November 2011 median home price down 4.2% from November 2010: Dataquick

Last month the median price paid for all new and resale Southland houses and condos sold was $275,000, up 1.9 percent from $270,000 in October but down 4.2 percent from $287,000 in November 2010.

The regional median has declined year-over-year for the past nine months – since March. San Bernardino County’s 2.3 percent year-over-year gain in its median sale price in November marked the first time since January this year that any Southland County posted an annual gain in its overall median.

 However, total sales have increased year over year.

A total of 16,884 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in November. That was up 0.3 percent from 16,829 in October and up 4.2 percent from 16,208 in November 2010, according to San Diego-based DataQuick.

Now let's look at sales of homes above.

Last month 17.8 percent of all home sales were for $500,000 or more – the lowest portion since May 2009, when it was 17.4 percent. November’s share of $500,000-plus sales was down a hair from 17.9 percent in October and down from 21.1 percent a year earlier. The low point for $500,000-plus sales in this cycle was in January 2009, when only 13.8 percent of sales crossed that price threshold. Over the past 10 years, a monthly average of 27.9 percent of homes sold for $500,000 or more.

And their chart.

Sales Volume Median Price All homes 10-Nov 11-Nov %Chng 10-Nov 11-Nov %Chng Los Angeles    5,540 5,859 5.80% $325,000 $308,000 -5.20% Orange         2,257 2,297 1.80% $435,000 $400,000 -8.00% Riverside      2,977 2,971 -0.20% $195,000 $195,000 0.00% San Bernardino 2,271 2,378 4.70% $152,000 $155,500 2.30% San Diego      2,566 2,754 7.30% $335,000 $315,000 -6.00% Ventura        597 625 4.70% $375,000 $349,550 -6.80% SoCal          16,208 16,884 4.20% $287,000 $275,000 -4.20%
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