Real Estate
LA Median Housing Price Climbs 10 Percent
Sales are picking up even as inventory remains tight and buyers struggle with affordability.
![](https://patch.com/img/cdn/users/73734/2015/05/raw/201505555b9e54c3486.png)
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 today.
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.
Find out what's happening in Palos Verdeswith free, real-time updates from Patch.
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.
Find out what's happening in Palos Verdeswith free, real-time updates from Patch.
“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.”
OTHER PATCH HEADLINES
- Man Dies, Woman Seriously Injured In Dramatic Jamboree Crash
- Overturned Trash Truck Closes Ortega Highway
- Rep. Loretta Sanchez Apologizes for Offensive Indian Joke at Democratic Party Convention
- Senior Citizen Accused of Sexually Assaulting Trabuco Hills High School Student to Be Arraigned
- Former OC Sheriff Michael Carona Freed from Prison
- Warning: Scammer Sells Fake Disneyland Tickets Heading into 60th Anniversary Celebration
City News Service
Get Patched in! Sign up for free news alerts for your town.
ALISO VIEJO | FOUNTAIN VALLEY | LAGUNA BEACH | LAGUNA NIGUEL-DANA POINT |LAKE FOREST | LOS ALAMITOS-SEAL BEACH | MISSION VIEJO| NEWPORT BEACH-CORONA DEL MAR | RANCHO SANTA MARGARITA | SAN JUAN CAPISTRANO | SAN CLEMENTE
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.