shows school enrollment numbers from 1998 to 2004. More than 40 percent of the public school districts in California are experiencing declining enrollment. Experts say it is due to a decline in the birth rate and families' migration patterns.