Southland Home Sales Increase More Than 16% in First Quarter

The number of homes sold in the six-county Southern California region continued to increase through the first quarter of 1996,DataQuick Information Systems reported. Sales totaled 44,672, up 16.5% from last year. The sales count was slightly lower than 1994’s first-quarter 44,766, the highest since 1990 for that time period.

“Sales have been especially strong in older established areas like Pasadena, Redondo Beach and Palos Verdes,” said Donald L. Cohn, DataQuick’s CEO. “There are also indications that the price declines in many areas have leveled off.”

Prices showed a year-over-year increase in San Diego and Ventura counties. In beleaguered Los Angeles County, the year-over-year decline was 0.6% for the quarter, from $161,000 to $160,000.

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Southland Home Sales *--*

County 1st Qtr 1st Qtr % Median Median % 1995 1996 Chng Price Price Chng Resales Resale ’95 ’96 Los Angeles 16,190 17,947 10.9% $161,000 $160,000 -0.6% Orange 6,038 7,512 24.4% $193,000 $187,000 -3.1% San Diego 5,525 6,867 24.3% $164,000 $165,000 0.6% Riverside 4,476 5,208 16.4% $126,000 $126,000 0.0% San Bernardino 4,171 4,889 17.2% $122,000 $117,000 -4.1% Ventura 1,942 2,249 15.8% $184,000 $188,000 2.2% California 38,342 44,672 16.5% $159,000 $158,000 -0.6%

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Source: DataQuick Information Systems