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Wednesday, October 25, 2006

 

LA Home Sales Plunge 31 Percent, Median Up 2

The California Association of Realtors reported today that home sales decreased 31.7 percent statewide last month when compared to September 2005. The Los Angeles region was right in line with the state trend, experiencing a 31.2 percent drop. Orange County was down 32 percent, and Ventura County sunk nearly 39 percent.

Despite all this, the median home price still increased 1.8 percent statewide.

In LA, the median went from $560,990 in Sept. 2005 to $585,730 last month (down from the August '06 median price of $589,740).

Ventura County, which saw the most significant drop off in sales in Southern California, actually bumped up its median price, from $682,360 in Sept. '05 to $686,730 last month.

The median price in the OC dropped to $706,490 from $708,840 last year.

— TJ Sullivan in LA
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