Tuesday, August 14, 2012
Southern California's real estate market continues to improve.
Southern California's housing market got another positive report card in July. Home prices ticked up and more homes were sold.
Dataquick tracks home sales in the region and the company found the number of homes changing hands last month rose for the seventh straight month.
Home sales are increasingly happening in more expensive neighborhoods meaning the move up market is showing activity.
"That's one of the reasons you see that median sale price up," said andrew LaPage of Dataquick. "In addition you have fewer foreclosed properties selling today than you did a year ago and those foreclosed properties tend to sell at a bigger discount."
Those sales patterns have pushed the region's median home price up to $306,000. In San Diego the median price is $342,000.
Dataquick found prices are rising, distressed sales are falling and more homes are changing hands, however the company said there is not enough positive activity to say the housing market is healthy.