Here's an update on 5 counties in Southern California Housing numbers for single-family residences comparing June 2020 to June 2021. As we take on the summer season supply is still low and demand is also still high across cities in Southern California.
Riverside County
Home Values
- June 2020: $439,750
- June 2021: $555,000
- Increase of +26.2% in home values compared to last year
Average Days on the Market
- June 2020: 26 days
- June 2021: 7 days
- Decrease of 73.1% compared to last year
Units Sold
- June 2020: 2,622
- June 2021:3,111
- Increase of 18.65% change year over year
- Homes Sold at 100% or more of the Asking Price
- June 2020: 67.5%
- June 2021: 84.28%
- Increase of 53.25% change year over year
San Diego County
Home Values
- June 2020: $680,000
- June 2021: $875,000
- Increase of +28.7% in home values compared to last year
Average Days on the Market
- June 2020: 12
- June 2021: 6
- Decrease of 50% compared to last year
Units Sold
- June 2020: 2,076
- June 2021: 2,615
- Increase of 26% compared to last year
Orange County
Home Values
- June 2020: $819,200
- June 2021: $1,036,000
- Increase of +26.5% in homes values compared to last year
Average Days on the Market
- June 2020: 20days
- June 2021: 6 days
- Decrease of 70% compared to last year
Units Sold
- June 2020: 961
- June 2021: 1523
- Increase of 58.5% change year over year
San Bernardino County
Home Values
- June 2020: $360,000
- June 2021: $467,750
- Increase of +29.9% in homes values compared to last year
Average Days on the Market
- June 2020: 23 days
- June 2021: 8 days
- Decrease of 65.2% compared to last year
Units Sold
- June 2020: 1,911
- June 2021: 2,415
- Increase of 26.4% change year over year
Homes Sold at 100% or more of the Asking Price
- June 2020: 61.23%
- June 2021: 81.76%
- Increase of 33.52% change year over year
Los Angeles County
Home Values
- June 2020: $710,000
- June 2021: $915,000
- Increase of +28.9% in homes values compared to last year
Average Days on the Market
- June 2020: 17 days
- June 2021: 8 days
- Decrease of 52.9% compared to last year
Units Sold
- June 2020: 3,299
- June 2021: 5,188
- Increase of 57.3% change year over year
Interest Rates have fluctuated a bit from the record lows but continue to be at low. Mortgage Rates continue to fuel and drive demand. People are still wanting to Lock in a low 30 Year Interest Rate and payment.
Overall, the Real Estate market in Southern California remains strong. As long as we continue to see a lien supply of homes for sale and a high demand, we'll continue to experience price appreciation.
If you would like a market outlook and see the trends specific to your area or a free market evaluation to determine what your home is worth. Call me today at (951) 400-4463. Or if you know someone that is interested in buying or selling a home call me at (951) 400-4463 or pass on my number. Thank you for taking the time to listen in.
