As we previously reported, California’s existing-home sales rebounded in August following five months of declines. According to the California Association of Realtors, home sales totaled 313,540 transactions last month, up 6.1 percent compared to July 2022.
On a regional level, SoCal rebounded with a 7.8 percent sales increase in August, with Ventura and San Diego Counties posting the largest gains. San Diego saw a 16.3 percent sales bump compared to July 2022, while Ventura was up 13.3 percent. San Bernardino and Orange County were close behind with more than 10 percent sales increases each.
Los Angeles County saw nominal gains with just a 1.2 percent increase in existing-home sales.
On an annual basis, SoCal home sales were down 28.8 percent.
L.A. was also the only county to see median sale prices increase last month, posting a 1 percent gain to $854,960. Elsewhere, prices fell between 0.8-4.8 percent, with San Diego’s median sale price retreating to $885,000. Orange County continued it reign as the priciest county in the region at $1,200,000.
To see our report on NorCal’s August numbers, click here.
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