Median Home Prices Near Lake Elsinore, Wildomar On The Rise

RIVERSIDE COUNTY, CA — The median price of a home in Riverside County rose by 6.9 percent in October, compared with the same month a year earlier, while the number of homes sold increased by 5.3 percent, a real estate information service announced Wednesday.

According to CoreLogic, the median price of a Riverside County home was $358,000 last month, up from $335,000 in October 2016. A total of 3,446 homes were sold in the county, up from 3,274 during the same month the previous year.

A total of 20,735 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 down 1.6 percent from 21,075 in September and up 3.6 percent from 20,012 in October 2016.

The median price of a Southern California home was $495,000 in October, down 2 percent from $505,000 in September and up 6.5 percent from $465,000 in October 2016.

"Amid a still-tight inventory, Southern California home sales edged up to a five-year October high as the number of homes selling for $500,000 or more rose 14.4 percent year over year, offsetting a nearly 5 percent decline in sub- $500,000 deals," said Andrew LePage, research analyst with CoreLogic.

— By City News Service / Image via Shutterstock