La Jolla,CA, September 17---Sales trends differed sharply in local Southern California markets last month. Orange County experienced its weakest August in eight years while the Inland Empire experienced its strongest August ever, a real estate information service reported.
A total of 31,131 homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in August. That was down 5.6 percent from July's 32,988 and down 9.6 percent from a near record 34,437 for August last year, according to DataQuick Information Systems.
"Within this medley of statistical trends, a couple of things are still clear. Many buyers in move-up and prestige areas are getting skittish, while buyers in more affordable areas are still quite active. And while prices overall are still going up, they're not going up as fast as they were earlier this year," said Marshall Prentice, DataQuick president.
The median price paid for a Southern California home was $407,000 last month, another record. That was up 1.2 percent from $402,000 in July, and up 20.4 percent from $338,000 for August 2003. The year-over- year price increase was the lowest so far this year.
