On November 22, 2016, PropertyRadar reported home sales fell 6.3% in October of 2016 from in September of 2016, and declined 3.1% of from October of 2015 in Southern California. While, the distressed sales dropped 9.9% in October of 2016 from in September of 2016, and down 22.7% of from October of 2015. The median home price increased 1.3% to $485,000 in October of 2016 from September of 2016, and jumped 9.2% from October of 2015 in Southern California.
PropertyRadar's Director of Economic Research Madeline Schnapp, stated “Comparing sales this October to October 2015, sales were up in the more affluent counties and lower in the less affluent areas. That tells us that there is more price sensitivity in the lower income lower priced housing areas.”
For complete more detailed information about PropertyRadar’s October of 2016 Southern California home sales report, please CLICK HERE