L.A. Home Sales, Prices Rise: Home sales...

L.A. Home Sales, Prices Rise: Home sales in Los Angeles rose 15% in May, and the price of the average home increased by more than $57,000 to $579,451, up from $522,298 in April, the Los Angeles Board of Realtors said. The median price of $459,000 was unchanged. The number of single-family homes and condominiums sold was 349, compared to 302 in April. Pacific Palisades was the leading area for sales, with 33 homes selling for an average of $1.1 million. The median price for a condominium was $249,000, off from last month’s $254,000.