SAN DIEGO (AP) — Southern California home prices jumped to their highest levels in nearly four years last month as sales picked up in expensive areas.
DataQuick said Tuesday that the median price for new and existing houses and condominiums in the six-county region reached $306,000, up more than 8 percent from the same period last year. July was the fourth straight month that the median price rose from last year.
Sales jumped nearly 14 percent from last year to nearly 21,000 homes. It was the seventh straight month that homes sales grew from last year.
The San Diego-based researcher says brisker sales in high-end neighborhoods fueled the increase. Orange County — the region’s most expensive — registered a 26 percent increase in sales. San Diego County saw a 17 percent sales increase.
