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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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