Firm: California median home price rises in month
June 17, 2010
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.