LOS ANGELES (CNS) – Home sales in Los Angeles County dropped 14.9 percent in December, compared to the same month a year ago, while prices dipped by 2.7 percent, a real estate information service reported today.
A total of 6,536 homes changed hands locally last month, compared to 7,679 in December 2009, according to La Jolla-based MDA DataQuick. The median price of a home in Los Angeles County in December was $330,000, down from $339,000 in December 2009.
In Orange County, 2,739 homes were sold in December, down 5.1 percent from December 2009, when 2,885 were sold. The median home price was $410,000 last month, down 5.7 percent from $435,000 a year ago.
A total of 19,528 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in December, according to DataQuick. That was up 20.5 percent from 16,208 in November, but down 12.5 percent from 22,328 in December 2009.
‘Ultra-low mortgage rates, coupled with lower prices, gave the market a boost this fall, helping to explain the above-average gain in closings between November and December,’ according to John Walsh, MDA DataQuick president. ‘We still see the potential for sales to perk up this spring if rates stay low and brighter economic news lifts consumer confidence. Of course, a loosening of credit terms would help an awful lot, too, especially in move-up markets.’
The median price for a Southern California home was $290,000 last month, up 1 percent from $287,000 in November, and up 0.3 percent from $289,000 in December 2009, according to DataQuick.
Hing Wa Lee Jewelers celebrated the Grand Opening of their flagship store this past Friday afternoon in San Gabriel in spectacular fashion, with an inspiring musical performance by world-renown pianist Lang Lang, a traditional lion dance and the attend...
This production has been dancing around inside Bonnie Hanson’s head for the past two years, and it’s difficult to believe that even its creator ever envisioned something this spectacular when it finally strutted onto San Marino High School’s Neher Audi...