Resale price rises again in California

The median price of an existing single-family detached home in California was $405,720 in January, up 0.5% from December’s $403,570 and 20.7% higher than the revised $336,210 median for January 2003, the California Assn. of Realtors said Wednesday.

Statewide, the 10 cities and communities with the greatest median home price increases in January 2004 compared with the same period a year ago were: Malibu, 106.7%; La Quinta, 54.1%; Oxnard, 53.4%; Inglewood, 48.5%; Upland, 47.2%; Colton, 47.1%; Perris, 43.5%; Riverbank, 42.7%; Arcadia, 41.5%; and Rancho Santa Margarita, 40.2%.