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Riverside County home sales drop, but prices rise as part of regional rebound


Friday, March 19th, 2010
Issue 11, Volume 14.


Home sales in Riverside County dipped by 6.5 percent in February, compared to the same month a year ago, while prices rose by 3.7 percent, a real estate information service reported Tuesday.

A total of 3,199 homes sold in February, down from 3,420 for February 2009, while the median price of a home in Riverside County last month was $197,000, up from $190,000 in the same month a year ago, according to La Jolla-based MDA DataQuick.

According to DataQuick, 15,359 homes were sold in the six-county Southern California region – Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties – in February, virtually unchanged from 15,361 in January and up 0.8 percent from 15,231 in February 2009.

"It’s possible the stars won’t line up this way again for many years," said John Walsh, MDA DataQuick president. "With prices and mortgage interest rates this low, the cost of ownership is about as low as we’ve seen it in decades."

The median price of a Southern California home was $275,000 in February, up 1.3 percent from $271,500 in January and up 10 percent from $250,000 Advertisement
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in February 2009.

Home sales in San Diego County were down slightly in February, compared with the same month in 2009, but home prices increased 13 percent during the same period.

The tracking company reported that 2,465 homes were sold in San Diego County last month, compared to 2,473 in February 2009. The median price of a home in San Diego County last month was $322,000, up from $305,000 in January and $285,000 in February of last year.

Home sales in Los Angeles County rose by 9.7 percent in February, compared to the same month a year ago, while prices increased by 5.4 percent. A total of 5,034 homes sold in February, up from 4,590 for February 2009, while the median price of a home in Los Angeles County last month was $315,000, up from $299,000 in the same month a year ago.

In Orange County, the median home price was $417,000, up 11.2 percent from the February 2009 median of $375,000. A total of 1,986 homes were sold in that county last month, up 5.7 percent from the 1,879 home sales in February 2009.


 

2 comments


Comment Profile ImageBarry Otera fan
Comment #1 | Saturday, Mar 20, 2010 at 9:46 am
Looks like the Democrats are about to force healthcare taxes on more unemployed people with their vote on Sunday, so look for Riverside R.E. prices to plummet as employers leave the area with AB32 on the horizon, and a hostile private business regulatory environment.

Business locations are a buyer's market, and California has not realized that it now is last in competeting for the best and brightest. California population will now be composed of the worst and dumbest who expect the most from giving the least.

Comment Profile Imagechachacha
Comment #2 | Sunday, May 2, 2010 at 7:34 pm
looks like barry is betting against the market

Article Comments are contributed by our readers, and do not necessarily reflect the views of The Valley News staff. The name listed as the author for comments cannot be verified; Comment authors are not guaranteed to be who they claim they are.

 

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