Southern California home sales for October were the highest they’ve been in five years, and prices have also continued to rise.
A total of 20,735 homes were sold throughout Southern California in October at a median price of $495,000, according to a report released by CoreLogic, an Irvine-based firm that tracks the housing industry. Both sales numbers and median prices increased from October 2016, when 20,012 homes were sold at a median price of $465,000.
Although median home prices have continued to rise in Ventura County since last October, sales fell slightly from the same time last year. There were 902 home sales in Ventura County last month at a median price of $547,000, while 913 homes were sold at a median price of $535,000 in October 2016.
While all Southern California counties saw price increases from 2016, Ventura County wasn’t the only area to see a slight decrease in sales numbers. Nonetheless, CoreLogic analysts typically caution against putting too much weight on individual reports, and overall home sales in Southern California have nonetheless improved from 2016. Although all counties in the region saw price increases, Orange County and San Diego County also saw slight decreases in home sales from September.