The median home price in Southern California hit its highest point in nearly four years last month as buyers competed for fewer homes and committed to pricier abodes in more move-up neighborhoods.
The region’s median home price last month was $306,000, according to real estate research firm DataQuick. That was a 2.0% increase from June and up 8.1% from July 2011. The median, which is the point at which half the homes in the area sold for more and half for less, has been up year-over-year for four consecutive months and up from the prior month for six straight months.
