The median price of a home in San Diego County rose by 8.2 percent in May, compared with the same month a year earlier, while the number of homes sold jumped by 2.6 percent, a real estate information service announced Wednesday.
According to CoreLogic, the median price of a San Diego County home was $530,000 last month, up from $490,000 in May 2016. A total of 4,138 homes were sold in the county, up from 4,033 during the same month the previous year.
A total of 23,478 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. That was up 15.8 percent from 20,278 in April and up 5.2 percent from 22,327 in May 2016.
The median price of a Southern California home was $492,000 in May, up 1.4 percent from $485,000 in April and up 7.1 percent from $459,500 in May 2016.
“Healthy demand continues to meet a relatively low inventory of homes for sale, helping to nudge prices higher,” said Andrew LePage, research analyst with CoreLogic. “Last month’s Southern California median sale price rose to within three percentage points of its all-time high, but in inflation- adjusted terms, it remains 15 percent below the peak reached a decade ago — a peak made possible by a lot of very risky home loans.”
—City News Service
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