Southern California real estate prices hit record

The Southern California real estate market rounded out the summer buying season with record prices and a near-record sales pace, a real estate information service reported.

The median price paid for a Southern California home was $476,000 last month, the seventh record of the last seven months, according to DataQuick Information Systems. That was up 1.5 percent from $469,000 in July, and up 17 percent from $407,000 for August 2004.

The median for resale houses was $501,000, passing the $500,000 mark for the first time.

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