Home Sales

10/16/2013 2:32 pm3 commentsViews: 16
Home sales LA

Home sales LA

LOS ANGELES (CNS) – The median price of a home in Los Angeles County
jumped by 25 percent in September, compared with the same month a year ago,
while the number of homes sold rose by 5 percent, a real estate information
service announced today.
According to DataQuick, the median price of a Los Angeles County home
was $425,000 last month, up from $340,000 in September 2012. A total of 6,496
homes were sold in the county, up from 6,188 during the same month last year.
In Orange County, the median price was $550,000 last month, up 22.2
percent from $450,000 in September 2012. The number of homes sold increased by
8.9 percent, from 2,677 in September 2012 to 2,916 last month.
A total of 19,112 new and resale houses and condos changed hands in Los
Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last
month, according to DataQuick. That was down 17.1 percent from 23,057 in August
and up 7 percent from 17,859 in September 2012.
The median price for a Southern California home was $382,000 in
September, down 0.8 percent from $385,000 in August but up 21.3 percent from
$315,000 in September 2012.
“We’ve seen a fairly normal downshifting in the housing market this
fall,” DataQuick President John Walsh said. “Couple that with the rise in
inventory, higher mortgage rates and the ongoing, gradual drop in purchases by
investors and cash buyers and it’s no wonder prices have leveled off in recent
months.”

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