Median Home Price in Southern California reaches $300K - San Bernardino County values increased the most

Going up chart home prices - BSN

(Best Syndication News) - Housing prices have increased, and so have the number of homes sold in Southern California compared to the year-over-year (YOY) survey by DataQuick. The median home price increased in June 2012 to $300,000, which is up 5.3 percent from the June 2011 average price of $285,000.

Comparing May 2012 to June 2012 there was a 1.7 percent increase in the median home price, which was only $295,000 the month before.

There was also an increase of 7.5 percent in the number of homes sold. In June 2011 there were 20,532 homes sold, and in June 2012 there were 22,075 homes sold.

In San Bernardino County, there was an increase in the median home price of $158,000, up 6.8 percent from the June 2011 price of $148,000. However, the sales volume was down 1.30 percent from the YOY June survey. San Bernardino County had the largest increase in the average home price compared to all the other Southern California counties.

According to the June 2012 Obama Administrations Housing Scorecard report, home equity has increased $457.1 billion in the first quarter of 2012 throughout the United States. This is a 7.4 percent increase from the fourth quarter of 2011.

The Housing Scorecard reported that the number of homes on the real estate market is at low levels, while the number of properties that were held off the market remained at very high levels.

By: Dave Reddy

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