Firm: California median home price rises in month | TahoeDailyTribune.com

Firm: California median home price rises in month

Jacob Adelman
Associated Press Writer

LOS ANGELES (AP) – The median home price in California surged 21 percent last month from May 2009, as the state’s sales mix continued to pivot from low-cost foreclosures toward higher-end properties.

San Diego-based MDA DataQuick said in a report Thursday that the state median increased to $278,000 from $230,000 in May 2009 and rose 9 percent from $255,000 in April.

DataQuick says nearly 41,000 homes were sold in the state in May, up 5 percent from around 39,000 in May 2009 and up 9 percent from about 37,500 in April.

Foreclosures comprised 36 percent of resales last month, down from 50 percent a year ago.

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