Data Quick reported hat home sales in Southern California continued at their slowest pace in more than two decades last month as many potential buyers and sellers held off if they could, or struggled with mortgage financing if they couldn't, a real estate information service reported.
A total of 17,424 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 3.0 percent from 16,917 the previous month and down 13.6 percent from 20,166 for June a year ago, according to DataQuick Information Systems.
While last month's sales were the highest in ten months, it was still the slowest June in DataQuick's statistics, which go back to 1988. The June average is 28,488 sales, the peak was reached in 2005 when 40,156 homes sold.
The median price paid for a Southland home was $355,000 last month, down 4.1 percent from $370,000 in May and down 29.3 percent from $502,000 for June 2007. The peak of $505,000 was reached in March, April, May and July of last year. Yes, that is 4.1% in a month.
For the complete article go to Data Quick.
|
Sales Volume |
Median Price |
|||||
|
All homes |
Jun-07 |
Jun-08 |
%Chng |
Jun-07 |
Jun-08 |
%Chng |
|
Los Angeles |
7,580 |
5,678 |
-25.1% |
$545,000 |
$415,000 |
-23.90% |
|
Orange |
2,641 |
1,930 |
-26.9% |
$645,000 |
$495,000 |
-23.30% |
|
Riverside |
3,359 |
3,757 |
11.8% |
$400,000 |
$275,000 |
-31.30% |
|
San Bernardino |
2,190 |
2,215 |
1.1% |
$365,000 |
$240,000 |
-34.20% |
|
San Diego |
3,510 |
3,077 |
-12.3% |
$495,500 |
$370,000 |
-25.30% |
|
Ventura |
886 |
767 |
-13.4% |
$582,000 |
$420,000 |
-27.80% |
|
SoCal |
20,166 |
17,424 |
-13.6% |
$502,000 |
$355,000 |
-29.30% |
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
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