LOW INVENTORY DRIVES DOUBLE DIGIT PRICE INCREASES IN SOUTHERN CALIFORNIA
Southern California homeowners appear to be staying put this summer, as the number of Southern California homes for sale continues to dwindle. The shrinking inventory coupled with rising interest rates is causing anxiety among home buyers and has pushed home prices higher each month. The result is a 58 month high in the median home price in Southern California, with each of the 6 counties posting price and sales increases.
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APRIL 2013 VERSUS APRIL 2012 REAL ESTATE MARKET ACTIVITY
· Los Angeles County’s Real Estate Sales Increased 9.7%
· Los Angeles County’s Median Sales Price Increased 27.4%
April 2012 # of Sales |
April 2013 # of Sales |
6,510 |
7,140 |
April 2012 Median Sales Price |
April 2013 Median Sales Price |
$310,000 |
$395,000 |
· Orange County’s Real Estate Sales Increased 13.9%
· Orange County’s Median Sales Price Increased 27.4%
April 2012 # of Sales |
April 2013 # of Sales |
2,920 |
3,327 |
April 2012 Median Sales Price |
April 2013 Median Sales Price |
$420,000 |
$535,000 |
· Riverside County’s Real Estate Sales Increased 8.1%
· Riverside County’s Median Sales Price Increased 24%
April 2012 # of Sales |
April 2013 # of Sales |
3,477 |
3,760 |
April 2012 Median Sales Price |
April 2013 Median Sales Price |
$200,000 |
$248,000 |
· San Bernardino County's Real Estate Sales Increased 9.6%
· San Bernardino County's Median Sales Price Increased 24.8%
April 2012 # of Sales |
April 2013 # of Sales |
2,292 |
2,512 |
April 2012 Median Sales Price |
April 2013 Median Sales Price |
$156,250 |
$195,000 |
· San Diego County’s Real Estate Sales Increased 6.5%
· San Diego County’s Median Sales Price Increased 21.4%
April 2012 # of Sales |
April 2013 # of Sales |
3,559 |
3,792 |
April 2012 Median Sales Price |
April 2013 Median Sales Price |
$329,500 |
$400,000 |
· Ventura County’s Real Estate Sales Increased 10%
· Ventura County’s Median Sales Price Increased 16.7%
April 2012 # of Sales |
April 2013 # of Sales |
804 |
884 |
April 2012 Median Sales Price |
April 2013 Median Sales Price |
$360,000 |
$420,000 |
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