California home prices continue to increase. Chart shows the change in median home prices from March 2004 to March 2005. The median home price in Arcadia went up 7.5% in the last year.
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.
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 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.
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.
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.
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.
Residents fed up with the so-called "mansionization" of their neighborhood are proposing limits that would curb the proliferation of large houses on small lots.
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.
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.
Ed Huang, an architect who works as a senior planner for the city of Los Angeles, gives a tour of his "green" home in Arcadia. His house is a model of energy efficiency, using solar panels and other environmentally and ecologically friendly design elements. Huang had been Arcadia's planning commissioner from 1992-2002.
Mrs. Raymond A. Dorn, wife of Pasadena real estate man, who developed much of the property north of Foothill Boulevard in Arcadia, was killed and her husband injured in an automobile accident at Rosemead Boulevard and Callita Street.