Thanks to a spate of high-priced home building in the western San Fernando Valley, new homes Valley-wide sold for a median price of $286,999 in the fourth quarter of 1986, according to a survey by Roulac & Co., a real estate firm.
For the fourth quarter of 1985 the median price was $165,666. But Diane Wilson, Roulac's Southern California sales manager, said a high proportion of the 230 homes sold in the 1985 fourth quarter were in Northeast Valley neighborhoods such as Pacoima and Lake View Terrace, where prices are generally lower.
By contrast, she said, many of the 143 units sold in the 1986 fourth quarter were in Woodland Hills, Calabasas, or Northridge, where the same house can cost much more.
For condominiums, the fourth quarter 1986 median price was $104,782, and 422 units were sold. In the 1985 fourth quarter, the median for new condos was $93,966 on 336 units sold.