PALMDALE – Lancaster and Palmdale home prices continued to climb in August as California home sales hit their second-strongest August figure in more than 25 years. Palmdale’s median price for both new and resale homes hit $330,000, up from $325,000 in July and 26.9 percent ahead of a year earlier, according to statistics released by the California Association of Realtors. Lancaster’s median price hit $297,000, up from $291,750 in July and 25.8 percent ahead of a year earlier. “Since more buyers are relying on adjustable-rate mortgages to finance the purchase of their homes, buyers may be moving more quickly to make the home purchase decision in anticipation of future rate increases,” California Association of Realtors President Jim Hamilton said. “This is adding more pressure to the price of a home.” Closed escrow sales of existing, single-family detached homes in California totaled 632,240 in August at a seasonally adjusted annualized rate, according to information collected by the association. That’s up 7 percent from the 591,150 sales pace recorded in August 2004. Antelope Valley home prices have nearly quadrupled in the past six years, after bottoming out in 1999 at the end of the deep 1990s home-buying slump. In December 1999, the median price was $75,000 in Lancaster and $84,000 in Palmdale. Statewide, the 10 cities and communities with the highest median home prices in California during August 2005 were: Laguna Beach, $1,550,000; Los Altos, $1,515,250; Manhattan Beach, $1,464,500; Burlingame, $1,450,000; Palos Verdes Estates, $1,415,000; Calabasas, $1,351,500; Saratoga, $1,307,500; Newport Beach, $1,296,250; Mill Valley, $1,257,500; Rancho Palos Verdes, $1,201,500. Statewide, the 10 cities and communities with the greatest median home price increases in August 2005 compared with the same period a year ago were: Sanger, 76 percent; West Sacramento, 67 percent; Twentynine Palms, 63 percent; San Bruno, 60 percent; Culver City, 49 percent; San Bernardino, 49 percent; California City, 48 percent; Merced, 47 percent; Visalia, 46 percent; Montebello, 45 percent. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe top 10 theme park moments of 2019 The median price of an existing, single-family detached home in California during August 2005 was $568,890, a 20.1 percent increase over the revised $473,520 median for August 2004, the association. The August 2005 median price increased 5.2 percent compared with July’s $540,900 median price. Other local price gains over the previous 12 months included 48 percent in California City to $185,000, making it seventh on the list of California communities with the fastest price increases. Prices were up 23.8 percent in Rosamond, to $260,000, though that was below the $270,000 record set in July. Prices were up 27.9 in Tehachapi to $280,000. In Santa Clarita, the median price was up 31.5 percent, to $539,000, but down from the $559,000 median recorded in July.