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SoCal house prices shoot up in October

The median price of an existing, detached single-family home rose significantly in Southern California in October compared with the same month a year ago, the California Association of REALTORS® reports.

San Bernardino had the greatest increase: 12 percent.

Los Angeles County’s median climbed 8.1 percent Riverside County went up by 7.5 percent, and Orange had the smallest hike of the four counties: 4.8 percent.

The median price — the midpoint of sales – was $786,000 in Orange; $580,360 in Los Angeles; $382,500 in Riverside and $274,450 in San Bernardino.

Statewide, the median price was $546,430, up 6.1 percent from $515,170 in October 2016. Sales were down 3.4 percent from a year ago.

A low supply of homes on the market continued to put a crimp on sales, especially in the relatively affordable price ranges.

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About Community Real Estate

Community Real Estate is a Real Estate Company committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!
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