Median Profit on L.A. Home Sale: $233K

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We heard this first on KNX-AM, and thought it was worth passing on: First American CoreLogic’s ‘profit report’ for June, showing median sales prices, median prior sales prices, and implied profit on home sales. Numbers:

County Med. price med. prior price implied profit
LA $548,000 $315,000 $233,000
Orange Cty $658,000 $370,000 $288,000
Riverside $390,000 $277,000 $113,000
S. Bern. $365,000 $192,000 $173,000

Percentage of sales in which sales price was less than prior sales price:
LA 8.2%
OC 9.9%
Riverside 19.4%
S. Bern. 11.1%

More: Median months between sales:
LA 52 months
OC 60 months
Riverside 42 months
S. Bern. 47 months

Photo Credit: Reuters
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