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| Demand for homes across the state is nowhere stronger
than in Southern California. Given the region's limited
supply of housing, the amount of money being exchanged
for area homes rises every month. The median prices of
existing homes has gone up anywhere from 17% to 36.7% in
the Valley since June 2004, according to reports from
Data Quick News. |
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| Valley resale home prices have been hovering around
the $300,000 mark, with the exception of Acton, where 15
homes sold in June 2005 with a median price tag of
$569,000, up 3.5% from the year before. Most of the rest
of the Valley has more affordable deals. In Lancaster,
median prices ranged between $254,00 and $320,000; in
Palmdale, shoppers found homes with median prices from
$226,000 to $386,000 in June 2005. |
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| While the price of homes has been rising with the
heat, so has the price of property on which homes can be
built. The price of residential-zoned property on the
east side of Palmdale starts around $75,000 an acre. Even
when the price goes as high as $125,000, it is still a
hot item, said Dianne MacLean, owner/broker of All Star
Realty. The price of land has been rising in
unincorporated areas as fast or faster than the price of
homes in tracts across the Antelope Valley. "The item most in demand is
bare land," MacLean said. |
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