San Diego was the only county in Southern California which had both sales and pricing increase last month:
Southern California home prices skyrocketed more than 28% in June compared to a year ago, real estate information firm DataQuick reported Wednesday.
The dramatic 28.3% jump was greater than any year-over-year pop seen during the housing boom and the most since January 1989, the first time DataQuick generated the figure.
The Southland’s median sales price reached $385,000 last month, 4.6% more than May and the highest dollar amount in more than five years.
“This market’s getting really interesting,” DataQuick President John Walsh said Wednesday in a news release announcing the figures.
Walsh said there are signs the “blistering pace” of rising home prices won’t continue, citing rising mortgage rates and the belief that the price gains will spur more home owners to place their houses on the market.