LOS ANGELES (AP) — Southern California’s median home price increased just over 1 percent last month to $283,000 from October 2009, the smallest year-over-year increase this year.
San Diego-based MDA DataQuick said in a report Tuesday that sluggish sales of up-market homes were keeping the median from appreciating much over last year’s prices.
The median in the six-county region was down about 4 percent from $295,000 in September.
Home sales also fell some 24 percent from around 22,100 in October 2009 to about 16,700 last month, their lowest level for an October since 2007.
Sales declined about 7 percent from around 18,000 in September.
Foreclosures accounted for about 35 percent of last month’s sales.
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