Southern California home prices muscled to an all-time high in April as the hot real estate market got even hotter.
The six-county region’s median home price increased 20.2% year over year to a record $655,000, according to data released Tuesday by real estate firm DQNews. That’s $25,000 more than the previous median price record set in March.
The 20.2% leap is the first year-over-year increase of more than 20% since December 2013, said Becky Beavers of DQNews.
April home sales jumped 86.2% year over year with a total of 25,857 transactions, compared with 13,889 in April 2020. It’s both a reflection of the pandemic-fueled housing boom and of a market that was chilled by the coronavirus last spring as sales died in escrow and would-be sellers decided not to move.
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