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Southland Home Prices, Sales Drop

May 05, 1994

Sales of existing homes in Southern California dipped in the first quarter of 1994 but were up sharply compared to the first quarter of 1993. Prices in most areas continued to erode.

Statewide, sales were up slightly on an annualized basis.

Here are the median prices by region, the percent change in prices and the percent change in sales volume from the first quarter last year (regional sales data for single-family homes only, no condominiums).

Percent Percent change change Price in price in sales Statewide: Single-family $182,150 -3.3% +24.9% Condominium 141,230 -1.5 +14.1 Region: Central Valley $115,280 -0.4% +22.9% High desert* 103,760 -6.6 +21.9 Los Angeles 188,390 -4.7 +28.9 Monterey 227,550 -0.9 +30.0 Northern California 134,820 -1.2 +28.2 Northern wine country 185,880 -1.0 +24.9 Orange County 209,490 -4.5 +6.9 Palm Springs-low desert* 122,920 +1.0 +104.7 Riverside-San Bernardino 130,970 -3.2 +35.4 Sacramento 127,360 -2.3 +21.5 San Diego 177,840 +1.6 +40.5 San Francisco Bay 246,950 +0.2 +13.9 Santa Barbara* 221,340 +4.8 +33.9 Santa Clara 243,670 -0.1 -2.6 Ventura 202,130 -2.9 +54.6

* Small sample size may give skewed results

Sources: California Assn. of Realtors; National Assn. of Realtors

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