Industry News

SoCal real estate prices reach new heights

San Bernardino-area home values rise more than 30% annually

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Both sales counts and prices reached new highs in Southern California real estate markets last month, according to DataQuick Information Systems, a real estate information company. While the appreciation rate continued to ease, a new price peak was reached in each of the Southland counties, the company reported. And led by a surge of buying activity in the Inland Empire, sales topped a monthly record set in 1988. A total of 35,454 new and resale homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in June. That was up 14.8 percent from 30,886 in May, and up 2.1 percent from 34,731 for June last year, according to DataQuick Information Systems. June's sales count edged past the 35,339 reached in August 1988, which, until last month, had been the highest in DataQuick's statistics, which go back to 1988. "Seventeen years ago, about one of six homes sold in Southern California was in the Inland Empire. Now it's about one in three. While the re...