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FEBRUARY SAW A NEAR-RECORD INCREASE IN SOUTHERN CALIFORNIA PROPERTY PRICES.

Friday, April 5, 2024   /   by Bob Cowan

FEBRUARY SAW A NEAR-RECORD INCREASE IN SOUTHERN CALIFORNIA PROPERTY PRICES.

California Property Prices

View the most recent rental and house prices in and around Los Angeles.

February saw an uptick in Southern California home prices for the second month in a row as the market gets closer to a traditionally busy time of year.

Zillow data shows that the average home price in the six-county area was $842,997 in February, an increase of 0.8% over the previous month.

Home values in the Southland have increased by 8% from a year ago and are only 0.6% behind their peak, which was attained in June 2022.

All six counties saw price increases, with Los Angeles having the highest average home price at $860,167.

Hollywood

Senior economist at Zillow Orphe Divounguy stated that seasonal considerations, as opposed to an abrupt spike in demand, are mostly responsible for the recent price rises. In the home market, winter is often a sluggish season, with purchasers typically returning after the holidays.


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Platinum Living Realty
Bob Cowan
120 Newport Center Drive
Newport Beach, CA 92661
949-441-9918
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Based on information from California Regional Multiple Listing Service, Inc. as of May 30, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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