AgentIndustry News

Southern California home sales log tepid gain

Median sales price sees record drop

The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017

Southern California's seasonal boost in home sales between February and March was less than half its normal level and a record low, and median prices of sales took a dive, according to a report today from data provider DataQuick Information Systems. A total of 12,808 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in March. That was up 18.8 percent from 10,777 the previous month but down 41.4 percent from 21,856 in March 2007, DataQuick reported. Over the past 20 years Southland sales have risen by an average of 38 percent between February and March. Last month's 18.1 percent increase from February was the lowest in DataQuick's statistics, which go back to 1988, the company said. March was the seventh consecutive month in which sales have fallen to the lowest level on record for that particular month. Foreclosure resales -- houses sold after being foreclosed on -- continue to dominate many inl...