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Statewide home sales, prices climb

Posted: July 19, 2012 1:30 a.m.
Updated: July 19, 2012 1:30 a.m.

California home prices in June rose to the highest levels recorded in two years reported a research firm on Wednesday.

Last month’s statewide median price of $274,000 was the highest for any month since May 2010 when median prices were $278,000.

The medium price in June rose statewide to $274,000, up 8.3 percent over June 2011, when the median price was $253,000. June sales marked the fourth consecutive month in which the state’s median sale price roseyear-over-year, reported San Diego-based DataQuick.

And year-over-year home sales have increased every month since July of last year, the research firm reported. June sales rose 5.3 percent over the same period last year. An estimated 41,027 homes sold in the state compared to 38,975 in June 2011.

Distressed property sales statewide — foreclosures and “short sales” — hit the lowest percentage of total sales, 43 percent, since January 2008.

“We are not seeing as many investors,” said Erika Kauzlarich-Bird, president of the SCV division of the Southland Regional Association of Realtors. “We are seeing more owner-occupied (buyers).”

The research firm combines new and resale houses and condos in its figures, painting a portrait of the total housing market in California.

Records for June home sales in Southern California reflected the same trends as statewide figures.
Southern California

Buying a home is not like buying stock in a company, said Kathy Salisbury with Triple D Realty in Stevenson Ranch.

Buyers, who were paralyzed by negative news in the past, have been recognizing the local market has remained in a healthier state than national market. For local buyers, buying a home provides shelter and builds lifelongmemories for people.

That sentiment is reflected in the numbers for Southern California.

Home sales rose 7.5 percent over June 2011 in the six Southland counties of Los Angeles, Ventura, Riverside, San Diego, San Bernardino and Orange counties, the research firm reported.

There is also an increased demand for mid- to high-end homes. A greater portion of sales, however, are occurring in the higher-cost coastal markets. Sales in San Diego, Orange, Los Angeles and Ventura counties accounted for 71 percent of all activity according to DataQuick.

Median Southland prices rose to $300,000, up 5.3 percent from $285,000 in June 2011.

Locally, median prices for the Santa Clarita Valley were $360,000 in May, according the latest figures available from the Southland Regional Association of Realtors.

“We have been on a price increase since the lowest point for real estate in Valencia since October 2011,” said Connor MacIvor with RE/MAX in Valencia.

The median price for a single-family home in October 2011 was $399,586. As of July 13 of this year, the median sales price is up to$431,863, MacIvor said.

“We have made a turn here in our valley,” Salisbury said. “Most everything in Santa Clarita is getting multiple offers, especially standard sales.”    

June numbers for the SCV region are expected any day from the local Realty organization, said a spokesperson.


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