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.
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.
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.
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.
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.
In this ailing economy, San Gabriel Valley property values have dropped significantly, as reflected in the county's home assessments. The county property roll is at $1.1 trillion, a nearly 1% decrease compared to 2008. Homeowners will have smaller tax bills but cities are having to reduce services and employees as they lose businesses, sales tax revenue, and property tax revenue. See a chart of Los Angeles County Assessor's Office property values report showing Arcadia and neighboring cities. Arcadia is a city whose 2009 value increased 2.2% compared to last year.
The jobless rate in Los Angeles County jumped to 8.4% in October. Countywide, unemployment was up 33,000 in October to 415,000 people. Among San Gabriel Valley cities, Baldwin Park, El Monte and Montebello have the highest numbers of unemployed. A chart shows unemployment in other cities. Arcadia has 1,300, or 4.6% unemployed.
25 year old Pomona man, Josh Connole, was arrested in connection with the vandalism and arson attacks on high priced SUVs and Hummers at several San Gabriel Valley dealerships.
Getting a permit to install solar panels on homes in the San Gabriel Valley is costly. A Sierra Club report shows that San Gabriel Valley cities charge more than other Southland communities. The average permit cost to install a typical 20-panel system in Southern California is about $493. Arcadia's fee is $283. A chart shows the fees of surrounding cities.
A special report on the Asian population of the San Gabriel Valley. Arcadia is a city with an Asian population near or above 50 percent. A chart shows Asian presence in the San Gabriel Valley and the percentage who speak English "not well" or "not at all."
A chart shows the API scores for West San Gabriel Valley schools for 2004 on page A4. 85 percent of schools in the West San Gabriel Valley maintained or increased their Academic Performance Index ranking compared to schools across the state.
The unemployment rate in every city in the San Gabriel Valley either went down or stayed flat last month, for the first time in several months, according to state numbers. Still, economists say many people are out of work now compared to this time last year. A chart shows Arcadia has 2000, or 7.3% unemployment. A chart shows numbers for nearby cities.
This article is a continuation of a special report about the Asian communities in transition in the San Gabriel Valley. Observers think Asians are blending Asian and American influences into forging a distinct Asian-American identity. A chart shows Asian population becoming majority in many San Gabriel Valley cities.