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More Palmdale prices sinking

October 26, 2008|Peter Viles

Median sale prices in the most distressed neighborhoods of Los Angeles County have fallen below $100,000, according to MDA DataQuick's report on September home sales.

In the 93591 ZIP Code in Palmdale, the median sale price for a single-family home fell to $91,000 in September, with price per square foot hitting $69. Here's a typical listing in that area: 17800 Highacres Ave., a three-bedroom, one-bath home that sold in 2006 for $260,000 and is now in foreclosure and listed for $74,900. That's a potential decline of 71%.

I count 20 listings on Redfin.com in that ZIP that are now priced below $100,000, and 66 sub-$100K listings in all of Palmdale.

The lowest prices by neighborhood in the city of Los Angeles are in Watts, where the median price for a single-family home has fallen to $162,000.

-- Peter Viles

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