With yesterday’s news that California experienced a 10.4 percent sales slump in October to the lowest sales level since February 2008, we’re now taking a look at the regional numbers. Unfortunately, the news wasn’t any better in SoCal.
According to the California Association of Realtors, Southern California had the biggest annual drop in sales at 40.8 percent, as every county within the region experienced a sales decline of more than 30 percent in October compared to a year earlier.
Month-over-month, Riverside County saw the largest sales decline at 19.2 percent, followed by Orange County and San Diego County. Ventura had the smallest sales decline at just 1.5 percent below September.
Prices were also down across the Southland last month, with L.A. County’s median sale price falling 4.2 percent to $854,280. Orange County stayed well above the $1 million mark despite a 2.9 percent decrease, while San Diego’s median price fell 4.3 percent to $860,000.