Southern California Home Sales for December 2011

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DQ News reported that 19,247 new and resale homes sold last month.  That was up for December from November by 14% but down 1.4% from December 2010.  Normally, sales are up from November to December because investors frequently want to close before year end. 

Distressed properties accounted for 52.5 percent of the Southern California residential activity last month, up from 51.2 percent in November but down from 53.8 percent a year earlier. Almost one out of three homes resold last month was a foreclosure and about one in five was a short sale. 

Median price at $270,000 for December 2011 was down 1.8% from $275,000 in November 2011 and down from 6.9% from November 2010. 

The year over year median has fallen for the last ten months.  December median was 9.3 percent higher than the median’s low point in the current real estate cycle – $247,000 in April 2009, but it was 46.5 percent lower than the peak $505,000 median in mid 2007.  

http://dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120117.aspx

http://dqnews.com/Charts/Monthly-Charts/LA-Times-Charts/ZIPLAT.aspx

http://dqnews.com/Charts/Monthly-Charts/CA-City-Charts/ZIPCAR.aspx

Sales Volume Median Price
All homes Dec-10 Dec-11 %Chng Dec-10 Dec-11 %Chng
Los Angeles    6,536 6,591 0.80% $330,000 $305,000 -7.60%
Orange         2,739 2,572 -6.10% $410,000 $400,000 -2.40%
Riverside      3,696 3,584 -3.00% $200,000 $194,000 -3.00%
San Bernardino 2,605 2,418 -7.20% $152,000 $150,000 -1.30%
San Diego      3,191 3,311 3.80% $333,000 $315,000 -5.40%
Ventura        761 771 1.30% $355,000 $325,000 -8.50%
SoCal          19,528 19,247 -1.40% $290,000 $270,000 -6.90%

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