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The Associated Press, via Forbes.com
Median price of SoCal homes plunged 24 pct
to 4-year low
Southern California home prices fell 24 percent in
March, almost a four-year low, according to DataQuick Information
Services. March’s six-county regional median price was
$385,000, down sharply from March 2007, when the median was at
$505,000. The last time the regional median price was that
low was in April 2004, when it was $380,000.
MAKING SENSE OF THE STORY FOR CONSUMERS
- Foreclosures are driving price declines. Riverside/San
Bernardino was most affected. Fifty-six percent of homes sold
in Riverside County in March were foreclosures, which caused the
area’s median price to drop 27 percent to $306,250. San
Bernardino’s median price fell 28 percent to $265,000.
- Orange County continues to be the most expensive market in the
region at $506,000, which was 20 percent below last year’s median
price for March.
To read the full story, please click
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help you buy or sell Altadena homes.
Questions? Email
or write to: The Manzo Team, REMAX Tri-City,
740 East Green Street, Altadena, CA 91101 Tel 626 296-2900
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