SoCal Home Prices Jump Again
How far can Southern California home prices climb? We’re still waiting to find out.
The market hit another peak in June, with the median price jumping from $667,000 to $680,000, a 22.5% increase from June 2020.
The Southern California housing market has now seen 11 straight months of increases. Low interest rates and pent up demand from the pandemic have helped keep prices high.
Sales are also up. There were 27,012 homes sold in June, compared to 24,064 the previous month. In June of last year, there were 17,743 such transactions.
The Los Angeles Times has provided a county-by-county market snapshot:
- In Los Angeles County, the median home price rose 23.1% to $790,000 in June, while sales climbed 68.9% year over year.
- In Orange County, the median home price rose 17.6% to $900,000, while sales climbed 67.2%.
- In Riverside County, the median home price rose 20% to $510,000, while sales climbed 43.8%.
- In San Bernardino County, the median home price rose 21.3% to $442,750, while sales climbed 41.7%.
- In San Diego County, the median home price rose 24.9% to $750,000, while sales climbed 34.5%.
- In Ventura County, the median home price rose 22.7% to $736,000, while sales climbed 47.6%.
Read more here.