Record $865,000 countywide median for all homes — up 3% in a month and up 15.3% in a year
Los Angeles County home sales fell 17% from last year’s spring sales rush as record-high prices and soaring mortgage rates in April pushed the cost of buying 36% higher.21,486 residences — single-family, condominium, existing and newly constructed homes — sold in six counties
, down -8% for the month, and down -19% over the past year. The region’s median price of $760,000 was up 3% for the month, and up 17% over 12 months. Pricier home loans saw a typical buyer get a house payment of $3,010 a month for the latest median vs. $2,191 a year ago on the $651,000 median. So prices rose 17% vs. a house payment’s 37% jump.
Here’s what my trusty spreadsheet found in DQNews’ report on closed transactions in Los Angeles County in April …6,999 Los Angeles County residences sold. This was the No. 24 busiest April of the 35 since 1988.7% decrease from March. Since 1988, sales have fallen in this 30-day period 44% of the time with an average 1.3% increase from March.April sales were 9.3% above the 6,403 average buying pace of the month, 2010-2019 of the 35 since 1988.
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