I asked a previous question about median prices and incorrectly referenced Lake Forest, CA versus Lake Forest, IL. I meant to ask if it was just my misinterpretation or are LF median prices really up over 23% year-on-year and if so, how should I try to understand that in the present real-estate market? The increase seems to be supported by reported prices/sq ft but I'm no expert so if someone out there has answers I'd be grateful.
The "mediam" price:
2006 was $972,500
2007 was $1,201,000
Year to date in 2008 is $1,050,000
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