Due largely to continued price increases of selected dwellings in certain areas of Los Angeles County, home prices rose 7.3% from April and 13.7% from October, 1986, according to a survey by the Real Estate Research Council of Southern California.
The study is based on the appraised values of 214 sample homes and is intended to show trends in home prices, not levels, according to Michael Carney, executive director of the council.
Appraised prices of the sample homes in Los Angeles County as a whole rose in October an average of 9.4% from last April and 17.2% from October, 1986, according to Carney, who is also a member of the faculty of the School of Business Administration at Cal Poly Pomona.
He said that the biggest annual increases were in North-Central Pasadena, 22.1%; Long Beach-Harbor, 22.9%; Westside-Santa Monica, 25.3%, and Southwest, 20.5%. Smaller annual increases were recorded in East San Gabriel-Pomona, about 10%, and the San Fernando Valley, about 13%, Carney said.