What's October been like?
By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
A quick look at real estate. Palmdale Prices - $370,000, peak in 2006 - $137,000, cycle low in Feb 2012 - $168,000, July 2013 - $172,500, August 2013 (+23.1% yr over yr) Lancaster Prices - $342,000, peak in 2006 - $124,000, cycle low Feb 2012 - $153,500, July 2013 - $157,800, August 2013 (+24.4% yr over yr) As you can see, Antelope Valley homes are not even at ½ of their median price peak from 2006. This tells me that this market still has plenty of room for an upside move, and with it, land prices as well. Existing Home Market as Reported by Local MLS - in August, 456 existing homes were sold vs July’s 442, a gain of +3.1% - Versus August of 2012, sales down though about -14% - Year to date, through August 31, sales are down -12% vs the same period in 2012 - the average price o...