Sales Pace Surge and Price Appreciation in SoCal

Sales Pace Surge and Price Appreciation in SoCal

The strong start to the year in the Southern California housing market continues to be borne out by the data. The median home price in Southern California climbed to $425,000 in March, a 2.4% gain over the $415,000 median price in February. The number of home sales increased by 11.4% from the year ago period. With supply in Los Angeles, Orange and San Diego Counties at approximately four months (six months is considered a balanced market), low inventory could push prices higher in the face of increased demand.

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Michael Anderson
Michael Anderson 249 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

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