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Southern California Home Prices Rose in July

Tustin Legacy Orange County Beach

Southern California home prices jumped to their highest levels in nearly four years last month, lifted by sales in pricier coastal regions, a research firm said Tuesday.

The median price for new and existing houses and condominiums in the six-county region reached $306,000 in July, up 8.1 percent from $283,000 the same period last year, DataQuick reported. It was the fourth straight month that the median price rose from last year and the highest level since $308,500 in September 2008.

Sales jumped to 20,588 homes, up 13.8 percent from 18,090 homes last year, DataQuick said. It was the seventh straight month that sales climbed a year earlier.

Brisker sales in high-end coastal areas fueled price gains, with Orange County — the region’s most expensive — showing a 25.7 percent increase in sales. San Diego, the region’s third-most expensive county after Orange and Ventura, witnessed a 17.2 percent sales increase. Sales in Los Angeles County grew 14.5 percent.

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