Community Corner
Sierra Madre Home Prices Drop
Sierra Madre home prices dipped 17.3-percent in May compared to what they were at the same time in 2011. Meanwhile, neighboring towns have seen their real estate prices increase.
The median price of single-family homes sold in Sierra Madre in May was $662,000, which is 17.3-percent less than it was in May 2011.
As for Sierra Madre condos, the median price was $370,000... 8.9-percent less than it was in May 2011.
The data is from real estate-tracking firm Data-Quick, which reported that the median price of a home in Los Angeles County in May was $315,000, down from $320,000 in May 2011. Countywide, the number of home sales in L.A. County jumped by 25.3 percent in May compared to the same month a year ago.
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Data-Quick also reports that 15 homes changed hands in Sierra Madre in May.
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Neighboring Towns See Real Estate Prices Increase
While Sierra Madre's real estate falls somewhere in the middle of its neighbors, home prices have increased in surrounding towns.
In Altadena, the median single-family home price last month was $491,000. That's 13.4% higher than the same time last year.
In Arcadia, the median single-family home price last month was $848,000. That's 6.3% higher than the same time last year.
In Monrovia, the median single-family home price last month was $397,000. That's 7.3% higher than the same time last year.
--City News Service contribured to this report.