Written by City News Service, posted by Roy Rivenburg
The median price of a home in Orange County rose to $535,000 last month, an increase of 27.4 percent from the same month a year ago, according to a real estate information service.
According to DataQuick, 3,327 OC homes were sold last month, up 13.9 percent from 2,920 in April 2012.
The median price of a home in Los Angeles County increased by 27.4 percent to $395,000 -- and the number of homes sold rose 9.7 percent.
A total of 21,415 new and resale houses and condos changed hands in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month, according to DataQuick. That was a 4.1 percent jump from 20,581 in March and up 9.5 percent from 19,562 in April 2012.
The median price for a Southern California home was $357,000 in April, up 3.3 percent from $345,500 in March and up 23.1 percent from $290,000 in April 2012. According to DataQuick, last month's median price was the highest since June 2008, when the median was $360,000.
"This is a market that is still re-balancing," DataQuick President John Walsh said. "Sales of deeply discounted properties in affordable neighborhoods are way down. Activity in middle- and high-end communities is on its way up. Now it's catch-up time, with a healthier economy spurring more demand and rising prices tempting more people to put their homes up for sale."
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