The median price of a home in Los Angeles County rose by 10 percent in April, compared with the same month a year ago, while the number of homes sold jumped by 6 percent, a real estate information service announced Tuesday.

According to CoreLogic, the median price of a Los Angeles County home was $485,000 last month, up from $441,000 in April 2014. A total of 7,038 homes were sold in the county, up from 6,642 during the same month the previous year.

In Orange County, the median price was $600,000 last month, up 4.2 percent from $576,000 in April 2014. The number of homes sold rose by 12.4 percent, from 3,111 in April 2014 to 3,497 last month.

A total of 21,708 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 9.9 percent from 19,706 in March and up 8.5 percent from 20,008 in April 2014.

The median price for a Southern California home was $429,000 in April, up 0.9 percent from $425,000 in March and up 6.2 percent from $404,000 in April 2014.

“Sales activity picked up last month, making it one of the stronger Aprils since the housing bust, though sales remained below average,” said Andrew LePage, a data analyst for CoreLogic. “Many buyers still face credit and affordability hurdles, and the inventory of homes for sale remains relatively tight in many markets. New home construction is still well below historically normal levels, too.”

— City News Service

Leave a comment

Your email address will not be published.