The median price of a home in Los Angeles County rose by 7.2 percent in September, compared with the same month a year ago, while the number of homes sold jumped by 3.4 percent, a real estate information service announced Monday.
According to CoreLogic DataQuick, the median price of a Los Angeles County home was $455,500 last month, up from $425,000 in September 2013. A total of 6,717 homes were sold in the county, up from 6,496 during the same month the previous year.
In Orange County, the median price was $585,000 last month, up 6.4 percent from $550,00 in September 2013. The number of homes sold rose by 2.2 percent, from 2,916 in September 2013 to 2,980 last month.
A total of 19,348 new and resale houses and condos changed hands in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month, according to CoreLogic DataQuick. That was up 2.9 percent from 18,796 in August and up 1.2 percent from 19,112 in September 2013.
The median price for a Southern California home was $413,000 in September, down 1.7 percent from $420,000 in August and up 8.1 percent from $382,000 in September 2013.
“Price appreciation has dipped into single-digit territory as more would-be buyers get priced out, investors back off and incomes rise modestly at best,” said Andrew LePage, CoreLogic DataQuick analyst. “Yet there are still upward forces on home prices. Jobs are being created and families started at a time when the supply of existing homes for sale, as well as the number of new homes being built, remains relatively low.”
