The median price of a home in Los Angeles County increased by 27.4 percent and the number of homes sold in the county rose by 9.7 percent in April, compared to the same month a year ago, a real estate information service reported today.
According to DataQuick, 7,140 homes were sold in Los Angeles County last month, compared to 6,510 in April 2012, while the median price was $395,000, up from $310,000 during the same time period last year.
In Orange County, 3,327 homes were sold, up 13.9 percent from 2,920 in April 2012. The median home price was $535,000 last month, an increase of 27.4 percent from $420,000 during the same month a year ago.
A total of 21,415 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 a 4.1 percent jump from 20,581 in March and up 9.5 percent from 19,562 in April 2012.
The median price for a Southern California home was $357,000 in April, up 3.3 percent from $345,500 in March and up 23.1 percent from $290,000 in April 2012. According to DataQuick, last month’s median price was the highest since June 2008, when the median was $360,000.
“This is a market that is still re-balancing,” DataQuick President John Walsh said. “Sales of deeply discounted properties in affordable neighborhoods are way down. Activity in middle- and high-end communities is on its way up. Now it’s catch-up time, with a healthier economy spurring more demand and rising prices tempting more people to put their homes up for sale.”
