It seems like we discuss how last month’s median housing price set a new record every month, and this month is no different; the median home price across Southern California’s six counties set a new record in May 2021.
While sales have doubled in Los Angeles and Orange County, compared to May 2020, low inventory is still driving prices through the roof. In April 2021, the median home price in Southern California was $655k, whereas it topped $667k in May 2021. Orange County is the big winner for May 2021, with a 19% increase in median home prices from May 2020 at $895k. Los Angeles County took silver with a median home price of $775k. San Diego County came in third at $725k, and Ventura County received an honorable mention at $701.5k.
All-in-all, the housing market appears to be in a position to remain hot for the foreseeable future. At the Chernov Team we understand knowledge is power, and knowledge of how the Southern California housing markets are performing is powerful knowledge indeed. At the Chernov Team we know that whoever comes to the table most prepared leaves with the most, and the Chernov Team always leaves the table with the most.
Los Angeles County Sets New Personal Best for Median Home Price in May 2021 at $775,000
