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.