Despite an overall slowing, sales trends differed sharply in local Southern California markets last month as Orange County experienced its weakest August in eight years and the Inland Empire experienced its strongest August ever, according to real estate information service DataQuick.

A total of 31,131 homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in August, down 5.6 percent from July’s 32,988 and down 9.6 percent from a near-record 34,437 for August last year, DataQuick reported.

Home sales in Orange County dropped 32 percent in August from the same month last year, registering 3,745 sales compared to 5,511 a year ago. The median price of a home climbed approximately 25 percent during the same period from $435,000 to $543,000.

Sales in the Inland Empire, which includes Riverside and San Bernardino counties, totaled 9,898 during August, up an average 5.4 percent from the same month last year. Median home prices in Riverside and San Bernardino climbed nearly 30 percent during the last 12 months, reaching $334,000 and $261,000, respectively, last month.

“Within this medley of statistical trends, a couple of things are still clear. Many buyers in move-up and prestige areas are getting skittish, while buyers in more affordable areas are still quite active. And while prices overall are still going up, they’re not going up as fast as they were earlier this year,” said Marshall Prentice, DataQuick president.

The median price paid for a Southern California home was $407,000 last month, another record. That was up 1.2 percent from $402,000 in July, and up 20.4 percent from $338,000 for August 2003. The year-over-year price increase was the lowest so far this year.

DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription