The median home price countywide in February was $396,250, compared to $397,250 in January, according to CAR.
On a year-over-year level, the price was about 8 percent higher; in February 2017, the median price of an existing single-family dwelling was $367,250, according to CAR data.
Statewide, the median price last month was $522,440, compared to $527,780 in January — down 1 percent. In February 2018, the median price was $480,270, reflecting a year-over-year gain of 8.8 percent.
The median represents the point at which half of homes sell above a price, and the other half below it.
Last month, home sales countywide increased roughly 2 percent, and they were up 8 percent year-to-year, according to CAR.
The association’s Unsold Inventory Index for February indicated that the median time a property was on the market before it sold in California was 26 days. In Riverside County, it was 35 days.
The average price per square foot for an existing single-family home in California last month was $265 — $8 more than in January and $21 more than a year ago.
–City News Service
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