Following yesterday’s news of a 4.1 percent sales decline for existing-homes in California last month, we’re taking a closer look at regional performance via the California Association of Realtors. And while SoCal sales were down 20 percent compared to June 2022, on a monthly basis sales were only down 0.8 percent compared to May 2023.
Orange and San Bernardino Counties offered two bright spots in an otherwise slow month for California, with sales up 5.5 and 6.4 percent, respectively. Los Angeles County barely missed a gain, with sales down 0.7 percent compared to May 2023.
On the pricing front, the median sale price was up in all SoCal counties with the exception of Riverside, where prices dipped slightly $628,000 following a median of $629,000 the month prior. The O.C. continued to lead the region with a median sale price of $1,260,000, up 0.3 percent.
In L.A. County, the median sale price rose 11.8 percent to $832,310, compared to $744,770 the month prior. Looking back to June 2023, however, the median price was down 19.1 percent.
For more on NorCal’s monthly outlook, click here.